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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-10431
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InvestEd Portfolios
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(Exact name of registrant as specified in charter)
100 Independence, 610 Market Street, Philadelphia, PA 19106-2354
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(Address of principal executive offices) (Zip code)
David F. Connor, Esq., 100 Independence, 610 Market Street, Philadelphia, PA 19106-2354
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(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 523-1918
Date of fiscal year end: December 31
Date of reporting period: June 30, 2021
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ITEM 1. REPORTS TO STOCKHOLDERS.
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INVESTED 529 PLAN |
Semiannual Report
JUNE 30, 2021 |
Ticker | ||||
InvestEd 90 Portfolio | WAGPX | |||
InvestEd 80 Portfolio | WAAJX | |||
InvestEd 70 Portfolio | WAGRX | |||
InvestEd 60 Portfolio | WBLAX | |||
InvestEd 50 Portfolio | WAAHX | |||
InvestEd 40 Portfolio | WICAX | |||
InvestEd 30 Portfolio | WAAGX | |||
InvestEd 20 Portfolio | WICPX | |||
InvestEd 10 Portfolio | WAAFX | |||
InvestEd 0 Portfolio | WFXPX |
Carefully consider the Portfolios’ investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Portfolios’ prospectus, which may be obtained by visiting www.ivyinvestments.com or calling 1-888-923-3355. Investors should read the prospectus carefully before investing. You can obtain shareholder reports and prospectuses online instead of in the mail. Visit www.ivyinvestments.com/go-paperless-with-eDelivery for more information.
IVY INVESTMENTS® refers to the investment management and investment advisory services offered by Macquarie Investment Management Business Trust (MIMBT) through its various series.
On December 2, 2020, Waddell & Reed Financial, Inc. (“WDR”), the parent company of Ivy Investment Management Company, the investment adviser of the InvestEd Portfolios, and Macquarie Management Holdings, Inc., the U.S. holding company for Macquarie Group Limited’s U.S. asset management business (“Macquarie”), announced that they had entered into an agreement whereby Macquarie would acquire the investment management business of WDR (the “Transaction”).
The Transaction closed on April 30, 2021. The InvestEd Portfolios, as part of Delaware Funds by Macquarie, are now managed by Delaware Management Company, a series of Macquarie Investment Management Business Trust, and distributed by Delaware Distributors, L.P.
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CONTENTS | INVESTED PORTFOLIOS |
3 | ||||
4 | ||||
9 | ||||
16 | ||||
18 | ||||
20 | ||||
22 | ||||
26 | ||||
42 | ||||
43 |
Macquarie Investment Management (MIM) is a global asset manager with offices in the United States, Europe, Asia, and Australia. As active managers, we prioritize autonomy and accountability at the investment team level in pursuit of opportunities that matter for clients. Delaware Funds is one of the longest-standing mutual fund families, with more than 80 years in existence.
If you are interested in learning more about creating an investment plan, contact your financial advisor.
You can learn more about Delaware Funds or obtain a prospectus at www.ivyinvestments.com/reports/invested.
Macquarie Asset Management (MAM) offers a diverse range of products including securities investment management, infrastructure and real asset management, and fund and equity-based structured products. MIM is the marketing name for certain companies comprising the asset management division of Macquarie Group. This includes the following investment advisers: Macquarie Investment Management Business Trust (MIMBT), Macquarie Funds Management Hong Kong Limited, Macquarie Investment Management Austria Kapitalanlage AG, Macquarie Investment Management Global Limited, Macquarie Investment Management Europe Limited, and Macquarie Investment Management Europe S.A.
The Funds are distributed by Delaware Distributors, L.P. (DDLP), an affiliate of MIMBT and Macquarie Group Limited.
Other than Macquarie Bank Limited (MBL), none of the entities noted are authorized deposit-taking institutions for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities, unless noted otherwise.
The Funds are governed by US laws and regulations. Unless otherwise noted, views expressed herein are current as of June 30, 2021, and subject to change for events occurring after such date. The Funds are not FDIC insured and are not guaranteed. It is possible to lose the principal amount invested.
Advisory services provided by Delaware Management Company, a series of MIMBT, a US registered investment advisor. All third-party marks cited are the property of their respective owners.
© 2021 Macquarie Management Holdings, Inc.
This report is submitted for the general information of the shareholders of InvestEd Portfolios. It is not authorized for distribution to prospective investors in the Portfolios unless preceded or accompanied by a current InvestEd Portfolios prospectus along with the InvestEd Program Overview and Ivy InvestEd 529 Plan Account Application.
Non-residents of Arizona or taxpayers of states other than Arizona should consider participating in the 529 plan(s) available in their state of residence, as such plan(s) may offer more favorable state income tax or other benefits than those offered under the Ivy InvestEd 529 Plan. Please consult your CPA or other tax advisor regarding your personal tax situation.
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ILLUSTRATION OF PORTFOLIO EXPENSES | INVESTED PORTFOLIOS |
(UNAUDITED)
Expense Example
As a shareholder of a Portfolio, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and exchange fees; and (2) ongoing costs, including management fees, distribution and service fees, and other Portfolio expenses. The following table is intended to help you understand your ongoing costs (in dollars) of investing in a Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds. As a shareholder in the underlying Ivy Funds, your Portfolio will indirectly bear its pro rata share of the expenses incurred by the underlying funds. These expenses are not included in a Portfolio’s annualized expense ratio or the expenses paid during the period. These expenses are, however, included in the effective expenses paid during the period. The example is based on an investment of $1,000 invested at the beginning of the period and held for the six-month period ended June 30, 2021.
Actual Expenses
The first section in the following table provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7. 5), then multiply the result by the number in the first section under the heading entitled “Expenses Paid during Period” to estimate the expenses you paid on your account during this period. There may be additional fees charged to holders of certain accounts that are not included in the expenses shown in the table. You should consider the additional fees that were charged to your Portfolio account over the six-month period when you estimate the total ongoing expenses paid over the period and the impact of these fees on your ending account value as such additional expenses are not reflected in the information provided in the expense table. Additional fees have the effect of reducing investment returns.
Hypothetical Example for Comparison Purposes
The second section in the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio’s actual expense ratio and an assumed rate of return of five percent per year before expenses, which is not the Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this five percent hypothetical example with the five percent hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), or exchange fees. Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Actual(1) | Hypothetical(2) | Annualized Expense Ratio Based on the Six-Month Period | ||||||||||||||||||||||||||
Portfolio | Beginning Account Value 12-31-20 | Ending Account Value 6-30-21 | Expenses Paid During Period* | Beginning Account Value 12-31-20 | Ending Account Value 6-30-21 | Expenses Paid During Period* | ||||||||||||||||||||||
InvestEd 0 Portfolio | $ | 1,000 | $ | 997.10 | $ | 1.20 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 10 Portfolio | $ | 1,000 | $ | 1,009.90 | $ | 1.21 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 20 Portfolio | $ | 1,000 | $ | 1,024.20 | $ | 1.21 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 30 Portfolio | $ | 1,000 | $ | 1,037.80 | $ | 1.22 | $ | 1,000 | $ | 1,023.55 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 40 Portfolio | $ | 1,000 | $ | 1,051.30 | $ | 1.23 | $ | 1,000 | $ | 1,023.55 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 50 Portfolio | $ | 1,000 | $ | 1,065.50 | $ | 1.24 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 60 Portfolio | $ | 1,000 | $ | 1,080.90 | $ | 1.25 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 70 Portfolio | $ | 1,000 | $ | 1,094.40 | $ | 1.26 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 80 Portfolio | $ | 1,000 | $ | 1,108.00 | $ | 1.26 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% | |||||||||||||||
InvestEd 90 Portfolio | $ | 1,000 | $ | 1,122.40 | $ | 1.27 | $ | 1,000 | $ | 1,023.56 | $ | 1.21 | 0.25% |
* | Portfolio expenses are equal to the Portfolio’s annualized expense ratio (provided in the table), multiplied by the average account value over the period, multiplied by 181 days in the six-month period ended June 30, 2021, and divided by 365. |
(1) | This section uses the Portfolio’s actual total return and actual Portfolio expenses. It is a guide to the actual expenses paid by the Portfolio in the period. The “Ending Account Value” shown is computed using the Portfolio’s actual return and the “Expenses Paid During Period” column shows the dollar amount that would have been paid by an investor who started with $1,000 in the Portfolio. A shareholder may use the information here, together with the dollar amount invested, to estimate the expenses that were paid over the period. For every thousand dollars a shareholder has invested, the expenses are listed in the last column of this section. |
(2) | This section uses a hypothetical five percent annual return and actual Portfolio expenses. It helps to compare the Portfolio’s ongoing costs with other mutual funds. A shareholder can compare the Portfolio’s ongoing costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other Portfolios. |
The above illustration is based on ongoing costs only and does not include any transactional costs, such as sales loads or exchange fees.
2021 | SEMIANNUAL REPORT | 3 |
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PORTFOLIO HIGHLIGHTS | INVESTED PORTFOLIOS |
ALL DATA IS AS OF JUNE 30, 2021 (UNAUDITED)
InvestEd 90 Portfolio – Asset Allocation
Affiliated Mutual Funds | 84.1% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 13.1% | |||
Delaware Ivy Core Equity Fund, Class R6 | 12.4% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 11.0% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 9.1% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 6.5% | |||
Delaware Ivy Value Fund, Class R6 | 5.3% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 4.8% | |||
Delaware Ivy Government Securities Fund, Class R6 | 3.9% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 3.0% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 2.9% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 2.2% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 2.1% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 2.0% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 1.9% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 1.5% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.8% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 0.7% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 0.5% | |||
Delaware Ivy High Income Fund, Class R6 | 0.2% | |||
Delaware Ivy Global Bond Fund, Class R6 | 0.2% | |||
Investment Funds | 15.6% | |||
Financials | 15.6% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.3% |
InvestEd 80 Portfolio – Asset Allocation
Affiliated Mutual Funds | 85.3% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 11.8% | |||
Delaware Ivy Core Equity Fund, Class R6 | 11.4% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 9.2% | |||
Delaware Ivy Government Securities Fund, Class R6 | 8.0% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 7.7% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 5.8% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 4.9% | |||
Delaware Ivy Value Fund, Class R6 | 4.8% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 4.5% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 3.9% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 2.5% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 2.5% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1.8% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1.8% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 1.3% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 1.2% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.8% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 0.7% | |||
Delaware Ivy Global Bond Fund, Class R6 | 0.5% | |||
Delaware Ivy High Income Fund, Class R6 | 0.2% | |||
Investment Funds | 14.1% | |||
Financials | 14.1% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.6% |
4 | SEMIANNUAL REPORT | 2021 |
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PORTFOLIO HIGHLIGHTS | INVESTED PORTFOLIOS |
ALL DATA IS AS OF JUNE 30, 2021 (UNAUDITED)
InvestEd 70 Portfolio – Asset Allocation
Affiliated Mutual Funds | 87.5% | |||
Delaware Ivy Government Securities Fund, Class R6 | 12.2% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 10.8% | |||
Delaware Ivy Core Equity Fund, Class R6 | 10.0% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 8.0% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 7.4% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 6.6% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 5.9% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 5.3% | |||
Delaware Ivy Value Fund, Class R6 | 4.1% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 4.0% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 2.1% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 2.1% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 2.0% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1.6% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1.6% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 1.2% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 1.0% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.7% | |||
Delaware Ivy Global Bond Fund, Class R6 | 0.7% | |||
Delaware Ivy High Income Fund, Class R6 | 0.2% | |||
Investment Funds | 12.4% | |||
Financials | 12.4% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.1% |
InvestEd 60 Portfolio – Asset Allocation
Affiliated Mutual Funds | 89.1% | |||
Delaware Ivy Government Securities Fund, Class R6 | 15.2% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 9.5% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 8.9% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 8.8% | |||
Delaware Ivy Core Equity Fund, Class R6 | 8.8% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 6.8% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 5.6% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 4.6% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 3.5% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 3.5% | |||
Delaware Ivy Value Fund, Class R6 | 3.3% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 1.7% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 1.7% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 1.5% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1.4% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1.3% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.0% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.9% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.6% | |||
Delaware Ivy High Income Fund, Class R6 | 0.5% | |||
Investment Funds | 10.7% | |||
Financials | 10.7% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.2% |
2021 | SEMIANNUAL REPORT | 5 |
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PORTFOLIO HIGHLIGHTS | INVESTED PORTFOLIOS |
ALL DATA IS AS OF JUNE 30, 2021 (UNAUDITED)
InvestEd 50 Portfolio – Asset Allocation
Affiliated Mutual Funds | 90.8% | |||
Delaware Ivy Government Securities Fund, Class R6 | 19.6% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 10.8% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 9.9% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 8.0% | |||
Delaware Ivy Core Equity Fund, Class R6 | 7.5% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 5.4% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 4.7% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 4.4% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 3.9% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 3.0% | |||
Delaware Ivy Value Fund, Class R6 | 3.0% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 2.3% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 1.4% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 1.4% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1.2% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.2% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1.1% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.8% | |||
Delaware Ivy High Income Fund, Class R6 | 0.7% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.5% | |||
Investment Funds | 8.7% | |||
Financials | 8.7% | |||
Cash and Other Assets (Net of Liabilities), and Cash Equivalents+ | 0.5% |
InvestEd 40 Portfolio – Asset Allocation
Affiliated Mutual Funds | 92.8% | |||
Delaware Ivy Government Securities Fund, Class R6 | 24.7% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 13.8% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 11.2% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 6.5% | |||
Delaware Ivy Core Equity Fund, Class R6 | 6.0% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 5.0% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 4.4% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 3.6% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 3.1% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 2.5% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 2.3% | |||
Delaware Ivy Value Fund, Class R6 | 2.3% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.5% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 1.1% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 1.1% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1.0% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1.0% | |||
Delaware Ivy High Income Fund, Class R6 | 0.7% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.6% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.4% | |||
Investment Funds | 7.0% | |||
Financials | 7.0% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.2% |
6 | SEMIANNUAL REPORT | 2021 |
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PORTFOLIO HIGHLIGHTS | INVESTED PORTFOLIOS |
ALL DATA IS AS OF JUNE 30, 2021 (UNAUDITED)
InvestEd 30 Portfolio – Asset Allocation
Affiliated Mutual Funds | 94.2% | |||
Delaware Ivy Government Securities Fund, Class R6 | 25.7% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 21.7% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 13.4% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 4.8% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 4.7% | |||
Delaware Ivy Core Equity Fund, Class R6 | 4.5% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 3.3% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 2.8% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 2.3% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 2.0% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 1.8% | |||
Delaware Ivy Value Fund, Class R6 | 1.8% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.2% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 0.9% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 0.9% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 0.6% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 0.6% | |||
Delaware Ivy High Income Fund, Class R6 | 0.5% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.5% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.2% | |||
Investment Funds | 5.6% | |||
Financials | 5.6% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.2% |
InvestEd 20 Portfolio – Asset Allocation
Affiliated Mutual Funds | 96.0% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 33.6% | |||
Delaware Ivy Government Securities Fund, Class R6 | 25.8% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 13.5% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 4.5% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 3.6% | |||
Delaware Ivy Core Equity Fund, Class R6 | 3.3% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1.8% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 1.6% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 1.4% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 1.3% | |||
Delaware Ivy Value Fund, Class R6 | 1.3% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.0% | |||
Delaware Ivy Crossover Credit Fund, Class R6 | 0.8% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 0.5% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 0.5% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 0.4% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 0.4% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.3% | |||
Delaware Ivy High Income Fund, Class R6 | 0.2% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.2% | |||
Investment Funds | 3.8% | |||
Financials | 3.8% | |||
Cash and Other Assets (Net of Liabilities), and Cash Equivalents+ | 0.2% |
2021 | SEMIANNUAL REPORT | 7 |
Table of Contents
PORTFOLIO HIGHLIGHTS | INVESTED PORTFOLIOS |
ALL DATA IS AS OF JUNE 30, 2021 (UNAUDITED)
InvestEd 10 Portfolio – Asset Allocation
Affiliated Mutual Funds | 97.9% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 44.7% | |||
Delaware Ivy Government Securities Fund, Class R6 | 26.9% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 12.5% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 4.6% | |||
Delaware Ivy Large Cap Growth Fund, Class R6 | 2.0% | |||
Delaware Ivy Core Equity Fund, Class R6 | 1.8% | |||
Delaware Ivy Global Bond Fund, Class R6 | 1.0% | |||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 0.9% | |||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 0.8% | |||
Delaware Ivy Value Fund, Class R6 | 0.6% | |||
Delaware Ivy International Core Equity Fund, Class R6 | 0.6% | |||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 0.5% | |||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 0.3% | |||
Delaware Ivy Small Cap Growth Fund, Class R6 | 0.3% | |||
Delaware Ivy International Small Cap Fund, Class R6 | 0.1% | |||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 0.1% | |||
Delaware Ivy Pzena International Value Fund, Class R6 | 0.1% | |||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 0.1% | |||
Investment Funds | 1.9% | |||
Financials | 1.9% | |||
Cash and Other Assets (Net of Liabilities), and Cash Equivalents+ | 0.2% |
InvestEd 0 Portfolio – Asset Allocation
Affiliated Mutual Funds | 99.6% | |||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 74.6% | |||
Delaware Ivy Government Securities Fund, Class R6 | 23.2% | |||
Delaware Ivy Securian Core Bond Fund, Class R6 | 1.0% | |||
Delaware Ivy Corporate Bond Fund, Class R6 | 0.8% | |||
Liabilities (Net of Cash and Other Assets), and Cash Equivalents+ | 0.4% |
The percentages of investments in the underlying funds may not currently be within the target allocation ranges disclosed in the Portfolios’ prospectus due to market movements; these percentages are expected to change over time, and deviation from the target allocation ranges due to market movements is permitted by the prospectus.
