Waddell & Reed

Fund Detail

Ivy Global Income Allocation Fund
Class A Shares

Please select a fund and share class

Fund Facts
Ticker Symbol IVBAX
CUSIP 465898567
Fund Code 649
Fund Type Global/International
Fund Inception 9/16/1994
Class Inception 9/16/1994
Fiscal Year End March
Dividends Paid March, June, September, December
Fund Assets (as of 8/31/2014) $677.8 mil
Total Equity Holdings (as of 8/31/2014) 70
Total Holdings (as of 8/31/2014) 164
Lipper Category Mixed-Asset Target Alloc Growth Funds
Morningstar Category World Allocation
Benchmarks Barclays Multiverse TR USD
MSCI World High Dividend Yield NR USD
MSCI Wrld High Div Yld 60 + Barclays Multiverse 40
Daily Prices
as of 9/29/2014
Net Asset Value (NAV) $15.49
NAV Change ($) ($0.06)
NAV Change (%) -0.39%
Weekly NAV Change ($) ($0.06)
Weekly NAV Change (%) -0.39%
Public Offering Price (POP) $16.44
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide total return through a combination of capital appreciation and current income.

Investment Approach
The Fund invests principally in equity and debt securities issued by companies and governments located in largely developed European and Asian/Pacific basin markets of issuers of any size, and investment grade debt securities issued by governmental agencies and corporations. In selecting equity securities, the Fund's manager uses a top-down, macro thematic approach, along with a bottom-up stock selection process, and uses a combination of country analysis, industry dynamics and individual stock selection. Debt securities are selected, after an analysis of trends in interest rates and economic conditions, based on the manager's judgment as to which securities are more likely to perform well under those conditions.
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 Average Annual Total Returns
as of 8/31/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 6.64% 15.99% 8.27% 8.42% 6.98% 7.06%
Fund with 5.75% sales charge 0.53% 9.31% 6.16% 7.15% 6.35% 6.75%
Barclays Multiverse TR USD 4.63% 6.49% 1.68% 4.01% 4.97% N/A
MSCI World High Dividend Yield NR USD 7.55% 19.83% 14.16% 12.25% 7.49% N/A
MSCI Wrld High Div Yld 60 + Barclays Multiverse 40 6.43% 14.40% 9.13% 9.05% 6.76% N/A
Quarterly Rates of Return Average Annual Total Returns
as of 6/30/2014
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 7.17% 17.96% 6.63% 10.85% 6.93% 7.15%
Fund with 5.75% sales charge 1.03% 11.16% 4.55% 9.56% 6.30% 6.83%
Barclays Multiverse TR USD 5.02% 7.70% 2.86% 4.94% 5.24% N/A
MSCI World High Dividend Yield NR USD 8.02% 23.04% 12.08% 15.63% 7.68% N/A
MSCI Wrld High Div Yld 60 + Barclays Multiverse 40 6.87% 16.78% 8.45% 11.43% 6.99% N/A
Lipper Mixed-Asset Target Alloc Growth Funds 5.43% 17.72% 10.09% 13.24% 6.56% N/A
Expense Ratios
as of 7/31/2014
Net 1.46%
Gross 1.46%
12-Month Trailing Distribution Yield
as of 8/31/2014
NAV 3.93%
With sales charge 3.70%
Annualized 30-Day SEC Yield
as of 8/31/2014
Subsidized 3.09%
Unsubsidized 3.09%
Growth of a $10,000 Investment
through 8/31/2014
 Global Income Allocation A
 Barclays Multiverse TR USD
 MSCI World High Dividend Yield NR USD

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 8/31/2014
Category: Mixed-Asset Target Alloc Growth Funds
  Rank Percentile
1 Year 389 / 568 69
3 Year 493 / 508 97
5 Year 458 / 473 97
10 Year 144 / 312 47

