Fund Detail

Ivy VIP Government Money Market

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Fund Summary

Overview
The Portfolio seeks to achieve its objective by investing under normal circumstances, at least 99.5% of its total assets in: (1) debt securities issued or guaranteed by the U.S. government or certain U.S. government agencies or instrumentalities (government securities), (2) repurchase agreements that are fully collateralized by cash and/or government securities, and/or (3) cash. The Portfolio seeks, as well, to maintain a net asset value (NAV) of $1.00 per share.
Table View
Daily Net Shareholder Flows
Six Month Historical Shadow NAV - Daily
Prime Institutional Funds (including Institutional Municipal Money Funds) - Six Month Historical Floating NAV - Daily
Daily Liquid Assets
Weekly Liquid Assets
Date Net Inflows/Outflows % Daily Liquid Assets % Weekly Assets Shadows NAV
11/15/2018 (146723) 42.57% 100.00% 1.0001
11/14/2018 13616.64 42.28% 100.00% 1.0001
11/13/2018 (536239) 42.28% 100.00% 1.0001
11/12/2018 (16657) 42.40% 100.00% 1.0001
11/09/2018 (325502) 42.39% 100.00% 1.0001
11/08/2018 138028.03 42.46% 100.00% 1.0001
11/07/2018 10638.00 42.43% 100.00% 1.0001
11/06/2018 (258975) 42.42% 100.00% 1.0001
11/05/2018 125111.22 43.47% 100.00% 1.0001
11/02/2018 (266054) 43.44% 100.00% 1.0001
11/01/2018 58432.17 43.49% 100.00% 1.0001
10/31/2018 (342827) 43.48% 100.00% 1.0001
10/30/2018 (175475) 43.55% 100.00% 1.0001
10/29/2018 143014.68 43.59% 100.00% 1.0001
10/26/2018 (130218) 43.63% 100.00% 1.0001
10/25/2018 48653.31 43.66% 100.00% 1.0001
10/24/2018 (8194) 43.65% 100.00% 1.0001
10/23/2018 157453.16 43.64% 100.00% 1.0001
10/22/2018 (147067) 43.61% 100.00% 1.0001
10/19/2018 170388.19 43.63% 100.00% 1.0001
10/18/2018 (616541) 43.59% 100.00% 1.0001
10/17/2018 (219189) 43.73% 100.00% 1.0001
10/16/2018 (683383) 43.77% 100.00% 1.0001
10/15/2018 449013.33 43.92% 100.00% 1.0001
10/12/2018 (8237) 43.53% 100.00% 1.0001
10/11/2018 472404.48 43.53% 100.00% 1.0001
10/10/2018 (744921) 43.42% 100.00% 1.0001
10/09/2018 (182295) 43.54% 100.00% 1.0001
10/08/2018 (32557) 43.58% 100.00% 1.0001
10/05/2018 (201141) 43.58% 100.00% 1.0001
10/04/2018 (8335) 43.62% 100.00% 1.0001
10/03/2018 (425071) 43.62% 100.00% 1.0001
10/02/2018 (1719983) 43.71% 100.00% 1.0001
10/01/2018 145850.72 44.09% 100.00% 1.0001
09/28/2018 140740.98 44.05% 100.00% 1.0001
09/27/2018 (105779) 44.09% 100.00% 1.0001
09/26/2018 (191410) 44.11% 100.00% 1.0001
09/25/2018 (30336) 44.15% 100.00% 1.0001
09/24/2018 963494.18 45.32% 100.00% 1.0001
09/21/2018 (43085) 45.11% 100.00% 1.0001
09/20/2018 1632841.31 45.11% 100.00% 1.0001
09/19/2018 (404036) 44.76% 100.00% 1.0001
09/18/2018 (561500) 44.84% 100.00% 1.0001
09/17/2018 49146.99 44.96% 100.00% 1.0001
09/14/2018 176509.48 44.68% 100.00% 1.0001
09/13/2018 471540.33 44.64% 100.00% 1.0001
09/12/2018 21282.96 44.53% 100.00% 1.0001
09/11/2018 (204851) 44.52% 100.00% 1.0001
09/10/2018 71046.91 44.57% 100.00% 1.0001
09/07/2018 (147070) 44.54% 100.00% 1.0001
09/06/2018 (142181) 44.57% 100.00% 1.0001
09/05/2018 16116.26 44.60% 100.00% 1.0001
09/04/2018 195020.68 44.59% 100.00% 1.0001
08/31/2018 (731733) 44.54% 100.00% 1.0001