+ Cash equivalents are defined as highly liquid securities with maturities of less than three months. Cash equivalents may include U.S. Government Treasury bills, bank certificates of deposit, bankers’ acceptances, corporate commercial paper and other money market instruments.
8 | SEMIANNUAL REPORT | 2021 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
InvestEd 90 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 15.6% |
| |||||||
iShares Core MSCI EAFE ETF | 10 | $ | 773 | |||||
iShares Core S&P 500 ETF | 3 | 1,463 | ||||||
|
| |||||||
2,236 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 15.6% |
| $ | 2,236 | |||||
(Cost: $1,879) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 79 | 1,779 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 16 | 106 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 7 | 71 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 42 | 1,294 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 3 | 35 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 99 | 557 | ||||||
Delaware Ivy High Income Fund, Class R6 | 5 | 35 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 73 | 1,568 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 26 | 426 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 52 | 1,870 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 19 | 218 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 25 | 278 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 20 | 924 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 15 | 281 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 10 | 117 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 45 | 680 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 21 | 420 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 29 | 316 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 9 | 298 | ||||||
Delaware Ivy Value Fund, Class R6 | 27 | 755 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 12,028 | |||||
(Cost: $10,368) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.5% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 67 | $ | 67 | |||||
|
| |||||||
TOTAL SHORT-TERM |
| $ | 67 | |||||
(Cost: $67) | ||||||||
TOTAL INVESTMENT |
| $ | 14,331 | |||||
(Cost: $12,314) | ||||||||
LIABILITIES, NET OF CASH AND |
| (26 | ) | |||||
NET ASSETS – 100.0% |
| $ | 14,305 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 2,236 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 12,028 | — | — | |||||||||
Short-Term Securities | 67 | — | — | |||||||||
|
| |||||||||||
Total | $ | 14,331 | $ | — | $ | — | ||||||
|
|
InvestEd 80 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 14.1% |
| |||||||
iShares Core MSCI EAFE ETF | 11 | $ | 804 | |||||
iShares Core S&P 500 ETF | 4 | 1,573 | ||||||
|
| |||||||
2,377 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 14.1% |
| $ | 2,377 | |||||
(Cost: $1,968) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 86 | 1,933 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 32 | 209 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 12 | 126 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 42 | 1,294 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 8 | 83 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 241 | 1,357 | ||||||
Delaware Ivy High Income Fund, Class R6 | 6 | 41 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 73 | 1,557 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 26 | 419 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 55 | 1,991 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 18 | 214 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 59 | 657 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 22 | 985 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 16 | 311 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 12 | 138 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 50 | 761 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 21 | 414 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 75 | 830 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 9 | 310 | ||||||
Delaware Ivy Value Fund, Class R6 | 29 | 808 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 14,438 | |||||
(Cost: $12,779) |
2021 | SEMIANNUAL REPORT | 9 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.6% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 94 | $ | 94 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.6% |
| $ | 94 | |||||
(Cost: $94) | ||||||||
TOTAL INVESTMENT |
| $ | 16,909 | |||||
(Cost: $14,841) | ||||||||
LIABILITIES, NET OF CASH AND OTHER ASSETS – 0.0% |
| — | ||||||
NET ASSETS – 100.0% |
| $ | 16,909 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 2,377 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 14,438 | — | — | |||||||||
Short-Term Securities | 94 | — | — | |||||||||
|
| |||||||||||
Total | $ | 16,909 | $ | — | $ | — | ||||||
|
|
InvestEd 70 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 12.4% |
| |||||||
iShares Core MSCI EAFE ETF | 66 | $ | 4,913 | |||||
iShares Core S&P 500 ETF | 24 | 10,125 | ||||||
|
| |||||||
15,038 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 12.4% |
| $ | 15,038 | |||||
(Cost: $12,455) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 542 | 12,180 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 369 | 2,423 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 112 | 1,217 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 260 | 7,999 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 87 | 900 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 2,647 | 14,903 | ||||||
Delaware Ivy High Income Fund, Class R6 | 42 | 298 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 455 | 9,759 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 160 | 2,582 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 366 | 13,190 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 119 | 1,399 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 646 | 7,141 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 140 | 6,388 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 102 | 1,953 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 73 | 855 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 323 | 4,902 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 129 | 2,546 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 820 | 9,021 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 57 | 1,952 | ||||||
Delaware Ivy Value Fund, Class R6 | 175 | 4,925 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 106,533 | |||||
(Cost: $89,978) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.1% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 167 | $ | 167 | |||||
|
| |||||||
TOTAL SHORT-TERM |
| $ | 167 | |||||
(Cost: $167) | ||||||||
TOTAL INVESTMENT |
| $ | 121,738 | |||||
(Cost: $102,600) | ||||||||
LIABILITIES, NET OF CASH AND |
| (15 | ) | |||||
NET ASSETS – 100.0% |
| $ | 121,723 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 15,038 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 106,533 | — | — | |||||||||
Short-Term Securities | 167 | — | — | |||||||||
|
| |||||||||||
Total | $ | 121,738 | $ | — | $ | — | ||||||
|
|
10 | SEMIANNUAL REPORT | 2021 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
InvestEd 60 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 10.7% |
| |||||||
iShares Core MSCI EAFE ETF | 30 | $ | 2,256 | |||||
iShares Core S&P 500 ETF | 12 | 4,994 | ||||||
|
| |||||||
7,250 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 10.7% |
| $ | 7,250 | |||||
(Cost: $6,003) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 264 | 5,933 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 359 | 2,361 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 93 | 1,016 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 122 | 3,768 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 65 | 668 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 1,827 | 10,288 | ||||||
Delaware Ivy High Income Fund, Class R6 | 46 | 331 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 214 | 4,585 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 74 | 1,184 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 180 | 6,468 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 52 | 606 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 539 | 5,964 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 68 | 3,132 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 48 | 920 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 34 | 397 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 157 | 2,389 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 59 | 1,168 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 548 | 6,027 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 27 | 919 | ||||||
Delaware Ivy Value Fund, Class R6 | 79 | 2,229 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 60,353 | |||||
(Cost: $52,364) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.2% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 110 | $ | 110 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.2% |
| $ | 110 | |||||
(Cost: $110) | ||||||||
TOTAL INVESTMENT |
| $ | 67,713 | |||||
(Cost: $58,477) | ||||||||
LIABILITIES, NET OF CASH AND |
| (7 | ) | |||||
NET ASSETS – 100.0% |
| $ | 67,706 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 7,250 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 60,353 | — | — | |||||||||
Short-Term Securities | 110 | — | — | |||||||||
|
| |||||||||||
Total | $ | 67,713 | $ | — | $ | — | ||||||
|
|
InvestEd 50 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 8.7% |
| |||||||
iShares Core MSCI EAFE ETF | 13 | $ | 989 | |||||
iShares Core S&P 500 ETF | 5 | 2,150 | ||||||
|
| |||||||
3,139 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 8.7% |
| $ | 3,139 | |||||
(Cost: $2,600) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 120 | 2,694 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 258 | 1,697 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 74 | 808 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 52 | 1,589 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 43 | 442 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 1,249 | 7,032 | ||||||
Delaware Ivy High Income Fund, Class R6 | 37 | 263 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 90 | 1,936 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 31 | 493 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 80 | 2,872 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 23 | 276 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 349 | 3,860 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 30 | 1,390 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 21 | 399 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 14 | 168 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 71 | 1,086 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 25 | 486 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 323 | 3,548 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 13 | 442 | ||||||
Delaware Ivy Value Fund, Class R6 | 39 | 1,091 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 32,572 | |||||
(Cost: $30,499) |
2021 | SEMIANNUAL REPORT | 11 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.3% |
| |||||||
State Street Institutional U.S. Government Money Market Fund –Premier Class, 0.030% | 122 | $ | 122 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.3% |
| $ | 122 | |||||
(Cost: $122) | ||||||||
TOTAL INVESTMENT SECURITIES – 99.8% |
| $ | 35,833 | |||||
(Cost: $33,221) | ||||||||
CASH AND OTHER ASSETS, NET OF LIABILITIES – 0.2% |
| 61 | ||||||
NET ASSETS – 100.0% |
| $ | 35,894 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 3,139 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 32,572 | — | — | |||||||||
Short-Term Securities | 122 | — | — | |||||||||
|
| |||||||||||
Total | $ | 35,833 | $ | — | $ | — | ||||||
|
|
InvestEd 40 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 7.0% |
| |||||||
iShares Core MSCI EAFE ETF | 17 | $ | 1,285 | |||||
iShares Core S&P 500 ETF | 7 | 2,795 | ||||||
|
| |||||||
4,080 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 7.0% |
| $ | 4,080 | |||||
(Cost: $3,379) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 157 | 3,532 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 446 | 2,927 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 135 | 1,470 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 68 | 2,080 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 84 | 870 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 2,559 | 14,406 | ||||||
Delaware Ivy High Income Fund, Class R6 | 60 | 432 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 120 | 2,578 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 41 | 660 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 105 | 3,793 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 32 | 375 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 728 | 8,054 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 40 | 1,838 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 30 | 581 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 18 | 207 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 88 | 1,333 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 33 | 651 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 595 | 6,540 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 17 | 580 | ||||||
Delaware Ivy Value Fund, Class R6 | 48 | 1,339 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 54,246 | |||||
(Cost: $49,548) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.2% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 110 | $ | 110 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.2% |
| $ | 110 | |||||
(Cost: $110) | ||||||||
TOTAL INVESTMENT |
| $ | 58,436 | |||||
(Cost: $53,037) | ||||||||
LIABILITIES, NET OF CASH AND |
| (7 | ) | |||||
NET ASSETS – 100.0% |
| $ | 58,429 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 4,080 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 54,246 | — | — | |||||||||
Short-Term Securities | 110 | — | — | |||||||||
|
| |||||||||||
Total | $ | 58,436 | $ | — | $ | — | ||||||
|
|
12 | SEMIANNUAL REPORT | 2021 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
InvestEd 30 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 5.6% |
| |||||||
iShares Core MSCI EAFE ETF | 11 | $ | 824 | |||||
iShares Core S&P 500 ETF | 4 | 1,820 | ||||||
