Ivy Asset Strategy Fund
- $20.57 NAV as of 12/2/2016
- ($0.00) / 0.00% Daily NAV Change
- -6.46% YTD (NAV)
Providing flexibility and discipline in changing markets
- Portfolio management team seeks investment opportunities worldwide. Themes currently include consumer-led growth in the U.S. economy, innovations in technology and expansion of the middle class in emerging markets.
- Unlike some traditional balanced or asset allocation strategies, the Fund is not restricted to predefined percentages in any major asset class. That flexibility also helps it manage today’s increasing market volatility.
- The Fund is an innovator in flexible global asset allocation and is managed by an experienced team with a long-term focus.
Morningstar Style Box
Cynthia P. Prince-Fox
- Ivy Investment Management Company
- 2 Years with Fund
- 33 Years in Industry
Cynthia P. Prince-Fox is a senior vice president of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Ms. Prince-Fox joined the firm in 1983 as an equity investment analyst. In 1991, she assumed the role of assistant portfolio manager. In 1993, she was appointed portfolio manager of Waddell & Reed Advisors Continental Income Fund. In July 2013, Ms. Prince-Fox was named portfolio manager of the Waddell & Reed Advisors Dividend Opportunities Fund. She graduated in 1982 from St. Mary's University at San Antonio, Texas with a BBA degree in finance. She earned an MBA with an emphasis in finance from Rockhurst College in 1989.
Chace Brundige, CFA
- Ivy Investment Management Company
- 2 Years with Fund
- 23 Years in Industry
Chace Brundige, CFA is a Senior Vice President of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Mr. Brundige graduated from Kansas State University in 1991 with a BS in finance. He earned an MBA with an emphasis in finance and accounting from the University of Chicago Graduate School of Business in 1996. Mr. Brundige began his investment career at UMB Financial Corp. in 1991. In 1996 he joined Waddell & Reed as an equity investment analyst. Mr. Brundige joined TCW/WestBridge Ventures LLC in San Francisco as a vice president and limited partner in 1999. Mr. Brundige rejoined Waddell & Reed in August 2003 as an assistant portfolio manager to the large cap growth team. He managed the Waddell & Reed Advisors Tax-Managed Equity Fund from February 2006 through December 2008. Mr. Brundige assumed portfolio manager responsibility for the Waddell & Reed Advisors International Growth Fund, Ivy Funds VIP International Growth (formerly W&R Target Funds International Growth Portfolio), and the Ivy International Growth Fund in January 2009. In August 2014, Mr. Brundige was appointed portfolio manager of the Ivy Asset Strategy Fund, Ivy Funds VIP Asset Strategy Fund and Waddell & Reed Advisors Asset Strategy Fund.
Growth of a $10,000 Investment
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.
It’s difficult to find clarity and predictability in today’s markets. We continue to believe the risks of growing global debt are real, but markets seem content to shrug off those risks and grind higher.
Daily Prices as of 12/2/2016
|Net Asset Value (NAV)||$20.57|
|Daily NAV Change ($)||($0.00)||0.00%|
|Weekly NAV Change ($)||$-0.10||-0.48%|
|Public Offering Price (POP)||$20.57|
|Fund Type||Specialty Funds|
|Fiscal Year End||March|
|Dividends Paid||March, June, September, December|
|Fund Assets (as of 10/31/2016)||$5.9 bil|
|Total Equity Holdings (as of 10/31/2016)||64|
|Total Holdings (as of 10/31/2016)||126|
|Portfolio Turnover Rate|
|Lipper Category||Alternative Global Macro Funds|
|Morningstar Category||World Allocation|
|Benchmark||S&P 500 TR USD|
|Benchmark||Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD|
|Benchmark||Bloomberg Barclays US Agg Bond TR USD|
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.
Class Y shares are not subject to sales charges.
