Ivy Science and Technology Fund
- $48.82 NAV as of 3/27/2017
- ($0.14) / 0.29% Daily NAV Change
- 9.19% YTD (NAV)
Focused on growth. Rooted in innovation.
- Excellent track record
- Strong historical results, managed by Zachary Shafran, with more than 20 years of experience.
- Multiple, non-correlated sources of growth
- Seeks opportunities within technology, health care, and applied science and technology.
- Proven investment process
- Built on a six-decade firm legacy of technology investing expertise.
Data provided as of 12/31/2106
Morningstar Style Box
Zachary H. Shafran
- Ivy Investment Management Company
- 16 Years with Fund
- 28 Years in Industry
Zachary H. Shafran is a senior vice president of Ivy Investment Management Company. Mr. Shafran joined Waddell & Reed in June 1990 as an investment analyst. He was portfolio manager of the Ivy Mid Cap Growth Fund since its inception July 2000 until February 2001. Mr. Shafran was named portfolio manager of the Ivy Science and Technology Fund in February 2001. Prior to joining Waddell & Reed, Mr. Shafran was affiliated with Piper, Jaffray & Hopwood as an investment executive from 1988 through 1990. Mr. Shafran graduated from the University of Missouri at Kansas City in 1988 with a BSBA degree in Business Administration. He earned an MBA with an emphasis in Finance from the University of Missouri at Kansas City in 1992. Mr. Shafran is a member of the Kansas City Society of Financial Analysts.
- Ivy Investment Management Company
- 1 Year with Fund
- 19 Years in Industry
Mr. Warden graduated from Trinity University, San Antonio, Texas in May 1997 with a BS in business administration. He earned an MBA with an emphasis in finance from the University of Texas at Austin, McCombs School of Business in May 2003. From 1997 through 2001 he held defined benefit plan consulting roles, including project manager and unit manager, at AON Hewitt (formerly Hewitt Associates LLC). Mr. Warden joined the organization in June 2003 as an investment analyst. During his tenure at Waddell & Reed, he has covered health care services, software, hardware, IT services, semiconductor, and semiconductor capital equipment industries. Mr. Warden was named assistant portfolio manager of the Waddell & Reed Advisors, Ivy, Ivy Global Investors and Ivy Funds VIP Science and Technology Funds in 2014 and portfolio manager in October 2016.
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 3/27/2017
|Net Asset Value (NAV)||$48.82|
|Daily NAV Change ($)||($0.14)||0.29%|
|Weekly NAV Change ($)||$0.00||0.00%|
|Public Offering Price (POP)||$48.82|
|Fund Type||Specialty Funds|
|Fiscal Year End||March|
|Fund Assets (as of 2/28/2017)||$3.9 bil|
|Total Equity Holdings (as of 2/28/2017)||45|
|Total Holdings (as of 2/28/2017)||71|
|Portfolio Turnover Rate (as of 9/30/2016)||4%|
|Lipper Category||Science & Technology Funds|
|Benchmark||S&P North American Technology TR|
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, if it had, performance shown would be lower. For Class C shares, a 1% CDSC applies to the lesser of amount invested or redemption value of shares redeemed within twelve months after the purchase date.
Monthly Rates of Return
|Fund with maximum 1.00% CDSC||6.16%||26.15%||1.09%||11.91%||9.66%||11.92%|
|Fund at NAV||7.16%||26.15%||1.09%||11.91%||9.66%||11.92%|
|Lipper Science & Technology Funds||9.38%||33.43%||10.89%||13.71%||9.31%||7.53%|
|S&P North American Technology TR||9.56%||34.32%||15.27%||16.42%||11.48%||7.27%|
Quarterly Rates of Return
|Fund at NAV||0.97%||0.97%||0.20%||13.78%||9.27%||11.63%|
|Fund with maximum 1.00% CDSC||0.97%||0.97%||0.20%||13.78%||9.27%||11.63%|
|Lipper Science & Technology Funds||10.80%||10.80%||9.52%||14.94%||8.49%||7.07%|
|S&P North American Technology TR||13.55%||13.55%||12.89%||17.41%||10.42%||6.83%|
Calendar Year Return
|S&P North American Technology TR||15.23||34.57||15.28||9.91||13.56|
Morningstar Ratings as of 2/28/2017
|Ratings are based on risk-adjusted returns|
|Overall out of 196|
|3 Year out of 196|
|5 Year out of 186|
|10 Year out of 144|
Lipper Ranking through 2/28/2017
|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 2/28/2017
|S&P North American Technology TR||13.26|
5-Year MPT* Statistics as of 2/28/2017
|*Modern Portfolio Theory|
Historical Prices Inception 7/31/1997
Historical Distributions Inception 7/31/1997
|12/10/2015||$0||Long: $1.260 Short: $0.000||$44.66||12/10/2015|
|12/11/2014||$0||Long: $1.165 Short: $0.000||$47.09||12/11/2014|
|12/12/2013||$0||Long: $1.317 Short: $0.000||$44.54||12/12/2013|
|12/13/2012||$0||Long: $0.189 Short: $0.000||$31.47||12/13/2012|
|12/8/2011||$0||Long: $2.130 Short: $0.000||$25.34||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.
