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WRA Core Investment Fund

  • $6.34 NAV as of 12/6/2016
  • ($0.00) / 0.00% Daily NAV Change
  • 3.59% YTD (NAV)

Summary

Building a well-rounded portfolio

Strategy
Stock selection stems from uncovering multi-year earnings catalysts that appear underappreciated by the market in companies believed to have strong or strengthening competitive advantages.
Process
Concentrated portfolio of U.S. companies that generally invests across the valuation and large- to mid-cap spectrum opportunistically.
Experienced management
Each portfolio manager has more than 15 years of industry experience. Both managers began their careers as research analysts covering a wide range of industries.

Morningstar Style Box

Growth
Large
Source: Morningstar

Portfolio Management

Erik R. Becker, CFA

  • Waddell & Reed Investment Management Company
  • 10 Years with Fund
  • 18 Years in Industry
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Erik R. Becker is senior vice president of Ivy Investment Management Company. Mr. Becker earned a BBA in finance, investment, and banking in August 1997 and an MS in finance in May 1999 from the University of Wisconsin-Madison. Mr. Becker joined Waddell & Reed in June 1999 as an investment analyst. He assumed assistant portfolio manager responsibilities in August 2003 of the Ivy Core Equity Fund. He was named co-portfolio manager of the Ivy Core Equity Fund in February 2006.

Gus C. Zinn, CFA

  • Waddell & Reed Investment Management Company
  • 10 Years with Fund
  • 18 Years in Industry
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Gus C. Zinn is a senior vice president of Waddell & Reed Investment Management Company. Mr. Zinn graduated from the University of Wisconsin-Madison with a BBA in May 1996 and a Masters of finance in May 1998. Mr. Zinn joined Waddell & Reed in June 1998 as an investment analyst. He assumed assistant portfolio manager responsibilities in July 2003 of the Ivy Science and Technology Fund. Mr. Zinn was named co-portfolio manager of the Waddell & Reed Advisors Core Investment Fund in July 2006.

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

Perspectives

Quarterly Fund Commentary

Daily Prices as of 12/6/2016

Net Asset Value (NAV) $6.34
Daily NAV Change ($) ($0.00) 0.00%
Weekly NAV Change ($) $0.06 0.96%
Public Offering Price (POP) $6.73

Fund Facts

Ticker Symbol UNCMX
CUSIP 930057104
Fund Code 621
Fund Type Domestic Equity
Fund Inception 10/9/1940
Class Inception 10/9/1940
Fiscal Year End December
Dividends Paid March, June, September, December
Fund Assets (as of 11/30/2016) $3.9 bil
Total Equity Holdings (as of 11/30/2016) 45
Total Holdings (as of 11/30/2016) 60
Portfolio Turnover Rate (as of 6/30/2016) 52%
Lipper Category Large-Cap Core Funds
Morningstar Category Large Growth
Benchmark S&P 500 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 5.75% sales charge -2.62% -4.90% 2.89% 10.73% 6.58% 10.62%
Fund at NAV 3.27% 0.93% 4.95% 12.05% 7.21% 10.71%
S&P 500 TR USD 9.79% 8.06% 9.07% 14.45% 6.89%

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 5.75% sales charge -2.00% 4.78% 5.43% 13.38% 7.10% 10.65%
Fund at NAV 3.92% 11.16% 7.55% 14.74% 7.74% 10.74%
Lipper Large-Cap Core Funds 6.03% 12.48% 8.89% 14.76% 6.37%
S&P 500 TR USD 7.84% 15.43% 11.16% 16.37% 7.24%

Calendar Year Return

  2011 2012 2013 2014 2015
Class A 1.24 18.44 33.13 9.54 -0.61
S&P 500 TR USD 2.11 16.00 32.39 13.69 1.38

Morningstar Ratings as of 11/30/2016 Morningstar Logo

Category: Large Growth
Ratings are based on risk-adjusted returns
Overall out of 1308
3 Year out of 1308
5 Year out of 1129
10 Year out of 797

Lipper Ranking through 11/30/2016 Lipper Logo

Category: Large-Cap Core Funds
  Rank Percentile
Rankings are based on average annual total returns, but do not consider sales charges.
1 Year 794/870 92
3 Year 673/782 86
5 Year 518/698 75
10 Year 67/549 13

Expense Ratios as of 10/31/2016

Net 1.05%
Gross 1.05%

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

S&P 500 TR USD 11.12

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

*Modern Portfolio Theory
Alpha -2.73
Beta 1.09
R-Squared 93.85
Sharpe Ratio 1.17
Capture Ratio Upside: 101.73%
Downside: 121.39%