Monthly Rates of Return
|Fund at NAV||-6.14%||-8.69%||-5.45%||2.87%||4.79%||8.16%|
Quarterly Rates of Return
|Fund at NAV||-4.18%||-1.60%||-2.97%||5.75%||5.57%||8.34%|
|Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD||0.19%||0.21%||0.08%||0.07%||0.84%||—|
|Lipper Alternative Global Macro Funds||4.97%||5.31%||1.30%||3.80%||3.56%||—|
|Bloomberg Barclays US Agg Bond TR USD||5.80%||5.19%||4.03%||3.08%||4.79%||5.43%|
|S&P 500 TR USD||7.84%||15.43%||11.16%||16.37%||7.24%||8.28%|
Calendar Year Return
|Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD||0.07||0.08||0.05||0.02||0.03|
|S&P 500 TR USD||2.11||16.00||32.39||13.69||1.38|
|Bloomberg Barclays US Agg Bond TR USD||7.84||4.21||-2.02||5.97||0.55|
Morningstar Ratings as of 10/31/2016
|Ratings are based on risk-adjusted returns|
|Overall out of 477|
|3 Year out of 477|
|5 Year out of 382|
|10 Year out of 180|
Lipper Ranking through 10/31/2016
|Rankings are based on average annual total returns, but do not consider sales charges.|
Expense Ratios as of 7/31/2016
5-Year Standard Deviation as of 9/30/2016
|S&P 500 TR USD||11.12|
|Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD||N/A|
|Bloomberg Barclays US Agg Bond TR USD||2.66|
5-Year MPT* Statistics as of 9/30/2016
|*Modern Portfolio Theory|
Historical Prices Inception 12/29/1995
|Date||Price||Dividend Reinvest Date||Capital Gain Reinvest Date|
Historical Distributions Inception 12/29/1995
|Ex-date||Income||Capital Gains||Reinvest Gains||Payment Date|
|12/10/2015||$0.0586||Long: $1.369 Short: $0.000||$22.33||12/10/2015|
|12/11/2014||$0.1226||Long: $4.849 Short: $0.000||$25.8||12/11/2014|
|12/12/2013||$0.15||Long: $0.000 Short: $0.000||$30.99||12/12/2013|
|12/13/2012||$0.6715||Long: $0.000 Short: $0.000||$25.5||12/13/2012|
|12/8/2011||$0.2804||Long: $0.000 Short: $0.000||$22.78||12/8/2011|
The table includes the daily prices at NAV (net asset value) for the history of this fund's selected share class. NAV is the amount per share you would receive if you sold shares that day.
12-Month Trailing Dist. Yield as of 10/31/2016
|With Sales Charge||0.27%|
Annualized 30-Day SEC Yield as of 10/31/2016
|Subsidized - NAV||1.61%|
|Unsubsidized - NAV||1.61%|
Top 10 Equity Holdings as a % of net assets 10/31/2016
|Microsoft Corp.||Microsoft Corporation is a multinational computer technology corporation that develops, manufactures, licenses and supports a wide range of software products for computing devices.||2.21%|
|Kraft Foods Group, Inc.||The Kraft Heinz Company is the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world, with eight $1 billion+ brands.||2.07%|
|Halliburton Co.||Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and gas properties worldwide.||1.83%|
|Adobe Systems, Inc.||Adobe Systems Incorporated operates as a diversified software company worldwide. It operates in three segments: Digital Media, Digital Marketing, and Print and Publishing.||1.72%|
|JPMorgan Chase & Co.||JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company.||1.69%|
|Alphabet, Inc., Class A||Alphabet Inc through its subsidiary Google Inc is engaged in improving the ways people connect with information & products including Search, Android, YouTube, Apps, Maps & Ads. It also produces internet-connected home devices & provides internet services.||1.55%|
|Intuit, Inc.||Intuit Inc. provides business and financial management solutions for small and medium-sized businesses, consumers, accounting professionals, financial institutions. Its products and services simplify small business management and payroll processing, personal finance, tax preparation and filing.||1.48%|
|Citigroup, Inc.||Citigroup Inc. (Citigroup) is a global diversified financial services holding company. Citigroup businesses provide consumers, corporations, governments and institutions with a range of financial products and services.||1.46%|
|Home Depot, Inc. (The)||The Home Depot, Inc. (The Home Depot) is a home improvement retailer. The Home Depot stores sell an assortment of building materials, home improvement and lawn and garden products and provide a number of services.||1.46%|
as a % of equity assets as of 11/30/2016
|Median Market Cap (as of 10/31/2016)||$49.8 bil|
Top 10 Industry Allocation
as a % of Equity Holdings as of 10/31/2016
|Internet Software & Services||6.6%|
|Packaged Foods & Meats||5.6%|
|Other Diversified Financial Services||5.3%|
|Oil & Gas Equipment & Services||5.0%|
|Oil & Gas Exploration & Production||5.0%|
as a % of fixed income assets as of 9/30/2016
|Average Maturity||20.96 years|
