Delaware Emerging Markets Fund

Objective

Delaware Emerging Markets Fund seeks long-term capital appreciation.

Strategy

The Fund invests primarily in a broad range of equity securities of companies located in emerging market countries.

Fund information
Inception date06/10/1996
Dividends paid (if any)Annually
Capital gains paid (if any)November or December
Fund identifiers
NASDAQDEMIX
CUSIP245914817

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 (01/31/2017)

as of quarter-end (12/31/2016)

YTD1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)7.36%37.36%2.46%3.88%4.57%7.75%06/10/1996
MSCI Emerging Markets Index (Gross)5.48%25.88%1.81%0.55%2.83%n/a
MSCI Emerging Markets Index (Net)5.47%25.41%1.44%0.19%2.49%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)-4.80%17.89%-2.27%4.43%3.83%7.41%06/10/1996
MSCI Emerging Markets Index (Gross)-4.08%11.60%-2.19%1.64%2.17%n/a
MSCI Emerging Markets Index (Net)-4.16%11.19%-2.55%1.28%1.84%n/a

Returns for less than one year are not annualized.

Index performance returns do not reflect any management fees, transaction costs, or expenses. Indices are unmanaged and one cannot invest directly in an index.

Expense ratio
Gross1.48%
Net1.45%

Net expense ratio reflects a contractual waiver of certain fees and/or expense reimbursements from May 2, 2016 through May 2, 2017. Please see the fee table in the Fund’s prospectus for more information.

Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20165.54%2.66%14.30%-4.80%17.89%
2015-3.93%4.81%-21.66%9.34%-13.75%
2014-1.41%7.92%-3.41%-10.66%-8.18%
20132.15%-5.16%13.61%3.57%13.99%
201212.11%-11.73%9.48%7.73%16.72%
20113.60%-3.96%-25.47%6.98%-20.66%
20102.71%-10.48%18.01%9.54%18.85%
2009-0.91%35.18%22.81%8.59%78.62%
2008-9.65%1.79%-26.84%-26.59%-50.61%
20073.17%17.54%11.10%4.59%40.92%

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

Portfolio characteristics - as of 01/31/2017MSCI Emerging Markets Index (Net)
Number of holdings112640
Market cap (median)$5.73 billion$5.71 billion
Market cap (weighted average)$50.81 billion$62.71 billion
Portfolio turnover (last fiscal year)12%n/a
Beta (relative to MSCI Emerging Markets Index (Net)) (view definition)1.21n/a
Annualized standard deviation, 3 years (view definition)20.50n/a
Portfolio composition as of 01/31/2017Total may not equal 100% due to rounding.Values in excess of 100% and negative values may appear as the result of certain assets and liabilities.
International equities & depositary receipts98.2%
Domestic equities0.9%
Cash and cash equivalents0.9%
Top 10 equity holdings as of 01/31/2017
Holdings are as of the date indicated and subject to change.
List excludes cash and cash equivalents.
Holdings based by issuer.
Holding% of portfolio
Reliance Industries Ltd5.7%
Samsung Electronics Co Ltd5.2%
SINA Corp/China4.5%
Alibaba Group Holding Ltd3.2%
SK Telecom Co Ltd3.0%
Baidu Inc3.0%
Tencent Holdings Ltd2.9%
Sohu.com Inc2.9%
Coca-Cola Femsa SAB de CV2.8%
Itau Unibanco Holding SA2.3%
Total % Portfolio in Top 10 holdings35.5%

Top 10 countries as of 01/31/2017

List excludes cash and cash equivalents.

Country% of portfolio
China28.4%
Brazil15.0%
South Korea13.8%
Russia11.8%
India7.6%
Mexico7.0%
Taiwan4.1%
Argentina3.1%
Turkey2.7%
Canada1.3%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
Return of
capital
20170.0000.0000.000
20160.0000.1370.000
20150.0000.0140.024
20140.3480.1060.000
20130.0000.1540.000
20120.0000.1420.000
20110.1390.1670.000
20100.0000.1200.000
20090.0000.0310.000
20080.8230.0510.000
20075.4810.2830.000

1If a Fund makes a distribution from any source other than net income, it is required to provide shareholders with a notice disclosing the source of such distribution (each a "Notice"). The amounts and sources of distributions reported above and in each Notice are only estimates and are not provided for tax reporting purposes. Each Fund will send each shareholder a Form 1099 DIV for the calendar year that will provide definitive information on how to report the Fund's distributions for federal income tax purposes. The information in the table above will not be updated to reflect any subsequent recharacterization of dividends and distributions. Click here to see recent Notices pertaining to the Fund (if any).

2Information on return of capital distributions (if any) is only provided from June 1, 2014 onward.

3Includes both short- and long-term capital gains.

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

Liu-Er Chen

Liu-Er Chen, CFA

Senior Vice President, Chief Investment Officer — Emerging Markets and Healthcare

Start date on the Fund: September 2006

Years of industry experience: 21

(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 fees1.18%
Distribution and service (12b-1) feesnone
Other expenses0.30%
Total annual fund operating expenses1.48%
Fee waivers and expense reimbursements(0.03%)
Total annual fund operating expenses after fee waivers and expense reimbursements1.45%

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

1The Fund's investment manager, Delaware Management Company (Manager), has contractually agreed to waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations) in order to prevent total annual fund operating expenses from exceeding 1.45% of the Fund's average daily net assets from May 2, 2016 through May 2, 2017 for all share classes other than Class R6, and 1.32% of the Fund's Class R6 shares' average daily net assets from May 2, 2016 through May 2, 2017. These waivers and reimbursements may only be terminated by agreement of the Manager and the Fund.

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.

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.

Investments in small and/or medium-sized companies typically exhibit greater risk and higher volatility than larger, more established companies.

All third-party marks cited are the property of their respective owners.

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 02/17/2017)

Institutional ClassPriceNet change
NAV$16.12-0.07
Max offer price$16.12n/a

Total net assets (as of 01/31/2017)

$2.5 billion all share classes

Overall Morningstar RatingTM

 
Institutional Class shares (as of 01/31/2017)
RatingNo. of funds
Overall4607
3 Yrs3607
5 Yrs4427
10 Yrs4175
Morningstar categoryDiversified Emerging Mkts

(View Morningstar disclosure)

Morningstar ranking (as of 01/31/2017)

YTD ranking63 / 886
1 year26 / 814
3 years128 / 607
5 years37 / 427
10 years5 / 175
Morningstar categoryDiversified Emerging Mkts

(View Morningstar disclosure)

Lipper ranking (as of 01/31/2017)

YTD ranking64 / 911
1 year35 / 846
3 years134 / 629
5 years46 / 446
10 years8 / 175
Lipper classificationEmerging Markets Funds

(View Lipper disclosure)

Benchmark, peer group

MSCI Emerging Markets Index (view definition)

Morningstar Diversified Emerging Markets Category (view definition)

Lipper Emerging Markets Funds Average (view definition)

Additional information