Fund Detail

Delaware Ivy VIP Global Equity Income

(Formerly, Ivy VIP Global Equity Income)
Track Fund
$6.55 NAV as of 9/17/2021
($0.06) / -0.96% Daily NAV Change
11.19% YTD (NAV) as of 9/17/2021 i

Fund Summary

Global Diversification
Flexibility to invest in stocks trading in most countries around the world in a variety of economic sectors and industries.
Income Potential
Seeks income generating securities with favorable prospects for total return.
Experienced management
Portfolio managers have nearly 45 years of industry experience and are supported by more than 70 investment professionals.
Morningstar Style Box
Value Blend Growth
Portfolio Management
  • Christopher J. Parker, CFA

    • — Delaware Management Company
    • — 7 Years with Fund
    • — 26 Years in Industry
  • Robert Nightingale

    • — Delaware Management Company
    • — 3 Years with Fund
    • — 26 Years in Industry
Growth of a $10,000 Investment through 8/31/2021

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes. If it had, performance shown would have been lower.

Fact Sheet
Summary Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Quarterly Commentary
Information Statement
Q1 Holdings
Q3 Holdings
Daily Prices as of 9/17/2021
Net Asset Value (NAV) $6.55  
Daily NAV Change ($0.06) -0.96%
Weekly NAV Change ($0.04) -0.63%
Public Offering Price (POP) $6.55
Fund Facts
Ticker Symbol -
CUSIP 46600H505
Fund Code 865
Fund Type Global/International
Fund Inception 11/20/2003
Class Inception 11/20/2003
Fiscal Year End December
Dividends Paid May
Fund Assets
(as of 8/31/2021)
$325.5 mil
Total Equity Holdings
(as of 8/31/2021)
Total Holdings
(as of 8/31/2021)
Portfolio Turnover Rate
(as of 12/31/2020)
Morningstar Category World Large-Stock Value
BenchmarkFTSE All-World High Dividend Yield Index

Fund Performance

Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Monthly Rates of Return Average Annual Total Returns as of 8/31/2021

(Returns for periods of less than 1-yr are not annualized)
Fund at NAV 13.47% 25.98% 9.05% 8.57% 9.51% 7.34%
FTSE All-World High Dividend Yield Index 14.58% 28.73% 7.88% 8.43% 7.51% -
Morningstar World Large-Stock Value 15.95% 31.41% 8.58% 9.52% 8.96% -

Quarterly Rates of Return Average Annual Total Returns as of 6/30/2021

(Returns for periods of less than 1-yr are not annualized)
Fund at NAV 10.64% 32.13% 8.88% 8.41% 8.23% 7.26%
FTSE All-World High Dividend Yield Index 13.29% 36.03% 8.22% 9.08% 6.47% -
Morningstar World Large-Stock Value 14.38% 39.50% 9.11% 10.10% 7.90% -

Calendar Year Return

Class II6.95 15.56 -11.68 23.15 3.15 -4.69 13.18 29.61 9.84 -2.06 15.91 16.72 -35.91 17.88 16.37 9.96 13.03
FTSE All-World High Dividend Yield Index10.55 18.94 -11.56 21.22 -0.32 -4.66 15.21 18.87 1.21 -5.24 - - - - 8.78 - -

Morningstar Ratings as of 8/31/2021

Category: World Large-Stock Value

Overall out of 159 ★★★
3 Year out of 159 ★★★
5 Year out of 146 ★★★
10 Year out of 83 ★★★

Ratings are based on risk-adjusted returns.

Morningstar Ranking through 8/31/2021

Category: World Large-Stock Value

  Rank Percentile
1 Year 9 /12 62
3 Year 2 /12 45
5 Year 5 /12 65
10 Year 1 /12 42

Morningstar Ranking / # of Funds in Category displays the fund's actual rank within its Morningstar Category based on average annual total return and number of Funds in that Category. The Morningstar Percentile Ranking compares a Fund's Morningstar risk and return scores with all the Funds in the same Category, where 1% = Best and 100% = Worst.

