DVACX — Delaware Tax-Free Arizona Fund
Data updated: 2025-07-29
DVACX — Delaware Tax-Free Arizona Fund. Long Municipal - National Bond · $52.66M AUM · 1.59% expense ratio. Holdings, fees, performance and SEC filings.
DVACX Fund Overview
DVACX — Delaware Tax-Free Arizona Fund is a US mutual fund managed by Voyageur Insured Funds, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Voyageur Insured Funds
- Category: Long Municipal - National Bond
- Assets under management: $52.66M
- 1-year return: -1.7%
- Ticker: DVACX
- SEC CIK: 0000809064
- SEC series ID: S000002406
- Share class ID: C000006394
DVACX Investment Objective and Strategy
Delaware Tax-Free Arizona Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Voyageur Insured Funds.
Investment objective
Delaware Tax-Free Arizona Fund seeks as high a level of current income exempt from federal income tax and from the Arizona state personal income tax as is consistent with preservation of capital.
Principal investment strategy
Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities the income from which is exempt from federal income tax, including the federal alternative minimum tax, and from Arizona state personal income taxes. This is a fundamental investment policy that may not be changed without prior shareholder approval. Municipal debt obligations are issued by state and local governments to raise funds for various public purposes such as hospitals, schools, and general capital expenses. Municipal debt obligations in which the Fund may invest may also include securities issued by US territories and possessions (such as the Commonwealth of Puerto Rico, Guam, and the US Virgin Islands) to the extent that these securities are also exempt from federal income tax and Arizona state personal income taxes.
The Fund will invest its assets in securities with maturities of various lengths, depending on market conditions. The Manager will adjust the average maturity of the bonds in the portfolio to attempt to provide a high level of tax-exempt income consistent with preservation of capital. The Fund?s income level will vary depending on current interest rates and the specific securities in the portfolio. The Fund may concentrate its investments in certain types of bonds or in a certain segment of the municipal bond market when the supply of bonds in other sectors does not suit its investment needs. The Fund may invest in insured municipal bonds. The Fund will generally have a dollar-weighted average effective maturity of between 5 and 30 years. The types of municipal debt obligations in which the Fund may invest include, but are not limited to, advance refunded bonds, revenue bonds, general obligation bonds, insured municipal bonds, private activity bonds, municipal leases, and certificates of participation.
DVACX Holdings
Top 10 holdings of Delaware Tax-Free Arizona Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Salt River Az Proj Agric Impt& | 4.93% |
| Puerto Rico Sales Tax Fing Cor | 4.32% |
| Phoenix Az Civic Impt Corp. Arp | 4.09% |
| Salt Verde Az Financial Corp. S | 3.93% |
| Arizona St Indl Dev Auth Lease | 3.74% |
| Gdb Debt Recovery Auth Of Cmwl | 3.15% |
| Maricopa Cnty Az Indl Dev Auth | 2.96% |
| Maricopa Cnty Az Indl Dev Auth | 2.96% |
| Salt River Az Proj Agric Impt& | 2.92% |
| Arizona Brd Of Rgts | 2.87% |
DVACX Portfolio Allocation
Asset-class allocation of Delaware Tax-Free Arizona Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.5% |
DVACX Performance
Total returns for DVACX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.7% |
| 3 years (annualised) | -0.9% |
| 5 years (annualised) | -0.4% |
DVACX Risk Information
Risk metrics for DVACX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.8%
DVACX Costs and Fees
DVACX costs about $159 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.59%
- Gross expense ratio: 1.87%
- Portfolio turnover: 18%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
DVACX Cashflows
Over the 12 months to 2025-05, Delaware Tax-Free Arizona Fund had net outflows of $2.01M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-05 | −$720.77K |
| 2025-04 | −$841.09K |
| 2025-03 | −$257.06K |
| 2025-02 | $693.40K |
| 2025-01 | −$192.32K |
| 2024-12 | −$475.43K |
DVACX Debt Constituents
Largest debt holdings of Delaware Tax-Free Arizona Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Salt River Az Proj Agric Impt& | 4.93% |
| Puerto Rico Sales Tax Fing Cor | 4.32% |
| Phoenix Az Civic Impt Corp. Arp | 4.09% |
| Salt Verde Az Financial Corp. S | 3.93% |
| Arizona St Indl Dev Auth Lease | 3.74% |
| Gdb Debt Recovery Auth Of Cmwl | 3.15% |
| Maricopa Cnty Az Indl Dev Auth | 2.96% |
| Maricopa Cnty Az Indl Dev Auth | 2.96% |
| Salt River Az Proj Agric Impt& | 2.92% |
| Arizona Brd Of Rgts | 2.87% |
DVACX Prospectus and SEC Filings
Official Delaware Tax-Free Arizona Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-12-27
- Prospectus (485BPOS) — filed 2023-12-28
- Prospectus (485BPOS) — filed 2022-12-28
- Portfolio holdings (N-PORT) — filed 2025-07-29
- Portfolio holdings (N-PORT) — filed 2025-04-22
- Portfolio holdings (N-PORT) — filed 2025-01-28
- Annual census (N-CEN) — filed 2024-11-14
- Annual census (N-CEN) — filed 2023-11-08
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.