Waddell & Reed Advisors Government Securities Fund
- $5.40 NAV as of 3/29/2017
- ($0.01) / 0.19% Daily NAV Change
- 0.32% YTD (NAV)
Morningstar Style Box
Rick Perry, CFA
- Waddell & Reed Investment Management Company
- 1 Year with Fund
- 24 Years in Industry
Mr. Perry graduated in 1989 with a BA in accounting and business management from Central College. In 1992, he earned an MBA with a concentration in investments from the University of Iowa. Prior to joining the firm, he was a portfolio manager with Aegon USA Investment Management, where he served as the head of investment grade credit since 2006. He joined Aegon in 2001 and was named director of credit research in 2002. Prior to that, he was high-yield portfolio manager with ING Investment Management. He started his investment management career at Equitable Investment Services in 1993, where he held various positions including high-yield portfolio manager. Mr. Perry also has a CPA designation and worked for two years at McGladrey & Pullen CPA's after receiving his master's degree.
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 3/29/2017
|Net Asset Value (NAV)||$5.40|
|Daily NAV Change ($)||($0.01)||0.19%|
|Weekly NAV Change ($)||$0.00||0.00%|
|Public Offering Price (POP)||$5.40|
|Fund Type||Fixed Income Funds|
|Fiscal Year End||September|
|Dividends Paid||Daily, Paid Monthly|
|Fund Assets (as of 2/28/2017)||$236.5 mil|
|Total Holdings (as of 2/28/2017)||77|
|Portfolio Turnover Rate (as of 9/30/2016)||43%|
|Lipper Category||General U.S. Government Fds|
|Morningstar Category||Intermediate Government|
|Benchmark||Bloomberg Barclays US Govt/Mortgage 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, 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||-0.54%||-2.10%||0.07%||-0.57%||1.72%||2.84%|
|Fund at NAV||0.46%||-2.10%||0.07%||-0.57%||1.72%||2.84%|
|Bloomberg Barclays US Govt/Mortgage TR USD||0.60%||-0.49%||2.22%||1.68%||3.96%||4.86%|
|Lipper General U.S. Government Fds||0.70%||-0.99%||1.66%||1.09%||3.28%||4.25%|
Quarterly Rates of Return
|Fund at NAV||-0.50%||-0.50%||0.32%||-0.72%||1.78%||2.84%|
|Fund with maximum 1.00% CDSC||-0.50%||-0.50%||0.32%||-0.72%||1.78%||2.84%|
|Lipper General U.S. Government Fds||0.63%||0.63%||2.15%||0.95%||3.35%||4.25%|
|Bloomberg Barclays US Govt/Mortgage TR USD||1.31%||1.31%||2.60%||1.57%||4.04%||4.87%|
Calendar Year Return
|Bloomberg Barclays US Govt/Mortgage TR USD||2.27||-2.10||5.41||1.13||1.31|
Morningstar Ratings as of 2/28/2017
|Ratings are based on risk-adjusted returns|
|Overall out of 257|
|3 Year out of 257|
|5 Year out of 242|
|10 Year out of 177|
Lipper Ranking through 2/28/2017
|Rankings are based on average annual total returns, but do not consider sales charges.|
Expense Ratios as of 1/31/2017
5-Year Standard Deviation as of 2/28/2017
|Bloomberg Barclays US Govt/Mortgage TR USD||2.62|
5-Year MPT* Statistics as of 2/28/2017
|*Modern Portfolio Theory|
Historical Prices Inception 10/8/1999
Historical Distributions Inception 10/8/1999
|3/27/2017||$0.0024||Long: $0.000 Short: $0.000||$5.4||3/27/2017|
|2/27/2017||$0.0025||Long: $0.000 Short: $0.000||$5.41||2/27/2017|
|1/27/2017||$0.002||Long: $0.000 Short: $0.000||$5.39||1/27/2017|
|12/30/2016||$0.0025||Long: $0.000 Short: $0.000||$5.39||12/30/2016|
|11/25/2016||$0.0019||Long: $0.000 Short: $0.000||$5.41||11/25/2016|
|10/27/2016||$0.0017||Long: $0.000 Short: $0.000||$5.54||10/27/2016|
|9/27/2016||$0.0016||Long: $0.000 Short: $0.000||$5.61||9/27/2016|
|8/26/2016||$0.0018||Long: $0.000 Short: $0.000||$5.59||8/26/2016|
|7/27/2016||$0.0016||Long: $0.000 Short: $0.000||$5.62||7/27/2016|
|6/27/2016||$0.0019||Long: $0.000 Short: $0.000||$5.64||6/27/2016|
|5/27/2016||$0.0022||Long: $0.000 Short: $0.000||$5.53||5/27/2016|
|4/27/2016||$0.0022||Long: $0.000 Short: $0.000||$5.53||4/27/2016|
|3/24/2016||$0.0018||Long: $0.000 Short: $0.000||$5.52||3/24/2016|
|2/26/2016||$0.0025||Long: $0.000 Short: $0.000||$5.55||2/26/2016|
|1/27/2016||$0.0018||Long: $0.000 Short: $0.000||$5.5||1/27/2016|
|12/31/2015||$0.0027||Long: $0.000 Short: $0.000||$5.44||12/31/2015|
|11/27/2015||$0.0031||Long: $0.000 Short: $0.000||$5.46||11/27/2015|
|10/27/2015||$0.0027||Long: $0.000 Short: $0.000||$5.52||10/27/2015|
|9/25/2015||$0.0027||Long: $0.000 Short: $0.000||$5.49||9/25/2015|
|8/27/2015||$0.0025||Long: $0.000 Short: $0.000||$5.49||8/27/2015|
|7/27/2015||$0.0037||Long: $0.000 Short: $0.000||$5.48||7/27/2015|
|6/26/2015||$0.0055||Long: $0.000 Short: $0.000||$5.44||6/26/2015|
