IMBIX Fees and Costs — Delaware Ivy Municipal Bond Fund, Class I
Data updated: 2023-08-29
The net expense ratio is 0.55%: a 0.52% management fee plus 0.17% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 49%.
IMBIX Fees and Expenses
Annual operating expenses and sales charges of IMBIX. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.17% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
IMBIX Costs Over Time
On $10,000 invested in IMBIX, assuming 5% a year before costs, total costs come to $347 over 5 years, cutting the return by 0.58% 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 |
| Fund expenses (net expense ratio 0.55%) | $58 | $181 | $315 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $347 |
| Value after costs | $10,442 | $11,386 | $12,416 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
IMBIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $657.1M
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
IMBIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $108.5M | 23.96% |
| WELLS FARGO SECURITIES, LLC | $57.0M | 12.58% |
| CitiGroup Global Markets Inc. | $47.6M | 10.51% |
| TD SECURITIES (USA) LLC | $46.4M | 10.24% |
| MORGAN STANLEY & CO. LLC | $41.0M | 9.06% |
| BARCLAYS CAPITAL, INC. | $36.8M | 8.14% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $33.5M | 7.40% |
| BUILD AMERICA MUTUAL ASSURANCE COMPANY | $32.9M | 7.25% |
| PIPER SANDLER & CO. | $27.9M | 6.16% |
| JANNEY MONTGOMERY SCOTT LLC | $21.3M | 4.71% |
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.