Delaware Value® Fund*

Objective

Delaware Value® Fund seeks long-term capital appreciation.

Strategy

The Fund invests in large-capitalization companies, seeking consistent long-term performance. The Fund follows a traditional value-oriented investment philosophy using a research-intensive approach.

Fund information
Inception date09/15/1998
Dividends paid (if any)Quarterly
Capital gains paid (if any)November or December
Fund identifiers
NASDAQDDVIX
CUSIP24610C857

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)-0.20%19.94%10.66%14.16%6.63%7.75%09/15/1998
Russell 1000 Value Index0.71%24.62%10.16%14.11%5.66%n/a
1 year3 year5 year10 yearLifetimeInception date
NAV (view definition)3.60%14.78%9.15%14.72%6.81%7.80%09/15/1998
Russell 1000 Value Index6.68%17.34%8.59%14.80%5.72%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
Gross0.72%
Net0.72%
Quarterly total returns @ NAV
Year1st quarter2nd quarter3rd quarter4th quarterAnnual return
20161.69%8.98%-0.03%3.60%14.78%
20151.83%-1.67%-7.28%7.33%-0.35%
20142.79%5.51%1.74%3.05%13.69%
201312.24%3.91%4.47%9.52%33.44%
20128.25%-0.42%4.79%1.35%14.48%
20117.86%1.71%-12.91%14.23%9.14%
20103.75%-9.68%12.60%9.96%16.03%
2009-10.67%10.53%11.45%7.03%17.77%
2008-9.70%-5.74%-8.79%-13.55%-32.88%
20070.45%6.44%-2.85%-6.39%-2.77%

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

Portfolio characteristics - as of 01/31/2017Russell 1000 Value Index
Number of holdings33693
Market cap (median)$51.79 billion$8.43 billion
Market cap (weighted average)$88.64 billion$117.20 billion
Portfolio turnover (last fiscal year)12%n/a
Beta (relative to Russell 1000 Value Index) (view definition)0.89n/a
SEC 30-day yield with waiver (view definition)1.79%
SEC 30-day yield without waiver (view definition)1.79%
Annualized standard deviation, 3 years (view definition)10.03n/a
Portfolio composition as of 01/31/2017Total may not equal 100% due to rounding.
Domestic equities98.9%
Cash and cash equivalents1.1%
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.
Holding% of portfolio
Halliburton Co.3.3%
Abbott Laboratories3.3%
EI du Pont de Nemours & Co.3.2%
BB&T Corp.3.1%
AT&T Inc.3.1%
Mondelez International Inc.3.1%
Kraft Heinz Co.3.1%
Oracle Corp.3.1%
Quest Diagnostics Inc.3.1%
Allstate Corp.3.1%
Total % Portfolio in Top 10 holdings31.5%

Equity sectors as of 01/31/2017

List excludes cash and cash equivalents.

SectorFundBenchmark
Healthcare21.4%0.0%
Energy13.9%0.0%
Information technology12.1%0.0%
Financials12.1%0.0%
Consumer staples12.1%0.0%
Industrials9.0%0.0%
Telecommunication services6.0%0.0%
Materials3.2%0.0%
Utilities3.1%0.0%
Consumer discretionary3.1%0.0%
Real Estate3.0%0.0%
Distribution history - annual distributions (Institutional Class)1,2
Distributions ($ per share)
YearCapital gains3Net investment
income
20170.0000.000
20160.1590.335
20150.2430.332
20140.0000.289
20130.0000.258
20120.0000.199
20110.0000.221
20100.0000.202
20090.0000.209
20080.0000.279
20070.6500.274

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. 

The process is our star

The Large-Cap Value team at Delaware Investments discusses why a fundamental research-driven process, with roots going back to the 1970s, is the true star of the team.

Watch the video

Read video transcript

Ty Nutt

Ty Nutt  

Senior Vice President, Senior Portfolio Manager, Team Leader

Start date on the Fund: July 2004

Years of industry experience: 34

(View bio)


Kristen Bartholdson

Kristen E. Bartholdson 

Vice President, Senior Portfolio Manager

Start date on the Fund: December 2008

Years of industry experience: 16

(View bio)


Nik Lalvani

Nikhil G. Lalvani, CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: October 2006

Years of industry experience: 20

(View bio)


Bob Vogel

Robert A. Vogel Jr., CFA

Vice President, Senior Portfolio Manager

Start date on the Fund: July 2004

Years of industry experience: 25

(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 fees0.52%
Distribution and service (12b-1) feesnone
Other expenses0.20%
Total annual fund operating expenses0.72%
Fee waivers and expense reimbursementsnone
Total annual fund operating expenses after fee waivers and expense reimbursements0.72%

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

*Effective after the close of business on October 10, 2016, Delaware Value Fund was closed to new investors. Existing shareholders of the Fund; certain retirement plans and IRA transfers and rollovers from these plans; and certain advisory or fee-based programs sponsored by and/or controlled by financial intermediaries where the financial intermediary has entered into an arrangement with the Fund’s Distributor or transfer agent (mutual fund wrap accounts) may continue to purchase shares. Please read the latest prospectus and the summary prospectus for more information concerning this event.

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

Russell Investment Group is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

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.

Because the Fund expects to hold a concentrated portfolio of a limited number of securities, the Fund's risk is increased because each investment has a greater effect on the Fund's overall performance.

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$20.270.11
Max offer price$20.27n/a

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

$14.3 billion all share classes

Overall Morningstar RatingTM

 
Institutional Class shares (as of 01/31/2017)
RatingNo. of funds
Overall41095
3 Yrs41095
5 Yrs5937
10 Yrs4681
Morningstar categoryLarge Value

(View Morningstar disclosure)

Morningstar ranking (as of 01/31/2017)

YTD ranking1260 / 1327
1 year879 / 1269
3 years89 / 1095
5 years90 / 937
10 years117 / 681
Morningstar categoryLarge Value

(View Morningstar disclosure)

Lipper ranking (as of 01/31/2017)

YTD ranking475 / 508
1 year379 / 484
3 years21 / 414
5 years41 / 370
10 years27 / 256
Lipper classificationLarge-Cap Value Funds

(View Lipper disclosure)

Benchmark, peer group

Russell 1000® Value Index (view definition)

Morningstar Large Value Category (view definition)

Lipper Large-Cap Value Funds Average (view definition)

Additional information