|
| |||||||
2,644 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 5.6% |
| $ | 2,644 | |||||
(Cost: $2,190) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 94 | 2,121 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 339 | 2,227 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 86 | 942 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 42 | 1,310 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 56 | 581 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 2,131 | 11,996 | ||||||
Delaware Ivy High Income Fund, Class R6 | 32 | 230 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 72 | 1,535 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 26 | 412 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 61 | 2,187 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 20 | 241 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 916 | 10,134 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 23 | 1,059 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 15 | 291 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 9 | 110 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 55 | 831 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 21 | 406 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 571 | 6,285 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 9 | 290 | ||||||
Delaware Ivy Value Fund, Class R6 | 30 | 835 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 44,023 | |||||
(Cost: $42,691) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.2% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 94 | $ | 94 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.2% |
| $ | 94 | |||||
(Cost: $94) | ||||||||
TOTAL INVESTMENT |
| $ | 46,761 | |||||
(Cost: $44,975) | ||||||||
LIABILITIES, NET OF CASH AND |
| (3 | ) | |||||
NET ASSETS – 100.0% |
| $ | 46,758 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 2,644 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 44,023 | — | — | |||||||||
Short-Term Securities | 94 | — | — | |||||||||
|
| |||||||||||
Total | $ | 46,761 | $ | — | $ | — | ||||||
|
|
InvestEd 20 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 3.8% |
| |||||||
iShares Core MSCI EAFE ETF | 8 | $ | 613 | |||||
iShares Core S&P 500 ETF | 4 | 1,735 | ||||||
|
| |||||||
2,348 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 3.8% |
| $ | 2,348 | |||||
(Cost: $1,944) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 91 | 2,047 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 429 | 2,819 | ||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 43 | 472 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 28 | 874 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 60 | 621 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 2,847 | 16,030 | ||||||
Delaware Ivy High Income Fund, Class R6 | 21 | 154 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 48 | 1,025 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 15 | 235 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 63 | 2,273 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 14 | 161 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 1,892 | 20,929 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 24 | 1,101 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 16 | 311 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 13 | 147 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 52 | 793 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 12 | 232 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 763 | 8,397 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 9 | 310 | ||||||
Delaware Ivy Value Fund, Class R6 | 28 | 796 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 59,727 | |||||
(Cost: $57,011) |
2021 | SEMIANNUAL REPORT | 13 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.2% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 104 | $ | 104 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.2% |
| $ | 104 | |||||
(Cost: $104) | ||||||||
TOTAL INVESTMENT |
| $ | 62,179 | |||||
(Cost: $59,059) | ||||||||
CASH AND OTHER ASSETS, NET OF LIABILITIES – 0.0% |
| 3 | ||||||
NET ASSETS – 100.0% |
| $ | 62,182 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 2,348 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 59,727 | — | — | |||||||||
Short-Term Securities | 104 | — | — | |||||||||
|
| |||||||||||
Total | $ | 62,179 | $ | — | $ | — | ||||||
|
|
InvestEd 10 Portfolio
INVESTMENTS FUNDS | Shares | Value | ||||||
Registered Investment Companies – 1.9% |
| |||||||
iShares Core MSCI EAFE ETF | 3 | $ | 249 | |||||
iShares Core S&P 500 ETF | 2 | 769 | ||||||
|
| |||||||
1,018 | ||||||||
|
| |||||||
TOTAL INVESTMENT FUNDS – 1.9% |
| $ | 1,018 | |||||
(Cost: $843) | ||||||||
AFFILIATED MUTUAL FUNDS | ||||||||
Delaware Ivy Core Equity Fund, Class R6 | 41 | 929 | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 362 | 2,377 | ||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 9 | 268 | ||||||
Delaware Ivy Global Bond Fund, Class R6 | 51 | 523 | ||||||
Delaware Ivy Government Securities Fund, Class R6 | 2,493 | 14,037 | ||||||
Delaware Ivy International Core Equity Fund, Class R6 | 15 | 332 | ||||||
Delaware Ivy International Small Cap Fund, Class R6 | 4 | 66 | ||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 29 | 1,028 | ||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 6 | 68 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 2,112 | 23,354 | ||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 10 | 465 | ||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 7 | 131 | ||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 5 | 62 | ||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 26 | 400 | ||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 3 | 65 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 596 | 6,556 | ||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 4 | 131 | ||||||
Delaware Ivy Value Fund, Class R6 | 12 | 335 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 51,127 | |||||
(Cost: $51,144) |
SHORT-TERM SECURITIES | Shares | Value | ||||||
Money Market Funds (A) – 0.2% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 97 | $ | 97 | |||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.2% |
| $ | 97 | |||||
(Cost: $97) | ||||||||
TOTAL INVESTMENT |
| $ | 52,242 | |||||
(Cost: $52,084) | ||||||||
CASH AND OTHER ASSETS, NET OF LIABILITIES – 0.0% |
| 14 | ||||||
NET ASSETS – 100.0% |
| $ | 52,256 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Investment Funds | $ | 1,018 | $ | — | $ | — | ||||||
Affiliated Mutual Funds | 51,127 | — | — | |||||||||
Short-Term Securities | 97 | — | — | |||||||||
|
| |||||||||||
Total | $ | 52,242 | $ | — | $ | — | ||||||
|
|
14 | SEMIANNUAL REPORT | 2021 |
Table of Contents
SCHEDULE OF INVESTMENTS | INVESTED PORTFOLIOS (in thousands) |
JUNE 30, 2021 (UNAUDITED)
InvestEd 0 Portfolio
AFFILIATED MUTUAL FUNDS | Shares | Value | ||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 55 | $ | 364 | |||||
Delaware Ivy Government Securities Fund, Class R6 | 1,972 | 11,100 | ||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 3,232 | 35,749 | ||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 44 | 482 | ||||||
|
| |||||||
TOTAL AFFILIATED MUTUAL |
| $ | 47,695 | |||||
(Cost: $47,856) | ||||||||
SHORT-TERM SECURITIES | ||||||||
Money Market Funds (A) – 0.4% |
| |||||||
State Street Institutional U.S. Government Money Market Fund – Premier Class, 0.030% | 208 | 208 | ||||||
|
| |||||||
TOTAL SHORT-TERM SECURITIES – 0.4% |
| $ | 208 | |||||
(Cost: $208) | ||||||||
TOTAL INVESTMENT |
| $ | 47,903 | |||||
(Cost: $48,064) | ||||||||
LIABILITIES, NET OF CASH AND OTHER ASSETS – 0.0% |
| (1 | ) | |||||
NET ASSETS – 100.0% |
| $ | 47,902 |
Notes to Schedule of Investments
(A) | Rate shown is the annualized 7-day yield at June 30, 2021. |
The following table is a summary of the valuation of the Portfolio’s investments by the fair value hierarchy levels as of June 30, 2021. See Note 3 to the Financial Statements for further information regarding fair value measurement.
Level 1 | Level 2 | Level 3 | ||||||||||
Assets | ||||||||||||
Investments in Securities | ||||||||||||
Affiliated Mutual Funds | $ | 47,695 | $ | — | $ | — | ||||||
Short-Term Securities | 208 | — | — | |||||||||
|
| |||||||||||
Total | $ | 47,903 | $ | — | $ | — | ||||||
|
|
See accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 15 |
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES | INVESTED PORTFOLIOS |
AS OF JUNE 30, 2021 (UNAUDITED)
(In thousands, except per share amounts) | InvestEd 90 Portfolio | InvestEd 80 Portfolio | InvestEd 70 Portfolio | InvestEd 60 Portfolio | InvestEd 50 Portfolio | InvestEd 40 Portfolio | ||||||||||||||||||
ASSETS |
| |||||||||||||||||||||||
Investments in unaffiliated securities at value+ | $ | 2,303 | $ | 2,471 | $ | 15,205 | $ | 7,360 | $ | 3,261 | $ | 4,190 | ||||||||||||
Investments in affiliated mutual funds at value+ | 12,028 | 14,438 | 106,533 | 60,353 | 32,572 | 54,246 | ||||||||||||||||||
Investments at Value | 14,331 | 16,909 | 121,738 | 67,713 | 35,833 | 58,436 | ||||||||||||||||||
Investment securities sold receivable | — | — | — | 28 | 73 | 20 | ||||||||||||||||||
Dividends and interest receivable | — | * | — | * | 6 | 4 | 3 | 6 | ||||||||||||||||
Capital shares sold receivable | 5 | 3 | 8 | 5 | 4 | 2 | ||||||||||||||||||
Receivable from affiliates | — | * | — | 4 | 3 | — | 1 | |||||||||||||||||
Total Assets | 14,336 | 16,912 | 121,756 | 67,753 | 35,913 | 58,465 | ||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||
Investment securities purchased payable | 28 | — | — | — | — | — | ||||||||||||||||||
Capital shares redeemed payable | — | — | 9 | 33 | 12 | 25 | ||||||||||||||||||
Other liabilities | 3 | 3 | 24 | 14 | 7 | 11 | ||||||||||||||||||
Total Liabilities | 31 | 3 | 33 | 47 | 19 | 36 | ||||||||||||||||||
Total Net Assets | $ | 14,305 | $ | 16,909 | $ | 121,723 | $ | 67,706 | $ | 35,894 | $ | 58,429 | ||||||||||||
NET ASSETS | ||||||||||||||||||||||||
Capital paid in (shares authorized – unlimited) | $ | 9,297 | $ | 13,896 | $ | 91,743 | $ | 51,207 | $ | 31,890 | $ | 46,707 | ||||||||||||
Accumulated earnings gain | 5,008 | 3,013 | 29,980 | 16,499 | 4,004 | 11,722 | ||||||||||||||||||
Total Net Assets | $ | 14,305 | $ | 16,909 | $ | 121,723 | $ | 67,706 | $ | 35,894 | $ | 58,429 | ||||||||||||
CAPITAL SHARES OUTSTANDING | 1,122 | 1,409 | 8,968 | 5,635 | 3,199 | 4,670 | ||||||||||||||||||
NET ASSET VALUE PER SHARE | $ | 12.75 | $ | 12.00 | $ | 13.57 | $ | 12.02 | $ | 11.22 | $ | 12.51 | ||||||||||||
+COST | ||||||||||||||||||||||||
Investments in affiliated mutual funds at cost | $ | 10,368 | $ | 12,779 | $ | 89,978 | $ | 52,364 | $ | 30,499 | $ | 49,548 | ||||||||||||
Investments in unaffiliated securities at cost | 1,946 | 2,062 | 12,622 | 6,113 | 2,722 | 3,489 |
* Not shown due to rounding.
See Accompanying Notes to Financial Statements.
16 | SEMIANNUAL REPORT | 2021 |
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES | INVESTED PORTFOLIOS |
AS OF JUNE 30, 2021 (UNAUDITED)
(In thousands, except per share amounts) | InvestEd 30 Portfolio | InvestEd 20 Portfolio | InvestEd 10 Portfolio | InvestEd 0 Portfolio | ||||||||||||
ASSETS |
| |||||||||||||||
Investments in unaffiliated securities at value+ | $ | 2,738 | $ | 2,452 | $ | 1,115 | $ | 208 | ||||||||
Investments in affiliated mutual funds at value+ | 44,023 | 59,727 | 51,127 | 47,695 | ||||||||||||
Investments at Value | 46,761 | 62,179 | 52,242 | 47,903 | ||||||||||||
Investment securities sold receivable | — | 24 | — | 52 | ||||||||||||
Dividends and interest receivable | 5 | 7 | 7 | 7 | ||||||||||||
Capital shares sold receivable | 2 | 3 | 23 | 1 | ||||||||||||
Total Assets | 46,768 | 62,213 | 52,272 | 47,963 | ||||||||||||
LIABILITIES | ||||||||||||||||
Capital shares redeemed payable | 1 | 19 | 6 | 51 | ||||||||||||
Other liabilities | 9 | 12 | 10 | 10 | ||||||||||||
Total Liabilities | 10 | 31 | 16 | 61 | ||||||||||||
Total Net Assets | $ | 46,758 | $ | 62,182 | $ | 52,256 | $ | 47,902 | ||||||||
NET ASSETS | ||||||||||||||||
Capital paid in (shares authorized – unlimited) | $ | 43,455 | $ | 50,955 | $ | 51,129 | $ | 45,697 | ||||||||
Accumulated earnings gain | 3,303 | 11,227 | 1,127 | 2,205 | ||||||||||||
Total Net Assets | $ | 46,758 | $ | 62,182 | $ | 52,256 | $ | 47,902 | ||||||||
CAPITAL SHARES OUTSTANDING | 4,363 | 5,659 | 5,111 | 4,616 | ||||||||||||
NET ASSET VALUE PER SHARE | $ | 10.72 | $ | 10.99 | $ | 10.22 | $ | 10.38 | ||||||||
+COST | ||||||||||||||||
Investments in affiliated mutual funds at cost | $ | 42,691 | $ | 57,011 | $ | 51,144 | $ | 47,856 | ||||||||
Investments in unaffiliated securities at cost | 2,284 | 2,048 | 940 | 208 |
See Accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 17 |
Table of Contents
STATEMENTS OF OPERATIONS | INVESTED PORTFOLIOS |
FOR THE SIX MONTHS ENDED JUNE 30, 2021 (UNAUDITED)
(In thousands) | InvestEd 90 Portfolio | InvestEd 80 Portfolio | InvestEd 70 Portfolio | InvestEd 60 Portfolio | InvestEd 50 Portfolio | InvestEd 40 Portfolio | ||||||||||||||||||
INVESTMENT INCOME |
| |||||||||||||||||||||||
Dividends from unaffiliated securities | $ | 19 | $ | 21 | $ | 133 | $ | 63 | $ | 27 | $ | 35 | ||||||||||||
Dividends from affiliated mutual funds | 28 | 47 | 417 | 283 | 181 | 322 | ||||||||||||||||||
Interest and amortization from unaffiliated securities | — | * | — | * | 1 | — | * | — | * | — | * | |||||||||||||
Total Investment Income | 47 | 68 | 551 | 346 | 208 | 357 | ||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||
Distribution and service fees | 16 | 21 | 146 | 82 | 44 | 70 | ||||||||||||||||||
Net Investment Income | 31 | 47 | 405 | 264 | 164 | 287 | ||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||
Investments in unaffiliated securities | 2 | 25 | 135 | 57 | 44 | 38 | ||||||||||||||||||
Investments in affiliated mutual funds | 365 | 403 | 2,150 | 1,527 | 398 | 1,194 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||
Investments in unaffiliated securities | 237 | 249 | 1,585 | 779 | 326 | 431 | ||||||||||||||||||
Investments in affiliated mutual funds | 888 | 1,000 | 6,383 | 2,496 | 1,347 | 902 | ||||||||||||||||||
Net Realized and Unrealized Gain | 1,492 | 1,677 | 10,253 | 4,859 | 2,115 | 2,565 | ||||||||||||||||||
Net Increase in Net Assets Resulting from Operations | $ | 1,523 | $ | 1,724 | $ | 10,658 | $ | 5,123 | $ | 2,279 | $ | 2,852 |
* Not shown due to rounding.
