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InvestEd Conservative Portfolio Fund

  • $10.76 NAV as of 12/7/2016
  • ($0.07) / 0.65% Daily NAV Change
  • 3.56% YTD (NAV)

Summary

To seek capital preservation.

The portfolio is designed for investors who seek capital preservation from their investments, through a primary emphasis on income and a secondary emphasis on capital growth. The portfolio is also designed for investors who expect to incur expenses related to higher education within a year or two. The portfolio invests primarily in Waddell & Reed Advisors bond and income-producing mutual funds. It invests, to a lesser extent, in Waddell & Reed Advisors equity mutual funds. Each underlying fund, in turn, invests in a diversified portfolio of securities.

Morningstar Style Box

Growth
Large
LTD
Low
Source: Morningstar

Portfolio Management

Cynthia P. Prince-Fox

  • Waddell & Reed Investment Management Company
  • 1 Year with Fund
  • 33 Years in Industry
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Cynthia P. Prince-Fox is a senior vice president of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Ms. Prince-Fox joined the firm in 1983 as an equity investment analyst. In 1991, she assumed the role of assistant portfolio manager. In 1993, she was appointed portfolio manager of Waddell & Reed Advisors Continental Income Fund. In July 2013, Ms. Prince-Fox was named portfolio manager of the Waddell & Reed Advisors Dividend Opportunities Fund. She graduated in 1982 from St. Mary's University at San Antonio, Texas with a BBA degree in finance. She earned an MBA with an emphasis in finance from Rockhurst College in 1989.

Chace Brundige, CFA

  • Waddell & Reed Investment Management Company
  • 1 Year with Fund
  • 23 Years in Industry
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Chace Brundige, CFA is a Senior Vice President of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Mr. Brundige graduated from Kansas State University in 1991 with a BS in finance. He earned an MBA with an emphasis in finance and accounting from the University of Chicago Graduate School of Business in 1996. Mr. Brundige began his investment career at UMB Financial Corp. in 1991. In 1996 he joined Waddell & Reed as an equity investment analyst. Mr. Brundige joined TCW/WestBridge Ventures LLC in San Francisco as a vice president and limited partner in 1999. Mr. Brundige rejoined Waddell & Reed in August 2003 as an assistant portfolio manager to the large cap growth team. He managed the Waddell & Reed Advisors Tax-Managed Equity Fund from February 2006 through December 2008. Mr. Brundige assumed portfolio manager responsibility for the Waddell & Reed Advisors International Growth Fund, Ivy Funds VIP International Growth (formerly W&R Target Funds International Growth Portfolio), and the Ivy International Growth Fund in January 2009. In August 2014, Mr. Brundige was appointed portfolio manager of the Ivy Asset Strategy Fund, Ivy Funds VIP Asset Strategy Fund and Waddell & Reed Advisors Asset Strategy Fund.

Aaron D. Young

  • Waddell & Reed Investment Management Company
  • 1 Year with Fund
  • 11 Years in Industry
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Aaron D. Young is a vice president of Waddell & Reed Investment Management Company and Ivy Investment Management Company. Mr. Young joined the organization in 2005 as a fixed-income analyst. He joined the Asset Strategy team as an investment analyst in 2007. Mr. Young was named assistant portfolio manager of the Asset Strategy products in 2012 and continues in that role. He was appointed vice president in 2014. Mr. Young was named co-portfolio manager of InvestEd Portfolios, Ivy Funds VIP Pathfinder portfolios, Ivy Funds VIP Pathfinder Managed Volatility portfolios and Ivy Managed International Opportunities Fund in October 2016. Prior to joining the firm, he was a fixed-income analyst with NISA Investment Advisors, LLC. Mr. Young graduated with honors in 2000 with a BA in Philosophy from the University of Missouri. He earned an MBA with an emphasis in Finance and Strategy from the Olin School of Business at Washington University in 2005.

Growth of a $10,000 Investment
through 11/30/2016

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.

Documents

Daily Prices as of 12/7/2016

Net Asset Value (NAV) $10.76
Daily NAV Change ($) ($0.07) 0.65%
Weekly NAV Change ($) $0.09 0.84%
Public Offering Price (POP) $11.24

Fund Facts

Ticker Symbol WICAX
CUSIP 46132D204
Fund Code 803
Fund Type InvestEd
Fund Inception 10/1/2001
Class Inception 10/1/2001
Fiscal Year End December
Dividends Paid December
Fund Assets (as of 11/30/2016) $114.1 mil
Total Equity Holdings
Total Holdings
Portfolio Turnover Rate (as of 6/30/2016) 54%
Lipper Category Mixed-Asset Target Alloc Consv Funds
Morningstar Category Tactical Allocation
Benchmark S&P 500 TR USD
Benchmark Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD
Benchmark Bloomberg Barclays US Agg Bond TR USD

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.

