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InvestEd Fixed Income Portfolio

  • $10.00 NAV as of 11/22/2017
  • ($0.01) / 0.10% Daily NAV Change
  • YTD (NAV)

Summary

To seek to provide capital preservation.

The Portfolio net assets will be invested 100% in bond funds. The Portfolio is designed for investors who seek capital preservation from their investments, through a primary emphasis on income. The Portfolio can experience negative returns given its investment flexibility. The Portfolio is also designed for investors who are currently incurring expenses related to higher education.

Morningstar Style Box

Value
Large
LTD
Medium
Source: Morningstar

Portfolio Management

Cynthia P. Prince-Fox

  • Ivy Investment Management Company
  • <1 Year with Fund
  • 34 Years in Industry
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Cynthia P. Prince-Fox is a senior vice president of Ivy Investment Management Company and Waddell & Reed 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. In August 2014, she was appointed portfolio manager of the Ivy Asset Strategy Fund, Ivy VIP Asset Strategy and Waddell & Reed Advisors Asset Strategy Fund, which was renamed with an investment mandate change in May 2017 to Waddell & Reed Advisors Wilshire Global Allocation 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

  • Ivy Investment Management Company
  • <1 Year with Fund
  • 24 Years in Industry
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Chace Brundige, CFA is a senior vice president of Ivy Investment Management Company and Waddell & Reed Investment Management Company. Mr. Brundige began his investment career at UMB Financial Corp. in 1991. In 1996, he joined our firm as an equity investment analyst but left in 1999 to join TCW/WestBridge Ventures LLC in San Francisco as a vice president and limited partner. Mr. Brundige rejoined our firm 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 VIP Asset Strategy and Waddell & Reed Advisors Asset Strategy Fund, which was renamed with an investment mandate change in May 2017 to Waddell & Reed Advisors Wilshire Global Allocation Fund. . 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.

Aaron D. Young

  • Ivy Investment Management Company
  • <1 Year with Fund
  • 12 Years in Industry
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Aaron Young is co-portfolio manager of Ivy Managed International Opportunities Fund since 2016. He is a portfolio manager of Ivy VIP Pathfinder Portfolios and InvestEd Portfolios since 2016. Mr. Young joined Waddell & Reed in 2005 as a fixed income investment analyst with an emphasis in credit research and derivative securities. He joined the Asset Strategy team as an investment analyst in 2007. He covered brokers, asset managers and exchanges as an equity investment analyst during 2008. He was named assistant portfolio manager of Ivy and Ivy VIP Asset Strategy Funds in 2012 and continues to serve in that role. He was appointed assistant vice president in 2012 and vice president in 2014. Mr. Young graduated with honors in 2000 with a BA in Philosophy from the University of Missouri. He earned an MBA with a concentration in Finance and Strategy from the Olin School of Business, Washington University in St. Louis in 2005.

Growth of a $10,000 Investment
through 10/31/2017

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 11/22/2017

Net Asset Value (NAV) $10.00
Daily NAV Change ($) ($0.01) 0.10%
Weekly NAV Change ($) $0.01 0.10%
Public Offering Price (POP) $10.26

Fund Facts

Ticker Symbol WFXPX
CUSIP 46132D600
Fund Code 806
Fund Type InvestEd
Fund Inception 9/18/2017
Class Inception 9/18/2017
Fiscal Year End December
Dividends Paid December
Fund Assets (as of 10/31/2017) $42.0 mil
Morningstar Category Short-Term Bond
Benchmark 75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD
Benchmark BBgBarc US Govt/Credit 1-5 Yr TR USD
Benchmark BBgBarc US Universal 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, if it had, performance shown would be lower. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return

Average Annual Total Returns as of 10/31/2017
(Returns for periods of less than 1-yr are not annualized)
 
Portfolio at NAV 0.10%
Portfolio with 2.50% sales charge -2.44%
BBgBarc US Govt/Credit 1-5 Yr TR USD 1.54% 0.63% 1.34% 1.19% 2.69% -0.17%
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD 2.10% 0.92% 1.71% 1.52% 3.14% -0.14%
BBgBarc US Universal TR USD 3.79% 1.76% 2.82% 2.49% 4.48% -0.08%

Quarterly Rates of Return

Average Annual Total Returns as of 9/30/2017
(Returns for periods of less than 1-yr are not annualized)
 
Portfolio at NAV 0.00%
Portfolio with 2.50% sales charge -2.53%
BBgBarc US Govt/Credit 1-5 Yr TR USD 1.58% 0.51% 1.51% 1.20% 2.75% -0.13%
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD 2.10% 0.62% 1.91% 1.54% 3.20% -0.15%
BBgBarc US Universal TR USD 3.67% 0.96% 3.11% 2.53% 4.56% -0.20%