Top 10 Equity Holdings as a % of net assets 2/28/2017
|Micron Technology, Inc.||Micron Technology, Inc., engages in the manufacture and marketing of semiconductor devices worldwide.||5.96%|
|Alliance Data Systems Corp.||Alliance Data Systems Corporation,provides data-driven and transaction-based marketing and customer loyalty solutions primarily in the United States and Canada.||5.09%|
|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.||4.96%|
|Microsemi Corp.||Manufacturer of power-related applications including circuits and microchips for defense, aerospace, security and medical industries||4.96%|
|Euronet Worldwide, Inc.||Euronet Worldwide, Inc. is an electronic payments provider of payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, individual consumers.||4.01%|
|WNS (Holdings) Ltd. ADR||WNS (Holdings) Limited provides business process management services comprising data, voice, analytical, and business transformation services worldwide||3.95%|
|ACI Worldwide, Inc.||ACI Worldwide, Inc. engages in the development, marketing, installation, and support of software products and services to facilitate electronic payments worldwide.||3.90%|
|Facebook, Inc., Class A||Facebook, Inc. operates as a social networking company worldwide. It builds various tools that enable users to connect, share, discover, and communicate with each other on mobile devices and computers.||3.88%|
|Ionis Pharmaceuticals, Inc.||3.82%|
|Aspen Technology, Inc.||Aspen Technology, Inc., together with its subsidiaries, develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes.||3.73%|
Total Portfolio Holdings
as a % of equity assets as of 2/28/2017
|Median Market Cap (as of 2/28/2017)||$4.4 bil|
Top 10 Industry Allocation
as a % of Equity Holdings as of 2/28/2017
|Data Processing & Outsourced Services||13.7%|
|Internet Software & Services||12.7%|
|IT Consulting & Other Services||3.6%|
|Health Care Technology||3.4%|
as a % of equity assets as of 2/28/2017
as a % of net assets as of 2/28/2017
|Domestic Common Stock||81.49%|
|Foreign Common Stock||13.92%|
|Cash and Cash Equivalents||3.97%|
|Other Financial Instruments||0.00%|
Equity Country Allocation
as a % of equity assets as of 2/28/2017
Total Portfolio HoldingsUpdated quarterly, upon availability.
Risk Factors: The value of the Fund’s shares will change, and you could lose money on your investment. Because the Fund invests more than 25% of its total assets in the science and technology industry, the Fund’s performance may be more susceptible to a single economic, regulatory or technological occurrence than a fund that does not concentrate its investments in this industry. Securities of companies within specific industries or sectors of the economy may periodically perform differently than the overall market. In addition, the Fund’s performance may be more volatile than an investment in a portfolio of broad market securities and may underperform the market as a whole, due to the relatively limited number of issuers of science and technology related securities. Investment risks associated with investing in science and technology securities, in addition to other risks, include: operating in rapidly changing fields, abrupt or erratic market movements, limited product lines, markets or financial resources, management that is dependent on a limited number of people, short product cycles, aggressive pricing of products and services, new market entrants and obsolescence of existing technology. These and other risks are more fully described in the Fund’s prospectus.
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 S&P North American Technology Sector Index is an unmanaged index comprised of U.S. securities classified under the GICS® technology sector and internet retail sub-industry. 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.
For Class C shares, performance prior to 3/24/00 is based on the fund's original Class B shares, which were combined with Class C Shares, effective 3/24/00, and redesignated as Class C shares. New Class B shares with fees and expenses different than the original Class B shares were added to Ivy Funds on 6/30/00.
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).
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
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.