Expense Ratios as of 4/30/2021

Net 1.03%
Gross 1.03%

5-Year Standard Deviation as of 8/31/2021

Fund 15.11
FTSE All-World High Dividend Yield Index 14.75

5-Year MPT* Statistics as of 8/31/2021

Alpha 0.24
Beta 0.99
R-Squared 94.06
Sharpe Ratio 0.49
Capture Ratio

Upside: 101.20%

Downside: 100.92%

*Modern Portfolio Theory

Growth of a $10,000 Investment through 8/31/2021

Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.

Fund Distributions

Historical Prices Inception 11/20/2003

Date Price Dividend Reinvest Date Capital Gain Reinvest Date

Historical Distributions Inception 11/20/2003

Ex-date Income Capital Gains Reinvest Gains Payment Date

*Special Dividend
The table includes the daily prices at NAV (net asset value) for the history of this fund's selected share class. NAV is the amount per share you would receive if you sold shares that day.

Fund Documents

Top 10 Equity Holdings as a % of net assets as of 8/31/2021

Taiwan Semiconductor Manufacturing Co. Ltd. Taiwan Semiconductor Manufacturing is the world's largest dedicated semiconductor foundry, offering advanced wafer production processes and manufacturing. 5.09%
Samsung Electronics Co. Ltd. Samsung Electronics Co., Ltd. is a Korea-based company engaged in the provision of consumer electronics, communication products, semiconductor products and home appliances. 3.93%
AstraZeneca plc AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of prescription medicines for six areas of healthcare. 3.92%
Bank of America Corp. Bank of America Corporation, a financial holding company, provides banking and nonbanking financial services and products to individual consumers. 3.74%
Schneider Electric S.A. Schneider Electric SE is a French multinational corporation that specializes in energy management, automation solutions, spanning hardware, software, and services. 3.60%
Philip Morris International, Inc. Philip Morris International Inc manufactures and sells cigarettes and other tobacco products in markets outside of the United States of America. The company's portfolio comprises international and local brands. 3.41%
Siemens AG Siemens AG (Siemens) is a Germany-based multinational company with a business portfolio of activities in the field of electronics and electrical engineering. 3.28%
CVS Caremark Corp. CVS Caremark Corp (CVS Caremark) is a health care provider in the United States. It is a pharmacy services company, providing value for its customers by managing pharmaceutical costs and improving health care outcomes through its pharmacy benefit management, mail order, specialty pharmacy division. 3.27%
Axa S.A. [Note: AXA Group is what yahoo points to] AXA Group, through its subsidiaries, provides insurance and asset management services, primarily in Europe, North America and Asia. 3.14%
Cisco Systems, Inc. Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products relating to the communications and information technology industry worldwide. 2.95%
Total Portfolio Holdings DOWNLOAD (as of 6/30/2021)
updated quarterly, upon availability
Market Capitalization as a % of equity assets as of 8/31/2021
Large ( > $10 bil) 98.8%
Medium ($2 - $10 bil) 1.2%
Small ( < $2 bil) 0.0%
Median Market Cap (as of 8/31/2021) $67.5 bil
Top 10 Industry Allocation (as a % of Equity Holdings as of 8/31/2021)
Diversified Banks 10.4%
Pharmaceuticals 8.4%
Electrical Components & Equipment 6.1%
Multi-Utilities 5.4%
Semiconductors 5.2%
Multi-Line Insurance 4.9%
Electric Utilities 4.1%
Technology Hardware, Storage & Peripherals 4.0%
Oil & Gas Exploration & Production 3.5%
Tobacco 3.5%
Sector Allocation as a % of equity assets as of 8/31/2021
Financials 24.38%
Industrials 13.78%
Health Care 13.55%
Information Technology 12.15%
Consumer Staples 10.27%
Utilities 9.49%
Energy 5.90%
Materials 4.20%
Consumer Discretionary 3.63%
Communication Services 2.65%
Portfolio Composition as a % of net assets as of 8/31/2021
Foreign Common Stock 64.40%
Domestic Common Stock 34.14%
Cash and Cash Equivalents 1.46%
Equity Country Allocation as a % of equity assets as of 8/31/2021
United States 34.6%
Germany 13.7%
France 11.1%
United Kingdom 9.4%
Japan 5.7%
Taiwan 5.2%
Switzerland 4.3%
South Korea 4.0%
Italy 2.7%
Canada 2.3%
Indonesia 2.2%
Singapore 2.1%
Ireland 1.5%
Sweden 1.2%
Total Portfolio Holdings
DOWNLOAD (as of 6/30/2021)