Performance at NAV does not include the effect of sales charges. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return

Average Annual Total Returns as of 11/30/2016
(Returns for periods of less than 1-yr are not annualized)
  YTD 1YR 3YR 5YR 10YR LIFE
Fund with 4.25% sales charge -1.66% -2.95% 0.64% 4.08% 4.09% 3.88%
Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD 0.23% 0.24% 0.10% 0.08% 0.76% 1.28%
Bloomberg Barclays US Agg Bond TR USD 2.50% 2.17% 2.79% 2.43% 4.27% 4.52%
Fund at NAV 2.69% 1.37% 2.11% 4.99% 4.54% 4.17%
S&P 500 TR USD 9.79% 8.06% 9.07% 14.45% 6.89% 7.19%

Quarterly Rates of Return

Average Annual Total Returns as of 9/30/2016
(Returns for periods of less than 1-yr are not annualized)
  YTD 1YR 3YR 5YR 10YR LIFE
Fund with 4.25% sales charge -1.01% 1.50% 1.94% 4.42% 4.35% 3.97%
Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD 0.19% 0.21% 0.08% 0.07% 0.84% 1.30%
Fund at NAV 3.37% 6.01% 3.43% 5.34% 4.80% 4.27%
Bloomberg Barclays US Agg Bond TR USD 5.80% 5.19% 4.03% 3.08% 4.79% 4.80%
Lipper Mixed-Asset Target Alloc Consv Funds 6.37% 7.30% 3.95% 5.83% 4.17% 4.81%
S&P 500 TR USD 7.84% 15.43% 11.16% 16.37% 7.24% 7.15%

Calendar Year Return

  2011 2012 2013 2014 2015
Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD 0.07 0.08 0.05 0.02 0.03
S&P 500 TR USD 2.11 16.00 32.39 13.69 1.38
Class A 3.54 12.56 3.66 -1.29
Bloomberg Barclays US Agg Bond TR USD 7.84 4.21 -2.02 5.97 0.55

Morningstar Ratings as of 11/30/2016 Morningstar Logo

Category: Tactical Allocation
Ratings are based on risk-adjusted returns
Overall out of 251
3 Year out of 251
5 Year out of 166
10 Year out of 67

Lipper Ranking through 11/30/2016 Lipper Logo

Category: Mixed-Asset Target Alloc Consv Funds
  Rank Percentile
Rankings are based on average annual total returns, but do not consider sales charges.
1 Year 318/362 88
3 Year 218/322 68
5 Year 128/276 47
10 Year 49/204 24

Expense Ratios as of 4/30/2016

Net 0.85%
Gross 0.85%

5-Year Standard Deviation as of 9/30/2016

S&P 500 TR USD 11.12
Bloomberg Barclays US Treasury Bill 1-3 Mon TR USD N/A
Bloomberg Barclays US Agg Bond TR USD 2.66

5-Year MPT* Statistics as of 9/30/2016

*Modern Portfolio Theory
Alpha -1.02
Beta 0.40
R-Squared 79.22
Sharpe Ratio 1.06
Capture Ratio Upside: 41.15%
Downside: 54.78%

Distributions

Historical Prices Inception 10/1/2001

Date Price Dividend Reinvest Date Capital Gain Reinvest Date
12/1/2016 $10.64 NO NO
12/2/2016 $10.65 NO NO
12/5/2016 $10.69 NO NO
12/6/2016 $10.69 NO NO
12/7/2016 $10.76 NO NO

Historical Distributions Inception 10/1/2001

Ex-date Income Capital Gains Reinvest Gains Payment Date
12/15/2015 $0.2061 Long: $0.710 Short: $0.003 $10.36 12/15/2015
12/16/2014 $0.294 Long: $0.621 Short: $0.145 $11.21 12/16/2014
12/17/2013 $0 Long: $0.160 Short: $0.006 $11.9 12/17/2013
12/18/2012 $0.2994 Long: $0.058 Short: $0.012 $10.91 12/18/2012
12/12/2011 $0.371 Long: $0.000 Short: $0.000 $10.48 12/12/2011

*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

Total Portfolio Holdings

Updated quarterly, upon availability.

