Ivy VIP Balanced
- $7.46 NAV as of 12/6/2016
- ($0.02) / 0.20% Daily NAV Change
- 1.80% YTD (NAV)
Balancing potential risk and reward in a complex world
- Straightforward approach
- A traditional balanced portfolio with predictable guardrails that generally invests two-thirds of its assets in U.S. equities and one-third of its assets in fixed-income securities.
- Management discipline
- Uses fundamental analysis and rigorous screening of stocks and bonds to determine portfolio composition.
- Competitive track record
- Seeks balanced, consistent growth and current income while managing risk. Manager utilizes a disciplined investment process that is designed to deliver consistent results.
Morningstar Style Box
Matthew A. Hekman
- Waddell & Reed Investment Management Company
- 2 Years with Fund
- 18 Years in Industry
Matthew A. Hekman is Vice President of Ivy Investment Management Company and Waddell & Reed Investment Management Company. Mr. Hekman joined the firm in June 2003 as a performance analyst. He was promoted to investment analyst in March 2005. He joined the large-cap growth team in January 2009. He was appointed assistant vice president and assistant portfolio manager in January 2010. Mr. Hekman joined the large-cap value team as assistant portfolio manager in September 2011. His research responsibilities were concentrated in large-cap value stocks, aerospace and defense, and chemicals. In August 2014, Mr. Hekman was appointed portfolio manager of the Ivy Balanced Fund, Ivy Funds VIP Balanced and Waddell & Reed Advisors Continental Income Fund. Prior to joining the firm, Mr. Hekman was a manager of custody administration and investment accounting with State Street Corporation. He was responsible for five client relationships as well as eight staff members. He oversaw and approved all custody and accounting activities for 26 mutual funds culminating in the submission of a NAV to NASDAQ. In that role, Mr. Hekman acted as a liaison between custody administration, accounting, and investment management personnel. Mr. Hekman graduated from Dordt College in 1998 with a BA in business administration. He earned an MBA with an emphasis in finance from the University of Kansas in 2003. Mr. Hekman is a member of the CFA Institute and the Kansas City CFA Society.
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 12/6/2016
|Net Asset Value (NAV)||$7.46|
|Daily NAV Change ($)||($0.02)||0.20%|
|Weekly NAV Change ($)||$0.04||0.48%|
|Public Offering Price (POP)||$7.46|
|Fund Type||Specialty Funds|
|Fiscal Year End||December|
|Fund Assets (as of 11/30/2016)||$364.1 mil|
|Total Equity Holdings (as of 11/30/2016)||57|
|Total Holdings (as of 11/30/2016)||241|
|Portfolio Turnover Rate (as of 6/30/2016)||24%|
|Lipper Category||Mixed-Asset Target Alloc Growth Funds|
|Morningstar Category||Allocation--70% to 85% Equity|
|Benchmark||S&P 500 TR USD|
|Benchmark||Bloomberg Barclays US Govt/Credit 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 A shares, including sales charges, reflects the maximum applicable front-end sales load.
Monthly Rates of Return
|Fund at NAV||1.42%||-0.84%||3.39%||8.61%||6.36%||7.43%|
|Bloomberg Barclays US Govt/Credit TR USD||2.83%||2.38%||2.75%||2.51%||4.29%||5.67%|
|S&P 500 TR USD||9.79%||8.06%||9.07%||14.45%||6.89%||9.36%|
Quarterly Rates of Return
|Fund at NAV||2.43%||7.28%||5.53%||10.56%||6.83%||7.54%|
|Lipper Mixed-Asset Target Alloc Growth Funds||5.79%||8.96%||5.62%||10.12%||5.64%||—|
|Bloomberg Barclays US Govt/Credit TR USD||6.66%||5.86%||4.22%||3.24%||4.86%||5.89%|
|S&P 500 TR USD||7.84%||15.43%||11.16%||16.37%||7.24%||9.34%|
Calendar Year Return
|S&P 500 TR USD||2.11||16.00||32.39||13.69||1.38|
|Bloomberg Barclays US Govt/Credit TR USD||8.74||4.82||-2.35||6.01||0.15|
Morningstar Ratings as of 11/30/2016
|Ratings are based on risk-adjusted returns|
|Overall out of 344|
|3 Year out of 344|
|5 Year out of 286|
|10 Year out of 206|
Lipper Ranking through 11/30/2016
|Rankings are based on average annual total returns, but do not consider sales charges.|
Expense Ratios as of 4/30/2016
3-Year Standard Deviation as of 9/30/2016
|S&P 500 TR USD||11.12|
|Bloomberg Barclays US Govt/Credit TR USD||N/A|
3-Year MPT* Statistics as of 9/30/2016
|*Modern Portfolio Theory|
Historical Prices Inception 5/3/1994
|Date||Price||Dividend Reinvest Date||Capital Gain Reinvest Date|
Historical Distributions Inception 5/3/1994
|Ex-date||Income||Capital Gains||Reinvest Gains||Payment Date|
|5/18/2016||$0.1187||Long: $1.156 Short: $0.126||$7.15||5/18/2016|
|5/20/2015||$0.0929||Long: $1.340 Short: $0.026||$9.12||5/20/2015|
|5/21/2014||$0.0999||Long: $0.792 Short: $0.106||$9.63||5/21/2014|
|5/22/2013||$0.151||Long: $0.802 Short: $0.066||$9.4||5/22/2013|
|5/16/2012||$0.1434||Long: $0.519 Short: $0.000||$8.84||5/16/2012|
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 10/31/2016
|With Sales Charge||1.37%|
Top 10 Equity Holdings as a % of net assets 11/30/2016
|Carnival Corp.||Carnival Corporation operates as a cruise and vacation company.||2.17%|
|JPMorgan Chase & Co.||JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company.||1.90%|
|Shire Pharmaceuticals Group plc ADR||Shire plc (Shire) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.||1.86%|
|Apple, Inc.||Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions worldwide.||1.85%|
