IVHEX — Nomura High Income Fund
Data updated: 2026-08-26
IVHEX — Nomura High Income Fund. Intermediate Corporate Bond · $1.64B AUM · 1.04% expense ratio. Holdings, fees, performance and SEC filings.
IVHEX Fund Overview
IVHEX — Nomura High Income Fund is a US mutual fund managed by Ivy Funds, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ivy Funds
- Category: Intermediate Corporate Bond
- Assets under management: $1.64B
- 1-year return: -8.6%
- Ticker: IVHEX
- SEC CIK: 0000883622
- SEC series ID: S000006289
- Share class ID: C000043903
IVHEX Investment Objective and Strategy
Nomura High Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Funds.
Investment objective
To seek to provide total return through a combination of high current income and capital appreciation.
Principal investment strategy
Ivy High Income Fund seeks to achieve its objective by investing primarily in a diversified portfolio of high-yield, high-risk, fixed-income securities, including secured and unsecured loan assignments, loan participations and other loan instruments (loans), of U.S. and foreign issuers, the risks of which are, in the judgment of IICO, consistent with the Funds objective. The Fund invests primarily in lower-quality debt securities, which include debt securities rated BBB+ or lower by S&P Global Ratings, a division of S&P Global Inc. (S&P), or comparably rated by another nationally recognized statistical rating organization (NRSRO) or, if unrated, determined by IICO to be of comparable quality. The Fund may invest up to 100% of its total assets in non-investment grade debt securities, commonly called high yield or junk bonds, which include debt securities rated BB+ or lower by S&P or comparably rated by another NRSRO or, if unrated, determined by IICO to be of comparable quality.
The Fund may invest in fixed-income securities of any maturity. The Fund may invest up to 100% of its total assets in foreign securities that are denominated in U.S. dollars or foreign currencies. Many of the companies in which the Fund may invest have diverse operations, with products or services in foreign markets. Therefore, the Fund may have indirect exposure to various foreign markets through investments in these companies, even if the Fund is not invested directly in such markets. The Fund may invest in private placements and other restricted securities. Although IICO considers credit ratings in selecting investments for the Fund, IICO bases its investment decisions for a particular instrument primarily on its own credit analysis and not on a NRSROs credit rating. IICO may look at a number of factors in selecting securities for the Fund, beginning with a primarily bottom-up (researching individual issuers) analysis of a companys fundamentals, including: financial strength, growth of operating cash flows, strength of management, borrowing requirements, improving credit metrics, potential to improve credit standing, responsiveness to changes in interest rates and business conditions, strength of business model, competitive advantage and capital structure and future capital needs, and progressing to consideration of the current economic environment, the direction and level of interest rates and inflation, and industry fundamentals and trends in the general economy.
IICO also may conduct a screening of issuers to narrow the investment universe, and considers characteristics such as yield, performance, maturity and relative value across and within sectors. IICO attempts to optimize the Funds risk/reward by investing in the debt portion of the capital structure that IICO believes to be most attractive, which may include secured and/or unsecured loans, floating rate notes and/or secured and/or unsecured high-yield bonds. For example, if IICO believes that market conditions are favorable for a particular type of fixed-income instrument, such as high yield bonds, most or all of the fixed-income instruments in which the Fund invests may be high yield bonds. Similarly, if IICO believes that market conditions are favorable for loans, most or all of the fixed-income instruments in which the Fund invests may be loans, including second-lien loans which typically are lower in the capital structure and less liquid than first-lien loans.
Generally, in determining whether to sell a security, IICO considers the dynamics of an industry and/or company change or anticipated change, a change in strategy by a company, a deterioration of the companys financial model, credit quality or credit standing, and/or a change in managements consideration of its creditors. IICO also may sell a security if, in IICOs opinion, the price of the security has risen to fully reflect the companys improved creditworthiness and other investments with greater potential exist. IICO also may sell a security to take advantage of what it believes are more attractive investment opportunities, to reduce the Funds holding in that security or to raise cash.
IVHEX Holdings
Top 10 holdings of Nomura High Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Morgan Stanley Institutional Liquidity Funds | 1.60% |
| Goldman Sachs Trust | 1.60% |
| Fidelity Colchester Street Trust | 1.60% |
| Blackrock Liquidity Funds | 1.60% |
| Cco Holdings LLC / Cco Holdings Capital Corp. | 1.39% |
| New Cotai Equity | 1.10% |
| Vistra Corp. | 1.06% |
| Transdigm, Inc. | 0.99% |
| Fortress Transportation And Infrastructure Investors LLC | 0.88% |
| Standard Building Solutions, Inc. | 0.85% |
IVHEX Portfolio Allocation
Asset-class allocation of Nomura High Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 90.8% |
| Cash & Equivalents | 6.4% |
| Equity | 0.7% |
| Loans | 0.4% |
IVHEX Performance
Total returns for IVHEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -8.6% |
| 3 years (annualised) | -3.2% |
IVHEX Risk Information
Risk metrics for IVHEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.1%
IVHEX Costs and Fees
IVHEX costs about $104 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.04%
- Gross expense ratio: 1.21%
- Portfolio turnover: 34%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
IVHEX Cashflows
Over the 12 months to 2026-06, Nomura High Income Fund had net outflows of $582.89M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$24.57M |
| 2026-05 | −$27.91M |
| 2026-04 | −$25.22M |
| 2026-03 | −$145.17M |
| 2026-02 | −$33.58M |
| 2026-01 | −$31.78M |
IVHEX Debt Constituents
Largest debt holdings of Nomura High Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Cco Holdings LLC / Cco Holdings Capital Corp. | 1.39% |
| New Cotai Equity | 1.10% |
| Vistra Corp. | 1.06% |
| Transdigm, Inc. | 0.99% |
| Fortress Transportation And Infrastructure Investors LLC | 0.88% |
| Standard Building Solutions, Inc. | 0.85% |
| Nova Chemicals Corp. | 0.81% |
| Sm Energy Company | 0.73% |
| Arsenal Aic Parent LLC | 0.69% |
| Ngl Energy Operating LLC | 0.68% |
IVHEX Prospectus and SEC Filings
Official Nomura High Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-29
- Prospectus (485BPOS) — filed 2025-07-29
- Prospectus (485BPOS) — filed 2024-07-29
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-06-12
- Annual census (N-CEN) — filed 2025-06-12
Related Funds
Other Intermediate Corporate 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.