Ivy Global Bond Fund
- $9.50 NAV as of 12/7/2016
- ($0.02) / 0.21% Daily NAV Change
- 6.83% YTD (NAV)
Worldwide income potential
- Diversified income
- Invests in bonds issued by both developed and emerging markets, with the flexibility to invest in sovereign and corporate debt.
- “Reward-to-Risk Management”
- Investment strategy based on credit research, duration management and diversification.
- Low duration
- For capital protection and to reduce interest rate sensitivity, the Fund often invests in bonds with maturities of 1 to 5 years.
Morningstar Style Box
Mark G. Beischel, CFA
- Ivy Investment Management Company
- 8 Years with Fund
- 23 Years in Industry
Mark G. Beischel has worked in the industry since 1993. He joined the firm 10 years ago as an analyst specializing in taxable investment-grade corporate and emerging market credits. He has a BBA in management from the University of Wisconsin-Eau Claire and an MBA with an emphasis in finance from the University of Denver.
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.
Daily Prices as of 12/7/2016
|Net Asset Value (NAV)||$9.50|
|Daily NAV Change ($)||($0.02)||0.21%|
|Weekly NAV Change ($)||$0.05||0.53%|
|Public Offering Price (POP)||$9.50|
|Fund Type||Fixed Income Funds|
|Fiscal Year End||March|
|Fund Assets (as of 11/30/2016)||$162.8 mil|
|Total Equity Holdings|
|Total Holdings (as of 11/30/2016)||119|
|Portfolio Turnover Rate (as of 9/30/2016)||4%|
|Lipper Category||Global Income Funds|
|Morningstar Category||World Bond|
|Benchmark||Bloomberg Barclays Multiverse 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.
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||1.27%||0.09%||-0.81%||1.36%||—||2.04%|
|Bloomberg Barclays Multiverse TR USD||3.16%||3.58%||-0.10%||0.70%||3.34%||2.37%|
|Fund at NAV||6.27%||4.09%||0.14%||1.53%||—||2.04%|
Quarterly Rates of Return
|Fund with maximum 5.00% CDSC||2.08%||3.04%||-0.23%||1.80%||—||2.16%|
|Fund at NAV||7.08%||7.04%||0.72%||1.98%||—||2.16%|
|Lipper Global Income Funds||7.78%||6.96%||2.41%||2.58%||4.36%||3.60%|
|Bloomberg Barclays Multiverse TR USD||10.20%||9.23%||2.22%||1.97%||4.38%||3.22%|
Calendar Year Return
|Bloomberg Barclays Multiverse TR USD||5.55||4.84||-2.19||0.48||-3.29|
Morningstar Ratings as of 11/30/2016
|Ratings are based on risk-adjusted returns|
|Overall out of 319|
|3 Year out of 319|
|5 Year out of 235|
|10 Year out of —|
Lipper Ranking through 11/30/2016
|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
|Bloomberg Barclays Multiverse TR USD||4.22|
5-Year MPT* Statistics as of 9/30/2016
|*Modern Portfolio Theory|
Historical Prices Inception 4/4/2008
|Date||Price||Dividend Reinvest Date||Capital Gain Reinvest Date|
Historical Distributions Inception 4/4/2008
|Ex-date||Income||Capital Gains||Reinvest Gains||Payment Date|
|11/10/2016||$0.009||Long: $0.000 Short: $0.000||$9.45||11/10/2016|
|10/13/2016||$0.009||Long: $0.000 Short: $0.000||$9.55||10/13/2016|
|9/15/2016||$0.008||Long: $0.000 Short: $0.000||$9.5||9/15/2016|
|8/11/2016||$0.01||Long: $0.000 Short: $0.000||$9.5||8/11/2016|
|7/14/2016||$0.009||Long: $0.000 Short: $0.000||$9.49||7/14/2016|
|6/16/2016||$0.009||Long: $0.000 Short: $0.000||$9.32||6/16/2016|
|5/12/2016||$0.009||Long: $0.000 Short: $0.000||$9.28||5/12/2016|
|4/14/2016||$0.009||Long: $0.000 Short: $0.000||$9.23||4/14/2016|
|3/10/2016||$0.01||Long: $0.000 Short: $0.000||$9.04||3/10/2016|
|2/11/2016||$0.009||Long: $0.000 Short: $0.000||$8.8||2/11/2016|
|1/14/2016||$0.01||Long: $0.000 Short: $0.000||$8.9||1/14/2016|
|12/10/2015||$0.061||Long: $0.000 Short: $0.000||$9.05||12/10/2015|
|11/12/2015||$0.014||Long: $0.000 Short: $0.000||$9.25||11/12/2015|
|10/15/2015||$0.013||Long: $0.000 Short: $0.000||$9.26||10/15/2015|
|9/10/2015||$0.016||Long: $0.000 Short: $0.000||$9.24||9/10/2015|
|7/16/2015||$0.014||Long: $0.000 Short: $0.000||$9.58||7/16/2015|
|6/11/2015||$0.014||Long: $0.000 Short: $0.000||$9.67||6/11/2015|
