IVJAX Fees and Costs — Delaware Ivy International Small Cap Fund, Class A
Data updated: 2023-08-29
The net expense ratio is 1.24%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.78% other expenses, less a 0.79% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2022 the fund paid $71K in broker commissions, 0.0978% of average net assets, and portfolio turnover was 132%.
IVJAX Fees and Expenses
Annual operating expenses and sales charges of IVJAX. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.78% |
| Gross expense ratio | 2.03% |
| Fee waiver | −0.79% |
| Net expense ratio | 1.24% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
IVJAX Costs Over Time
On $10,000 invested in IVJAX, assuming 5% a year before costs, total costs come to $1,517 over 5 years, cutting the return by 2.62% 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 | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.24%) | $123 | $382 | $659 |
| Trading costs (broker commissions) | $10 | $30 | $52 |
| Lost growth on money paid in costs | $29 | $111 | $231 |
| Total costs | $834 | $1,098 | $1,517 |
| Value after costs | $9,666 | $10,479 | $11,246 |
| Impact on return, per year | 8.34% | 3.43% | 2.62% |
IVJAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0978%
- Total broker commissions: $71K
- Bought from dealers (principal trades, not a cost): $193K
- Portfolio turnover (prospectus): 132%
- Securities on loan, average value: $1.8M
- Net income from securities lending: $39K (0.054% of average net assets)
IVJAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $14K | 21.94% |
| HSBC SECURITIES (USA) INC. | $11K | 18.26% |
| CREDIT SUISSE SECURITIES (USA) LLC | $8K | 13.02% |
| MORGAN STANLEY & CO. LLC | $8K | 12.42% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $5K | 7.80% |
| CitiGroup Global Markets Inc. | $4K | 6.89% |
| BOFA SECURITIES, INC. | $3K | 5.62% |
| RBC CAPITAL MARKETS, LLC | $3K | 5.14% |
| UBS Securities LLC | $3K | 4.56% |
| LIQUIDNET, INC. | $3K | 4.36% |
IVJAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| HSBC SECURITIES (USA), INC. | $185K | 95.84% |
| UBS SECURITIES LLC | $8K | 4.16% |
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.