IPNAX Fees and Costs — Delaware Ivy High Yield Fund, Class A
Data updated: 2024-05-28
The net expense ratio is 0.97%: a 0.62% management fee, a 0.25% 12b-1 fee plus 0.54% other expenses, less a 0.44% fee waiver. This share class carries a maximum front-end sales load of 4.50%. Portfolio turnover was 42%.
IPNAX Fees and Expenses
Annual operating expenses and sales charges of IPNAX. Prospectus, as of September 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.62% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.41% |
| Fee waiver | −0.44% |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | 4.50% |
| 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 |
IPNAX Costs Over Time
On $10,000 invested in IPNAX, assuming 5% a year before costs, total costs come to $1,154 over 5 years, cutting the return by 1.97% 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 | $450 | $450 | $450 |
| Fund expenses (net expense ratio 0.97%) | $97 | $304 | $527 |
| Lost growth on money paid in costs | $23 | $86 | $177 |
| Total costs | $570 | $840 | $1,154 |
| Value after costs | $9,930 | $10,737 | $11,609 |
| Impact on return, per year | 5.70% | 2.60% | 1.97% |
IPNAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $41.5M
- Portfolio turnover (prospectus): 42%
- Securities on loan, average value: $776K
- Net income from securities lending: $8K (0.023% of average net assets)
IPNAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $4.5M | 13.68% |
| BOFA SECURITIES, INC. | $4.2M | 12.93% |
| GOLDMAN SACHS & CO. LLC | $3.9M | 12.00% |
| MORGAN STANLEY & CO. LLC | $3.7M | 11.31% |
| J.P. Morgan Securities LLC | $3.7M | 11.24% |
| CitiGroup Global Markets Inc. | $3.0M | 9.21% |
| BARCLAYS CAPITAL, INC. | $2.6M | 8.05% |
| TRADEWEB DIRECT LLC | $2.6M | 8.03% |
| Jane Street Execution Services, LLC | $2.4M | 7.34% |
| WELLS FARGO SECURITIES, LLC | $2.0M | 6.21% |
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.