See Accompanying Notes to Financial Statements.
18 | SEMIANNUAL REPORT | 2021 |
Table of Contents
STATEMENTS OF OPERATIONS | INVESTED PORTFOLIOS |
FOR THE SIX MONTHS ENDED JUNE 30, 2021 (UNAUDITED)
(In thousands) | InvestEd 30 Portfolio | InvestEd 20 Portfolio | InvestEd 10 Portfolio | InvestEd 0 Portfolio | ||||||||||||
INVESTMENT INCOME |
| |||||||||||||||
Dividends from unaffiliated securities | $ | 23 | $ | 19 | $ | 8 | $ | — | ||||||||
Dividends from affiliated mutual funds | 298 | 420 | 357 | 329 | ||||||||||||
Interest and amortization from unaffiliated securities | — | * | — | * | 1 | — | * | |||||||||
Total Investment Income | 321 | 439 | 366 | 329 | ||||||||||||
EXPENSES | ||||||||||||||||
Distribution and service fees | 59 | 77 | 61 | 57 | ||||||||||||
Net Investment Income | 262 | 362 | 305 | 272 | ||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investments in unaffiliated securities | 37 | 44 | 10 | — | ||||||||||||
Investments in affiliated mutual funds | 315 | 876 | 42 | 176 | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments in unaffiliated securities | 275 | 241 | 110 | — | * | |||||||||||
Investments in affiliated mutual funds | 855 | (51 | ) | 67 | (563 | ) | ||||||||||
Net Realized and Unrealized Gain (Loss) | 1,482 | 1,110 | 229 | (387 | ) | |||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 1,744 | $ | 1,472 | $ | 534 | $ | (115 | ) |
* Not shown due to rounding.
See Accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 19 |
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS | INVESTED PORTFOLIOS |
InvestEd 90 Portfolio | InvestEd 80 Portfolio | InvestEd 70 Portfolio | ||||||||||||||||||||||
(In thousands) | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | Six months ended 6-30-21 (Unaudited) | Period from to 12-31-20 | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | ||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 31 | $ | 133 | $ | 47 | $ | 139 | $ | 405 | $ | 1,508 | ||||||||||||
Net realized gain on investments | 367 | 2,464 | 428 | 322 | 2,285 | 6,720 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 1,125 | (602 | ) | 1,249 | 819 | 7,968 | 6,694 | |||||||||||||||||
Net Increase in Net Assets Resulting from Operations | 1,523 | 1,995 | 1,724 | 1,280 | 10,658 | 14,922 | ||||||||||||||||||
Distributions to Shareholders From: | ||||||||||||||||||||||||
Accumulated earnings | — | (1,547 | ) | — | — | — | (6,162 | ) | ||||||||||||||||
Total Distributions to Shareholders | — | (1,547 | ) | — | — | — | (6,162 | ) | ||||||||||||||||
Capital Share Transactions | 1,099 | (21,120 | ) | (1,410 | ) | 15,315 | (3,448 | ) | (10,537 | ) | ||||||||||||||
Net Increase (Decrease) in Net Assets | 2,622 | (20,672 | ) | 314 | 16,595 | 7,210 | (1,777 | ) | ||||||||||||||||
Net Assets, Beginning of Period | 11,683 | 32,355 | 16,595 | — | 114,513 | 116,290 | ||||||||||||||||||
Net Assets, End of Period | $ | 14,305 | $ | 11,683 | $ | 16,909 | $ | 16,595 | $ | 121,723 | $ | 114,513 |
InvestEd 60 Portfolio | InvestEd 50 Portfolio | InvestEd 40 Portfolio | ||||||||||||||||||||||
(In thousands) | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | Six months ended 6-30-21 (Unaudited) | Period from to | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | ||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 264 | $ | 1,070 | $ | 164 | $ | 315 | $ | 287 | $ | 1,162 | ||||||||||||
Net realized gain on investments | 1,584 | 4,382 | 442 | 451 | 1,232 | 3,676 | ||||||||||||||||||
Net change in unrealized appreciation | 3,275 | 3,009 | 1,673 | 939 | 1,333 | 1,722 | ||||||||||||||||||
Net Increase in Net Assets Resulting from Operations | 5,123 | 8,461 | 2,279 | 1,705 | 2,852 | 6,560 | ||||||||||||||||||
Distributions to Shareholders From: | ||||||||||||||||||||||||
Accumulated earnings | — | (4,000 | ) | — | — | — | (2,814 | ) | ||||||||||||||||
Total Distributions to Shareholders | — | (4,000 | ) | — | — | — | (2,814 | ) | ||||||||||||||||
Capital Share Transactions | (1,854 | ) | (23,445 | ) | (1,248 | ) | 33,158 | (389 | ) | (28,288 | ) | |||||||||||||
Net Increase (Decrease) in Net Assets | 3,269 | (18,984 | ) | 1,031 | 34,863 | 2,463 | (24,542 | ) | ||||||||||||||||
Net Assets, Beginning of Period | 64,437 | 83,421 | 34,863 | — | 55,966 | 80,508 | ||||||||||||||||||
Net Assets, End of Period | $ | 67,706 | $ | 64,437 | $ | 35,894 | $ | 34,863 | $ | 58,429 | $ | 55,966 |
See Accompanying Notes to Financial Statements.
20 | SEMIANNUAL REPORT | 2021 |
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS | INVESTED PORTFOLIOS |
InvestEd 30 Portfolio | InvestEd 20 Portfolio | InvestEd 10 Portfolio | ||||||||||||||||||||||
(In thousands) | Six months ended 6-30-21 (Unaudited) | Period from to 12-31-20 | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | Six months ended 6-30-21 (Unaudited) | Period from to 12-31-20 | ||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 262 | $ | 437 | $ | 362 | $ | 1,565 | $ | 305 | $ | 373 | ||||||||||||
Net realized gain on investments | 352 | 437 | 920 | 5,278 | 52 | 211 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) | 1,130 | 656 | 190 | 260 | 177 | (19 | ) | |||||||||||||||||
Net Increase in Net Assets Resulting from Operations | 1,744 | 1,530 | 1,472 | 7,103 | 534 | 565 | ||||||||||||||||||
Distributions to Shareholders From: | ||||||||||||||||||||||||
Accumulated earnings | — | — | — | (3,828 | ) | — | — | |||||||||||||||||
Total Distributions to Shareholders | — | — | — | (3,828 | ) | — | — | |||||||||||||||||
Capital Share Transactions | (2,413 | ) | 45,897 | (2,266 | ) | (53,008 | ) | 4,440 | 46,717 | |||||||||||||||
Net Increase (Decrease) in Net Assets | (669 | ) | 47,427 | (794 | ) | (49,733 | ) | 4,974 | 47,282 | |||||||||||||||
Net Assets, Beginning of Period | 47,427 | — | 62,976 | 112,709 | 47,282 | — | ||||||||||||||||||
Net Assets, End of Period | $ | 46,758 | $ | 47,427 | $ | 62,182 | $ | 62,976 | $ | 52,256 | $ | 47,282 | ||||||||||||
InvestEd 0 Portfolio | ||||||||||||||||||||||||
(In thousands) | Six months ended 6-30-21 (Unaudited) | Year ended 12-31-20 | ||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 272 | $ | 850 | ||||||||||||||||||||
Net realized gain on investments | 176 | 1,082 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) | (563 | ) | 175 | |||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | (115 | ) | 2,107 | |||||||||||||||||||||
Distributions to Shareholders From: | ||||||||||||||||||||||||
Accumulated earnings | — | (1,103 | ) | |||||||||||||||||||||
Total Distributions to Shareholders | — | (1,103 | ) | |||||||||||||||||||||
Capital Share Transactions | 3,635 | (8,599 | ) | |||||||||||||||||||||
Net Increase (Decrease) in Net Assets | 3,520 | (7,595 | ) | |||||||||||||||||||||
Net Assets, Beginning of Period | 44,382 | 51,977 | ||||||||||||||||||||||
Net Assets, End of Period | $ | 47,902 | $ | 44,382 |
See Accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 21 |
Table of Contents
FINANCIAL HIGHLIGHTS | INVESTED PORTFOLIOS | |
FOR A SHARE OF CAPITAL STOCK OUTSTANDING THROUGHOUT EACH PERIOD
Net Asset Value, Beginning of Period | Net Investment Income(1) | Net Realized and Unrealized Gain (Loss) on Investments | Total from Investment Operations | Distributions From Net Investment Income | Distributions From Net Realized Gains | Total Distributions | ||||||||||||||||||||||
InvestEd 90 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | $ | 11.36 | $ | 0.03 | $ | 1.36 | $ | 1.39 | $ | — | $ | — | $ | — | ||||||||||||||
Year ended 12-31-2020 | 11.40 | 0.10 | 1.67 | 1.77 | (0.59 | ) | (1.22 | ) | (1.81 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 9.56 | 0.21 | 2.13 | 2.34 | (0.12 | ) | (0.38 | ) | (0.50 | ) | ||||||||||||||||||
Year ended 12-31-2018 | 10.54 | 0.17 | (0.93 | ) | (0.76 | ) | (0.06 | ) | (0.16 | ) | (0.22 | ) | ||||||||||||||||
Year ended 12-31-2017(4) | 10.00 | 0.08 | 0.46 | 0.54 | — | — | — | |||||||||||||||||||||
InvestEd 80 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.83 | 0.03 | 1.14 | 1.17 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020(5) | 10.00 | 0.09 | 0.74 | 0.83 | — | — | — | |||||||||||||||||||||
InvestEd 70 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 12.40 | 0.04 | 1.13 | 1.17 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020 | 11.53 | 0.15 | 1.42 | 1.57 | (0.24 | ) | (0.46 | ) | (0.70 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 10.19 | 0.20 | 1.95 | 2.15 | (0.22 | ) | (0.59 | ) | (0.81 | ) | ||||||||||||||||||
Year ended 12-31-2018 | 12.61 | 0.20 | (0.93 | ) | (0.73 | ) | (0.12 | ) | (1.57 | ) | (1.69 | ) | ||||||||||||||||
Year ended 12-31-2017 | 10.80 | 0.10 | 2.26 | 2.36 | (0.01 | ) | (0.54 | ) | (0.55 | ) | ||||||||||||||||||
Year ended 12-31-2016 | 11.71 | 0.00 | * | 0.25 | 0.25 | (0.03 | ) | (1.13 | ) | (1.16 | ) | |||||||||||||||||
InvestEd 60 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 11.12 | 0.05 | 0.85 | 0.90 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020 | 10.53 | 0.15 | 1.18 | 1.33 | (0.29 | ) | (0.45 | ) | (0.74 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 9.38 | 0.20 | 1.48 | 1.68 | (0.19 | ) | (0.34 | ) | (0.53 | ) | ||||||||||||||||||
Year ended 12-31-2018 | 11.65 | 0.21 | (0.72 | ) | (0.51 | ) | (0.18 | ) | (1.58 | ) | (1.76 | ) | ||||||||||||||||
Year ended 12-31-2017 | 10.76 | 0.10 | 1.68 | 1.78 | (0.13 | ) | (0.76 | ) | (0.89 | ) | ||||||||||||||||||
Year ended 12-31-2016 | 11.44 | 0.06 | 0.20 | 0.26 | (0.10 | ) | (0.84 | ) | (0.94 | ) | ||||||||||||||||||
InvestEd 50 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.53 | 0.05 | 0.64 | 0.69 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020(5) | 10.00 | 0.10 | 0.43 | 0.53 | — | — | — |
* Not shown due to rounding.
(1) Based on average weekly shares outstanding.
(2) Based on net asset value, which does not reflect the sales charge or contingent deferred sales charge, if applicable. Total returns for periods less than one year are not annualized.
(3) Does not include expenses of underlying Ivy Funds in which the Portfolios invest.
(4) For the period from September 18, 2017 (commencement of operations of the Portfolio) through December 31, 2017.
(5) For the period from September 1, 2020 (commencement of operations of the Portfolio) through December 31, 2020.
(6) Annualized.
