Waddell & Reed

Fund Detail

Ivy International Core Equity Fund
Class A Shares

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Fund Facts
Ticker Symbol IVIAX
CUSIP 465897353
Fund Code 613
Fund Type Global/International
Fund Inception 5/13/1997
Class Inception 5/13/1997
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 7/31/2016) $4.7 bil
Total Equity Holdings (as of 7/31/2016) 77
Total Holdings (as of 7/31/2016) 90
Portfolio Turnover Rate (as of 3/31/2016) 62%
Lipper Category International Large-Cap Core
Morningstar Category Foreign Large Blend
Daily Prices
as of 8/30/2016
Net Asset Value (NAV) $16.82
NAV Change ($) ($0.01)
NAV Change (%) -0.06%
Weekly NAV Change ($) ($0.11)
Weekly NAV Change (%) -0.65%
Public Offering Price (POP) $17.85
Historical Prices & Distributions
Please select a date
Fund Description

Your gateway to international opportunities

Broad Reach
Wide-range investment mandate, which allows the Fund to invest across the entire international landscape, including emerging markets.
True Flexibility
A core style approach with the ability to over- and underweight international growth or international value stocks as market cycles and research dictates.
Fundamentally Sound
Seeks companies with strong free cash flow in healthy industries that may benefit from global restructuring and growth.
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 7/31/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -1.44% -8.42% 3.71% 3.38% 4.47% 4.87%
Fund with 5.75% sales charge -7.12% -13.66% 1.69% 2.16% 3.85% 4.54%
MSCI EAFE NR USD 0.42% -7.53% 2.00% 3.02% 1.98% N/A
Lipper International Large-Cap Core 1.06% -8.25% 0.53% 1.71% 1.69% N/A
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 6/30/2016
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -5.27% -12.56% 4.03% 2.23% 4.09% 4.67%
Fund with 5.75% sales charge -10.73% -17.58% 2.00% 1.03% 3.47% 4.35%
MSCI EAFE NR USD -4.42% -10.16% 2.06% 1.68% 1.58% N/A
Lipper International Large-Cap Core -2.91% -11.09% 0.80% 0.54% 1.39% N/A
Expense Ratios
as of 7/31/2016
Net 1.31%
Gross 1.31%
Growth of a $10,000 Investment
through 7/31/2016
 International Core Equity A

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 7/31/2016
Category: International Large-Cap Core
  Rank Percentile
1 Year 62 / 126 49
3 Year 4 / 106 4
5 Year 12 / 99 12
10 Year 2 / 72 3

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

Morningstar Ratings
as of 7/31/2016
Category: Foreign Large Blend
Overall (out of 715 Foreign Large Blend)
3 Year (out of 715 Foreign Large Blend)
5 Year (out of 625 Foreign Large Blend)
10 Year (out of 376 Foreign Large Blend)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 7/31/2016)
Foreign Common Stock 94.65%
Cash and Cash Equivalents 2.57%
Domestic Common Stock 2.29%
Preferred Stock 0.49%
Sector Allocation
(as a % of equity holdings as of 7/31/2016)
Financials 18.5%
Health Care 16.0%
Consumer Discretionary 14.2%
Industrials 14.1%
Information Technology 9.1%
Materials 8.4%
Energy 7.3%
Consumer Staples 7.3%
Telecommunication Services 5.0%
Equity Country Allocation
(as a % of equity holdings as of 7/31/2016)
Japan 20.5%
United Kingdom 18.2%
Germany 7.7%
Switzerland 7.0%
France 6.6%
Ireland 5.3%
Australia 4.4%
China 4.0%
Sweden 3.2%
Hong Kong 3.0%
Finland 2.9%
United States 2.9%
Israel 2.8%
South Africa 1.9%
South Korea 1.8%
Spain 1.4%
Netherlands 1.3%
Denmark 1.2%
Canada 1.1%
Italy 1.1%
Luxembourg 0.8%
Brazil 0.7%
Taiwan 0.3%
Top 10 Equity Holdings
(as a % of net assets as of 7/31/2016)
SoftBank Group Corp. 3.74%
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 2.76%
Bridgestone Corp. 2.43%
Shire plc (Shire) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.Shire Pharmaceuticals Group plc ADR 2.30%
Fresenius SE is a Germany-based holding company of the Fresenius Group, operating in the healthcare sector, with products and services for dialysis, hospitals and outpatient medical care. The Group also offers engineering and services for hospitals and other healthcare facilities.Fresenius SE & Co. KGaA 2.24%
A hygiene and forest products company, develops, produces, and markets personal care products, tissues, and forest Svenska Cellulosa Aktiebolaget SCA (publ), Class B 2.18%
Global provider of defense and security products, including cyber services, military support, electronic systems and protection equipment.BAE Systems plc 2.13%
A comprehensive heavy machinery maker. Manufactures machinery, ships, turbines and engines, prime movers, aircrafts, and machine parts for military and commercial use. Mitsubishi Heavy Industries also researches and develops nuclear power plants.Mitsubishi Heavy Industries Ltd. 2.12%
Deutsche Post AG is a Germany-based holding company and logistics services provider. The Company operates four business divisions: Mail; Express; Global Forwarding, Freight, and Supply Chain.Deutsche Post AG 2.09%
Nokia OYJ 2.08%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 6/30/2016)
Top 10 Industry Allocation
(as a % of equity holdings as of 7/31/2016)
Pharmaceuticals 10.6%
Diversified Banks 8.5%
Life & Health Insurance 4.2%
Health Care Services 4.1%
Integrated Oil & Gas 3.9%
Wireless Telecommunication Service 3.8%
Automobile Manufacturers 3.8%
Aerospace & Defense 3.6%
Packaged Foods & Meats 3.2%
Construction Materials 3.2%

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 EAFE is an unmanaged index comprised of securities that represent the securities markets in Europe, Australasia and the Far East. 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.

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.

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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