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Ivy ProShares S&P 500 Dividend Aristocrats Index Fund

  • $10.55 NAV as of 9/19/2017
  • ($0.01) / 0.09% Daily NAV Change
  • YTD (NAV)

Summary

Targeting the S&P 500's top dividend growers with the longest track records

The Fund focuses on the S&P 500 companies that have long track records of year-over-year dividend growth. It follows the S&P 500® Dividend Aristocrats® Index and targets S&P 500 companies that have increased dividend payouts every year for at least 25 consecutive years.

Morningstar Style Box

Blend
Large
Source: Morningstar

Portfolio Management

Michael Neches

  • ProShare Advisors LLC (Sub-adviser)
  • <1 Year with Fund

Rachel Ames

  • ProShare Advisors LLC (Sub-adviser)
  • <1 Year with Fund

Daily Prices as of 9/19/2017

Net Asset Value (NAV) $10.55
Daily NAV Change ($) ($0.01) 0.09%
Weekly NAV Change ($) $0.03 0.29%
Public Offering Price (POP) $10.55

Fund Facts

Ticker Symbol IDAIX
CUSIP 46600A617
Fund Code 455
Fund Type Domestic Equity
Fund Inception 4/20/2017
Class Inception 4/20/2017
Fiscal Year End September
Dividends Paid March, June, September, December
Fund Assets (as of 8/31/2017) $71.8 mil
Total Equity Holdings (as of 8/31/2017) 51
Total Holdings (as of 8/31/2017) 53
Lipper Category Multi-Cap Core Funds
Morningstar Category Large Value
Benchmark S&P 500 Dividend Aristocrats Index

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 I shares are sold without any front-end sales load or contingent deferred sales charges.

Monthly Rates of Return

Average Annual Total Returns as of 8/31/2017
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV 3.40%
S&P 500 Dividend Aristocrats Index 9.02% 7.31% 10.13% 14.45% 10.40% 4.38%
Lipper Multi-Cap Core Funds 9.77% 14.09% 6.43% 12.71% 6.26% 4.26%

Quarterly Rates of Return

Average Annual Total Returns as of 6/30/2017
(Returns for periods of less than 1-yr are not annualized)
 
Fund at NAV 3.00%
Lipper Multi-Cap Core Funds 8.39% 17.62% 6.58% 13.18% 5.88% 2.89%
S&P 500 Dividend Aristocrats Index 8.47% 8.76% 10.39% 15.02% 10.00% 3.86%

Expense Ratios as of 4/20/2017

Net 0.50%
Gross 0.67%

5-Year Standard Deviation as of

S&P 500 Dividend Aristocrats Index N/A

Distributions

Historical Prices Inception 4/20/2017

9/1/2017 $10.37 NO NO
9/5/2017 $10.34 NO NO
9/6/2017 $10.38 NO NO
9/7/2017 $10.39 NO NO
9/8/2017 $10.43 NO NO
9/11/2017 $10.50 NO NO
9/12/2017 $10.52 NO NO
9/13/2017 $10.51 NO NO
9/14/2017 $10.50 YES YES
9/15/2017 $10.52 NO NO
9/18/2017 $10.54 NO NO
9/19/2017 $10.55 NO NO

Historical Distributions Inception 4/20/2017

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

Top 10 Holdings as a % of net assets 8/31/2017

Brown-Forman Corp., Class B Brown-Forman Corporation manufactures, bottles, imports, exports and markets a variety of alcoholic beverage brands. 2.16%
V.F. Corp. VF Corporation is an international apparel company. The Company owns a broad portfolio of brands in the jeanswear, outerwear, packs, footwear, sportswear, and occupational apparel categories. VF products are marketed to consumers shopping in specialty stores, upscale, traditional department stores, national chains, and mass merchants. 2.09%
Aflac, Inc. 2.08%
Clorox Co. (The) 2.07%
McDonalds Corp. McDonald's is the leading global foodservice retailer with over 36000 restaurants in more than 100 countries around the world. 2.06%
Procter & Gamble Co. (The) The Procter & Gamble Company engages in the manufacture and sale of consumer goods worldwide. 2.04%
Chevron Corp. Chevron Corp., through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. 2.03%
T. Rowe Price Group, Inc. T. Rowe Price Group, Inc. is a financial services holding company that provides investment advisory services to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios. 2.03%
AT&T, Inc. 2.02%
Automatic Data Processing, Inc. 2.01%

Total Portfolio Holdings

Updated quarterly, upon availability.