22 | SEMIANNUAL REPORT | 2021 |
Table of Contents
Net Asset Value, End of Period | Total Return(2) | Net Assets, End of Period (in millions) | Ratio of Expenses to Average Net Assets Including Expense Waiver(3) | Ratio of Net Investment Income to Average Net Assets Including Expense Waiver(3) | Portfolio Turnover Rate | |||||||||||||||||||
InvestEd 90 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | $ | 12.75 | 12.24 | % | $ | 14 | 0.25 | %(6) | 0.48 | %(6) | 14 | % | ||||||||||||
Year ended 12-31-2020 | 11.36 | 15.87 | 12 | 0.25 | 0.87 | 65 | ||||||||||||||||||
Year ended 12-31-2019 | 11.40 | 24.52 | 32 | 0.25 | 1.89 | 10 | ||||||||||||||||||
Year ended 12-31-2018 | 9.56 | -7.21 | 21 | 0.25 | 1.57 | 23 | ||||||||||||||||||
Year ended 12-31-2017(4) | 10.54 | 5.40 | 17 | 0.25 | (6) | 2.71 | (6) | 17 | ||||||||||||||||
InvestEd 80 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 12.00 | 10.80 | 17 | 0.25 | (6) | 0.57 | (6) | 17 | ||||||||||||||||
Year ended 12-31-2020(5) | 10.83 | 8.30 | 17 | 0.25 | (6) | 2.65 | (6) | 9 | ||||||||||||||||
InvestEd 70 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 13.57 | 9.44 | 122 | 0.25 | (6) | 0.69 | (6) | 8 | ||||||||||||||||
Year ended 12-31-2020 | 12.40 | 13.71 | 115 | 0.25 | 1.29 | 56 | ||||||||||||||||||
Year ended 12-31-2019 | 11.53 | 21.21 | 116 | 0.25 | 1.78 | 16 | ||||||||||||||||||
Year ended 12-31-2018 | 10.19 | -5.85 | 115 | 0.25 | 1.59 | 34 | ||||||||||||||||||
Year ended 12-31-2017 | 12.61 | 21.84 | 137 | 0.25 | 0.84 | 116 | ||||||||||||||||||
Year ended 12-31-2016 | 10.80 | 2.01 | 136 | 0.25 | 0.04 | 24 | ||||||||||||||||||
InvestEd 60 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 12.02 | 8.09 | 68 | 0.25 | (6) | 0.80 | (6) | 14 | ||||||||||||||||
Year ended 12-31-2020 | 11.12 | 12.66 | 64 | 0.25 | 1.45 | 40 | ||||||||||||||||||
Year ended 12-31-2019 | 10.53 | 18.00 | 83 | 0.25 | 1.93 | 18 | ||||||||||||||||||
Year ended 12-31-2018 | 9.38 | -4.41 | 76 | 0.25 | 1.79 | 39 | ||||||||||||||||||
Year ended 12-31-2017 | 11.65 | 16.60 | 82 | 0.25 | 0.86 | 73 | ||||||||||||||||||
Year ended 12-31-2016 | 10.76 | 2.17 | 166 | 0.25 | 0.53 | 25 | ||||||||||||||||||
InvestEd 50 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 11.22 | 6.55 | 36 | 0.25 | (6) | 0.93 | (6) | 18 | ||||||||||||||||
Year ended 12-31-2020(5) | 10.53 | 5.30 | 35 | 0.25 | (6) | 2.94 | (6) | 2 |
See Accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 23 |
Table of Contents
FINANCIAL HIGHLIGHTS | INVESTED PORTFOLIOS | |
FOR A SHARE OF CAPITAL STOCK OUTSTANDING THROUGHOUT EACH PERIOD
Net Asset Value, Beginning of Period | Net Investment Income(1) | Net Realized and Unrealized Gain (Loss) on Investments | Total from Investment Operations | Distributions From Net Investment Income | Distributions From Net Realized Gains | Total Distributions | ||||||||||||||||||||||
InvestEd 40 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | $ | 11.90 | $ | 0.06 | $ | 0.55 | $ | 0.61 | $ | — | $ | — | $ | — | ||||||||||||||
Year ended 12-31-2020 | 11.37 | 0.19 | 0.97 | 1.16 | (0.36 | ) | (0.27 | ) | (0.63 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 10.19 | 0.23 | 1.19 | 1.42 | (0.24 | ) | — | (0.24 | ) | |||||||||||||||||||
Year ended 12-31-2018 | 10.68 | 0.21 | (0.48 | ) | (0.27 | ) | (0.22 | ) | — | (0.22 | ) | |||||||||||||||||
Year ended 12-31-2017 | 10.16 | 0.15 | 0.75 | 0.90 | (0.14 | ) | (0.24 | ) | (0.38 | ) | ||||||||||||||||||
Year ended 12-31-2016 | 10.39 | 0.11 | 0.23 | 0.34 | (0.13 | ) | (0.44 | ) | (0.57 | ) | ||||||||||||||||||
InvestEd 30 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.33 | 0.06 | 0.33 | 0.39 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020(4) | 10.00 | 0.09 | 0.24 | 0.33 | — | — | — | |||||||||||||||||||||
InvestEd 20 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.73 | 0.06 | 0.20 | 0.26 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020 | 10.63 | 0.18 | 0.61 | 0.79 | (0.40 | ) | (0.29 | ) | (0.69 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 9.90 | 0.22 | 0.81 | 1.03 | (0.20 | ) | (0.10 | ) | (0.30 | ) | ||||||||||||||||||
Year ended 12-31-2018 | 10.16 | 0.21 | (0.35 | ) | (0.14 | ) | (0.07 | ) | (0.05 | ) | (0.12 | ) | ||||||||||||||||
Year ended 12-31-2017(5) | 10.00 | 0.07 | 0.09 | 0.16 | — | — | — | |||||||||||||||||||||
InvestEd 10 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.12 | 0.06 | 0.04 | 0.10 | — | — | — | |||||||||||||||||||||
Year ended 12-31-2020(4) | 10.00 | 0.08 | 0.04 | 0.12 | — | — | — | |||||||||||||||||||||
InvestEd 0 Portfolio |
| |||||||||||||||||||||||||||
Six-month period ended 6-30-2021 (unaudited) | 10.41 | 0.06 | (0.09 | ) | (0.03 | ) | — | — | — | |||||||||||||||||||
Year ended 12-31-2020 | 10.27 | 0.17 | 0.24 | 0.41 | (0.25 | ) | (0.02 | ) | (0.27 | ) | ||||||||||||||||||
Year ended 12-31-2019 | 10.01 | 0.21 | 0.23 | 0.44 | (0.18 | ) | — | (0.18 | ) | |||||||||||||||||||
Year ended 12-31-2018 | 10.00 | 0.20 | (0.13 | ) | 0.07 | (0.06 | ) | — | (0.06 | ) | ||||||||||||||||||
Year ended 12-31-2017(5) | 10.00 | 0.06 | (0.06 | ) | 0.00 | * | — | — | — |
* Not shown due to rounding.
(1) Based on average weekly shares outstanding
(2) Based on net asset value, which does not reflect the sales charge or contingent deferred sales charge, if applicable. Total returns for periods less than one year are not annualized.
(3) Does not include expenses of underlying Ivy Funds in which the Portfolios invest.
(4) For the period from September 1, 2020 (commencement of operations of the Portfolio) through December 31, 2020.
(5) For the period from September 18, 2017 (commencement of operations of the Portfolio) through December 31, 2017.
(6) Annualized.
24 | SEMIANNUAL REPORT | 2021 |
Table of Contents
Net Asset Value, End of Period | Total Return(2) | Net Assets, End of Period (in millions) | Ratio of Expenses to Average Net Assets Including Expense Waiver(3) | Ratio of Net Investment Income to Average Net Assets Including Expense Waiver(3) | Portfolio Turnover Rate | |||||||||||||||||||
InvestEd 40 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | $ | 12.51 | 5.13 | % | $ | 58 | 0.25 | %(6) | 1.03 | %(6) | 19 | % | ||||||||||||
Year ended 12-31-2020 | 11.90 | 10.29 | 56 | 0.25 | 1.67 | 35 | ||||||||||||||||||
Year ended 12-31-2019 | 11.37 | 13.92 | 81 | 0.25 | 2.05 | 16 | ||||||||||||||||||
Year ended 12-31-2018 | 10.19 | -2.52 | 75 | 0.25 | 1.98 | 43 | ||||||||||||||||||
Year ended 12-31-2017 | 10.68 | 8.82 | 88 | 0.25 | 1.45 | 110 | ||||||||||||||||||
Year ended 12-31-2016 | 10.16 | 3.23 | 114 | 0.25 | 1.03 | 64 | ||||||||||||||||||
InvestEd 30 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 10.72 | 3.77 | 47 | 0.25 | (6) | 1.12 | (6) | 15 | ||||||||||||||||
Year ended 12-31-2020(4) | 10.33 | 3.30 | 47 | 0.25 | (6) | 2.78 | (6) | 7 | ||||||||||||||||
InvestEd 20 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 10.99 | 2.42 | 62 | 0.25 | (6) | 1.18 | (6) | 15 | ||||||||||||||||
Year ended 12-31-2020 | 10.73 | 7.49 | 63 | 0.25 | 1.65 | 28 | ||||||||||||||||||
Year ended 12-31-2019 | 10.63 | 10.47 | 113 | 0.25 | 2.06 | 14 | ||||||||||||||||||
Year ended 12-31-2018 | 9.90 | -1.32 | 100 | 0.25 | 2.08 | 42 | ||||||||||||||||||
Year ended 12-31-2017(5) | 10.16 | 1.60 | 97 | 0.25 | (6) | 2.40 | (6) | 19 | ||||||||||||||||
InvestEd 10 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 10.22 | 0.99 | 52 | 0.25 | (6) | 1.25 | (6) | 16 | ||||||||||||||||
Year ended 12-31-2020(4) | 10.12 | 1.20 | 47 | 0.25 | (6) | 2.39 | (6) | 6 | ||||||||||||||||
InvestEd 0 Portfolio |
| |||||||||||||||||||||||
Six-month period ended | 10.38 | -0.29 | 48 | 0.25 | (6) | 1.20 | (6) | 23 | ||||||||||||||||
Year ended 12-31-2020 | 10.41 | 3.91 | 44 | 0.25 | 1.63 | 69 | ||||||||||||||||||
Year ended 12-31-2019 | 10.27 | 4.39 | 52 | 0.25 | 2.08 | 27 | ||||||||||||||||||
Year ended 12-31-2018 | 10.01 | 0.68 | 47 | 0.25 | 1.99 | 75 | ||||||||||||||||||
Year ended 12-31-2017(5) | 10.00 | — | 44 | 0.25 | (6) | 1.96 | (6) | 23 |
See Accompanying Notes to Financial Statements.
2021 | SEMIANNUAL REPORT | 25 |
Table of Contents
NOTES TO FINANCIAL STATEMENTS | INVESTED PORTFOLIOS |
JUNE 30, 2021 (UNAUDITED)
1. | ORGANIZATION |
The Ivy InvestEd 529 Plan (“InvestEd Plan”) was established under the Arizona Family College Savings Program (the “Program”). InvestEd Portfolios, a Delaware statutory trust (the “Trust”), is registered under the Investment Company Act of 1940 as an open-end management investment company. The Program was established by the State of Arizona as a qualified state tuition program in accordance with Section 529 of the Internal Revenue Code. InvestEd Plan is offered to Arizona residents and nationally. InvestEd Plan accounts are held in the name and for the benefit of the Arizona State Board of Investment in its capacity as Trustee of the Family College Savings Program Trust Fund (“Trust Fund”). An investment in the Program constitutes a purchase of an interest in the Trust Fund, a municipal fund security. The Trust Fund invests in the Trust and other investment options. InvestEd 90 Portfolio, InvestEd 80 Portfolio, InvestEd 70 Portfolio, InvestEd 60 Portfolio, InvestEd 50 Portfolio, InvestEd 40 Portfolio, InvestEd 30 Portfolio, InvestEd 20 Portfolio, InvestEd 10 Portfolio and InvestEd 0 Portfolio (each, a “Portfolio”) are series of the Trust. The assets belonging to each Portfolio are held separately by the transfer agent for the underlying funds and the custodian. The capital shares of each Portfolio represent a pro rata beneficial interest in the principal, net income and realized and unrealized capital gains or losses of its respective investments and other assets.
Accounts opened through the InvestEd Plan are not insured by the State of Arizona, the Trust Fund, the Arizona State Board of Investment, or any other governmental entity, Delaware Distributors, L.P. (“DDLP”) effective April 30, 2021, Ivy Distributors, Inc. (“IDI”) effective from September 1, 2020 through April 30, 2021, Waddell & Reed, Inc. (“W&R”) prior to September 1, 2020, or any affiliated or related party and neither the principal invested nor the investment return is guaranteed by any of the above referenced parties. InvestEd Plan accounts are subject to the Federal tax laws and the laws, rules and regulations governing the Program. Any changes in such laws, rules or regulations may affect participation in, and the benefits of, the InvestEd Plan. The InvestEd Plan may be modified to comply with such changes.
2. | SIGNIFICANT ACCOUNTING POLICIES |
The following is a summary of significant accounting policies consistently followed by each Portfolio.
Security Transactions and Related Investment Income. Security transactions are accounted for on the trade date (date the order to buy or sell is executed). Securities gains and losses are calculated on the identified cost basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis. Income or short-term capital gain distributions received from registered investment companies, if any, are recorded as dividend income. Long-term capital gain distributions received from registered investment companies, if any, are recorded as realized gains.
Income Taxes. It is the policy of each Portfolio to distribute all of its taxable income and capital gains to its shareholders and to otherwise qualify as a regulated investment company under Subchapter M of the Internal Revenue Code. In addition, each Portfolio intends to pay distributions as required to avoid imposition of excise tax. Accordingly, no provision has been made for Federal income taxes. The Portfolios file income tax returns in U.S. federal and applicable state jurisdictions. The Portfolios’ tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax returns. Management of the Trust periodically reviews all tax positions to assess whether it is more likely than not that the position would be sustained upon examination by the relevant tax authority based on the technical merits of each position. As of the date of these financial statements, management believes that no liability for unrecognized tax positions is required.
Dividends and Distributions to Shareholders. Dividends and distributions to shareholders are recorded by each Portfolio on the business day following record date. Net investment income dividends and capital gains distributions are determined in accordance with income tax regulations, which may differ from accounting principles generally accepted in the United States of America (“U.S. GAAP”). If the total dividends and distributions made in any tax year exceed net investment income and accumulated realized capital gains, a portion of the total distribution may be treated as a return of capital for tax purposes.
Concentration of Market and Credit Risk. Because the Portfolio invests substantially all of its assets in Ivy Funds mutual funds (“Underlying Funds”), the risks associated with investing in the Portfolios are closely related to the risks associated with the securities and other investments held by the Underlying Funds.
In the normal course of business, the Underlying Funds may invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (issuer credit risk). The value of securities held by the Underlying Funds may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Underlying Funds; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to issuer credit risk, the Underlying Funds may be exposed to counterparty credit risk, or the risk that an entity with which the Underlying Funds have unsettled or open transactions may fail to or be
26 | SEMIANNUAL REPORT | 2021 |
Table of Contents
unable to perform on its commitments. The Underlying Funds manage counterparty credit risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Underlying Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties.
Certain Underlying Funds may hold high-yield or non-investment-grade bonds, that may be subject to a greater degree of credit risk. Credit risk relates to the ability of the issuer to meet interest or principal payments or both as they become due. The Underlying Funds may acquire securities in default and are not obligated to dispose of securities whose issuers subsequently default.
Certain Underlying Funds may enter into financial instrument transactions (such as swaps, futures, options and other derivatives) that may have off-balance sheet market risk. Off-balance sheet market risk exists when the maximum potential loss on a particular financial instrument is greater than the value of such financial instrument.
