Select a Fund Family and Share Class
Go

Ivy Crossover Credit Fund

  • $10.08 NAV as of 4/21/2017
  • ($0.00) / 0.00% Daily NAV Change
  • YTD (NAV)

Summary

The Ivy Crossover Credit Fund looks to provide total return through a combination of high current income and capital appreciation.

Crossover potential
A "crossover credit" strategy is designed to provide exposure to both investment grade and non-investment grade fixed income securities. "Crossover" debt generally refers to bonds rated at or near the point where the lower end of investment grade debt and the higher end of high yield debt meet.
Ratings
Investment grade bonds include bonds rated BBB- or higher. Non-investment grade debt securities, commonly called "high yield" or "junk" bonds, include bonds rated BB+ or lower.
Experienced management
Rick Perry has 24 years experience in the industry managing both high yield and investment-grade credit portfolios.

Portfolio Management

Rick Perry, CFA

  • Ivy Investment Management Company
  • 1 Year with Fund
  • 24 Years in Industry
Toggle Section

Mr. Perry graduated in 1989 with a BA in accounting and business management from Central College. In 1992, he earned an MBA with a concentration in investments from the University of Iowa. Prior to joining the firm, he was a portfolio manager with Aegon USA Investment Management, where he served as the head of investment grade credit since 2006. He joined Aegon in 2001 and was named director of credit research in 2002. Prior to that, he was high-yield portfolio manager with ING Investment Management. He started his investment management career at Equitable Investment Services in 1993, where he held various positions including high-yield portfolio manager. Mr. Perry also has a CPA designation and worked for two years at McGladrey & Pullen CPA's after receiving his master's degree.

Perspectives

Blue banner

Fallen Angels Offer Opportunity in Credit Market

In most credit cycles, the market hits a point when credit rating downgrades far exceed upgrades. This ratings migration process can significantly impact the valuations of securities, particularly when credits are downgraded from a rating of investment grade to high yield.

Daily Prices as of 4/21/2017

Net Asset Value (NAV) $10.08
Daily NAV Change ($) ($0.00) 0.00%
Weekly NAV Change ($) $0.00 0.00%
Public Offering Price (POP) $10.08

Fund Facts

Ticker Symbol ICKYX
CUSIP 46600B664
Fund Code 779
Fund Type Fixed Income Funds
Fund Inception 4/3/2017
Class Inception 4/3/2017
Fiscal Year End September
Dividends Paid Monthly
Fund Assets (as of 4/3/2017) $25 mil
Morningstar Category Corporate Bond

Performance

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

Average Annual Total Returns as of 3/31/2017
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV

Quarterly Rates of Return

Average Annual Total Returns as of 3/31/2017
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV

Expense Ratios as of 4/3/2017

Net 0.90%
Gross 1.08%

Distributions

Historical Prices Inception 4/3/2017

4/3/2017 $10.00 NO NO
4/4/2017 $10.01 NO NO
4/5/2017 $10.03 NO NO
4/6/2017 $10.02 NO NO
4/7/2017 $9.99 NO NO
4/10/2017 $10.01 NO NO
4/11/2017 $10.04 NO NO
4/12/2017 $10.07 NO NO
4/13/2017 $10.08 NO NO
4/17/2017 $10.07 NO NO
4/18/2017 $10.12 NO NO
4/19/2017 $10.09 NO NO
4/20/2017 $10.08 NO NO
4/21/2017 $10.08 NO NO

Historical Distributions Inception 4/3/2017

No results found.

*Special Dividend
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.

Portfolio

Documents

Select a document below to view or download.

Documents

Risk factors: The value of the Funds’ shares will change, and you could lose money on your investment. Fixed income securities in which the fund may invest are subject to credit risk, such that an issuer may not make payments when due or default or that the risk that an issuer could suffer adverse changes in its financial condition that could lower the credit quality of a security that could affect the Fund’s performance. A rise in interest rates may cause a decline in the value of the Fund’s securities, especially securities with longer maturities. Investing in below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. Investing in foreign securities involves a number of economic, financial, legal, and political considerations that are not associated with the U.S. markets and that could affect the Fund’s performance unfavorably, depending upon the prevailing conditions at any given time. Mortgage-backed and asset-backed securities in which the Fund may invest are subject to prepayment risk and extension risk. The Fund typically holds a limited number of fixed income securities (generally 30 to 50). As a result, the appreciation or depreciation of any one security held by the Fund may have a greater impact on the Fund’s NAV than it would if the Fund invested in a larger number of securities. Fund performance is primarily dependent on the management company’s skill in evaluating and managing the Fund’s portfolio. There can be no guarantee that its decisions will produce the desired results. 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.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, 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 (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) for the Fund's Class A shares at 0.90%, Class I shares at 0.65%, Class R shares at 1.40%, Class N shares at 0.65%, Class Y shares at 0.90%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

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.

When a fund's share class has less than a year of performance to report, the returns shown are cumulative.

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.

Market Data powered by Wikinvest. Data is provided as-is, delayed, and subject to Terms