Waddell & Reed

Fund Detail

Ivy Managed International Opportunities Fund
Class A Shares

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Fund Facts
Ticker Symbol IVTAX
CUSIP 465898229
Fund Code 695
Fund Type Global/International
Fund Inception 4/2/2007
Class Inception 4/2/2007
Fiscal Year End March
Dividends Paid December
Fund Assets (as of 8/31/2015) $215.7 mil
Portfolio Turnover Rate (as of 3/31/2015) 4%
Lipper Category International Multi-Cap Core
Morningstar Category Foreign Large Blend
Daily Prices
as of 10/6/2015
Net Asset Value (NAV) $9.79
NAV Change ($) $0.02
NAV Change (%) 0.20%
Weekly NAV Change ($) $0.17
Weekly NAV Change (%) 1.77%
Public Offering Price (POP) $10.39
Historical Prices & Distributions
Please select a date
Fund Description

Improve your mix of overseas investments

Streamlined approach
Participate in potential growth around the world through international asset allocation in a single mutual fund.
Diversified portfolio
Seeks to provide a diversified portfolio of international equities and fixed-income securities by investing in five international and global mutual funds from Ivy Funds.
Investment discipline
May be right for long-term investors seeking to benefit from a well-defined, consistent investment mix for international portfolio diversification.
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 9/30/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -5.97% -6.27% 4.57% 2.71% N/A 1.29%
Fund with 5.75% sales charge -11.35% -11.63% 2.54% 1.49% N/A 0.59%
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 9/30/2015
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -5.97% -6.27% 4.57% 2.71% N/A 1.29%
Fund with 5.75% sales charge -11.35% -11.63% 2.54% 1.49% N/A 0.59%
Expense Ratios
as of 7/31/2015
Net 1.61%
Gross 1.61%
Growth of a $10,000 Investment
through 9/30/2015

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 8/31/2015
Category: International Multi-Cap Core
  Rank Percentile
1 Year 129 / 381 34
3 Year 194 / 321 61
5 Year 225 / 278 81

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

Morningstar Ratings
as of 8/31/2015
Category: Foreign Large Blend
Overall (out of 683 Foreign Large Blend)
3 Year (out of 683 Foreign Large Blend)
5 Year (out of 587 Foreign Large Blend)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 8/31/2015)
Foreign Common Stock 70.77%
Domestic Common Stock 18.58%
Cash and Cash Equivalents 5.44%
Corporate Bonds 3.96%
Other Government Securities 0.56%
Senior Loans 0.41%
Preferred Stock 0.28%
Other Financial Instruments 0.00%
Underlying Fund Composition
(as a % of net assets as of 8/31/2015)
Ivy International Core Equity 29.9 %
Ivy Global Growth 25.0 %
Ivy European Opportunities 20.1 %
Ivy Global Income Allocation 15.2 %
Ivy Emerging Markets Equity 9.7 %
Portfolio Allocation Ranges
(as of the most recent prospectus)
  Low High
Ivy Global Growth 10.0% 60.0%
Ivy Global Income Allocation 10.0% 60.0%
Ivy European Opportunities 10.0% 60.0%
Ivy Emerging Markets Equity 10.0% 60.0%
Ivy International Core Equity 10.0% 60.0%

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: MSCI AC World Ex USA Index captures large and mid cap representation across 22 of 23 Developed Markets (DM) countries (excluding the US) and 23 Emerging Markets (EM) countries. 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.

On March 17, 2014, Ivy Managed European/Pacific Fund merged into Ivy Managed International Opportunities Fund. The Ivy Managed European/Pacific Fund has been liquidated and has terminated operations as a management investment company.

Effective Feb. 11, 2014, the name of one of the Fund's underlying funds, Ivy Pacific Opportunities Fund, was changed to Ivy Emerging Markets Equity Fund and its strategy was changed to reflect a concentration in emerging market equity securities. Performance prior to such time in part reflects the Ivy Pacific Opportunities Fund's former strategy to invest primarily in Pacific region equity securities, and the Fund's performance may have differed if the Ivy Emerging Markets Equity Fund's current strategy had been in place.

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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