Fund Documents


Fact Sheet
Summary Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Quarterly Commentary
Information Statement
Q1 Holdings
Q3 Holdings

Additional Fund Literature

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Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

Risk factors: Investing involves risk, including the possible loss of principal. The value of the portfolio will change, and you could lose money on your investment. The portfolio's emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform non-dividend paying stocks and the market as a whole over any period of time. In addition, there is no guarantee that the companies in which the portfolio invests will declare dividends in the future or that dividends, if declared, will remain at current levels or increase over time. The amount of any dividend the company may pay may fluctuate significantly. In addition, the value of dividend-paying common stocks can decline when interest rates rise as fixed-income investments become more attractive to investors. This risk may be greater due to the current period of historically low interest rates. The portfolio typically holds a limited number of stocks (generally 50 to 70). As a result, the appreciation or depreciation of any one security held by the portfolio will have a greater impact on the portfolio's net asset value than it would if the portfolio invested in a large number of securities. Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis, and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics, have been and can be highly disruptive to economies and markets, adversely impacting individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Portfolio’s investments. Given the increasing interdependence among global economies and markets, conditions in one country, market, or region are increasingly likely to adversely affect markets, issuers, and/or foreign exchange rates in other countries. These disruptions could prevent the Portfolio from executing advantageous investment decisions in a timely manner and could negatively impact the Portfolio’s ability to achieve its investment objective. Any such event(s) could have a significant adverse impact on the value and risk profile of the Portfolio. These and other risks are more fully described in the portfolio's prospectus. Not all funds or fund classes may be offered at all broker/dealers. The DELAWARE IVY VARIABLE INSURANCE PORTFOLIOSSM, are only available as investment options in variable life insurance policies and variable annuity contracts issued by participating insurance companies. They are not offered or made available directly to the general public.

The Morningstar World Large-Stock Value Category compares funds that invest in a variety of international stocks and typically skew toward large-caps that are less expensive or growing more slowly than other global large-cap stocks. World large-stock value funds have few geographical limitations. It is common for these funds to invest most of their assets in developed markets, with the remainder divided among the globe’s emerging markets. These funds are not significantly overweight US equity exposure relative to the Morningstar Global Market Index and maintain at least a 20% absolute US exposure.

Index Description: The FTSE All-World High Dividend Yield Index comprises stocks that are characterized by higher than-average dividend yields and is based on the FTSE All-World Index. Real estate investment trusts (REITS) are removed from the index, as are stocks that are forecast to pay a zero dividend over the next 12 months. The remaining stocks are ranked by annual dividend yield and included in the target index until the cumulative market capitalization reaches 50% of the total market cap of this universe of stocks.

Annuities are long-term financial products designed for retirement purposes. Annuity and life insurance guarantees are based on the financial strength and claims-paying ability of the issuing insurance company. The guarantees have no bearing on the performance of a variable investment option. Variable investment options are subject to market risk, including loss of principal. There are charges and expenses associated with annuities and variable life insurance products, including mortality and expense risk charges, management fees, administrative fees, expenses for optional riders and deferred sales charges for early withdrawals. Withdrawals before age 59 1/2 may be subject to a 10% IRS tax penalty and surrender charges may apply.