|Effective Duration||7.21 years|
Fixed Income Country Allocation
as a % of bond holdings as of 10/31/2016
as a % of equity assets as of 10/31/2016
as a % of fixed income assets as of 10/31/2016
|Quality: 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.|
as a % of net assets as of 10/31/2016
|Domestic Common Stock||44.61%|
|Foreign Common Stock||14.96%|
|Cash and Cash Equivalents||6.98%|
|Other Government Securities||6.50%|
Equity Country Allocation
as a % of equity assets as of 10/31/2016
Risk factors. The value of the Fund’s shares will change, and you could lose money on your investment. The Fund may allocate from 0 to 100% of its assets between stocks, bonds and short-term instruments of issuers around the globe, as well as investments in precious metals and investments with exposure to various foreign securities. International investing involves additional risks, including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These risks are magnified in emerging markets. Fixed-income securities are subject to interest-rate risk and, as such, the net asset value of the Fund may fall as interest rates rise. Investing in high-income securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. The Fund may focus its investments in certain regions or industries, thereby increasing its potential vulnerability to market volatility. The Fund may seek to hedge market risk on various securities, increase exposure to various markets, manage exposure to various foreign currencies, precious metals and various markets, and seek to hedge certain event risks on positions held by the Fund via the use of derivative instruments. Such investments involve additional risks, as the fluctuations in the values of the derivatives may not correlate perfectly with the overall securities markets or with the underlying asset from which the derivative’s value is derived. Investing in commodities is generally considered speculative because of the significant potential for investment loss due to cyclical economic conditions, sudden political events, and adverse international monetary policies. Markets for commodities are likely to be volatile and the Fund may pay more to store and accurately value its commodity holdings than it does with the Fund’s other holdings. 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.
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: S&P 500 - An unmanaged index of common stocks. It is not possible to invest directly in an index.
Index Description: The Barclays U.S. Treasury Bills: 1-3 Month Index - Includes all publicly issued zero-coupon U.S. Treasury Bills that have a remaining maturity of less than 3 months and more than 1 month, are rated investment grade, and have $250 million or more of outstanding face value. In addition, the securities are denominated in U.S. dollars and are fixed rate and non-convertible. It is not possible to invest directly in an index.
Index Description: The Barclays U.S. Aggregate Bond TR USD Index - A market capitalization-weighted index, representing most U.S. traded investment grade bonds. 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.
Fee Waiver and/or Expense Reimbursement: Through July 31, 2017, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributor, Inc. (IDI), the Fund’s Distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses for the Fund’s Class E shares at 1.00%. Prior to that date, the expense limitation may not be terminated by IICO, IDI, WISC or the Board of Trustees
Through July 31, 2017, IDI 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 IDI, WISC or the Board of Trustees.
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. YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.
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.
Alpha, Beta, R-Squared, Standard Deviation, Sharpe Ratio and Capture Ratio are 5 year statistics. Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta). Beta reflects the sensitivity of the fund's return to fluctuations in the market index. R-squared indicates how much of a fund's fluctuations were attributable to movements in the fund's benchmark. Standard deviation is a measure of how volatile a fund's returns are. Sharpe ratio is a measure of a fund's risk-adjusted performance. Capture ratio reflects the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).
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.
Quality: 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.
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.