If an Underlying Fund invests directly in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in financial derivatives that provide exposure to foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the base currency of the Underlying Funds, or, in the case of hedging positions, that the Underlying Fund’s base currency will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, or by the imposition of currency controls or other political developments in the United States or abroad.
The risk that changes related to the use of the London Interbank Offered Rate (“LIBOR”) or similar interbank offered rates (“IBORs,” such as the Euro Overnight Index Average (“EONIA”)) could have adverse impacts on financial instruments that reference LIBOR or a similar rate. While some instruments may contemplate a scenario where LIBOR or a similar rate is no longer available by providing for an alternative rate setting methodology, not all instruments have such fallback provisions and the effectiveness of replacement rates is uncertain. The abandonment of LIBOR and similar rates could affect the value and liquidity of instruments that reference such rates, especially those that do not have fallback provisions. The use of alternative reference rate products may impact investment strategy performance.
An outbreak of infectious respiratory illness caused by a novel coronavirus known as COVID-19 was first detected in China in December 2019 and has now been detected globally. This coronavirus has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, and lower consumer demand, as well as general concern and uncertainty. The impact of COVID-19, and other infectious illness outbreaks that may arise in the future, could adversely affect the economies of many nations or the entire global economy, individual issuers and capital markets in ways that cannot necessarily be foreseen. In addition, the impact of infectious illnesses in emerging market countries may be greater due to generally less established healthcare systems. Public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks in certain countries or globally. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty.
Indemnification. The Trust’s organizational documents provide current and former Trustees and Officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Trust. In the normal course of business, the Trust may also enter into contracts that provide general indemnification. The Trust’s maximum exposure under these arrangements is unknown and is dependent on future claims that may be made against the Trust. The risk of material loss from such claims is considered remote.
Basis of Preparation. Each Portfolio is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946 (“ASC 946”). The accompanying financial statements were prepared in accordance with U.S. GAAP, including but not limited to ASC 946. U.S. GAAP requires the use of estimates made by management. Management believes that estimates and valuations are appropriate; however, actual results may differ from those estimates, and the valuations reflected in the accompanying financial statements may differ from the value ultimately realized upon sale or maturity.
Subsequent Events. Management has performed a review for subsequent events through the date this report was issued.
3. | INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
Investments in affiliated mutual funds within the Ivy Funds family are valued at their Net Asset Value (“NAV”) as reported by the Underlying Funds. Short-term debt securities are valued at amortized cost, which approximates value.
Fair value is defined as the price that each Portfolio would receive upon selling an asset or would pay upon satisfying a liability in an orderly transaction between market participants at the measurement date.
2021 | SEMIANNUAL REPORT | 27 |
Table of Contents
Accounting standards establish a framework for measuring fair value and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the factors that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
An individual investment’s fair value measurement is assigned a level based upon the observability of the inputs which are significant to the overall valuation.
The three-tier hierarchy of inputs is summarized as follows:
• | Level 1 – Observable inputs such as quoted prices, available in active markets, for identical assets or liabilities. |
• | Level 2 – Significant other observable inputs, which may include, but are not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs. |
• | Level 3 – Significant unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, which may include assumptions made by the Board or persons acting at its direction that are used in determining the fair value of investments. |
A description of the valuation techniques applied to the Portfolios’ major classes of assets and liabilities measured at fair value on a recurring basis follows:
Equity Securities. Investments in registered open-end investment management companies will be valued based upon the NAV of such investments and are categorized as Level 1 of the fair value hierarchy.
Short-term Investments. Short-term investments having a maturity of 60 days or less are valued based on quotes that are obtained from an independent pricing service authorized by the Board. These investments are categorized as Level 2 of the fair value hierarchy.
4. | INVESTMENT MANAGEMENT AND PAYMENTS TO AFFILIATED PERSONS ($ amounts in thousands) |
Under a Distribution and Service Plan for each Portfolio’s shares adopted by the Trust pursuant to Rule 12b–1 under the Investment Company Act of 1940, each Portfolio pays a distribution and/or service fee to DDLP effective April 30, 2021 and paid IDI prior to April 30, 2021 in an amount not to exceed 0.25% of each Portfolio’s average annual net assets. The fee is paid to compensate DDLP/IDI for amounts it expends in connection with the distribution of the shares and/or provision of personal services to Portfolio shareholders and/or maintenance of shareholder accounts. All other Portfolio expenses were borne by Ivy Investment Management Company (“IICO”), an affiliate of IDI through April 30, 2021. Effective April 30, 2021, all other Portfolio expenses are borne by Delaware Management Company (“DMC”).
IICO served as each Portfolio’s investment adviser through April 30, 2021. Effective April 30, 2021, DMC serves as each Portfolio’s investment adviser. The Portfolios pay no management fees; however, IICO/DMC receives management fees from the underlying Ivy Funds. Each Portfolio pays advisory fees to IICO/DMC indirectly, as shareholders in the Underlying Funds. Likewise, each Portfolio indirectly pays other expenses related to the daily operations of the Underlying Funds.
28 | SEMIANNUAL REPORT | 2021 |
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As principal underwriter for each Portfolio’s shares, DDLP effective April 30, 2021 and IDI prior to April 30, 2021 receives sales commissions (which are not an expense of the Portfolios) for each Portfolio’s shares. A contingent deferred sales charge (“CDSC”) may be assessed against a shareholder’s redemption amount and paid to DDLP/IDI. During the period ended June 30, 2021, DDLP/IDI received the following amounts in sales commissions and CDSCs:
Gross Sales Commissions | CDSC | Commissions Paid(1) | ||||||||||
InvestEd 90 Portfolio | $ | 17 | $ | — | * | $ | 13 | |||||
InvestEd 80 Portfolio | 10 | — | * | 7 | ||||||||
InvestEd 70 Portfolio | 25 | — | * | 18 | ||||||||
InvestEd 60 Portfolio | 19 | — | * | 17 | ||||||||
InvestEd 50 Portfolio | 10 | — | * | 11 | ||||||||
InvestEd 40 Portfolio | 13 | — | * | 9 | ||||||||
InvestEd 30 Portfolio | 9 | — | * | 8 | ||||||||
InvestEd 20 Portfolio | 12 | — | * | 11 | ||||||||
InvestEd 10 Portfolio | 7 | — | * | 5 | ||||||||
InvestEd 0 Portfolio | 5 | — | * | 5 |
* | Not shown due to rounding |
(1) | DDLP/IDI reallowed/paid this portion of the sales charge to financial advisors and selling broker dealers. |
5. | INVESTMENT SECURITIES TRANSACTIONS ($ amounts in thousands) |
For the period ended June 30, 2021, the cost of purchases and the proceeds from maturities and sales of investments securities, other than U.S. Government and short-term securities, were as follows:
Purchases | Sales | |||||||
InvestEd 90 Portfolio | $ | 3,019 | $ | 1,857 | ||||
InvestEd 80 Portfolio | 2,798 | 4,152 | ||||||
InvestEd 70 Portfolio | 9,192 | 12,257 | ||||||
InvestEd 60 Portfolio | 9,448 | 10,913 | ||||||
InvestEd 50 Portfolio | 6,302 | 7,456 | ||||||
InvestEd 40 Portfolio | 10,500 | 10,606 | ||||||
InvestEd 30 Portfolio | 7,111 | 9,246 | ||||||
InvestEd 20 Portfolio | 8,959 | 10,863 | ||||||
InvestEd 10 Portfolio | 12,573 | 7,840 | ||||||
InvestEd 0 Portfolio | 14,479 | 10,572 |
6. | CAPITAL SHARE TRANSACTIONS (All amounts in thousands) |
The Trust has authorized an unlimited number of no par value shares of beneficial interest. Transactions in shares of beneficial interest were as follows:
InvestEd 90 Portfolio | InvestEd 80 Portfolio | |||||||||||||||||||||||||||||||
Six months ended 6-30-21 | Year ended 12-31-20 | Six months ended 6-30-21 | Period from 9-1-20 to 12-31-20 | |||||||||||||||||||||||||||||
Shares | Value | Shares | Value | Shares | Value | Shares | Value | |||||||||||||||||||||||||
Shares issued from sale of shares | 232 | $ | 2,790 | 567 | $ | 6,383 | 289 | $ | 3,325 | 1,738 | $ | 17,416 | ||||||||||||||||||||
Shares issued in reinvestment of distributions to shareholders | — | — | 139 | 1,547 | — | — | — | — | ||||||||||||||||||||||||
Shares redeemed | (138 | ) | (1,691 | ) | (2,517 | ) | (29,050 | ) | (412 | ) | (4,735 | ) | (206 | ) | (2,101 | ) | ||||||||||||||||
Net increase (decrease) | 94 | $ | 1,099 | (1,811 | ) | $ | (21,120 | ) | (123 | ) | $ | (1,410 | ) | 1,532 | $ | 15,315 |
2021 | SEMIANNUAL REPORT | 29 |
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InvestEd 70 Portfolio | InvestEd 60 Portfolio | |||||||||||||||||||||||||||||||
Six months ended 6-30-21 | Year ended 12-31-20 | Six months ended 6-30-21 | Year ended 12-31-20 | |||||||||||||||||||||||||||||
Shares | Value | Shares | Value | Shares | Value | �� | Shares | Value | ||||||||||||||||||||||||
Shares issued from sale of shares | 695 | $ | 9,050 | 2,740 | $ | 31,524 | 814 | $ | 9,435 | 2,900 | $ | 31,236 | ||||||||||||||||||||
Shares issued in reinvestment of distributions to shareholders | — | — | 504 | 6,162 | — | — | 364 | 4,000 | ||||||||||||||||||||||||
Shares redeemed | (963 | ) | (12,498 | ) | (4,097 | ) | (48,223 | ) | (972 | ) | (11,289 | ) | (5,390 | ) | (58,681 | ) | ||||||||||||||||
Net (decrease) | (268 | ) | $ | (3,448 | ) | (853 | ) | $ | (10,537 | ) | (158 | ) | $ | (1,854 | ) | (2,126 | ) | $ | (23,445 | ) |
InvestEd 50 Portfolio | InvestEd 40 Portfolio | |||||||||||||||||||||||||||||||
Six months ended 6-30-21 | Period from 9-1-20 to 12-31-20 | Six months ended 6-30-21 | Year ended 12-31-20 | |||||||||||||||||||||||||||||
Shares | Value | Shares | Value | Shares | Value | Shares | Value | |||||||||||||||||||||||||
Shares issued from sale of shares | 854 | $ | 9,296 | 3,759 | $ | 37,691 | 1,014 | $ | 12,369 | 2,016 | $ | 23,168 | ||||||||||||||||||||
Shares issued in reinvestment of distributions to shareholders | — | — | — | — | — | — | 238 | 2,814 | ||||||||||||||||||||||||
Shares redeemed | (966 | ) | (10,544 | ) | (448 | ) | (4,533 | ) | (1,047 | ) | (12,758 | ) | (4,631 | ) | (54,270 | ) | ||||||||||||||||
Net increase (decrease) | (112 | ) | $ | (1,248 | ) | 3,311 | $ | 33,158 | (33 | ) | $ | (389 | ) | (2,377 | ) | $ | (28,288 | ) |
InvestEd 30 Portfolio | InvestEd 20 Portfolio | |||||||||||||||||||||||||||||||
Six months ended 6-30-21 | Period from 9-1-20 to 12-31-20 | Six months ended 6-30-21 | Year ended 12-31-20 | |||||||||||||||||||||||||||||
Shares | Value | Shares | Value | Shares | Value | Shares | Value | |||||||||||||||||||||||||
Shares issued from sale of shares | 1,164 | $ | 12,223 | 5,422 | $ | 54,270 | 1,460 | $ | 15,809 | 2,919 | $ | 31,630 | ||||||||||||||||||||
Shares issued in reinvestment of distributions to shareholders | — | — | — | — | — | — | 358 | 3,828 | ||||||||||||||||||||||||
Shares redeemed | (1,392 | ) | (14,636 | ) | (831 | ) | (8,373 | ) | (1,671 | ) | (18,075 | ) | (8,014 | ) | (88,466 | ) | ||||||||||||||||
Net increase (decrease) | (228 | ) | $ | (2,413 | ) | 4,591 | $ | 45,897 | (211 | ) | $ | (2,266 | ) | (4,737 | ) | $ | (53,008 | ) |
InvestEd 10 Portfolio | InvestEd 0 Portfolio | |||||||||||||||||||||||||||||||
Six months ended 6-30-21 | Period from 9-1-20 to 12-31-20 | Six months ended 6-30-21 | Year ended 12-31-20 | |||||||||||||||||||||||||||||
Shares | Value | Shares | Value | Shares | Value | Shares | Value | |||||||||||||||||||||||||
Shares issued from sale of shares | 1,734 | $ | 17,562 | 5,432 | $ | 54,322 | 954 | $ | 9,886 | 2,348 | $ | 24,689 | ||||||||||||||||||||
Shares issued in reinvestment of distributions to shareholders | — | — | — | — | — | — | 106 | 1,103 | ||||||||||||||||||||||||
Shares redeemed | (1,295 | ) | (13,122 | ) | (760 | ) | (7,605 | ) | (603 | ) | (6,251 | ) | (3,251 | ) | (34,391 | ) | ||||||||||||||||
Net increase (decrease) | 439 | $ | 4,440 | 4,672 | $ | 46,717 | 351 | $ | 3,635 | (797 | ) | $ | (8,599 | ) |
7. | INTERFUND LENDING PROGRAM |
Pursuant to an exemptive order issued by the SEC (“Order”), the Ivy Funds, Ivy Variable Insurance Portfolios and InvestEd Portfolios collectively, the “Funds” only for purposes of this footnote 7) have the ability to lend money to, and borrow money from, each other pursuant to a master interfund lending agreement (“Interfund Lending Program”). Under the Interfund Lending Program, the Funds may lend or borrow money for temporary purposes directly to or from one another (each an “Interfund Loan”), subject to meeting the conditions of the Order. The interest rate to be charged on an Interfund Loan is the average of the overnight repurchase agreement rate and the short-term bank loan rate. The Funds made no Interfund Loans under the Interfund Lending Program during the period ended June 30, 2021.
