IVJYX — Delaware Ivy International Small Cap Fund
Data updated: 2023-08-29
IVJYX — Delaware Ivy International Small Cap Fund. Europe Small Cap Blend / Core Equity · $34.24M AUM. Holdings, fees, performance and SEC filings.
IVJYX Fund Overview
IVJYX — Delaware Ivy International Small Cap Fund is a US mutual fund managed by Ivy Funds, categorised as Europe Small Cap Blend / Core Equity. 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: Europe Small Cap Blend / Core Equity
- Assets under management: $34.24M
- 1-year return: 7.3%
- Ticker: IVJYX
- SEC CIK: 0000883622
- SEC series ID: S000056044
- Share class ID: C000176469
IVJYX Investment Objective and Strategy
Delaware Ivy International Small Cap 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 capital growth and appreciation.
Principal investment strategy
Ivy IG International Small Cap Fund seeks to achieve its objective to provide capital growth and appreciation by investing, under normal circumstances, at least 80% of its net assets in common stocks of small-capitalization companies. For purposes of this Fund, small-capitalization companies are companies with market capitalizations within the range of companies in the MSCI EAFE Small Cap Index. As of September 30, 2017, this range of market capitalizations was between approximately $43.6 million and $12.39 billion. The Fund seeks to be diversified geographically and by industry and, under normal circumstances, will invest primarily in companies located in developed markets outside the United States and Canada, although the Fund also may invest in companies located in emerging markets. The Fund also may invest in depositary receipts (e.g., American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts) of foreign issuers.
The Fund may invest up to 100% of its total assets in foreign securities, including securities denominated in currencies other than the U.S. dollar. In addition, the Fund may use forward contracts in seeking to manage its exposure (increase or decrease) to various foreign currencies. The Fund uses a blend strategy to gain investment exposure to both growth and value stocks, or to stocks with characteristics of both. The Fund may focus a portion of its investments in a particular sector or sectors of the economy. 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 additional foreign markets through investments in these companies, even if the Fund is not invested directly in such markets.
In selecting common stocks for the Fund, the Funds investment sub-advisers, I.G. International Management Ltd. (IG Ireland) and I.G. Investment Management (Hong Kong) Limited (IG Hong Kong, and collectively with IG Ireland, IGI), seek to invest in companies that possess what IGI believes are innovative and cost-effective products and services, and which IGI believes are well-positioned for substantial future growth. IGI favors companies that it believes are attractively valued, that possess a sustainable competitive advantage (i.e., market share, global scale, or low costs) and that are equipped with a strong and experienced management and ownership team. In its stock selection, IGI follows a three-stage process that includes idea generation, fundamental analysis and portfolio construction.
IGI begins the stock selection process by utilizing initial filters (i.e., market cap) to narrow the investment universe, followed by a specific set of criteria to filter and rank the universe by sector. Part of this idea generation stage includes considering internal and external research ideas, meeting with company management and developing investment themes (top down view). The fundamental analysis stage consists of identifying stock and sector themes through proprietary and third party analyst discussion and research, financial statement analysis, valuation modeling and further meetings with company management. Finally, the portfolio construction stage utilizes a well-defined set of portfolio parameters, while seeking to balance the investment thesis of each security in relation to other securities within the portfolio.
Generally, in determining whether to sell a security, IGI uses the same type of analysis that it uses in buying securities. IGI may sell a security if it significantly exceeds it price and valuation targets, if IGI has a high conviction that the securitys earnings will be substantially below expectations, if IGIs buy thesis is no longer valid due to company specific changes, or if there is a significant change within the business or the macro landscape that impacts its investment thesis. IGI also may sell a security to reduce the Funds holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
IVJYX Holdings
Top 10 holdings of Delaware Ivy International Small Cap Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| ATS Corp | 2.80% |
| Varun Beverages Ltd | 2.77% |
| Asics Corp | 2.35% |
| Fukuoka Financial Group Inc | 2.30% |
| Mebuki Financial Group Inc | 2.21% |
| TechnoPro Holdings Inc | 2.19% |
| Amvis Holdings Inc | 2.18% |
| Jyske Bank A/S | 2.03% |
| Capital Power Corp | 2.01% |
| IHI Corp | 1.90% |
IVJYX Portfolio Allocation
Asset-class allocation of Delaware Ivy International Small Cap Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.8% |
| Cash & Equivalents | 2.8% |
IVJYX Performance
Total returns for IVJYX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 7.3% |
| 3 years (annualised) | -5.7% |
IVJYX Risk Information
Risk metrics for IVJYX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 21.9%
IVJYX Costs and Fees
IVJYX costs about $124 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.24%
- Gross expense ratio: 1.94%
- Portfolio turnover: 132%
- Brokerage commissions: 9.78 bps of average net assets (SEC N-CEN)
IVJYX Cashflows
Over the 12 months to 2023-06, Delaware Ivy International Small Cap Fund had net inflows of $40.01M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | $1.36M |
| 2023-05 | $5.00M |
| 2023-04 | $989.65K |
| 2023-03 | $2.05M |
| 2023-02 | $2.13M |
| 2023-01 | $6.65M |
IVJYX Debt Constituents
No individual debt constituents are reported in Delaware Ivy International Small Cap Fund's latest SEC N-PORT filing.
IVJYX Prospectus and SEC Filings
Official Delaware Ivy International Small Cap Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus supplement (497) — filed 2021-02-04
- Portfolio holdings (N-PORT) — filed 2023-08-29
- Portfolio holdings (N-PORT) — filed 2023-05-23
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Annual census (N-CEN) — filed 2022-12-13
- Annual census (N-CEN) — filed 2021-12-27
Related Funds
Other Europe Small Cap Blend / Core Equity 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.