08/30/2018 (337545) 44.70% 100.00% 1.0001
08/29/2018 53295.05 44.77% 100.00% 1.0001
08/28/2018 (56866033) 44.76% 100.00% 1.0001
08/27/2018 (215206) 35.18% 100.00% 1.0001
08/24/2018 (225070) 35.22% 100.00% 1.0001
08/23/2018 53738.29 35.26% 100.00% 1.0001
08/22/2018 (668416) 35.25% 100.00% 1.0001
08/21/2018 (381167) 35.38% 100.00% 1.0001
08/20/2018 345257.86 35.55% 100.00% 1.0001
08/17/2018 (374280) 35.47% 100.00% 1.0001
08/16/2018 (295415) 35.55% 100.00% 1.0001
08/15/2018 (90246) 35.61% 100.00% 1.0001
08/14/2018 179841.76 35.87% 100.00% 1.0001
08/13/2018 (392574) 35.83% 100.00% 1.0001
08/10/2018 (128723) 35.90% 100.00% 1.0001
08/09/2018 (71073) 35.92% 100.00% 1.0001
08/08/2018 (425209) 35.94% 100.00% 1.0001
08/07/2018 (315040) 36.02% 100.00% 1.0001
08/06/2018 (555686) 36.08% 100.00% 1.0001
08/03/2018 (202607) 36.18% 100.00% 1.0001
08/02/2018 (98422) 36.22% 100.00% 1.0001
08/01/2018 (201125) 36.24% 100.00% 1.0001
07/31/2018 176291.08 36.28% 100.00% 1.0001
07/30/2018 634749.14 36.24% 100.00% 1.0001
07/27/2018 (455660) 36.19% 100.00% 1.0001
07/26/2018 99519.87 36.28% 100.00% 1.0001
07/25/2018 (393922) 36.25% 100.00% 1.0001
07/24/2018 (706743) 36.65% 100.00% 1.0001
07/23/2018 47465.56 36.78% 100.00% 1.0001
07/20/2018 119782.54 36.77% 100.00% 1.0001
07/19/2018 469876.27 36.74% 100.00% 1.0001
07/18/2018 184419.19 36.64% 100.00% 1.0001
07/17/2018 22723.73 36.60% 100.00% 1.0001
07/16/2018 (283458) 36.60% 100.00% 1.0001
07/13/2018 (46680) 36.25% 100.00% 1.0001
07/12/2018 39068.10 36.25% 100.00% 1.0001
07/11/2018 (84365) 36.24% 100.00% 1.0001
07/10/2018 (591876) 36.26% 100.00% 1.0001
07/09/2018 166051.28 36.38% 100.00% 1.0001
07/06/2018 (101534) 36.33% 100.00% 1.0001
07/05/2018 (38375) 36.35% 100.00% 1.0001
07/03/2018 (189423) 36.35% 100.00% 1.0001
07/02/2018 (476073) 36.39% 100.00% 1.0001
06/29/2018 122692.95 36.45% 100.00% 1.0001
06/28/2018 379312.84 36.42% 100.00% 1.0001
06/27/2018 413794.47 36.42% 100.00% 1.0001
06/26/2018 (22906) 36.33% 100.00% 1.0001
06/25/2018 23551.81 36.33% 100.00% 1.0001
06/22/2018 (361868) 36.32% 100.00% 1.0001
06/21/2018 (185817) 36.39% 100.00% 1.0001
06/20/2018 (469544) 36.43% 100.00% 1.0001
06/19/2018 292.25 36.52% 100.00% 1.0001
06/18/2018 (83444) 36.52% 100.00% 1.0001
06/15/2018 12102.84 36.53% 100.00% 1.0001
06/14/2018 (807927) 36.11% 100.00% 1.0001
06/13/2018 (1255627) 36.27% 100.00% 1.0001
06/12/2018 (287554) 36.52% 100.00% 1.0001
06/11/2018 2240299.09 36.58% 100.00% 1.0001
06/08/2018 (19546) 36.12% 100.00% 1.0001
06/07/2018 (115115) 36.13% 100.00% 1.0001
06/06/2018 (104955) 36.15% 100.00% 1.0001
06/05/2018 2267967.42 36.17% 100.00% 1.0001
06/04/2018 43819.98 35.71% 100.00% 1.0001
06/01/2018 189068.92 35.69% 100.00% 1.0001
05/31/2018 72611.42 35.65% 100.00% 1.0001
05/30/2018 (50360) 35.63% 100.00% 1.0001
05/29/2018 242765.59 36.90% 100.00% 1.0001
05/25/2018 432164.85 36.92% 100.00% 1.0001
05/24/2018 (89033) 36.83% 100.00% 1.0001
05/23/2018 15634.47 36.85% 100.00% 1.0001
05/22/2018 (312819) 36.84% 100.00% 1.0001
05/21/2018 9042702.86 36.90% 100.00% 1.0001
05/18/2018 576049.03 35.03% 100.00% 1.0001
05/17/2018 (96801) 34.91% 100.00% 1.0001
05/16/2018 (78760) 33.46% 100.00% 1.0001
Portfolio Management
  • Mira Stevovich, CFA