|5/14/2015||$0.014||Long: $0.000 Short: $0.000||$9.74||5/14/2015|
|4/16/2015||$0.012||Long: $0.000 Short: $0.000||$9.71||4/16/2015|
|3/12/2015||$0.015||Long: $0.000 Short: $0.000||$9.55||3/12/2015|
|2/12/2015||$0.014||Long: $0.000 Short: $0.000||$9.53||2/12/2015|
|1/15/2015||$0.001||Long: $0.000 Short: $0.000||$9.47||1/15/2015|
|12/11/2014||$0.061||Long: $0.000 Short: $0.000||$9.63||12/11/2014|
|11/13/2014||$0.019||Long: $0.000 Short: $0.000||$9.99||11/13/2014|
|10/16/2014||$0.02||Long: $0.000 Short: $0.000||$9.96||10/16/2014|
|9/11/2014||$0.02||Long: $0.000 Short: $0.000||$10.14||9/11/2014|
|8/14/2014||$0.019||Long: $0.000 Short: $0.000||$10.15||8/14/2014|
|7/10/2014||$0.02||Long: $0.000 Short: $0.000||$10.23||7/10/2014|
|6/12/2014||$0.02||Long: $0.000 Short: $0.000||$10.2||6/12/2014|
|5/15/2014||$0.019||Long: $0.000 Short: $0.000||$10.15||5/15/2014|
|4/10/2014||$0.02||Long: $0.000 Short: $0.000||$10.07||4/10/2014|
|3/13/2014||$0.013||Long: $0.000 Short: $0.000||$9.96||3/13/2014|
|2/13/2014||$0.021||Long: $0.000 Short: $0.000||$9.96||2/13/2014|
|1/16/2014||$0.007||Long: $0.000 Short: $0.000||$10.01||1/16/2014|
|12/12/2013||$0.057||Long: $0.015 Short: $0.001||$9.96||12/12/2013|
|11/14/2013||$0.02||Long: $0.000 Short: $0.000||$10.05||11/14/2013|
|10/10/2013||$0.019||Long: $0.000 Short: $0.000||$10.01||10/10/2013|
|9/12/2013||$0.021||Long: $0.000 Short: $0.000||$9.88||9/12/2013|
|8/15/2013||$0.02||Long: $0.000 Short: $0.000||$9.94||8/15/2013|
|7/11/2013||$0.019||Long: $0.000 Short: $0.000||$9.95||7/11/2013|
|6/13/2013||$0.02||Long: $0.000 Short: $0.000||$10.06||6/13/2013|
|5/16/2013||$0.021||Long: $0.000 Short: $0.000||$10.26||5/16/2013|
|4/11/2013||$0.023||Long: $0.000 Short: $0.000||$10.26||4/11/2013|
|3/14/2013||$0.025||Long: $0.000 Short: $0.000||$10.26||3/14/2013|
|2/14/2013||$0.024||Long: $0.000 Short: $0.000||$10.27||2/14/2013|
|1/10/2013||$0.005||Long: $0.000 Short: $0.000||$10.26||1/10/2013|
|12/13/2012||$0.0926||Long: $0.008 Short: $0.025||$10.15||12/13/2012|
|11/15/2012||$0.025||Long: $0.000 Short: $0.000||$10.2||11/15/2012|
|10/11/2012||$0.025||Long: $0.000 Short: $0.000||$10.26||10/11/2012|
|9/13/2012||$0.025||Long: $0.000 Short: $0.000||$10.26||9/13/2012|
|8/16/2012||$0.024||Long: $0.000 Short: $0.000||$10.18||8/16/2012|
|7/12/2012||$0.024||Long: $0.000 Short: $0.000||$10.11||7/12/2012|
|6/14/2012||$0.023||Long: $0.000 Short: $0.000||$9.99||6/14/2012|
|5/10/2012||$0.024||Long: $0.000 Short: $0.000||$10.17||5/10/2012|
|4/12/2012||$0.024||Long: $0.000 Short: $0.000||$10.17||4/12/2012|
|3/15/2012||$0.024||Long: $0.000 Short: $0.000||$10.19||3/15/2012|
|2/16/2012||$0.023||Long: $0.000 Short: $0.000||$10.16||2/16/2012|
|1/12/2012||$0.009||Long: $0.000 Short: $0.000||$10.02||1/12/2012|
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 11/30/2016
|With Sales Charge||1.71%|
Annualized 30-Day SEC Yield as of 11/30/2016
|Subsidized - NAV||2.71%|
|Unsubsidized - NAV||2.27%|
Top 10 Holdings as a % of net assets 11/30/2016
|U.S. Treasury Notes, 0.9%, 2/28/2017||5.54%|
|U.S. Treasury Notes, 1.8%, 5/15/2022||3.32%|
|U.S. Treasury Notes, 2.6%, 11/15/2020||2.86%|
|State Bank of India, 3.3%, 4/18/2018||2.33%|
|CEMEX S.A.B. de C.V., 6.5%, 12/10/2019||2.32%|
|U.S. Treasury Notes, 2.1%, 8/15/2021||2.17%|
|CVS Health Corp., 0.7%, 12/1/2016||2.13%|
|Alliance Data Systems Corp., 5.3%, 12/1/2017||2.04%|
|T-Mobile USA, Inc., 6.0%, 3/1/2023||1.92%|
|OJSC Russian Agricultural Bank, 5.1%, 7/25/2018||1.86%|
as a % of fixed income assets as of 10/31/2016
|Average Maturity||3.99 years|
|Effective Duration||2.65 years|
Fixed Income Country Allocation
as a % of bond holdings as of 11/30/2016
|United Arab Emirates||1.4%|
|British Virgin Islands||0.5%|
as a % of fixed income assets as of 11/30/2016
|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 11/30/2016
|Cash and Cash Equivalents||5.80%|
|Foreign Common Stock||4.20%|