Distributions

Historical Prices Inception 10/9/1940

Date Price Dividend Reinvest Date Capital Gain Reinvest Date
12/1/2016 $6.29 NO NO
12/2/2016 $6.30 NO NO
12/5/2016 $6.34 NO NO
12/6/2016 $6.34 NO NO

Historical Distributions Inception 10/9/1940

Ex-date Income Capital Gains Reinvest Gains Payment Date
12/10/2015 $0.0137 Long: $0.789 Short: $0.099 $6.15 12/10/2015
12/11/2014 $0.021 Long: $0.753 Short: $0.094 $6.95 12/11/2014
12/12/2013 $0.031 Long: $0.865 Short: $0.203 $6.92 12/12/2013
12/13/2012 $0.0296 Long: $0.376 Short: $0.031 $6.23 12/13/2012
12/8/2011 $0.0135 Long: $0.302 Short: $0.000 $5.63 12/8/2011
9/15/2011 $0.01 Long: $0.000 Short: $0.000 $5.88 9/15/2011
6/16/2011 $0.005 Long: $0.000 Short: $0.000 $6.11 6/16/2011

*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

Top 10 Equity Holdings as a % of net assets 11/30/2016

Halliburton Co. Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and gas properties worldwide. 3.74%
Shire Pharmaceuticals Group plc ADR Shire plc (Shire) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. 3.63%
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. 3.60%
JPMorgan Chase & Co. JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. 3.39%
Union Pacific Corp. Union Pacific Corporation owns the largest railroad in the U.S. It's diversified business mix includes agricultural products, automotive, chemicals, energy, industrial products and intermodal. 3.26%
Cimarex Energy Co. Cimarex Energy Company operates as an independent oil and gas exploration and production company primarily in Texas, Oklahoma, and New Mexico. The company owns interests in 4,160 net productive oil and gas wells. 3.26%
Alphabet, Inc., Class A Alphabet Inc through its subsidiary Google Inc is engaged in improving the ways people connect with information & products including Search, Android, YouTube, Apps, Maps & Ads. It also produces internet-connected home devices & provides internet services. 2.96%
Kraft Foods Group, Inc. The Kraft Heinz Company is the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world, with eight $1 billion+ brands. 2.96%
CBS Corp., Class B CBS Corporation (CBS Corp.) is a mass media company with operations in Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor segments. 2.81%
Wells Fargo & Co. Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance across North America and internationally. 2.75%

Total Portfolio Holdings

Updated quarterly, upon availability.

Market Capitalization
as a % of equity assets as of 11/30/2016

Large 96.7%
Medium 3.3%
Small 0.0%
Median Market Cap (as of 11/30/2016) $55.9 bil

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

Oil & Gas Exploration & Production 7.7%
Railroads 6.8%
Internet Software & Services 6.6%
Biotechnology 6.0%
Auto Parts & Equipment 4.4%
Packaged Foods & Meats 4.4%
Data Processing & Outsourced Services 4.2%
Oil & Gas Equipment & Services 3.8%
Systems Software 3.7%
Other Diversified Financial Services 3.4%

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

Information Technology 22.25%
Consumer Discretionary 15.17%
Financials 14.85%
Energy 12.90%
Health Care 11.65%
Industrials 11.45%
Consumer Staples 10.25%
Real Estate 1.48%

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

Domestic Common Stock 89.90%
Foreign Common Stock 8.56%
Cash and Cash Equivalents 1.54%

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

United States 91.3%
Ireland 5.5%
Canada 1.6%
China 1.6%

Total Portfolio Holdings

Updated quarterly, upon availability.

The value of the Portfolio's shares will change, and you could lose money on your investment. Because the Fund is generally invested in a small number of stocks, the performance of any one security held by the Fund will have a greater impact than if the Fund were invested in a larger number of securities. Although larger companies tend to be less volatile than companies with smaller market capitalizations, returns on investments in securities of large capitalization companies could trail the returns on investments in securities of smaller companies. 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. These and other risks are more fully described in the Portfolio's prospectus. Not all portfolios may be offered at all broker/dealers.

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.

Risk Factors: As with any mutual fund, the value of the Fund’s shares will change, and you could lose money on your investment. Because the Fund is generally invested in a small number of stocks, the performance of any one security held by the Fund will have a greater impact than if the Fund were invested in a larger number of securities. Although larger companies tend to be less volatile than companies with smaller market capitalizations, returns on investments in securities of large capitalization companies could trail the returns on investments in securities of smaller companies. 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: S&P 500 - An unmanaged index of common stocks. 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.

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.

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.

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.

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