Market Capitalization
as a % of equity assets as of 8/31/2017

Large 94.5%
Medium 5.5%
Small 0.0%
Median Market Cap (as of 8/31/2017) $31.7 bil

Top 10 Industry Allocation
as a % of Equity Holdings as of 8/31/2017

Industrial Machinery 7.8%
Household Products 6.1%
Specialty Chemicals 5.8%
Health Care Equipment 5.7%
Soft Drinks 4.0%
Pharmaceuticals 4.0%
Asset Management & Custody Banks 3.9%
Packaged Foods & Meats 3.8%
Distillers & Vintners 2.2%
Apparel, Accessories & Luxury Goods 2.1%

Sector Allocation
as a % of equity assets as of 8/31/2017

Consumer Staples 26.00%
Industrials 17.38%
Health Care 13.39%
Consumer Discretionary 11.80%
Financials 9.93%
Materials 9.60%
Energy 3.93%
Telecommunication Services 2.03%
Utilities 2.02%
Information Technology 2.02%
Real Estate 1.90%

Portfolio Composition
as a % of net assets as of 8/31/2017

Domestic Common Stock 95.57%
Foreign Common Stock 3.73%
Cash and Cash Equivalents 0.70%

Equity Country Allocation
as a % of equity assets as of 8/31/2017

United States 96.3%
United Kingdom 1.9%
Ireland 1.9%

Total Portfolio Holdings

Updated quarterly, upon availability.

Documents

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Documents

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.

The Fund is a passively managed index fund and does not invest in securities based on the managers' view of the investment merit of a particular security or company, nor does it conduct conventional investment research or analysis or forecast market movement or trends, in managing the assets of the Fund. The Fund seeks to remain fully invested at all times in securities that, in combination, provide exposure to the Index without regard to market conditions, trends or direction.

Risk factors. The value of the Fund's shares will change, and you could lose money on your investment. Large capitalization companies in which the Index and, by extension, the Fund are exposed may go in and out of favor based on market and economic conditions. The Fund's emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform non-dividend paying stocks and the market as a whole over any period of time. In addition, there is no guarantee that the companies in which the Fund invests will declare dividends in the future or that dividends, if declared, will remain at current levels or increase over time. The amount of any dividend the company may pay may fluctuate significantly. In addition, the value of dividend-paying common stocks can decline when interest rates rise as fixed-income investments become more attractive to investors. This risk may be greater due to the current period of historically low interest rates.

The Fund entails other risks, including imperfect benchmark correlation and market price variance that may decrease performance. While the Fund attempts to track the performance of its stated index, there is no guarantee or assurance that the methodology used to create the Index will result in the Fund achieving high, or even positive, returns. The Index may underperform, and the Fund could lose value, while other indices or measures of market performance increase in value. 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.

Index description. The S&P 500® Dividend Aristocrats® Index measures the performance S&P 500 companies that have increased dividends every year for the last 25 consecutive years. The Index treats each constituent as a distinct investment opportunity without regard to its size by equally weighting each company. It is not possible to invest directly in an index.

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) as follows: Class A shares at 0.75% and Class I and Class N shares at 0.50%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the Fund's prospectus for more information.

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.

Style Analysis: The Morningstar Style Box reveals a fund's investment style. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, 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 the following Nationally Recognized Statistical Rating Organizations (NRSROs): Moody's, Standard & Poor's, Fitch, and Egan-Jones. 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. For example, if NRSRO X rates a security AA-, NRSRO Y rates the same security an A and NRSRO Z rates it a BBB+, the fund company should use the credit rating of 'A' in its reporting to Morningstar. 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 the 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 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. For municipal bond funds, Morningstar also obtains from fund companies the average effective duration. In these cases static breakpoints are utilized. These breakpoints are as follows: (i) Limited: 4.5 years or less; (ii) Moderate: more than 4.5 years but less than 7 years; and (iii) Extensive: more than 7 years. In addition, for non-US taxable and non-US domiciled fixed income funds static duration breakpoints are used: (i) Limited: less than or equal to 3.5 years; (ii) Moderate: greater than 3.5 and less than equal to 6 years; (iii) Extensive: greater than 6 years.

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.

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.

The Funds are managed by Ivy Investment Management Company and sub-advised by ProShare Advisors LLC.

ProShares® is a registered mark of ProShare Advisors LLC and has been licensed by Ivy Investment Management Company and Ivy Distributors, Inc. solely for use in connection with the Ivy ProShares funds.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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