Waddell & Reed

Fund Detail

WRA Dividend Opportunities Fund
Class A Shares

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Fund Facts
Ticker Symbol WDVAX
CUSIP 93005P104
Fund Code 676
Fund Type Domestic Equity
Fund Inception 7/1/2003
Class Inception 7/1/2003
Fiscal Year End June
Dividends Paid March, June, September, December
Fund Assets (as of 4/30/2016) $566.1 mil
Total Equity Holdings (as of 4/30/2016) 46
Total Holdings (as of 4/30/2016) 57
Portfolio Turnover Rate (as of 12/31/2015) 23%
Lipper Category Equity Income Funds
Morningstar Category Large Blend
Benchmarks Russell 1000 TR USD
Daily Prices
as of 5/27/2016
Net Asset Value (NAV) $15.03
NAV Change ($) $0.08
NAV Change (%) 0.54%
Weekly NAV Change ($) $0.30
Weekly NAV Change (%) 2.04%
Public Offering Price (POP) $15.95
Historical Prices & Distributions
Please select a date
Fund Description

Dividend growth: A path to compound opportunities

Fund description
Seeks financially sound large-cap companies from a diverse mix of sectors that has the potential to pay solid dividends or are likely to increase dividends over a 3- to 5-year time horizon.
Management discipline
Focuses on dividend growth using fundamental analysis and rigorous screening.
Potential benefits
Offers equity diversification through a portfolio of companies with proven cash flows and exposure to stocks that have the potential to hold up better in an economic downturn than non-dividend-paying stocks. Diversification cannot ensure a profit or protect against loss in a declining market.
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 0.07% -2.79% 7.77% 6.41% 4.75% 7.23%
Fund with 5.75% sales charge -5.69% -8.39% 5.67% 5.16% 4.13% 6.73%
Russell 1000 TR USD 1.72% 0.34% 11.06% 10.81% 6.99% 8.48%
Lipper Equity Income Funds 3.89% -1.47% 7.42% 8.22% 5.96% 7.75%
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 -1.76% -4.57% 7.70% 6.40% 4.91% 7.12%
Fund with 5.75% sales charge -7.41% -10.07% 5.59% 5.14% 4.29% 6.62%
Russell 1000 TR USD 1.17% 0.50% 11.52% 11.35% 7.06% 8.50%
Lipper Equity Income Funds 2.86% -1.48% 7.83% 8.64% 6.04% 7.72%
Expense Ratios
as of 10/30/2015
Net 1.23%
Gross 1.23%
12-Month Trailing Distribution Yield
as of 4/30/2016
NAV 0.64%
With sales charge 0.61%
Annualized 30-Day SEC Yield
as of 4/30/2016
Subsidized 1.15%
Unsubsidized 1.15%
Growth of a $10,000 Investment
through 4/30/2016
 Dividend Opportunities A
 Russell 1000 TR 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 4/30/2016
Category: Equity Income Funds
  Rank Percentile
1 Year 334 / 513 65
3 Year 200 / 415 49
5 Year 260 / 309 84
10 Year 157 / 204 77

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

Morningstar Ratings
as of 4/30/2016
Category: Large Blend
Overall (out of 1374 Large Blend)
3 Year (out of 1374 Large Blend)
5 Year (out of 1202 Large Blend)
10 Year (out of 880 Large Blend)

Ratings are based on risk-adjusted returns.

Portfolio Composition
(as a % of net assets as of 4/30/2016)
Domestic Common Stock 77.05%
Foreign Common Stock 13.58%
Cash and Cash Equivalents 9.37%
Sector Allocation
(as a % of equity holdings as of 4/30/2016)
Financials 20.1%
Health Care 17.0%
Industrials 14.4%
Information Technology 13.9%
Consumer Discretionary 10.9%
Consumer Staples 9.3%
Energy 6.5%
Materials 5.9%
Utilities 2.2%
Equity Country Allocation
(as a % of equity holdings as of 4/30/2016)
United States 85.0%
Israel 4.3%
United Kingdom 3.3%
Ireland 2.7%
Switzerland 1.9%
Belgium 1.7%
Canada 1.0%
Top 10 Equity Holdings
(as a % of net assets as of 4/30/2016)
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. 5.13%
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 3.92%
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company.JPMorgan Chase & Co. 3.74%
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. 3.70%
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. 2.69%
American International Group, Inc. (AIG) is an international insurance company with customers in over 130 countries. The Company serves commercial, institutional, individual customers through property-casualty networks of any insurer, and provides life insurance, retirement services in the U.S.American International Group, Inc. 2.64%
General Electric Company (GE) is a diversified technology and financial services corporation. The products and services of the Company range from aircraft engines, power generation, water processing, household appliances to medical imaging, business and consumer financing and industrial products.General Electric Co. 2.58%
A healthcare solutions company, provides medical technologies, services, and solutions worldwide. It operates through Medtronic, Inc. 2.45%
CVS Caremark Corp (CVS Caremark) is a health care provider in the United States. It is a pharmacy services company, providing value for its customers by managing pharmaceutical costs and improving health care outcomes through its pharmacy benefit management, mail order, specialty pharmacy division.CVS Caremark Corp. 2.45%
Crown Castle International Corp. 2.38%
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 12.5%
Other Diversified Financial Services 6.7%
Aerospace & Defense 4.5%
Systems Software 4.1%
Semiconductors 3.7%
Integrated Oil & Gas 3.1%
Tobacco 3.0%
Multi-Line Insurance 2.9%
Industrial Conglomerates 2.9%
Drug Retail 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: Russell 1000 is an unmanaged index comprised of securities that represent the stock market. It is not possible to invest directly in an index.

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.

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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