|5/27/2015||$0.0022||Long: $0.000 Short: $0.000||$5.51||5/27/2015|
|4/27/2015||$0.0022||Long: $0.000 Short: $0.000||$5.56||4/27/2015|
|3/27/2015||$0.0022||Long: $0.000 Short: $0.000||$5.56||3/27/2015|
|2/27/2015||$0.0033||Long: $0.000 Short: $0.000||$5.54||2/27/2015|
|1/27/2015||$0.0027||Long: $0.000 Short: $0.000||$5.58||1/27/2015|
|12/31/2014||$0.0032||Long: $0.000 Short: $0.000||$5.52||12/31/2014|
|11/26/2014||$0.0031||Long: $0.000 Short: $0.000||$5.54||11/26/2014|
|10/27/2014||$0.0045||Long: $0.000 Short: $0.000||$5.54||10/27/2014|
|9/26/2014||$0.0045||Long: $0.000 Short: $0.000||$5.49||9/26/2014|
|8/27/2014||$0.004||Long: $0.000 Short: $0.000||$5.52||8/27/2014|
|7/25/2014||$0.0036||Long: $0.000 Short: $0.000||$5.52||7/25/2014|
|6/27/2014||$0.0044||Long: $0.000 Short: $0.000||$5.52||6/27/2014|
|5/27/2014||$0.0038||Long: $0.000 Short: $0.000||$5.53||5/27/2014|
|4/25/2014||$0.0042||Long: $0.000 Short: $0.000||$5.49||4/25/2014|
|3/27/2014||$0.0032||Long: $0.000 Short: $0.000||$5.47||3/27/2014|
|2/27/2014||$0.0037||Long: $0.000 Short: $0.000||$5.51||2/27/2014|
|1/27/2014||$0.0027||Long: $0.000 Short: $0.000||$5.48||1/27/2014|
|12/31/2013||$0.0032||Long: $0.000 Short: $0.000||$5.44||12/31/2013|
|11/27/2013||$0.0042||Long: $0.000 Short: $0.000||$5.5||11/27/2013|
|10/25/2013||$0.0039||Long: $0.000 Short: $0.000||$5.53||10/25/2013|
|9/27/2013||$0.0049||Long: $0.000 Short: $0.000||$5.51||9/27/2013|
|8/27/2013||$0.0035||Long: $0.000 Short: $0.000||$5.48||8/27/2013|
|7/26/2013||$0.0035||Long: $0.000 Short: $0.000||$5.53||7/26/2013|
|6/27/2013||$0.0042||Long: $0.000 Short: $0.000||$5.54||6/27/2013|
|5/24/2013||$0.0039||Long: $0.000 Short: $0.000||$5.72||5/24/2013|
|4/26/2013||$0.0043||Long: $0.000 Short: $0.000||$5.8||4/26/2013|
|3/27/2013||$0.0036||Long: $0.000 Short: $0.000||$5.77||3/27/2013|
|2/27/2013||$0.0044||Long: $0.000 Short: $0.000||$5.76||2/27/2013|
|1/25/2013||$0.003||Long: $0.000 Short: $0.000||$5.75||1/25/2013|
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 2/28/2017
|With Sales Charge||0.44%|
Annualized 30-Day SEC Yield as of 2/28/2017
|Subsidized - NAV||0.52%|
|Unsubsidized - NAV||0.44%|
Top 10 Holdings as a % of net assets 2/28/2017
|U.S. Treasury Bonds, 9.0%, 11/15/2018||United States Treasury Bonds, 9.00%, 11/15/2018||3.84%|
|Federal National Mortgage Association Fixed Rate Pass-Through Certificates, 2.8%, 11/1/2018||3.36%|
|Federal National Mortgage Association Fixed Rate Pass-Through Certificates, 4.4%, 6/1/2021||3.15%|
|Federal Home Loan Mortgage Corp. Agency REMIC/CMO, 2.8%, 6/25/2022||3.08%|
|U.S. Department of Transportation, 6.0%, 12/7/2021||2.86%|
|Federal National Mortgage Association Fixed Rate Pass-Through Certificates, 2.6%, 5/1/2019||2.82%|
|U.S. Treasury Notes, 1.6%, 2/15/2026||2.79%|
|U.S. Treasury Notes, 2.3%, 11/15/2024||2.69%|
|U.S. Treasury Notes, 3.6%, 8/15/2019||United States Treasury Notes, 3.63%, 8/15/2019||2.68%|
|U.S. Treasury Notes, 2.0%, 8/15/2025||2.47%|
Total Portfolio Holdings
as a % of fixed income assets as of 2/28/2017
|Average Maturity||6.07 years|
|Effective Duration||5.06 years|
Fixed Income Country Allocation
as a % of bond holdings as of 2/28/2017
as a % of fixed income assets as of 2/28/2017
|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.|
as a % of net assets as of 2/28/2017
|Cash and Cash Equivalents||9.37%|
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. 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. Fixed income securities are subject to interest rate risk and, as such, the net asset value of the fund may fall as interest rates rise. 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.
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: The Barclays US Govt/Mortgage TR USD - The Barclays U.S. Government/Mortgage-Backed Securities Index measures the performance of U.S. government bonds and mortgage-related securities. 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.
Fee Waiver and/or Expense Reimbursement: Through January 31, 2018, Waddell & Reed Investment Management Company (WRIMCO), the Fund’s investment manager, Waddell & Reed, Inc., the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.00%, Class B shares at 2.13%, Class C shares at 1.88% and Class Y shares at 0.72%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees.
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).
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.
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.