|Applied Materials, Inc.||Applied Materials, Inc. provides nanomanufacturing technology solutions for the semiconductor, flat panel display, solar, and related industries worldwide.||1.80%|
|Johnson & Johnson||Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.||1.62%|
|Comcast Corp., Class A||Comcast Corporation operates as a media and technology company worldwide. It operates through cable communications, cable networks, broadcast television, filmed entertainment, and theme parks segments.||1.58%|
|Johnson Controls, Inc.||1.52%|
|PNC Financial Services Group, Inc. (The)||The Company has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing its products and services nationally and others in its markets located in Pennsylvania, Virginia, Missouri, Wisconsin and Georgia. It also provides products and services internationally.||1.50%|
|Intercontinental Exchange, Inc.||1.46%|
Total Portfolio Holdings
as a % of equity assets as of 11/30/2016
|Median Market Cap (as of 11/30/2016)||$34.8 bil|
Top 10 Industry Allocation
as a % of Equity Holdings as of 11/30/2016
|Oil & Gas Exploration & Production||5.8%|
|Packaged Foods & Meats||5.7%|
|Managed Health Care||4.3%|
|Other Diversified Financial Services||3.8%|
|Hotels, Resorts & Cruise Lines||3.6%|
|Technology Hardware, Storage & Peripherals||3.1%|
|Cable & Satellite||2.7%|
as a % of fixed income assets as of 10/31/2016
|Average Maturity||4.61 years|
|Effective Duration||3.80 years|
Fixed Income Country Allocation
as a % of bond holdings as of 11/30/2016
as a % of equity assets as of 11/30/2016
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
|Domestic Common Stock||48.00%|
|Cash and Cash Equivalents||6.96%|
|Foreign Common Stock||5.21%|
Equity Country Allocation
as a % of equity assets as of 11/30/2016
Total Portfolio HoldingsUpdated quarterly, upon availability.
Risk Factors: The value of the Portfolio's shares will change, and you could lose money on your investment. An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. 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. The lower-rated securities in which the Portfolio may invest may carry greater risk of nonpayment of interest or principal then higher-rated bonds. In addition to the risks typically associated with fixed-income securities, loan participations in which the Portfolio may invest carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loan participations may be unsecured or not fully collateralized may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. The Portfolio'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 Portfolio 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 Portfolio typically holds a limited number of stocks (generally 50 to 65). As a result, the appreciation or depreciation of any one security held by the Portfolio will have a greater impact on the Portfolio's net asset value than it would if the Portfolio invested in a large number of securities. The value of a security believed by the Portfolio's manager to be undervalued may never reach what the manager believes to be its full value, or such security's value may decrease. These and other risks are more fully described in the Portfolio's prospectus. Not all portfolios may be offered at all broker/ dealers. The IVY VARIABLE INSURANCE PORTFOLIOSSM, are only available as investment options in variable life insurance policies and variable annuity contracts issued by participating insurance companies. They are not offered or made available directly to the general public.
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 US Govt/Credit TR USD - The Barclays U.S. Government/Credit Index measures the performance of U.S. dollar-denominated United States Treasuries, government-related, and investment-grade U.S. corporate securities that have a remaining maturity of greater than or equal to one year. In addition, the securities have $250 million or more of outstanding face value and are fixed-rate and non-convertible securities. It is not possible to invest directly in an index.
Annuities are long-term financial products designed for retirement purposes. Annuity and life insurance guarantees are based on the financial strength and claims-paying ability of the issuing insurance company. The guarantees have no bearing on the performance of a variable investment option. Variable investment options are subject to market risk, including loss of principal. There are charges and expenses associated with annuities and variable life insurance products, including mortality and expense risk charges, management fees, administrative fees, expenses for optional riders and deferred sales charges for early withdrawals. Withdrawals before age 59 1/2 may be subject to a 10% IRS tax penalty and surrender charges may apply.
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.
MPT Statistics: Alpha is a measure of a portfolio’s actual returns and expected performance, given its level of risk (as measured by beta). Beta reflects the sensitivity of the portfolio’s return to fluctuations in the market index. R-squared indicates how much of a portfolio’s fluctuations are attributable to movements in the portfolio’s benchmark. Standard deviation is a measure of how volatile a portfolio’s returns are. Sharpe ratio is a measure of a portfolio’s risk-adjusted performance.
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.