Waddell & Reed

Fund Detail

Waddell & Reed Advisors Accumulative Fund
Class A Shares

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Fund Facts
Ticker Symbol UNACX
CUSIP 930057880
Fund Code 623
Fund Type Domestic Equity
Fund Inception 10/9/1940
Class Inception 10/9/1940
Fiscal Year End June
Dividends Paid June, December
Fund Assets (as of 6/30/2017) $1.4 bil
Total Equity Holdings (as of 6/30/2017) 84
Total Holdings (as of 6/30/2017) 94
Portfolio Turnover Rate (as of 12/31/2016) 46%
Lipper Category Multi-Cap Core Funds
Morningstar Category Large Growth
Benchmarks S&P 500 TR USD
Daily Prices
as of 7/20/2017
Net Asset Value (NAV) $10.22
NAV Change ($) $0.01
NAV Change (%) 0.10%
Weekly NAV Change ($) $0.07
Weekly NAV Change (%) 0.69%
Public Offering Price (POP) $10.84
Historical Prices & Distributions
Please select a date
Fund Description

Seeking companies with value and growth potential


Strategy
Investment style based on a blend between bottom-up fundamental stock and sector analysis, coupled with a top-down macroeconomic perspective used to guide selection of industries and sector weightings.
Management approach
Emphasizes a blend of value and growth potential in selecting stocks.
Experience
Portfolio manager has more than 20 years of industry experience and has managed the Fund since 2004.
Morningstar Style Box
Source: Morningstar
Returns and Expenses

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 at NAV does not include the effect of sales charges, if it had, performance shown would be lower. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.

Monthly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 6/30/2017
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 8.96% 14.02% 7.09% 13.06% 5.76% 10.24%
Fund with 5.75% sales charge 2.75% 7.41% 4.98% 11.73% 5.14% 10.16%
S&P 500 TR USD 9.34% 17.90% 9.61% 14.63% 7.18% N/A
Lipper Multi-Cap Core Funds 8.39% 17.62% 6.58% 13.18% 5.88% N/A
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 6/30/2017
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 8.96% 14.02% 7.09% 13.06% 5.76% 10.24%
Fund with 5.75% sales charge 2.75% 7.41% 4.98% 11.73% 5.14% 10.16%
S&P 500 TR USD 9.34% 17.90% 9.61% 14.63% 7.18% N/A
Lipper Multi-Cap Core Funds 8.39% 17.62% 6.58% 13.18% 5.88% N/A
Expense Ratios
as of 10/31/2016
Net 1.12%
Gross 1.12%
Growth of a $10,000 Investment
through 6/30/2017
 Accumulative A
 S&P 500 TR USD

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.

Ratings and Rankings
Lipper Rankings
as of 6/30/2017
Category: Multi-Cap Core Funds
  Rank Percentile
1 Year 620 / 755 83
3 Year 316 / 646 49
5 Year 334 / 562 60
10 Year 211 / 375 57

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

Morningstar Ratings
as of 6/30/2017
Category: Large Growth
Overall (out of 1277 Large Growth)
3 Year (out of 1277 Large Growth)
5 Year (out of 1152 Large Growth)
10 Year (out of 803 Large Growth)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 6/30/2017)
Domestic Common Stock 91.80%
Cash and Cash Equivalents 4.59%
Foreign Common Stock 3.60%
Other Financial Instruments 0.01%
Sector Allocation
(as a % of equity holdings as of 6/30/2017)
Health Care 22.1%
Information Technology 20.8%
Consumer Staples 15.1%
Consumer Discretionary 13.2%
Financials 11.8%
Industrials 10.5%
Energy 5.0%
Utilities 1.5%
Equity Country Allocation
(as a % of equity holdings as of 6/30/2017)
United States 95.5%
Ireland 2.4%
Israel 0.8%
Canada 0.7%
Belgium 0.6%
Top 10 Equity Holdings
(as a % of net assets as of 6/30/2017)
Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions worldwide. Apple, Inc. 4.19%
Microsoft Corporation is a multinational computer technology corporation that develops, manufactures, licenses and supports a wide range of software products for computing devices.Microsoft Corp. 3.43%
Shire plc (Shire) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician.Shire Pharmaceuticals Group plc ADR 2.32%
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company.JPMorgan Chase & Co. 2.18%
Starbucks Corporation (Starbucks) is a roaster and retailer of specialty coffee, operating in more than 50 countries. Starbucks purchases, roasts, and sells whole bean coffees, as well as handcrafted coffee and tea beverages and a variety of fresh food items, through Company-operated retail stores.Starbucks Corp. 2.13%
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.Walt Disney Co. (The) 2.01%
Jazz Pharmaceuticals Public Limited Company is a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing and commercializing innovative products that address unmet medical needs. The Company has a diverse portfolio of products in the areas of narcolepsy, oncology, pain and psychiatry.Jazz Pharmaceuticals plc 1.85%
Citigroup Inc. (Citigroup) is a global diversified financial services holding company. Citigroup businesses provide consumers, corporations, governments and institutions with a range of financial products and services.Citigroup, Inc. 1.83%
The Company has businesses engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing its products and services nationally and others in its markets located in Pennsylvania, Virginia, Missouri, Wisconsin and Georgia. It also provides products and services internationally. PNC Financial Services Group, Inc. (The) 1.70%
Bank of America Corporation, a financial holding company, provides banking and nonbanking financial services and products to individual consumers.Bank of America Corp. 1.65%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2017)
Top 10 Industry Allocation
(as a % of equity holdings as of 6/30/2017)
Biotechnology 10.4%
Semiconductors 7.4%
Packaged Foods & Meats 6.5%
Pharmaceuticals 5.8%
Systems Software 4.8%
Restaurants 4.6%
Technology Hardware, Storage & Peripherals 4.4%
Health Care Equipment 4.2%
Other Diversified Financial Services 4.2%
Construction Machinery & Heavy Trucks 3.9%

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 Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. These and other risks are more fully described in the fund's prospectus. Not all funds or fund classes may be offered at all broker/ dealers.

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.

Index Description: S&P 500 - An unmanaged index of common stocks. It is not possible to invest directly in an index.

Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.

Fee Waiver and/or Expense Reimbursement: Through October 31, 2017, Waddell & Reed Investment Management Company (WRIMCO), the Fund’s investment manager, Waddell & Reed, Inc. (Waddell & Reed), the Fund’s distributor, and / or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’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 fund operating expenses as follows: Class B shares at 2.29%, Class C shares at 2.07%, and Class Y shares at 0.87%. Prior to that date, the expense limitation may not be terminated by WRIMCO, Waddell & Reed, WISC or the Board of Trustees.

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.

© 2017 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.

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.

Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.

YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.

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