Waddell & Reed

Fund Detail

Ivy Global Equity Income Fund
Class A Shares

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Fund Facts
Ticker Symbol IBIAX
CUSIP 465899631
Fund Code 659
Fund Type Global/International
Fund Inception 6/4/2012
Class Inception 6/4/2012
Fiscal Year End March
Dividends Paid March, June, September, December
Fund Assets (as of 4/30/2016) $299.7 mil
Total Equity Holdings (as of 4/30/2016) 65
Total Holdings (as of 4/30/2016) 66
Portfolio Turnover Rate (as of 3/31/2016) 73%
Lipper Category Global Equity Income Funds
Morningstar Category World Stock
Benchmarks MSCI World High Dividend Yield NR USD
Daily Prices
as of 5/27/2016
Net Asset Value (NAV) $12.24
NAV Change ($) $0.01
NAV Change (%) 0.08%
Weekly NAV Change ($) $0.23
Weekly NAV Change (%) 1.92%
Public Offering Price (POP) $12.99
Historical Prices & Distributions
Please select a date
Fund Description

Seeking growth and income across the globe

Global diversification
Flexibility to invest in stocks trading in most countries around the world in a variety of economic sectors and industries.
Income potential
Seeks income generating securities with favorable prospects for total return.
Experienced management
Portfolio manager experience is approximately 20 years and supported by more than 70 investment professionals.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 4/30/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 1.51% -4.95% 4.90% N/A N/A 10.32%
Fund with 5.75% sales charge -4.32% -10.44% 2.85% N/A N/A 8.66%
MSCI World High Dividend Yield NR USD 5.86% -1.27% 4.17% 5.89% 3.87% 11.03%
Lipper Global Equity Income Funds 3.45% -4.05% 3.72% 4.37% 3.08% 9.41%
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 3/31/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -0.41% -5.22% 5.62% N/A N/A 10.00%
Fund with 5.75% sales charge -6.14% -10.65% 3.56% N/A N/A 8.31%
MSCI World High Dividend Yield NR USD 3.77% 0.22% 4.98% 6.68% 4.12% 10.70%
Lipper Global Equity Income Funds 2.38% -2.38% 4.49% 5.06% 3.25% 9.41%
Expense Ratios
as of 7/31/2015
Net 1.33%
Gross 1.41%
12-Month Trailing Distribution Yield
as of 4/30/2016
NAV 3.15%
With sales charge 2.98%
Annualized 30-Day SEC Yield
as of 4/30/2016
Subsidized 2.25%
Unsubsidized 2.19%
Growth of a $10,000 Investment
through 4/30/2016

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Ratings and Rankings
Lipper Rankings
as of 4/30/2016
Category: Global Equity Income Funds
  Rank Percentile
1 Year 90 / 161 56
3 Year 47 / 135 35

Rankings are based on average annual total returns, but do not consider sales charges.

Morningstar Ratings
as of 4/30/2016
Category: World Stock
Overall (out of 920 World Stock)
3 Year (out of 920 World Stock)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 4/30/2016)
Foreign Common Stock 63.56%
Domestic Common Stock 34.54%
Cash and Cash Equivalents 1.90%
Sector Allocation
(as a % of equity holdings as of 4/30/2016)
Health Care 16.6%
Consumer Staples 14.7%
Telecommunication Services 11.5%
Energy 11.0%
Financials 10.4%
Industrials 10.2%
Consumer Discretionary 9.7%
Utilities 8.8%
Materials 4.5%
Information Technology 2.7%
Equity Country Allocation
(as a % of equity holdings as of 4/30/2016)
United States 35.2%
United Kingdom 19.5%
France 14.7%
Netherlands 6.2%
Israel 3.9%
Italy 3.6%
Australia 3.6%
Norway 2.7%
Spain 2.4%
Japan 1.6%
Canada 1.5%
Switzerland 1.4%
New Zealand 1.1%
Sweden 1.0%
Singapore 1.0%
Ireland 0.5%
Top 10 Equity Holdings
(as a % of net assets as of 4/30/2016)
Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.Johnson & Johnson 3.65%
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. The Company manages its operations through five segments: Primary Care; Specialty Care and Oncology; Established Products and Emerging Markets; Animal Health and Consumer Healthcare, and Nutrition.Pfizer, Inc. 3.57%
AT&T Inc. is a holding company providing telecommunications services in the U.S. and worldwide. These include wireless communications, local exchange and long-distance services, data/broadband/Internet and video services, managed networking, wholesale services, directory advertising, publishing.AT&T Inc. 3.34%
Royal Dutch Shell plc (Shell) is an independent oil and gas company.Royal Dutch Shell plc, Class A 3.00%
Occidental Petroleum Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company. The company has three segments: Oil and Gas; Chemical; and Midstream, Marketing, and Other.Occidental Petroleum Corp. 2.68%
Marine Harvest ASA, a seafood company, produces and sells farmed salmon products worldwide. It is engaged in the fish farming, processing, and smoking activities.Marine Harvest ASA 2.67%
Microsoft Corporation is a multinational computer technology corporation that develops, manufactures, licenses and supports a wide range of software products for computing devices.Microsoft Corp. 2.62%
TOTAL is the world's fourth-largest integrated oil and petroleum company, engaged in oil and gas exploration, development, production, refining, marketing, trading and shipping.Total S.A. 2.57%
Teva Pharmaceutical Industries Ltd (Teva) is a global pharmaceutical and drug company. It develops, produces and markets generic drugs in all treatment categories. Teva Pharmaceutical Industries Ltd. ADR 2.38%
[Note: AXA Group is what yahoo points to] AXA Group, through its subsidiaries, provides insurance and asset management services, primarily in Europe, North America and Asia.Axa S.A. 2.12%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2016)
Top 10 Industry Allocation
(as a % of equity holdings as of 4/30/2016)
Pharmaceuticals 16.6%
Integrated Oil & Gas 11.0%
Integrated Telecommunication Services 10.3%
Diversified Banks 6.2%
Tobacco 5.8%
Aerospace & Defense 4.8%
Packaged Foods & Meats 4.7%
Electric Utilities 4.3%
Multi-Utilities 3.5%
Systems Software 2.7%

Risk Factors: The value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time.

Stylebox: The Morningstar Equity style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

Index Description: MSCI World High Div Yld NR USD - MSCI World High Dividend Yield Index is designed to reflect the performance of equities (excluding REITs) with higher than average dividend yields that are both sustainable and persistent, first calculated on 5/31/2006. It is not possible to invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or repurposed in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, salability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) Source: MSCI.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2016, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributor, Inc. (IDI), the Fund’s Distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses for the Fund’s Class A shares at 1.30%, Class I shares at 0.94% and Class Y shares at 1.19%. Prior to that date, the expense limitation may not be terminated by IICO, IDI, WISC or the Board of Trustees.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

30-Day SEC Yield: is calculated based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30 day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

Morningstar Ratings: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) A fund's overall rating is derived from a weighted average of the 3-, 5- and 10-year (if applicable) rating metrics. Morningstar Rating is for the share classes specified; other classes may have different performance characteristics.

Information is subject to change and is not intended to represent any past or future investment recommendations.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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