The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.
Performance data current to the most recent month end may be obtained by calling 800 523-1918 or visiting delawareinvestments.com/performance.
Total returns may reflect waivers and/or expense reimbursements by the manager and/or distributor for some or all of the periods shown. Performance would have been lower without such waivers and reimbursements.
|Average annual total return as of quarter-end (03/31/2014)|
|YTD||1 year||3 year||5 year||10 year||Lifetime||Inception|
|Class A (NAV)||0.89%||0.89%||13.04%||8.13%||15.79%||6.40%||5.00%||12/31/1997|
|Class A (at offer)||-4.93%||-4.93%||6.59%||6.02%||14.41%||5.77%||4.62%|
|Institutional Class shares||0.97%||0.97%||13.34%||8.42%||16.05%||6.66%||5.26%||12/31/1997|
|S&P 500 Index||1.81%||1.81%||21.86%||14.66%||21.16%||7.42%||n/a|
Returns for less than one year are not annualized.
Class A shares have a maximum up-front sales charge of 5.75% and are subject to an annual distribution fee.
Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.
The S&P 500 Index measures the performance of 500 mostly large-cap stocks weighted by market value, and is often used to represent performance of the U.S. stock market.
|Class A (Gross)||1.47%|
|Class A (Net)||1.15%|
|Institutional Class shares (Gross)||1.22%|
|Institutional Class shares (Net)||0.90%|
Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from Jan. 28, 2014 to Jan. 28, 2015. Please see the fee table in the Fund’s prospectus for more information.
|Top 10 holdings as of 03/31/2014|
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
|Holding||% of portfolio|
|Teva Pharmaceutical Industries Ltd.||1.0%|
|EOG Resources Inc.||0.9%|
|Toyota Motor Corp.||0.8%|
|Total % Portfolio in Top 10 holdings||8.2%|
Institutional Class shares are only available to certain investors. See the prospectus for more information.
All third-party marks cited are the property of their respective owners.
Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Fund’s prospectus and its summary prospectus, which may be obtained by clicking the prospectus link located in the right-hand sidebar or calling 800 523-1918. Investors should read the prospectus and the summary prospectus carefully before investing.
Investing involves risk, including the possible loss of principal.
This Fund is subject to the same risks as the underlying styles in which it invests.
Fixed income securities and bond funds can lose value, and investors can lose principal, as interest rates rise. They also may be affected by economic conditions that hinder an issuer’s ability to make interest and principal payments on its debt.
The Fund may also be subject to prepayment risk, the risk that the principal of a fixed income security that is held by the Fund may be prepaid prior to maturity, potentially forcing the Fund to reinvest that money at a lower interest rate.
High yielding, noninvestment grade bonds (junk bonds) involve higher risk than investment grade bonds.
If and when the Fund invests in forward foreign currency contracts or uses other investments to hedge against currency risks, the Fund will be subject to special risks, including counterparty risk.
International investments entail risks not ordinarily associated with U.S. investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations.
Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.
The Fund may experience portfolio turnover in excess of 100%, which could result in higher transaction costs and tax liability.
Risk controls and asset allocation models do not promise any level of performance or guarantee against loss of principal. Each Fund has a different level of risk.
Narrowly focused investments may exhibit higher volatility than investments in multiple industry sectors.
REIT investments are subject to many of the risks associated with direct real estate ownership, including changes in economic conditions, credit risk, and interest rate fluctuations.
Not FDIC Insured | No Bank Guarantee | May Lose Value