The Portfolio’s investment manager, Delaware Management Company (Manager), may permit its affiliates, Macquarie Investment Management Global Limited (MIMGL) and Macquarie Funds Management Hong Kong Limited, to execute Portfolio security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time. YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

Style Analysis: The Morningstar Style Box reveals a fund's investment style. For equity funds the vertical axis shows the market capitalization of the stocks owned and the horizontal axis shows investment style (value, blend, or growth). For fixed-income funds, the vertical axis shows the credit quality of the bonds owned and the horizontal axis shows interest rate sensitivity as measured by a bond's effective duration. Morningstar seeks credit rating information from fund companies on a periodic basis (e.g., quarterly). In compiling credit rating information, Morningstar instructs fund companies to only use ratings that have been assigned by the following Nationally Recognized Statistical Rating Organizations (NRSROs): Moody's, Standard & Poor's, Fitch, and Egan-Jones. If two NRSROs have rated a security, fund companies are to report the lowest rating; if three or more NRSROs have rated the same security differently, fund companies are to report the rating that is in the middle. For example, if NRSRO X rates a security AA-, NRSRO Y rates the same security an A and NRSRO Z rates it a BBB+, the fund company should use the credit rating of 'A' in its reporting to Morningstar. PLEASE NOTE: Morningstar, Inc. is not itself an NRSRO nor does it issue a credit rating on the fund. An NRSRO rating on a fixed-income security can change from time-to-time. For credit quality, Morningstar combines the credit rating information provided by the fund companies with an average default rate calculation to come up with a weighted-average credit quality. The weighted-average credit quality is currently a letter that roughly corresponds to the scale used by a leading NRSRO. Bond funds are assigned a style box placement of "low", "medium", or "high" based on their average credit quality. Funds with a low credit quality are those whose weighted-average credit quality is determined to be less than "BBB-"; medium are those less than "AA-", but greater or equal to "BBB-"; and high are those with a weighted-average credit quality of "AA-" or higher. When classifying a bond portfolio, Morningstar first maps the NRSRO credit ratings of the underlying holdings to their respective default rates (as determined by Morningstar's analysis of actual historical default rates). Morningstar then averages these default rates to determine the average default rate for the entire bond fund. Finally, Morningstar maps this average default rate to its corresponding credit rating along a convex curve. For interest-rate sensitivity, Morningstar obtains from fund companies the average effective duration. Generally, Morningstar classifies a fixed-income fund's interest-rate sensitivity based on the effective duration of the Morningstar Core Bond Index (MCBI), which is currently three years. The classification of Limited will be assigned to those funds whose average effective duration is between 25% to 75% of MCBI's average effective duration; funds whose average effective duration is between 75% to 125% of the MCBI will be classified as Moderate; and those that are at 125% or greater of the average effective duration of the MCBI will be classified as Extensive. For municipal bond funds, Morningstar also obtains from fund companies the average effective duration. In these cases static breakpoints are utilized. These breakpoints are as follows: (i) Limited: 4.5 years or less; (ii) Moderate: more than 4.5 years but less than 7 years; and (iii) Extensive: more than 7 years. In addition, for non-US taxable and non-US domiciled fixed income funds static duration breakpoints are used: (i) Limited: less than or equal to 3.5 years; (ii) Moderate: greater than 3.5 and less than equal to 6 years; (iii) Extensive: greater than 6 years.

Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the product will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

Alpha, Beta, R-Squared, Standard Deviation, Sharpe Ratio and Capture Ratio are 5 year statistics. Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta). Beta reflects the sensitivity of the fund's return to fluctuations in the market index. R-squared indicates how much of a fund's fluctuations were attributable to movements in the fund's benchmark. Standard deviation is a measure of how volatile a fund's returns are. Sharpe ratio is a measure of a fund's risk-adjusted performance. Capture ratio reflects the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance, and does not include the effects of sales charges. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Information is subject to change and is not intended to represent any past or future investment recommendations.