30 | SEMIANNUAL REPORT | 2021 |
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8. | AFFILIATED COMPANY TRANSACTIONS (All amounts in thousands) |
A summary of the transactions in affiliated companies during the period ended June 30, 2021 follows:
12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Depreciation | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 0 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | $ | 338 | $ | 191 | $ | 43 | $ | — | * | $ | (4 | ) | $ | 482 | $ | 5 | $ | — | ||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 27,511 | 11,844 | 3,454 | 71 | (223 | ) | 35,749 | 240 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 16,101 | 2,268 | 7,043 | 105 | (331 | ) | 11,100 | 80 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 225 | 176 | 32 | — | * | (5 | ) | 364 | 4 | — | ||||||||||||||||||||||
$ | 44,175 | $ | 176 | $ | (563 | ) | $ | 47,695 | $ | 329 | $ | — |
12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 10 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 267 | $ | 66 | $ | 52 | $ | 11 | $ | 43 | $ | 335 | $ | 3 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 142 | 19 | 44 | 8 | 6 | 131 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 3,327 | 3,615 | 347 | — | * | (39 | ) | 6,556 | 67 | — | ||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 70 | 10 | 24 | 5 | 4 | 65 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 382 | 60 | 89 | 7 | 40 | 400 | 3 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 68 | 10 | 23 | 4 | 3 | 62 | — | * | — | |||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 133 | 20 | 40 | 7 | 11 | 131 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 472 | 67 | 124 | 12 | 38 | 465 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 19,462 | 5,391 | 1,403 | 1 | (97 | ) | 23,354 | 155 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 64 | 10 | 16 | 2 | 8 | 68 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 951 | 145 | 206 | 7 | 131 | 1,028 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 67 | 10 | 19 | 3 | 5 | 66 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 324 | 48 | 81 | 11 | 30 | 332 | — | — | ||||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 16,210 | 2,424 | 4,339 | (54 | ) | (204 | ) | 14,037 | 97 | — | ||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 479 | 89 | 38 | — | * | (7 | ) | 523 | 6 | — | ||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 272 | 43 | 69 | 14 | 8 | 268 | — | — | ||||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 2,615 | 412 | 617 | (18 | ) | (15 | ) | 2,377 | 24 | — | ||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 880 | 134 | 209 | 22 | 102 | 929 | — | — | ||||||||||||||||||||||||
$ | 46,185 | $ | 42 | $ | 67 | $ | 51,127 | $ | 357 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 20 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 704 | $ | 79 | $ | 127 | $ | 14 | $ | 126 | $ | 796 | $ | 6 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 375 | 8 | 109 | 32 | 4 | 310 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 6,116 | 2,870 | 514 | 5 | (80 | ) | 8,397 | 92 | — | |||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 275 | 6 | 84 | 17 | 18 | 232 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 838 | 27 | 174 | 28 | 74 | 793 | 6 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 178 | 5 | 55 | 5 | 14 | 147 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 350 | 11 | 96 | 17 | 29 | 311 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1,243 | 28 | 296 | 97 | 29 | 1,101 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 18,574 | 3,773 | 1,322 | 26 | (122 | ) | 20,929 | 147 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 168 | 7 | 37 | 2 | 21 | 161 | 3 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 2,353 | 59 | 454 | 108 | 207 | 2,273 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 266 | 6 | 69 | 12 | 20 | 235 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 1,110 | 27 | 249 | 7 | 130 | 1,025 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 167 | 9 | 25 | — | * | 3 | 154 | 5 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 21,400 | 880 | 5,911 | 299 | (638 | ) | 16,030 | 119 | — | |||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 632 | 37 | 39 | 2 | (11 | ) | 621 | 8 | — | |||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 985 | 49 | 239 | 72 | 7 | 874 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 159 | 339 | 27 | — | * | 1 | 472 | 4 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 2,352 | 684 | 174 | 4 | (47 | ) | 2,819 | 28 | — | |||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 2,156 | 55 | 457 | 129 | 164 | 2,047 | — | — | ||||||||||||||||||||||||
$ | 60,401 | $ | 876 | $ | (51 | ) | $ | 59,727 | $ | 420 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 30 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 660 | $ | 170 | $ | 142 | $ | 32 | $ | 115 | $ | 835 | $ | 7 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 351 | 8 | 103 | 19 | 15 | 290 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 5,262 | 1,573 | 490 | (2 | ) | (58 | ) | 6,285 | 71 | — | ||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 482 | 10 | 147 | 31 | 30 | 406 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 879 | 27 | 185 | 18 | 92 | 831 | 6 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 133 | 4 | 40 | 8 | 5 | 110 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 328 | 9 | 91 | 17 | 28 | 291 | 2 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1,195 | 27 | 283 | 28 | 92 | 1,059 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 8,193 | 2,786 | 798 | (1 | ) | (46 | ) | 10,134 | 72 | — | ||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 252 | 10 | 57 | 8 | 28 | 241 | 4 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 2,337 | 55 | 513 | 10 | 298 | 2,187 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 463 | 10 | 119 | 22 | 36 | 412 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 1,660 | 38 | 371 | 55 | 153 | 1,535 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 247 | 12 | 35 | 3 | 3 | 230 | 7 | — | ||||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 15,948 | 742 | 4,436 | (62 | ) | (196 | ) | 11,996 | 90 | — | ||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 590 | 44 | 45 | — | * | (8 | ) | 581 | 7 | — | ||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 1,476 | 82 | 367 | 73 | 46 | 1,310 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 238 | 774 | 71 | — | * | 1 | 942 | 8 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 1,755 | 677 | 172 | (1 | ) | (32 | ) | 2,227 | 23 | — | ||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 2,230 | 53 | 472 | 57 | 253 | 2,121 | — | — | ||||||||||||||||||||||||
$ | 44,679 | $ | 315 | $ | 855 | $ | 44,023 | $ | 298 | $ | — |
* | Not shown due to rounding. |
2021 | SEMIANNUAL REPORT | 33 |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 40 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 1,078 | $ | 220 | $ | 184 | $ | 21 | $ | 204 | $ | 1,339 | $ | 10 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 655 | 31 | 170 | 50 | 14 | 580 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 6,019 | 963 | 383 | 6 | (65 | ) | 6,540 | 71 | — | |||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 722 | 35 | 199 | 41 | 52 | 651 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 1,319 | 80 | 234 | 40 | 128 | 1,333 | 10 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 233 | 13 | 63 | 6 | 18 | 207 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 613 | 34 | 150 | 26 | 58 | 581 | 3 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1,938 | 98 | 401 | 141 | 62 | 1,838 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 3,917 | 4,572 | 401 | 4 | (38 | ) | 8,054 | 53 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 368 | 26 | 71 | 4 | 48 | 375 | 6 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 3,690 | 196 | 613 | 190 | 330 | 3,793 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 696 | 35 | 159 | 28 | 60 | 660 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 2,609 | 137 | 496 | 9 | 319 | 2,578 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 434 | 36 | 46 | (1 | ) | 9 | 432 | 13 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 18,660 | 1,354 | 5,317 | 297 | (588 | ) | 14,406 | 104 | — | |||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 828 | 104 | 52 | 3 | (13 | ) | 870 | 11 | — | |||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 2,191 | 193 | 484 | 148 | 32 | 2,080 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 417 | 1,116 | 65 | — | * | 2 | 1,470 | 12 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 2,052 | 1,070 | 157 | 5 | (43 | ) | 2,927 | 28 | — | |||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 3,474 | 187 | 618 | 176 | 313 | 3,532 | — | — | ||||||||||||||||||||||||
$ | 51,913 | $ | 1,194 | $ | 902 | $ | 54,246 | $ | 322 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 50 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 851 | $ | 229 | $ | 179 | $ | 40 | $ | 150 | $ | 1,091 | $ | 9 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 502 | 26 | 135 | 25 | 24 | 442 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 3,375 | 517 | 310 | (1 | ) | (33 | ) | 3,548 | 40 | — | ||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 542 | 25 | 153 | 33 | 39 | 486 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 1,082 | 63 | 201 | 21 | 121 | 1,086 | 8 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 191 | 10 | 54 | 11 | 10 | 168 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 424 | 23 | 107 | 20 | 39 | 399 | 2 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1,478 | 72 | 313 | 30 | 123 | 1,390 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 1,666 | 2,539 | 328 | — | * | (17 | ) | 3,860 | 26 | — | ||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 271 | 19 | 53 | 8 | 31 | 276 | 5 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 2,873 | 145 | 545 | 26 | 373 | 2,872 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 522 | 25 | 120 | 22 | 44 | 493 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 1,972 | 99 | 392 | 60 | 197 | 1,936 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 267 | 21 | 30 | 2 | 3 | 263 | 8 | — | ||||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 9,546 | 733 | 3,099 | (38 | ) | (110 | ) | 7,032 | 52 | — | ||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 425 | 62 | 39 | — | * | (6 | ) | 442 | 6 | — | ||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 1,683 | 163 | 394 | 78 | 59 | 1,589 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 257 | 617 | 67 | — | * | 1 | 808 | 7 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 1,097 | 767 | 144 | (1 | ) | (22 | ) | 1,697 | 17 | — | ||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 2,676 | 139 | 504 | 62 | 321 | 2,694 | — | — | ||||||||||||||||||||||||
$ | 31,700 | $ | 398 | $ | 1,347 | $ | 32,572 | $ | 181 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 60 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 1,737 | $ | 385 | $ | 272 | $ | 36 | $ | 343 | $ | 2,229 | $ | 17 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 1,017 | 39 | 237 | 70 | 30 | 919 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 4,924 | 1,468 | 314 | 11 | (62 | ) | 6,027 | 66 | — | |||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 1,269 | 34 | 302 | 63 | 104 | 1,168 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 2,313 | 85 | 312 | 59 | 244 | 2,389 | 17 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 439 | 15 | 103 | 10 | 36 | 397 | 3 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 950 | 32 | 195 | 35 | 98 | 920 | 5 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 3,236 | 90 | 536 | 215 | 127 | 3,132 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 2,582 | 3,703 | 295 | 4 | (30 | ) | 5,964 | 40 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 580 | 31 | 90 | 6 | 79 | 606 | 10 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 6,144 | 181 | 755 | 246 | 652 | 6,468 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 1,221 | 34 | 228 | 41 | 116 | 1,184 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 4,538 | 131 | 672 | 14 | 574 | 4,585 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 326 | 19 | 21 | — | * | 7 | 331 | 10 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 13,933 | 897 | 4,329 | 254 | (467 | ) | 10,288 | 75 | — | |||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 621 | 91 | 36 | 2 | (10 | ) | 668 | 8 | — | |||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 3,885 | 321 | 756 | 229 | 89 | 3,768 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 313 | 750 | 48 | — | * | 1 | 1,016 | 9 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 1,539 | 972 | 119 | 3 | (34 | ) | 2,361 | 23 | — | |||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 5,704 | 170 | 769 | 229 | 599 | 5,933 | — | — | ||||||||||||||||||||||||
$ | 57,271 | $ | 1,527 | $ | 2,496 | $ | 60,353 | $ | 283 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 70 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 3,662 | $ | 914 | $ | 469 | $ | 55 | $ | 763 | $ | 4,925 | $ | 38 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 2,111 | 64 | 432 | 129 | 80 | 1,952 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 6,506 | 2,898 | 312 | 12 | (83 | ) | 9,021 | 96 | — | |||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 2,705 | 31 | 545 | 110 | 245 | 2,546 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 4,647 | 93 | 446 | 74 | 534 | 4,902 | 35 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 925 | 17 | 183 | 9 | 87 | 855 | 6 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 1,974 | 33 | 330 | 57 | 219 | 1,953 | 10 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 6,457 | 125 | 879 | 375 | 310 | 6,388 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 6,420 | 1,010 | 258 | 4 | (35 | ) | 7,141 | 49 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 1,312 | 65 | 172 | 13 | 181 | 1,399 | 23 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 12,454 | 153 | 1,225 | 392 | 1,416 | 13,190 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 2,607 | 31 | 392 | 68 | 268 | 2,582 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 9,456 | 116 | 1,042 | 16 | 1,213 | 9,759 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 287 | 16 | 11 | — | * | 6 | 298 | 9 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 15,845 | 1,113 | 1,773 | 90 | (372 | ) | 14,903 | 106 | — | |||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 820 | 123 | 32 | 2 | (13 | ) | 900 | 11 | — | |||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 8,067 | 605 | 1,339 | 412 | 254 | 7,999 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 276 | 977 | 38 | — | * | 2 | 1,217 | 10 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 1,898 | 641 | 84 | 4 | (36 | ) | 2,423 | 24 | — | |||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 11,473 | 144 | 1,109 | 328 | 1,344 | 12,180 | — | — | ||||||||||||||||||||||||
