Waddell & Reed

Fund Detail

WRA Government Securities Fund
Class A Shares

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Fund Facts
Ticker Symbol UNGVX
CUSIP 930055108
Fund Code 753
Fund Type Fixed Income Funds
Fund Inception 4/10/1984
Class Inception 4/10/1984
Fiscal Year End September
Dividends Paid Daily, Paid Monthly
Fund Assets (as of 4/30/2013) $452.4 mil
Total Holdings (as of 4/30/2013) 75
Lipper Category General U.S. Government Fds
Morningstar Category Intermediate Government
Benchmarks Barclays US Govt/Mortgage TR USD
Daily Prices
as of 5/23/2013
Net Asset Value (NAV) $5.72
NAV Change ($) $0.01
NAV Change (%) 0.18%
Weekly NAV Change ($) ($0.01)
Weekly NAV Change (%) -0.17%
Public Offering Price (POP) $5.97
Historical Prices & Distributions
Please select a date
Fund Description
Fund Objective
To seek to provide current income consistent with preservation of capital.

Investment Approach
The Fund invests in a diversified portfolio of U.S. government securities, including securities issued by the Treasury and government agencies and mortgage-backed securities also issued by government agencies. Because the Fund owns different types of government fixed-income instruments, a variety of factors can affect its investment performance, such as an increase in interest rates, adverse bond and stock market conditions, and prepayment of higher-yielding bonds and mortgage-backed securities.
Morningstar Style Box
Morningstar Style Box
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 4/30/2013
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 0.70% 2.04% 3.84% 4.06% 3.77% 7.00%
Fund with 4.25% sales charge -3.58% -2.30% 2.35% 3.16% 3.32% 6.84%
Barclays US Govt/Mortgage TR USD
(as of 4/30/2013)
0.60% 2.22% 4.60% 5.06% 4.78% N/A
Lipper General U.S. Government Fds
(as of 4/30/2013)
0.48% 2.22% 4.64% 4.74% 3.99% N/A
Quarterly Rates of Return Average Annual Total Returns
as of 3/31/2013
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 0.04% 2.41% 3.88% 3.83% 3.75% 7.00%
Fund with 4.25% sales charge -4.21% -1.94% 2.39% 2.93% 3.30% 6.84%
Expense Ratios
as of 1/31/2013
Net 1.05%
Gross 1.05%
12-Month Trailing Distribution Yield
as of 4/30/2013
NAV 1.71%
With sales charge 1.64%
Annualized 30-Day SEC Yield
as of 4/30/2013
Subsidized 0.84%
Unsubsidized 0.79%
Growth of a $10,000 Investment
through 4/30/2013
 Government Securities A
 Barclays US Govt/Mortgage 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 4/30/2013
Category: General U.S. Government Fds
  Rank Percentile
1 Year 55 / 115 48
3 Year 65 / 110 59
5 Year 65 / 99 65
10 Year 44 / 80 55

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

Morningstar Ratings
as of 4/30/2013
Category: Intermediate Government
Overall (out of 320 Intermediate Government)
3 Year (out of 320 Intermediate Government)
5 Year (out of 292 Intermediate Government)
10 Year (out of 253 Intermediate Government)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 4/30/2013)
Government Bonds 93.75%
Corporate Bonds 3.97%
Cash and Cash Equivalents 2.28%
Quality
(as a % of bond holdings as of 4/30/2013)
Gov't 100.0 %
Maturity
(as a % of bond holdings as of 4/30/2013)
<1 Year 2.0 %
1-5 Years 32.1 %
5-10 Years 55.1 %
10-20 Years 7.8 %
>20 Years 3.0 %
Average Maturity 5.62 years
Effective Duration 5.06 years

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

Top 10 Holdings
(as a % of net assets as of 4/30/2013)
United States Treasury Notes, 3.1%, 5/15/2021 7.5%
United States Treasury Notes, 1.6%, 11/15/2022 5.5%
United States Treasury Notes, 3.63%, 8/15/2019United States Treasury Notes, 3.6%, 8/15/2019 3.9%
Federal Home Loan Bank, 3.5%, 7/29/2021 3.3%
United States Treasury Bonds, 9.00%, 11/15/2018United States Treasury Bonds, 9.0%, 11/15/2018 3.2%
United States Treasury Bonds, 4.4%, 5/15/2041 2.9%
Federal Home Loan Bank, 5.6%, 6/9/2017 2.6%
Private Export Funding Corporation, 4.4%, 3/15/2019 2.6%
Federal Home Loan Bank, 3.6%, 3/12/2021 2.5%
Federal Farm Credit Bank, 2.6%, 3/26/2021 2.5%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2013)

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 style boxes reveal a fund's investment strategy by displaying, for equity, the fund's investment style and the market capitalization of the stocks owned and for fixed income, the average credit quality of the bonds owned and the interest rate sensitivity, as measured by a bond's maturity.

Index Description: Barclays US Govt/Mortgage TR USD - The Barclays U.S. Government/Mortgage-Backed Securities Index measures the performance of U.S. government bonds and mortgage-related securities. 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.

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.

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