Fund Detail

Ivy VIP Global Growth

Track Fund
$3.49 NAV as of 2/26/2020
$0.01 / 0.18% Daily NAV Change
-2.50% YTD (NAV) as of 2/26/2020 i

Fund Summary

We utilize a research-based investment process that blends bottom-up stock selection, with a top-down global economic analysis. We seek strong companies that possess a unique, sustainable competitive advantage that we believe will allow them to withstand competitive pressures and grow faster than the general economy. We look at a number of facts in selecting securities, including a company’s competitive position and its sustainability, a company’s growth and earning potential and valuation, a company’s financials, including cash flow and balance sheet, management of the company and strength of the industry, and applicable economic, market and political conditions of the country in which the company is located and/or in which it is doing business.
Morningstar Style Box
Value Blend Growth
Portfolio Management
  • Sarah C. Ross, CFA

    • — Ivy Investment Management Company
    • — 5 Years with Fund
    • — 24 Years in Industry
Growth of a $10,000 Investment through 1/31/2020

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
Daily Prices as of 2/26/2020
Net Asset Value (NAV) $3.49  
Daily NAV Change $0.01 0.18%
Weekly NAV Change ($0.28) -7.44%
Public Offering Price (POP) $3.49
Fund Facts
Ticker Symbol -
CUSIP 46600H877
Fund Code 858
Fund Type Global/International
Fund Inception 5/3/1994
Class Inception 5/3/1994
Fiscal Year End December
Dividends Paid May
Fund Assets
(as of 1/31/2020)
$146.4 mil
Total Equity Holdings
(as of 1/31/2020)
Total Holdings
(as of 1/31/2020)
Portfolio Turnover Rate
(as of 12/31/2018)
Morningstar Category World Large Stock
Lipper Category VA Global Large-Cap Growth
BenchmarkMSCI World NR USD

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.

Performance data quoted does not reflect any expenses or charges associated with owning a variable life insurance policy or variable annuity contract that invests in the Portfolio's shares. When such charges are deducted, actual investment performance will be lower.

Monthly Rates of Return Average Annual Total Returns as of 1/31/2020

(Returns for periods of less than 1-yr are not annualized)
Fund at NAV -0.01% 16.62% 12.18% 7.76% 8.93% 7.34%
MSCI World NR USD -0.61% 17.73% 11.45% 9.00% 9.87% -
Morningstar World Large Stock -1.15% 15.14% 10.51% 8.06% 8.92% -

Quarterly Rates of Return Average Annual Total Returns as of 12/31/2019

(Returns for periods of less than 1-yr are not annualized)
Fund at NAV 25.93% 25.93% 13.70% 8.06% 8.34% 7.36%
MSCI World NR USD 27.67% 27.67% 12.57% 8.74% 9.47% -
Morningstar World Large Stock 25.68% 25.68% 12.09% 8.10% 8.59% -

Calendar Year Return

Class II3.39 -3.04 24.52 -6.27 25.93 14.79 -7.32 18.05 19.23 0.96 16.47 20.99 21.29 -42.15 26.89 -23.66 -22.23 -18.15 24.90 14.00 7.28 15.11 16.70 33.89 65.58
MSCI World NR USD-0.87 7.51 22.40 -8.71 27.67 11.76 -5.54 15.83 26.68 4.94 9.49 20.07 9.04 -40.71 29.99 - - - 33.11 14.72 - - - - -

Morningstar Ratings as of 1/31/2020

Category: World Large Stock

Overall out of 741 ★★★
3 Year out of 741 ★★★★
5 Year out of 607 ★★★
10 Year out of 365 ★★★

Ratings are based on risk-adjusted returns.

Morningstar Ranking through 1/31/2020

Category: World Large Stock

  Rank Percentile
1 Year 47 /88 41
3 Year 34 /80 30
5 Year 40 /74 50
10 Year 34 /58 55

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 4/30/2019

Net 1.13%
Gross 1.18%

3-Year Standard Deviation as of 1/31/2020

Fund 12.87
MSCI World NR USD 11.64

3-Year MPT* Statistics as of 1/31/2020

Alpha -0.14
Beta 1.10
R-Squared 93.17
Sharpe Ratio 0.82
Capture Ratio

Upside: 105.97%

Downside: 105.70%

*Modern Portfolio Theory

Growth of a $10,000 Investment through 1/31/2020

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 5/3/1994

Date Price Dividend Reinvest Date Capital Gain Reinvest Date

Historical Distributions Inception 5/3/1994

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.