$ | 99,902 | $ | 2,150 | $ | 6,383 | $ | 106,533 | $ | 417 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 80 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 613 | $ | 253 | $ | 196 | $ | 40 | $ | 98 | $ | 808 | $ | 6 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 349 | 43 | 116 | 22 | 12 | 310 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 621 | 375 | 159 | — | * | (7 | ) | 830 | 9 | — | ||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 456 | 46 | 148 | 32 | 28 | 414 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 749 | 89 | 175 | 18 | 80 | 761 | 6 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 155 | 17 | 50 | 10 | 6 | 138 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 327 | 36 | 97 | 18 | 27 | 311 | 2 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 1,035 | 124 | 281 | 28 | 79 | 985 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 345 | 438 | 123 | — | * | (3 | ) | 657 | 4 | — | ||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 209 | 34 | 59 | 8 | 22 | 214 | 4 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 1,978 | 214 | 476 | 18 | 257 | 1,991 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 439 | 46 | 121 | 22 | 33 | 419 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 1,567 | 171 | 382 | 57 | 144 | 1,557 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 41 | 8 | 8 | — | * | — | 41 | 1 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 1,741 | 253 | 610 | (7 | ) | (20 | ) | 1,357 | 10 | — | ||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 78 | 22 | 16 | — | * | (1 | ) | 83 | 1 | — | ||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 1,357 | 236 | 410 | 79 | 32 | 1,294 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 40 | 108 | 22 | — | * | — | 126 | 1 | — | |||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 194 | 59 | 41 | — | * | (3 | ) | 209 | 2 | — | ||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 1,891 | 226 | 458 | 58 | 216 | 1,933 | — | — | ||||||||||||||||||||||||
$ | 14,185 | $ | 403 | $ | 1,000 | $ | 14,438 | $ | 47 | $ | — |
* | Not shown due to rounding. |
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12-31-20 Value | Gross Additions | Gross Reductions | Realized Gain/(Loss) | Net Change in Unrealized Appreciation/ (Depreciation) | 6-30-21 Value | Distributions Received | Capital Gain Distributions | |||||||||||||||||||||||||
InvestEd 90 Portfolio | ||||||||||||||||||||||||||||||||
Delaware Ivy Value Fund, Class R6 | $ | 456 | $ | 287 | $ | 106 | $ | 14 | $ | 104 | $ | 755 | $ | 6 | $ | — | ||||||||||||||||
Delaware Ivy Small Cap Growth Fund, Class R6 | 274 | 64 | 69 | 17 | 12 | 298 | — | — | ||||||||||||||||||||||||
Delaware Ivy Securian Core Bond Fund, Class R6 | 216 | 134 | 32 | — | * | (2 | ) | 316 | 3 | — | ||||||||||||||||||||||
Delaware Ivy Pzena International Value Fund, Class R6 | 379 | 77 | 90 | 20 | 34 | 420 | — | — | ||||||||||||||||||||||||
Delaware Ivy ProShares S&P 500 Dividend Aristocrats Index Fund, Class R6 | 550 | 129 | 80 | 12 | 69 | 680 | 5 | — | ||||||||||||||||||||||||
Delaware Ivy ProShares Russell 2000 Dividend Growers Index Fund, Class R6 | 107 | 23 | 25 | 2 | 10 | 117 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Income Opportunities Fund, Class R6 | 242 | 52 | 50 | 9 | 28 | 281 | 1 | — | ||||||||||||||||||||||||
Delaware Ivy Mid Cap Growth Fund, Class R6 | 795 | 184 | 148 | 47 | 46 | 924 | — | — | ||||||||||||||||||||||||
Delaware Ivy Limited-Term Bond Fund, Class R6 | 134 | 172 | 28 | 1 | (1 | ) | 278 | 2 | — | |||||||||||||||||||||||
Delaware Ivy LaSalle Global Real Estate Fund, Class R6 | 175 | 50 | 36 | 4 | 25 | 218 | 4 | — | ||||||||||||||||||||||||
Delaware Ivy Large Cap Growth Fund, Class R6 | 1,550 | 329 | 259 | 61 | 189 | 1,870 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Small Cap Fund, Class R6 | 365 | 78 | 68 | 13 | 38 | 426 | — | — | ||||||||||||||||||||||||
Delaware Ivy International Core Equity Fund, Class R6 | 1,298 | 281 | 197 | 19 | 167 | 1,568 | — | — | ||||||||||||||||||||||||
Delaware Ivy High Income Fund, Class R6 | 29 | 10 | 4 | — | * | — | 35 | 1 | — | |||||||||||||||||||||||
Delaware Ivy Government Securities Fund, Class R6 | 580 | 144 | 157 | 3 | (13 | ) | 557 | 4 | — | |||||||||||||||||||||||
Delaware Ivy Global Bond Fund, Class R6 | 27 | 12 | 4 | — | * | — | 35 | — | * | — | ||||||||||||||||||||||
Delaware Ivy Emerging Markets Equity Fund, Class R6 | 1,110 | 330 | 239 | 71 | 22 | 1,294 | — | — | ||||||||||||||||||||||||
Delaware Ivy Crossover Credit Fund, Class R6 | 28 | 50 | 7 | — | * | — | 71 | — | * | — | ||||||||||||||||||||||
Delaware Ivy Corporate Bond Fund, Class R6 | 54 | 63 | 10 | — | * | (1 | ) | 106 | 1 | — | ||||||||||||||||||||||
Delaware Ivy Core Equity Fund, Class R6 | 1,434 | 350 | 238 | 72 | 161 | 1,779 | — | — | ||||||||||||||||||||||||
$ | 9,803 | $ | 365 | $ | 888 | $ | 12,028 | $ | 28 | $ | — |
* | Not shown due to rounding. |
9. | OTHER FUND INFORMATION |
At a meeting held on January 12, 2021, the Trustees, upon recommendation of the Audit Committee, selected PricewaterhouseCoopers LLP (“PwC”), contingent on PwC finalizing their independence assessment, to serve as the independent registered public accounting firm for the Trust for the fiscal year ending December 30, 2021. PwC affirmed their independence as an independent registered public accounting firm on February 18, 2021. During the fiscal years ended December 31, 2019 and December 31, 2020, Deloitte & Touche LLP’s (“Deloitte”) audit report on the financial statements of each Portfolio in the Trust did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified
2021 | SEMIANNUAL REPORT | 39 |
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as to uncertainty, audit scope, or accounting principles. In addition, there were no disagreements between the Trust and Deloitte on accounting principles, financial statements disclosures or audit scope, which, if not resolved to the satisfaction of Deloitte, would have caused them to make reference to the disagreement in their reports. Neither the Trust nor anyone on its behalf has consulted with PwC at any time prior to their selection with respect to the application of accounting principles to a specified transaction, either completed or proposed or the type of audit opinion that might be rendered on each Portfolio’s financial statements.
10. | FEDERAL INCOME TAX MATTERS ($ amounts in thousands) |
For Federal income tax purposes, cost of investments owned at June 30, 2021 and the related unrealized appreciation (depreciation) were as follows:
Portfolio | Cost of Investments | Gross Appreciation | Gross Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
InvestEd 90 Portfolio | $ | 12,325 | $ | 2,023 | $ | 17 | $ | 2,006 | ||||||||
InvestEd 80 Portfolio | 14,846 | 2,129 | 66 | 2,063 | ||||||||||||
InvestEd 70 Portfolio | 102,618 | 19,156 | 36 | 19,120 | ||||||||||||
InvestEd 60 Portfolio | 58,493 | 9,251 | 31 | 9,220 | ||||||||||||
InvestEd 50 Portfolio | 33,224 | 2,968 | 359 | 2,609 | ||||||||||||
InvestEd 40 Portfolio | 53,049 | 5,425 | 38 | 5,387 | ||||||||||||
InvestEd 30 Portfolio | 44,980 | 2,403 | 622 | 1,781 | ||||||||||||
InvestEd 20 Portfolio | 59,063 | 3,131 | 15 | 3,116 | ||||||||||||
InvestEd 10 Portfolio | 52,090 | 794 | 642 | 152 | ||||||||||||
InvestEd 0 Portfolio | 48,068 | 160 | 325 | (165 | ) |
For Federal income tax purposes, the Portfolios’ undistributed earnings and profit for the year ended December 31, 2020 and the post-October and late-year ordinary activity updated with information available through the date of this report were as follows:
Portfolio | Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Tax Return of Capital | Post- October Capital Losses Deferred | Late- Year Ordinary Losses Deferred | |||||||||||||||
InvestEd 90 Portfolio | $ | 677 | $ | 1,930 | $ | — | $ | — | $ | — | ||||||||||
InvestEd 80 Portfolio | 183 | 296 | — | — | — | |||||||||||||||
InvestEd 70 Portfolio | 2,541 | 5,639 | — | — | — | |||||||||||||||
InvestEd 60 Portfolio | 1,796 | 3,638 | — | — | — | |||||||||||||||
InvestEd 50 Portfolio | 345 | 442 | — | — | — | |||||||||||||||
InvestEd 40 Portfolio | 1,861 | 2,962 | — | — | — | |||||||||||||||
InvestEd 30 Portfolio | 507 | 403 | — | — | — | |||||||||||||||
InvestEd 20 Portfolio | 2,408 | 4,423 | — | — | — | |||||||||||||||
InvestEd 10 Portfolio | 410 | 205 | — | — | — | |||||||||||||||
InvestEd 0 Portfolio | 1,001 | 917 | — | — | — |
Internal Revenue Code regulations permit each Portfolio to elect to defer into its next fiscal year capital losses and certain specified ordinary items incurred between each November 1 and the end of its fiscal year. Each Portfolio is also permitted to defer into its next fiscal certain ordinary losses that are generated between January 1 and the end of its fiscal year.
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The tax character of dividends and distributions paid during the two fiscal years ended December 31, 2020 and 2019 were as follows:
December 31, 2020 | December 31, 2019 | |||||||||||||||
Portfolio | Distributed Ordinary Income(1) | Distributed Long-Term Capital Gains | Distributed Ordinary Income(1) | Distributed Long-Term Capital Gains | ||||||||||||
InvestEd 90 Portfolio | $ | 677 | $ | 870 | $ | 481 | $ | 862 | ||||||||
InvestEd 80 Portfolio | — | — | N/A | N/A | ||||||||||||
InvestEd 70 Portfolio | 2,512 | 3,650 | 3,756 | 3,961 | ||||||||||||
InvestEd 60 Portfolio | 1,862 | 2,138 | 2,103 | 1,932 | ||||||||||||
InvestEd 50 Portfolio | — | — | N/A | N/A | ||||||||||||
InvestEd 40 Portfolio | 1,809 | 1,005 | 1,647 | — | ||||||||||||
InvestEd 30 Portfolio | — | — | N/A | N/A | ||||||||||||
InvestEd 20 Portfolio | 2,573 | 1,255 | 2,253 | 897 | ||||||||||||
InvestEd 10 Portfolio | — | — | N/A | N/A | ||||||||||||
InvestEd 0 Portfolio | 1,099 | 3 | 906 | — |
(1) | Includes short-term capital gains distributed, if any. |
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PROXY VOTING INFORMATION | INVESTED PORTFOLIOS |
(UNAUDITED)
Proxy Voting Guidelines
A description of the policies and procedures the underlying Ivy Funds uses to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request, by calling 1.888.923.3355 and (ii) on the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov.
Proxy Voting Records
Information regarding how the InvestEd Portfolios and the underlying funds, as applicable, voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on Form N-PX at www.ivyinvestments.com and on the SEC’s website at www.sec.gov.
42 | SEMIANNUAL REPORT | 2021 |
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QUARTERLY PORTFOLIO SCHEDULE INFORMATION | INVESTED PORTFOLIOS |
(UNAUDITED)
Portfolio holdings can be found on the Trust’s website at www.ivyinvestments.com. Alternatively, a complete schedule of portfolio holdings of each Portfolio for the first and third quarters of each fiscal year is filed with the SEC and can be found as an exhibit to the Trust’s Form N-PORT. These holdings may be viewed in the following ways:
• | On the SEC’s website at www.sec.gov. |
• | For review and copy at the SEC’s Public Reference Room in Washington, DC. Information on the operations of the Public Reference Room may be obtained by calling 1.800.SEC.0330. |
OTHER INFORMATION |
INVESTED PORTFOLIOS |
The individual Portfolios herein have adopted a Liquidity Risk Management Program (the “Program”). The Portfolio’s board has designated a Liquidity Risk Management Committee (the “Committee”) as the administrator of the Program. The Committee or delegates of the Committee conduct the day-to-day operation of the Program. Under the Program, the Committee manages the Portfolio’s liquidity risk, which is the risk that any Portfolio could not meet shareholder redemption requests without significant dilution of remaining shareholders’ interests in the Portfolio. This risk is managed by monitoring the degree of liquidity of the Portfolio’s investments, limiting the amount of the Portfolio’s illiquid investments, and utilizing various risk management tools and facilities available to the Portfolio for meeting shareholder redemptions, among other means. The Committee’s process of determining the degree of liquidity of the Portfolio’s investments is supported by one or more third-party liquidity assessment vendors. The Portfolio’s board reviewed a report prepared by a designee of the Committee regarding the operation, adequacy and effectiveness of the Program from the period April 1, 2020 through December 31, 2020. The report described the Program’s liquidity classification methodology and the methodology in establishing a Portfolio’s Highly Liquid Investment Minimum (“HLIM”), if necessary. The Committee reported that during the period covered by the report, there were no material changes to the Program and no significant liquidity events impacting the Portfolio or its ability to timely meet redemptions without dilution to existing shareholders. In addition, the Committee provided its assessment that the Program, including the operation of each Portfolio’s HLIM, where applicable, had been effective in managing the Portfolio’s liquidity risk.
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INVESTED PORTFOLIOS
InvestEd 90 Portfolio
InvestEd 80 Portfolio
InvestEd 70 Portfolio
InvestEd 60 Portfolio
InvestEd 50 Portfolio
InvestEd 40 Portfolio
InvestEd 30 Portfolio
InvestEd 20 Portfolio
InvestEd 10 Portfolio
InvestEd 0 Portfolio
1.888.923.3355
Visit us online at www.ivyinvestments.com
2021 | SEMIANNUAL REPORT | 47 |
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SEMIANN-INVESTED (6-21)
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ITEM 2. CODE OF ETHICS
Required in annual report only.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT
Required in annual report only.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Required in annual report only.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
See Item 1 Shareholder Report.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of directors.
ITEM 11. CONTROLS AND PROCEDURES.
(a) | The Registrant’s Principal Executive Officer and Principal Financial Officer, or persons performing similar functions, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, have concluded that such controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are |
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effective and adequately designed to ensure that information required to be disclosed by the Registrant in its reports that it files or submits is accumulated and communicated to the Registrant’s management, including the Principal Executive Officer and Principal Financial Officer, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure. |
(b) | There were no significant changes in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended) that occurred during the registrant’s second fiscal half-year that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. EXHIBITS.
(a)(1) Required in annual report only.
Attached hereto as Exhibit 99.CERT.
Attached hereto as Exhibit 99.906CERT.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
INVESTED PORTFOLIOS | ||
(Registrant) | ||
By: | /s/ David F. Connor | |
David F. Connor, Secretary | ||
Date: | September 3, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Shawn K. Lytle | |
Shawn K. Lytle, Principal Executive Officer | ||
Date: | September 3, 2021 | |
By: | /s/ Richard Salus | |
Richard Salus, Principal Financial Officer | ||
Date: | September 3, 2021 |