|Other Government Securities||3.00%|
|Domestic Common Stock||1.49%|
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. 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 below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. 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.
Stylebox: The Morningstar Fixed Income Style Box reveals a fund’s investment style. The vertical axis shows the credit quality of the bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond’s effective duration. Morningstar seeks credit rating information from fund companies on a periodic basis (e.g., quarterly). In compiling credit rating information, Morningstar instructs fund companies to only use ratings that have been assigned by a Nationally Recognized Statistical Rating Organization (NRSRO). If two NRSROs have rated a security, fund companies are to report the lowest rating; if three or more NRSROs have rated the same security differently, fund companies are to report the rating that is in the middle. Credit quality breakdowns are shown for corporate-bond holdings and depict the quality of bonds in the underlying portfolio. The report shows the percentage of fixed-income securities that fall within each credit quality rating as assigned by an NRSRO. Bonds not rated by an NRSRO are included in the not rated (NR) category. Please note: Morningstar, Inc. is not itself an NRSRO nor does it issue a credit rating on the fund. An NRSRO rating on a fixed-income security can change from time-to-time. For credit quality, Morningstar combines the credit rating information provided by fund companies with an average default rate calculation to come up with a weighted-average credit quality. The weighted-average credit quality is currently a letter that roughly corresponds to the scale used by a leading NRSRO. Bond funds are assigned a style box placement of “low,” “medium,” or “high” based on their average credit quality. Funds with a low credit quality are those whose weighted-average credit quality is determined to be less than “BBB-;” medium are those less than “AA-,” but greater or equal to “BBB-;” and high are those with a with a weighted-average credit quality of “AA-” or higher. When classifying a bond portfolio, Morningstar first maps the NRSRO credit ratings of the underlying holdings to their respective default rates (as determined by Morningstar’s analysis of actual historical default rates). Morningstar then averages these default rates to determine the average default rate for the entire bond fund. Finally, Morningstar maps this average default rate to its corresponding credit rating along a convex curve. For interest-rate sensitivity, Morningstar obtains from fund companies the average effective duration. Generally, Morningstar classifies a fixed-income fund’s interest-rate sensitivity based on the effective duration of the Morningstar Core Bond Index (MCBI), which is currently three years. The classification of Limited will be assigned to those funds whose average effective duration is between 25% to 75% of MCBI’s average effective duration; funds whose average effective duration is between 75% to 125% of the MCBI will be classified as Moderate; and those that are at 125% or greater of the average effective duration of the MCBI will be classified as Extensive.
Index Description: The Barclays Multiverse TR USD - The Barclays Multiverse Index is an unmanaged index comprised of securities that represent the global bond 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.
Fee Waiver and/or Expense Reimbursement: Through July 31, 2017, 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 as follows: Class A shares at 0.99%, Class B shares at 1.74%, Class C shares at 1.74%, Class I shares at 0.74% and Class Y shares at 0.99%. Prior to that date, the expense limitation may not be terminated by IICO, 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.