    • — Ivy Investment Management Company
    • — 20 Years with Fund
    • — 31 Years in Industry
Documents
Fact Sheet
Prospectus
Summary Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Quarterly Commentary
XBRL
Fund Facts
Ticker Symbol -
CUSIP 46600H836
Fund Code 853
Fund Type Fixed Income Funds
Fund Inception 7/13/1987
Class Inception 7/13/1987
Fiscal Year End December
Dividends Paid Daily, Paid Monthly
Fund Assets
(as of 10/31/2018)
$252.1 mil
Total Holdings
(as of 10/31/2018)
43
Morningstar Category Prime Money Market
Lipper Category VA Money Market Funds

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 10/31/2018

(Returns for periods of less than 1-yr are not annualized)
YTD 1YR 3YR 5YR 10YR LIFE
Fund at NAV 1.19% 1.34% 0.63% 0.39% 0.34% 3.04%
Lipper VA Money Market Funds 1.02% 1.12% 0.48% 0.30% 0.21% -

Quarterly Rates of Return Average Annual Total Returns as of 9/30/2018

(Returns for periods of less than 1-yr are not annualized)
YTD 1YR 3YR 5YR 10YR LIFE
Fund at NAV 1.02% 1.25% 0.58% 0.36% 0.33% 3.04%
Lipper VA Money Market Funds 0.88% 1.04% 0.44% 0.27% 0.21% -

Annualized 7-Day Yield as of 11/15/2018

Subsidized 1.84%
Unsubsidized 1.84%

Lipper Ranking through 10/31/2018

Category: VA Money Market Funds

  Rank Percentile
1 Year 16 /62 26
3 Year 11 /60 19
5 Year 11 /60 19
10 Year 6 /55 11

Rankings are based on average annual total returns, but do not consider sales charges.

Expense Ratios as of 4/30/2018

Net 0.40%
Gross 0.40%

Fund Distributions

Historical Prices Inception 7/13/1987

Date Price Dividend Reinvest Date Capital Gain Reinvest Date

Historical Distributions Inception 7/13/1987

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 Holdings as a % of net assets as of 10/31/2018

Federal Home Loan Bank, 2.1%, 11/1/2018 43.39%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 4.77%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 3.37%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 2.87%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 2.78%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 2.37%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 2.30%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 2.20%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 1.97%
Overseas Private Investment Corp. (GTD by U.S. Government) (3-Month U.S. TB Rate), 2.3%, 11/7/2018 1.81%
Total Portfolio Holdings VIEW | DOWNLOAD (as of 10/31/2018)
updated monthly, upon availability
Maturity (as of 10/31/2018)
Weighted Average Maturity 4 days
Weighted Average Life Maturity 4 days
Total Portfolio Holdings
VIEW | DOWNLOAD (as of 10/31/2018)

Fund Documents

Documents

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

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.

You could lose money by investing in Ivy VIP Government Money Market. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Portfolio’s sponsor has no legal obligation to provide financial support to the Portfolio, and you should not expect that the sponsor will provide financial support to the Portfolio at any time.

Risk Factors: Interest rate increases can cause the price of a money market security to decrease. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a money market security to decrease. Fund shares are not guaranteed by the US Government.

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.

Prior to October 14, 2016, the Ivy VIP Government Money Market Fund was known as the Ivy VIP Money Market Fund. Effective October 14, 2016, the Portfolio changed its name and investment strategy to reflect that it is classified as a “government money market fund.” Performance prior to October 14, 2016 reflects the Portfolio’s former investment strategy as a prime money market fund, which permitted investments in certain types of securities that, as a government money market fund, the Portfolio is no longer permitted to hold.

Daily Net Shareholder Flows: Shows daily net shareholder flows (inflows minus outflows) over the last six months for the fund.

Daily Liquid Assets: Regulations require that a money market mutual fund hold at least 10% of its total assets in daily liquid assets that can be readily converted to cash in one business day. The graph shows the percentage of daily liquid assets over the last six months for the fund.

Weekly Liquid Assets: Regulations require that a money market mutual fund hold at least 30% of its total assets in weekly liquid assets that can be readily converted to cash in five business days. The graph shows the percentage of weekly liquid assets over the last six months for the fund.

Six Month Historical Shadow NAV - Daily: Money market funds that transact at a stable price are required by the Securities and Exchange Commission (SEC) to report instances on Form N-CR when the Fund’s current NAV per share deviates downward from its intended stable price of $1.00 by more than ¼ of 1 percent, $0.9975. The red line in the chart shows where a report would be required, compared with the historical NAV per share of the fund.

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.

7-Day Annualized Yield: represents past performance and future yields will vary. Principal is not guaranteed. The annualized 7-day yield is calculated based on the income generated by an investment in the fund over a seven-day period and is expressed as an annual percentage rate. The yield quotation more closely reflects the current earnings of the fund than the total return quotation.

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.

© 2018 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.