Calendar Year Return

  2012
BBgBarc US Govt/Credit 1-5 Yr TR USD 2.24 0.28 1.42 0.97 1.56
BBgBarc US Universal TR USD 5.53 -1.35 5.56 0.43 3.91

Expense Ratios as of 9/18/2017

Net 0.78%
Gross 0.78%

5-Year Standard Deviation as of

BBgBarc US Universal TR USD N/A
BBgBarc US Govt/Credit 1-5 Yr TR USD 1.24
75% BBgBarc US Govt/Credit 1-5 Yr TR USD; 25% BBgBarc US Universal TR USD N/A

Distributions

Historical Prices Inception 9/18/2017

11/1/2017 $10.01 NO NO
11/2/2017 $10.01 NO NO
11/3/2017 $10.01 NO NO
11/6/2017 $10.01 NO NO
11/7/2017 $10.01 NO NO
11/8/2017 $10.00 NO NO
11/9/2017 $10.00 NO NO
11/10/2017 $9.98 NO NO
11/13/2017 $9.98 NO NO
11/14/2017 $9.99 NO NO
11/15/2017 $9.99 NO NO
11/16/2017 $9.98 NO NO
11/17/2017 $9.99 NO NO
11/20/2017 $9.98 NO NO
11/21/2017 $9.99 NO NO
11/22/2017 $10.00 NO NO

Historical Distributions Inception 9/18/2017

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

Total Portfolio Holdings

Updated quarterly, upon availability.

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

Investment Banking & Brokerage 52.3%
Diversified Banks 9.4%
Integrated Telecommunication Services 5.6%
Education Services 5.5%
Integrated Oil & Gas 5.3%
Oil & Gas Exploration & Production 4.8%
Semiconductors 3.9%
Electric Utilities 3.5%
Health Care REITs 3.0%
Agricultural Products 2.7%

Fixed Income Country Allocation
as a % of bond holdings as of 10/31/2017

United States 93.4%
Japan 1.6%
United Kingdom 1.0%
Canada 1.0%
Netherlands 0.7%
Norway 0.3%
Luxembourg 0.3%
Argentina 0.2%
Mexico 0.2%
Australia 0.2%
Brazil 0.2%
Columbia 0.1%
France 0.1%
Singapore 0.1%
Cayman Islands 0.1%
Chile 0.1%
Indonesia 0.1%
India 0.1%
Peru 0.0%
South Africa 0.0%
Ireland 0.0%
Qatar 0.0%
Russia 0.0%
United Arab Emirates 0.0%
Spain 0.0%
Turkey 0.0%
Austria 0.0%
British Virgin Islands 0.0%
Macau 0.0%
Poland 0.0%
Saudi Arabia 0.0%
Hong Kong 0.0%
Denmark 0.0%
Sweden 0.0%
China 0.0%
Guernsey 0.0%

Underlying Fund Composition
as a % of net assets as of 10/31/2017

Ivy Limited-Term Bond 64.5 %
Ivy Advantus Bond 9.9 %
Ivy Government Money Market 9.9 %
Ivy Government Securities 5.9 %
Ivy High Income 4.0 %
Ivy Global Bond 3.0 %
Ivy ProShares S&P 500 Bond Index 2.0 %

Portfolio Allocation Ranges
(as of the most recent prospectus)

  Low High
Ivy Limited-Term Bond Fund 0.0 % 100.0 %
Ivy Government Money Market Fund 0.0 % 70.0 %
Ivy Government Securities Fund <sup>1</sup> 0.0 % 10.0 %
Ivy Bond Fund <sup>1</sup> 0.0 % 10.0 %
Ivy High Income Fund 0.0 % 10.0 %
Ivy Advantus Bond Fund 0.0 % 10.0 %
Ivy ProShares Interest Rate Hedged High Yield Index Fund 0.0 % 10.0 %
Ivy Global Bond Fund 0.0 % 10.0 %
Ivy Apollo Strategic Income Fund 0.0 % 10.0 %
Ivy ProShares S&P 500 Bond Index Fund 0.0 % 10.0 %

Sector Allocation
as a % of equity assets as of 10/31/2017

Financials 63.43%
Energy 10.98%
Consumer Discretionary 6.45%
Telecommunication Services 5.60%
Information Technology 3.93%
Utilities 3.91%
Real Estate 3.03%
Consumer Staples 2.67%

Quality
as a % of fixed income assets as of 10/31/2017

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 26.30%
NonRated 2.00%
AAA 2.20%
AA 8.50%
A 21.40%
BBB 32.00%
BB 3.50%
B 2.90%
CCC 1.20%
Below CCC 0.00%