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

Morningstar Ratings
as of 8/31/2014
Category: World Allocation
Overall (out of 349 World Allocation)
3 Year (out of 349 World Allocation)
5 Year (out of 248 World Allocation)
10 Year (out of 125 World Allocation)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 8/31/2014)
Foreign Common Stock 42.12%
Domestic Common Stock 23.79%
Corporate Bonds 21.66%
Cash and Cash Equivalents 4.61%
Senior Loans 3.39%
Other Government Securities 3.30%
Preferred Stock 0.99%
General Obligation Bonds 0.15%
Sector Allocation
(as a % of equity holdings as of 8/31/2014)
Financials 27.5%
Consumer Discretionary 16.6%
Energy 11.5%
Industrials 9.0%
Consumer Staples 8.8%
Materials 6.5%
Utilities 6.4%
Telecommunication Services 6.0%
Health Care 5.4%
Information Technology 2.4%
Country Allocation
(as a % of equity holdings as of 8/31/2014)
United States 36.1%
United Kingdom 14.5%
France 10.6%
Australia 7.4%
Japan 5.5%
Norway 3.9%
Canada 3.6%
Israel 2.8%
Spain 2.8%
Belgium 2.7%
Luxembourg 2.5%
Denmark 1.6%
Finland 1.4%
Bermuda 1.3%
Sweden 1.3%
Hong Kong 1.0%
Singapore 1.0%
Top 10 Equity Holdings
(as a % of net assets as of 8/31/2014)
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 1.8%
Abengoa Yield plc 1.8%
Blackstone Mortgage Trust, Inc. is a real estate finance company that primarily originates and purchases senior mortgage loans collateralized by properties in the U.S. and Europe. It seeks to originate, acquire and manage commercial real estate loans and securities and other commercial real estate-related debt instruments.Blackstone Mortgage Trust, Inc., Class A 1.8%
Philip Morris International Inc manufactures and sells cigarettes and other tobacco products in markets outside of the United States of America. The company's portfolio comprises international and local brands.Philip Morris International, Inc. 1.6%
Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. It operates in two segments, Oral, Personal, and Home Care; and Pet Nutrition.Colgate-Palmolive Co. 1.4%
Two Harbors Investment Corp. 1.3%
The Dow Chemical Company engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other specialized products and services worldwide.Dow Chemical Co. (The) 1.3%
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. 1.3%
BP plc 1.3%
Starwood Property Trust, Inc. 1.3%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2014)
Quality
(as a % of bond holdings as of 8/31/2014)
AAA 4.3 %
AA 3.7 %
A 2.5 %
BBB 14.0 %
BB 27.9 %
B 24.5 %
CCC 19.9 %
Non-Rated 3.2 %

Quality: Our preference is to always use ratings obtained from Standard & Poor's. For securities not rated by Standard & Poor's, ratings are obtained from Moody's. We do not evaluate these ratings, but simply assign them to the appropriate credit quality category as determined by the rating agency.

Maturity
(as a % of bond holdings as of 8/31/2014)
<1 Year 3.3 %
1-5 Years 45.5 %
5-10 Years 48.7 %
10-20 Years 0.5 %
>20 Years 2.0 %
Average Maturity 5.36 years
Effective Duration 3.67 years

Average maturity and effective duration include bonds, cash and cash equivalents.

Risk Factors: As with any mutual fund, 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: Barclays Multiverse TR USD - The Barclays Multiverse Index is an unmanaged index comprised of securities that represent the global bond market. It is not possible to invest directly in an index.

Index Description: The index shown is a custom blend index comprised of 60% MSCI World High Dividend Yield Index and 40% Barclays Multiverse Index. Barclays Multiverse Index is comprised of securities that represent the global bond market. 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.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2015, to the extent that the total annual ordinary fund operating expenses of the Class Y shares exceeds the total annual ordinary fund operating expenses of the Class A shares, IFDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated by IFDI, WISC or the Board of Trustees.

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.

For periods prior to December 8, 2003, the performance shown below is the performance of the Class A shares of Advantus International Balanced Fund which along with its other classes of shares was reorganized on December 8, 2003 into Class A shares of Ivy Global Income Allocation Fund. For that time period, the Fund would have had substantially similar annual returns because the shares would have been invested in a similar portfolio of securities, but would differ to the extent that the Fund has different expenses. Performance prior to December 8, 2003, has not been restated to reflect the estimated annual operating expenses of Ivy Global Income Allocation Fund. If those expenses were reflected, performance shown below would differ.

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.

Quality: Our preference is to always use ratings obtained from Standard & Poor's. For securities not rated by Standard & Poor's, ratings are obtained from Moody's. We do not evaluate these ratings, but simply assign them to the appropriate credit quality category as determined by the rating agency.

Financial Advisor Opportunities
Corporate Careers