Delaware Dividend Income Fund

Objective

Delaware Dividend Income Fund seeks to provide high current income and an investment that has the potential for capital appreciation.

Strategy

The Fund invests primarily in income generating securities (debt and equity), which may include equity securities of large, well-established companies, and debt securities, including high yield, high-risk corporate bonds, investment grade fixed income securities, and U.S. government securities.

Fund information
Inception date12/02/1996
Dividends paid*Monthly
Capital gains paid*December

*If any.

Fund identifiers
NASDAQDDIIX
CUSIP24610B404

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

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.

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 month-end (03/31/2014)
YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)2.67%13.96%10.69%18.32%6.82%8.56%12/02/1996
S&P 500 Index1.81%21.86%14.66%21.16%7.42%n/a
Average annual total return as of quarter-end (03/31/2014)
QTDYTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)2.67%2.67%13.96%10.69%18.32%6.82%8.56%12/02/1996
S&P 500 Index1.81%1.81%21.86%14.66%21.16%7.42%n/a

Returns for less than one year are not annualized.

Expense ratio
Gross0.87%
Net0.87%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20142.67%n/an/an/an/a
20138.11%1.40%3.21%6.06%20.00%
20127.59%-0.51%4.31%2.05%13.93%
20115.92%0.45%-11.34%8.49%2.34%
20104.10%-5.70%8.72%6.61%13.78%
2009-3.61%15.66%14.78%6.88%36.76%
2008-6.30%-2.96%-8.23%-18.88%-32.31%
20071.81%1.98%-1.50%-5.82%-3.69%
20065.68%0.23%6.01%6.71%19.84%
2005-1.41%2.38%2.26%-0.20%3.01%
20043.00%-1.24%2.31%6.37%10.70%

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

Portfolio characteristics - as of 03/31/2014
Share assets$74.3 million
Number of holdings473
Market cap (median)$8.62 billion
Market cap (weighted average)$72.49 billion
Portfolio turnover (last fiscal year)51%
Beta (relative to S&P 500 Index) (view definition)0.68
Annualized standard deviation, 3 years (view definition)8.82
SEC 30-day yield with waiver (view definition)2.28%
SEC 30-day yield without waiver (view definition)2.28%
Portfolio composition as of 03/31/2014Total may not equal 100% due to rounding.
Large cap value54.4%
High yield bonds16.7%
Convertible securities13.2%
Real estate7.7%
Cash and cash equivalents5.1%
Other2.9%
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
Edison International1.5%
Quest Diagnostics Inc.1.5%
Baxter International Inc.1.5%
AT&T Inc.1.5%
Bank of New York Mellon Corp.1.4%
ConocoPhillips1.4%
Johnson & Johnson1.4%
Halliburton Co.1.4%
Intel Corp.1.4%
Xerox Corp.1.4%
Total % Portfolio in Top 10 holdings14.4%

Holdings are as of the date indicated and subject to change.

Distribution history - annual distributions (Institutional Class)
Distributions ($ per share)
YearCapital gainsDividends
20140.0000.119
20130.0000.310
20120.0000.383
20110.0000.378
20100.0000.394
20090.0000.420
20080.0000.530
20070.3360.505
20060.0610.444
20050.0660.464
20040.0810.359

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

Bob Zenouzi

Bob Zenouzi 

Chief Investment Officer — Real Estate Securities and Income Solutions (RESIS)

Start date on the Fund: May 2006

(View bio)


Damon Andres

Damon Andres, CFA

Senior Portfolio Manager

Start date on the Fund: December 1996

(View bio)


Ty Nutt

Ty Nutt  

Senior Portfolio Manager, Team Leader

Start date on the Fund: March 2005

(View bio)


Anthony Lombardi

Anthony A. Lombardi, CFA

Senior Portfolio Manager

Start date on the Fund: March 2005

(View bio)


Bob Vogel

Robert A. Vogel Jr., CFA

Senior Portfolio Manager

Start date on the Fund: March 2005

(View bio)


Nik Lalvani

Nikhil G. Lalvani, CFA

Senior Portfolio Manager

Start date on the Fund: October 2006

(View bio)


Kristen Bartholdson

Kristen E. Bartholdson 

Senior Portfolio Manager

Start date on the Fund: December 2008

(View bio)


Wayne Anglace

Wayne A. Anglace, CFA

Senior Portfolio Manager

Start date on the Fund: March 2010

(View bio)


Ned Gray

Ned Gray, CFA

Chief Investment Officer — Global and International Value Equity

Start date on the Fund: March 2011

(View bio)


Thomas Chow

Thomas H. Chow, CFA

Chief Investment Officer — Corporate Credit

Start date on the Fund: December 2012

(View bio)


Paul Matlack

Paul Matlack, CFA

Senior Portfolio Manager, Fixed Income Strategist

Start date on the Fund: December 2012

(View bio)


Craig Dembeck

Craig C. Dembek, CFA

Co-Head of Credit Research, Senior Research Analyst

Start date on the Fund: December 2012

(View bio)


John McCarthy

John P. McCarthy, CFA

Co-Head of Credit Research, Senior Research Analyst

Start date on the Fund: December 2012

(View bio)


Institutional Class shares are only available to certain investors. See the prospectus for more information. 

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder fees
Maximum sales charge (load) imposed on purchases as a percentage of offering pricenone
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lowernone
Annual fund operating expenses
Management fees0.65%
Distribution and service (12b-1) feesnone
Other expenses0.22%
Total annual fund operating expenses0.87%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.87%

Institutional Class shares are only available to certain investors. See the prospectus for more information. 

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 800 362-7500. Investors should read the prospectus and the summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

The Fund may invest up to 45% of its net assets in high yield, higher-risk corporate bonds.

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.

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 Funds are distributed by Delaware Distributors L.P., an affiliate of Delaware Management Holdings, Inc., and Macquarie Group Limited.

Not FDIC Insured | No Bank Guarantee | May Lose Value

Fund Finder

Daily pricing (as of 04/23/2014)

Institutional ClassPriceNet changeYTD
NAV$13.22-0.013.02%
Max offer price$13.22n/an/a

Total net assets (as of 03/31/2014)

$683.3 million all share classes

Lipper ranking (as of 03/31/2014)

YTD ranking68 / 259
1 year44 / 220
3 years11 / 142
5 years4 / 94
10 years12 / 48
Lipper classificationFlexible Portfolio Funds

(View Lipper disclosure)

Any Macquarie Group entity or fund noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and that entity's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise. 

Delaware Investments refers to Delaware Management Holdings, Inc. (DMHI) and its subsidiaries. Delaware Investments is a member of Macquarie Group. Macquarie Group refers to Macquarie Group Limited (MGL) and its subsidiaries and affiliates worldwide.

© 2014 Delaware Management Holdings, Inc.

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