IATAX Fees and Costs — Delaware Ivy Accumulative Fund, Class A
Data updated: 2024-05-28
The net expense ratio is 1.10%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.15% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2023 the fund paid $453K in broker commissions, 0.0631% of average net assets, and portfolio turnover was 95%.
IATAX Fees and Expenses
Annual operating expenses and sales charges of IATAX. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.15% |
| Gross expense ratio | 1.10% |
| Fee waiver | — |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
IATAX Costs Over Time
On $10,000 invested in IATAX, assuming 5% a year before costs, total costs come to $1,417 over 5 years, cutting the return by 2.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.10%) | $109 | $339 | $587 |
| Trading costs (broker commissions) | $6 | $19 | $34 |
| Lost growth on money paid in costs | $29 | $108 | $222 |
| Total costs | $719 | $1,042 | $1,417 |
| Value after costs | $9,781 | $10,534 | $11,345 |
| Impact on return, per year | 7.19% | 3.25% | 2.44% |
IATAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0631%
- Total broker commissions: $453K
- Bought from dealers (principal trades, not a cost): $639K
- Portfolio turnover (prospectus): 95%
- Securities on loan, average value: $49.6M
- Net income from securities lending: $93K (0.013% of average net assets)
IATAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $47K | 14.04% |
| CREDIT SUISSE SECURITIES (USA) LLC | $46K | 13.99% |
| GOLDMAN SACHS & CO. LLC | $35K | 10.46% |
| BOFA SECURITIES, INC. | $33K | 10.00% |
| BARCLAYS CAPITAL, INC. | $33K | 9.82% |
| PIPER SANDLER & CO. | $32K | 9.54% |
| J.P. Morgan Securities LLC | $30K | 8.97% |
| MORGAN STANLEY & CO. LLC | $29K | 8.62% |
| UBS Securities LLC | $26K | 7.73% |
| DASH FINANCIAL TECHNOLOGIES LLC | $23K | 6.83% |
IATAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $639K | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.