Portfolio Composition
as a % of net assets as of 10/31/2017

Corporate Bonds 56.90%
Government Bonds 22.70%
Cash and Cash Equivalents 12.47%
Asset-Backed Securities 2.31%
Mortgage-Backed Securities 1.21%
General Obligation Bonds 1.18%
Senior Loans 0.85%
Revenue Bonds 0.62%
Preferred Stock 0.61%
Other Financial Instruments 0.46%
Other Government Securities 0.44%
Domestic Common Stock 0.15%
Foreign Common Stock 0.10%

Equity Country Allocation
as a % of equity assets as of 10/31/2017

United States 86.4%
Netherlands 6.2%
Panama 3.7%
Bermuda 1.8%
Brazil 1.3%
Chile 0.4%
United Kingdom 0.3%

Total Portfolio Holdings

Updated quarterly, upon availability.

Documents

Select a document below to view or download.

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.

Past performance is not a guarantee of future results. Investments into a 529 plan, including the Ivy InvestEdSM 529 Plan, are not guaranteed, and all investments involve a certain degree of risk. The value of your Ivy InvestEdSM 529 Plan account will depend upon the performance of the Portfolios in which your account is invested and the Portfolio’s share price will likely change based on the performance of the underlying funds in which it invests.

The bond funds in which the Portfolio invests are subject to interest rate risk and, as such, the net asset value of the Portfolio 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. Foreign 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 Portfolio's prospectus.

You could lose money by investing in the Ivy Government Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Before investing, investors should consider the investment objectives, risks, charges and expenses associated with the Ivy InvestEdSM Plan carefully before investing. This and other information is found in the InvestEdSM Portfolios prospectus, and the Ivy Funds prospectus, the Ivy InvestEdSM 529 Plan Program Overview, and the InvestEdSM 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.

Non-residents or tax-payers of states other than Arizona should consider participating in the 529 plan(s) available in their state of residence as such plan(s) may offer more favorable state income tax or other benefits than those offered under the Ivy InvestEdSM 529 Plan. Please consult your tax advisor regarding your personal tax situation.

The Ivy InvestEdSM 529 Plan and shares of InvestEdSM Portfolios are offered by Waddell & Reed, Inc. as part of the Arizona Family College Savings Program Trust Fund, a 529 plan administered by the Arizona Commission for Postsecondary Education (the “Program”). Waddell & Reed, Inc. is one of multiple financial Institutions eligible to offer Investments under the Program. Accounts a not insured by the State of Arizona, the Trust, the Arizona Commission for Postsecondary Education, or any other governmental entity, Waddell & Reed, Inc., Ivy Distributors, Inc., or any affiliated or related party, and neither the principal deposited nor the Investment return is guaranteed by any of the referenced parties.

The Bloomberg Barclays U.S. Universal Index represents the union of the U.S. Aggregate Index, the U.S. High-Yield Corporate Index, the 144A Index, the Eurodollar Index, the Emerging Markets Index, and the non-ERISA portion of the CMBS Index. Municipal debt, private placements, and non-dollar-denominated issues are excluded from the Universal Index. The only constituent of the index that includes floating-rate debt is the Emerging Markets Index. Source: Bloomberg Barclays

The Bloomberg Barclays U.S. 1-5 Year Government/Credit Bond Index is the 1-5 year component of the Bloomberg Barclays U.S. Government/Credit Index, which includes treasuries, agencies, publicly issued U.S. corporate and foreign debentures & secured notes. To be included in the index, securities must have at least one, and up to, but not including five years to maturity. Source: Bloomberg Barclays

1Waddell & Reed Advisors (WRA) Bond Fund merged into Ivy Bond Fund on Oct. 16, 2017. The returns shown prior to this date reflect the performance of WRA Bond Fund, which was incepted on March 30, 1964. Ivy Bond Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Bond Fund. Prior to the reorganization, the Ivy Bond Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Bond Fund's investment strategies. WRA Bond Fund's past performance does not necessarily indicate how Ivy Bond Fund will perform in the future. Waddell & Reed Advisors (WRA) Government Securities Fund merged into Ivy Government Securities Fund on Oct. 16, 2017. The returns shown prior to this date reflect the performance of WRA Government Securities Fund, which was incepted on April 10, 1984. Ivy Government Securities Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Government Securities Fund. Prior to the reorganization, the Ivy Government Securities Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Government Securities Fund's investment strategies. WRA Government Securities Fund's past performance does not necessarily indicate how Ivy Government Securities Fund will perform in the future.

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.

When a fund's share class has less than a year of performance to report, the returns shown are cumulative.

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.

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

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