12-Month Trailing Dist. Yield as of 1/31/2020

NAV 0.63%
With Sales Charge 0.63%

Fund Documents

Top 10 Equity Holdings as a % of net assets as of 1/31/2020, Inc., Inc. operates as an online retailer in North America and internationally. 5.15%
Airbus SE Airbus SE manufactures airplanes and military equipment. The Company produces military fighter aircraft, military and commercial helicopters, missiles, satellites, and telecommunications and defense systems, as well as offers military and commercial aircraft conversion and maintenance services. 4.99%
Microsoft Corp. Microsoft Corporation is a multinational computer technology corporation that develops, manufactures, licenses and supports a wide range of software products for computing devices. 4.64%
Visa, Inc., Class A Visa Inc. operates retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities. 3.98%
Thermo Fisher Scientific, Inc. Thermo Fisher Scientific is an American biotechnology product development company located in Waltham, Massachusetts, and was created in 2006 by the merger of Thermo Electron and Fisher  2.89%
Alimentation Couche-Tard, Inc., Class B 2.73%
Ferrari N.V. Ferrari is an Italian luxury sports car manufacturer based in Maranello. Founded by Enzo Ferrari in 1939 out of Alfa Romeo's race division as Auto Avio Costruzioni, the company built its first car in 1940.  2.60%
Johnson & Johnson Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. 2.59%
Ping An Insurance (Group) Co. of China Ltd., H Shares Ping An Insurance (Group) Company of China Limited provides property, casualty and life insurance products to customers in Hong Kong. 2.47%
Infineon Technologies AG Infineon Technologies AG designs, manufactures and markets semiconductors. The Company's products include power semiconductors, microcontrollers, security controllers, radio frequency products, and sensors. Infineon markets its products to the automotive, industrial, communications, and consumer and security electronics sectors. 2.41%
Total Portfolio Holdings DOWNLOAD (as of 12/31/2019)
updated quarterly, upon availability
Market Capitalization as a % of equity assets as of 1/31/2020
Large ( > $10 bil) 95.8%
Medium ($2 - $10 bil) 2.7%
Small ( < $2 bil) 1.4%
Median Market Cap (as of 1/31/2020) $77.8 bil
Top 10 Industry Allocation (as a % of Equity Holdings as of 1/31/2020)
Data Processing & Outsourced Services 7.8%
Aerospace & Defense 6.9%
Internet & Direct Marketing Retail 6.8%
Life & Health Insurance 5.7%
Semiconductors 5.2%
Systems Software 4.6%
Pharmaceuticals 4.2%
Automobile Manufacturers 3.5%
Electrical Components & Equipment 3.2%
Interactive Media & Services 3.1%
Sector Allocation as a % of equity assets as of 1/31/2020
Information Technology 24.72%
Financials 16.20%
Industrials 15.78%
Consumer Discretionary 15.39%
Health Care 11.31%
Consumer Staples 6.70%
Energy 5.00%
Communication Services 4.90%
Portfolio Composition as a % of net assets as of 1/31/2020
Foreign Common Stock 51.46%
Domestic Common Stock 48.51%
Cash and Cash Equivalents 0.03%
Equity Country Allocation as a % of equity assets as of 1/31/2020
United States 48.5%
France 10.5%
China 7.1%
United Kingdom 5.5%
Canada 4.1%
Netherlands 3.8%
Germany 3.7%
Japan 3.7%
Switzerland 3.4%
India 2.7%
Italy 2.6%
Hong Kong 2.1%
Taiwan 1.3%
Brazil 1.0%
Total Portfolio Holdings
DOWNLOAD (as of 12/31/2019)

Fund Documents


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

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: The value of the Portfolio's shares will change, and you could lose money on your investment. International investing involves additional risks including currency fluctuations, political or economic conditions affecting the foreign country, and differences in accounting standards and foreign regulations. These risks are magnified in emerging markets. To the extent the Portfolio invests a significant portion of its assets in a particular geographical region or country, economic, political, social and environmental conditions in that region or country will have a greater effect on Portfolio performance than they would in a more geographically diversified equity portfolio and the Portfolio’s performance may be more volatile than the performance of a more geographically diversified portfolio. These and other risks are more fully described in the Portfolio's prospectus. Not all portfolios may be offered at all broker/ dealers. The 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.

Index Description: MSCI World is an unmanaged index comprised of securities that represent the securities markets around the world. It is not possible to invest directly in an index.

The MSCI information may only be used for your internal use, may not be reproduced or repurposed in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, salability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. ( Source: MSCI.

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.

Alpha, Beta, R-Squared, Standard Deviation, Sharpe Ratio and Capture Ratio are 3 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).

Fee Waiver and/or Expense Reimbursement: Through April 30, 2020, Ivy Investment Management Company (IICO), the Portfolio’s investment manager, Ivy Distributors, Inc. (IDI), the Portfolio’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Portfolio’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary portfolio operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) for Class II shares at 1.13%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees.

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 fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.

12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.

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. © 2019 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.