Top 10 Industry Allocation
as a % of Equity Holdings as of 11/30/2016

Oil & Gas Exploration & Production 6.5%
Railroads 5.8%
Internet Software & Services 5.6%
Biotechnology 5.4%
Other Diversified Financial Services 4.2%
Auto Parts & Equipment 3.7%
Packaged Foods & Meats 3.7%
Data Processing & Outsourced Services 3.5%
Systems Software 3.4%
Oil & Gas Equipment & Services 3.2%

Fixed Income Country Allocation
as a % of bond holdings as of 11/30/2016

United States 78.1%
United Kingdom 3.0%
Luxembourg 2.1%
Mexico 1.6%
Netherlands 1.5%
Brazil 1.4%
Chile 1.3%
Argentina 1.3%
Japan 1.3%
Columbia 1.2%
Singapore 1.1%
Panama 0.9%
Canada 0.8%
France 0.7%
Ireland 0.5%
Cayman Islands 0.4%
Russia 0.4%
Supranational 0.3%
British Virgin Islands 0.3%
Spain 0.3%
United Arab Emirates 0.3%
Peru 0.3%
Norway 0.2%
India 0.2%
China 0.2%
Hong Kong 0.1%
Saudi Arabia 0.1%
Austria 0.1%
Jamaica 0.1%
Indonesia 0.1%

Sector Allocation
as a % of equity assets as of 11/30/2016

Information Technology 20.82%
Financials 17.09%
Consumer Discretionary 14.22%
Energy 13.31%
Health Care 11.49%
Industrials 10.15%
Consumer Staples 9.61%
Real Estate 1.56%
Utilities 1.35%
Materials 0.40%

Quality
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.
Government Bonds 29.10%
NonRated 3.20%
AAA 0.40%
AA 7.00%
A 18.20%
BBB 27.80%
BB 7.70%
B 5.80%
CCC 0.80%

Portfolio Composition
as a % of net assets as of 11/30/2016

Corporate Bonds 36.50%
Domestic Common Stock 36.43%
Government Bonds 15.99%
Cash and Cash Equivalents 4.67%
Foreign Common Stock 4.07%
Other Government Securities 0.63%
General Obligation Bonds 0.47%
Senior Loans 0.40%
Asset-Backed Securities 0.40%
Revenue Bonds 0.30%
Mortgage-Backed Securities 0.14%

Equity Country Allocation
as a % of equity assets as of 11/30/2016

United States 90.0%
Ireland 4.7%
Canada 1.4%
China 1.3%
United Kingdom 1.0%
Panama 0.6%
Brazil 0.5%
Israel 0.3%
Chile 0.2%
Netherlands 0.1%

Total Portfolio Holdings

Updated quarterly, upon availability.

Documents

Select a document below to view or download.

Documents

Risk Factors: The value of the Portfolio's shares will change, and you could lose money on your investment. Investing in small or mid-cap stocks may carry more risk than investing in stocks of larger, more well-established companies. Fixed income securities are subject to interest rate risk and, as such, the net asset value of the Portfolio may fall as interest rates rise. Investing in high-income securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. The Portfolio may focus its investments in certain regions or industries, thereby increasing its potential vulnerability to market volatility. Diversification does not assure a profile or protect against loss. These and other risks are more fully described in the Portfolio'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.

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: S&P 500 - An unmanaged index of common stocks. It is not possible to invest directly in an index.

Index Description: The Barclays U.S. Treasury Bills: 1-3 Month Index - Includes all publicly issued zero-coupon U.S. Treasury Bills that have a remaining maturity of less than 3 months and more than 1 month, are rated investment grade, and have $250 million or more of outstanding face value. In addition, the securities are denominated in U.S. dollars and are fixed rate and non-convertible. It is not possible to invest directly in an index.

Index Description: The Barclays U.S. Aggregate Bond TR USD Index - A market capitalization-weighted index, representing most U.S. traded investment grade bonds. 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.

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.

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.

The Fund's Board of Directors has established target ranges for the allocation of the portfolio's assets. The range of portfolio net assets invested in equity funds will be from 40% to 80%; correspondingly, the range of portfolio net assets invested in bond and income-producing funds will be from 60% to 20%. Subject to these asset allocation ranges, the Board of Directors has established these target ranges for investment of the portfolio's assets in specific underlying funds.

Investors should consider the investment objectives, risks, charges and expenses associated with the Ivy Funds InvestEd 529 Plan carefully before investing. This and other information is found in the InvestEd Portfolios prospectus, and the Ivy Funds prospectus, the Ivy Funds InvestEd 529 Plan Program Overview, and the Ivy Funds InvestEd 529 Plan Account Application. Please encourage your clients to read the prospectus carefully before investing. An investor should also consider, before investing whether the investor's or Designated Beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 college savings plan. Investment return and principal value will fluctuate, and it is possible to lose money by investing.

Investors should consider the investment objectives, risks, charges and expenses associated with the Ivy Funds InvestEd 529 Plan carefully before investing. This and other information is found in the InvestEd Portfolios prospectus, and the Ivy Funds prospectus, the Ivy Funds InvestEd 529 Plan Program Overview, and the Ivy Funds InvestEd 529 Plan Account Application. Please encourage your clients to read the prospectus carefully before investing. An investor should also consider, before investing whether the investor's or Designated Beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's 529 college savings plan. Investment return and principal value will fluctuate, and it is possible to lose money by investing.

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.

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