Ivy Emerging Markets Equity Fund
- $12.02 NAV as of 12/2/2016
- ($-0.05) / -0.41% Daily NAV Change
- 6.75% YTD (NAV)
Pursue emerging market equities in any region of the world
- Global view
- Can invest in emerging markets in any region of the world; offers exposure to an alternative source of potential return and additional portfolio diversification.
- Equity focus
- Focuses on equity securities, primarily common stocks, of companies located in emerging market countries or economically linked to those countries.
- Disciplined process
- A balanced approach to top-down and bottom-up analysis seeks key countries and sectors for growth, supported by in-depth research to help identify stocks for the portfolio
Morningstar Style Box
Jonas M. Krumplys, CFA
- Ivy Investment Management Company
- 2 Years with Fund
- 35 Years in Industry
Mr. Krumplys was named portfolio manager of the Fund in March 2014. He holds a B.S. in architecture from the University of Illinois and studied at Ecole d’ Architecture de Versailles-Versailles, France. He also holds an M.S. in chemical engineering from the University of Illinois-Chicago and an MBA from the University of Chicago’s Graduate School of Business. Mr. Krumplys worked as an investment analyst with Waddell & Reed from 1988 through 1991. He rejoined the company in 2006 and was named assistant portfolio manager on Ivy Asset Strategy Fund in April 2008. Mr. Krumplys was portfolio manager of Ivy Asset Strategy New Opportunities Fund from May 2010 to March 2014.
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.
Brazil recently resolved a long-running national trauma by impeaching its president and confirming her replacement. The action opens the door for new efforts to revive the country’s economy.
Daily Prices as of 12/2/2016
|Net Asset Value (NAV)||$12.02|
|Daily NAV Change ($)||($-0.05)||-0.41%|
|Weekly NAV Change ($)||$-0.07||-0.58%|
|Public Offering Price (POP)||$12.02|
|Fiscal Year End||March|
|Fund Assets (as of 10/31/2016)||$613.4 mil|
|Total Equity Holdings (as of 10/31/2016)||62|
|Total Holdings (as of 10/31/2016)||64|
|Portfolio Turnover Rate|
|Lipper Category||Emerging Markets Funds|
|Morningstar Category||Diversified Emerging Mkts|
|Benchmark||MSCI EM NR 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.
Performance at NAV does not include the effect of sales charges. Class B shares, including sales charge, reflects the applicable contingent deferred sales charge (CDSC), which declines from 5% at the time of purchase to zero at the beginning of the seventh year.
Monthly Rates of Return
|Fund with maximum 5.00% CDSC||4.06%||0.41%||-1.97%||2.04%||1.97%||3.57%|
|Fund at NAV||9.06%||4.41%||-0.97%||2.22%||1.97%||3.57%|
Quarterly Rates of Return
|Fund with maximum 5.00% CDSC||10.45%||13.27%||2.75%||4.93%||3.83%||3.84%|
|Lipper Emerging Markets Funds||14.19%||14.91%||-0.75%||3.36%||3.49%||—|
|Fund at NAV||15.45%||17.27%||3.69%||5.10%||3.83%||3.84%|
|MSCI EM NR USD||16.02%||16.78%||-0.56%||3.03%||3.94%||—|
Calendar Year Return
|MSCI EM NR USD||-18.42||18.22||-2.60||-2.19||-14.92|
Morningstar Ratings as of 10/31/2016
|Ratings are based on risk-adjusted returns|
|Overall out of 612|
|3 Year out of 612|
|5 Year out of 449|
|10 Year out of 195|
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
|MSCI EM NR USD||17.35|
5-Year MPT* Statistics as of 9/30/2016
|*Modern Portfolio Theory|
Historical Prices Inception 10/25/1993
|Date||Price||Dividend Reinvest Date||Capital Gain Reinvest Date|
Historical Distributions Inception 10/25/1993
|Ex-date||Income||Capital Gains||Reinvest Gains||Payment Date|
|12/10/2015||$0.0657||Long: $0.000 Short: $0.000||$11.25||12/10/2015|
|12/13/2012||$0.0048||Long: $0.000 Short: $0.000||$11.89||12/13/2012|
|12/8/2011||$0||Long: $0.522 Short: $0.000||$10.91||12/8/2011|
|12/11/2008||$0||Long: $1.230 Short: $0.562||$7.53||12/11/2008|
|12/13/2007||$0||Long: $0.475 Short: $1.379||$19.55||12/13/2007|
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.
Top 10 Equity Holdings as a % of net assets 10/31/2016
|Samsung Electronics Co. Ltd.||Samsung Electronics Co., Ltd. is a Korea-based company engaged in the provision of consumer electronics, communication products, semiconductor products and home appliances.||5.43%|
|Petroleo Brasileiro S.A.||4.13%|
|Sberbank of Russia ADR||Largest bank in Russia and Eastern Europe, headquartered in Moscow||3.76%|
|Taiwan Semiconductor Manufacturing Co. Ltd.||Taiwan Semiconductor Manufacturing is the world's largest dedicated semiconductor foundry, offering advanced wafer production processes and manufacturing.||3.68%|
|Raia Drogasil S.A.||Raia Drogasil S.A. operates as a pharmaceutical retail chain in Brazil. The company also offers hair and body beauty products.||3.68%|
|Alibaba Group Holding Ltd. ADR||3.45%|
|Naspers Ltd., Class N||Naspers Limited is a multinational media company with principal operations in electronic media and print media.||2.95%|
|Tencent Holdings Ltd.||An investment holding company, provides Internet and mobile value-added services (VAS), online advertising services, and e-commerce transactions services to users in China, the United States, Europe, and internationally.||2.68%|
|Largan Precision Co. Ltd.||2.45%|
|Maruti Suzuki India Ltd.||Manufacturer and servicer of passenger cars in India||2.38%|
as a % of equity assets as of 11/30/2016
|Median Market Cap (as of 10/31/2016)||$11.1 bil|
Top 10 Industry Allocation
as a % of Equity Holdings as of 10/31/2016
|Internet Software & Services||15.1%|
|Integrated Oil & Gas||6.6%|
|Cable & Satellite||3.0%|
as a % of equity assets as of 10/31/2016
as a % of net assets as of 10/31/2016
|Foreign Common Stock||98.05%|
|Domestic Common Stock||1.24%|
|Cash and Cash Equivalents||0.71%|
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. 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. 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. 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.
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.
Index Description: MSCI Emerging Markets is an unmanaged index comprised of securities that represent large and mid-cap companies within emerging market countries. It is not possible to invest directly in an index.
Effective Feb. 11, 2014, 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.
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.
Investments in countries with emerging economies or securities markets may carry greater risk than investments in more developed countries. Political and economic structures in many such countries may be undergoing significant evolution and rapid development, and such countries may lack the social, political and economic stability characteristic of more developed countries.
On March 17, 2014, Ivy Asset Strategy New Opportunities Fund merged into Ivy Emerging Markets Equity Fund. The Ivy Asset Strategy New Opportunities Fund has been liquidated and has terminated operations as a management investment company.
Fee Waiver and/or Expense Reimbursement: Through July 31, 2017, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Funds Distributor, Inc. (IFDI), 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 Class A shares at 1.50% and Class B shares at 2.50%. Prior to that date, the expense limitation may not be terminated by IICO, IFDI, WISC or the Board of Trustees.
Through July 31, 2017, IFDI 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 IFDI, 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.
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.
Information is subject to change and is not intended to represent any past or future investment recommendations.
Frederick Jiang, CFA, previously was a portfolio manager on the Fund. He left the company effective May 14, 2016.
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.