Waddell & Reed

Fund Detail

Ivy ProShares S&P 500 Dividend Aristocrats Index Fund
Class A Shares

Please select a fund and share class

Fund Facts
Ticker Symbol IDAAX
CUSIP 46600A641
Fund Code 654
Fund Type Domestic Equity
Fund Inception 4/20/2017
Class Inception 4/20/2017
Fiscal Year End September
Dividends Paid March, June, September, December
Fund Assets (as of 4/30/2020) $373.2 mil
Total Equity Holdings (as of 4/30/2020) 66
Total Holdings (as of 4/30/2020) 66
Portfolio Turnover Rate (as of 9/30/2019) 28%
Lipper Category Multi-Cap Core Funds
Morningstar Category Large Blend
Benchmarks S&P 500 Dividend Aristocrats Index
Daily Prices
as of 6/1/2020
Net Asset Value (NAV) $11.76
NAV Change ($) $0.05
NAV Change (%) 0.43%
Weekly NAV Change ($) $0.59
Weekly NAV Change (%) 5.28%
Public Offering Price (POP) $12.06
Historical Prices & Distributions
Please select a date
Fund Description

Targeting the S&P 500's top dividend growers with the longest track records


The Fund focuses on the S&P 500 companies that have long track records of year-over-year dividend growth. It follows the S&P 500® Dividend Aristocrats® Index and targets S&P 500 companies that have increased dividend payouts every year for at least 25 consecutive years.
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 5/31/2020
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -11.00% 4.81% 7.10% N/A N/A 7.52%
Fund with 2.50% sales charge -13.23% 2.15% 6.21% N/A N/A 6.64%
Lipper Multi-Cap Core Funds N/A N/A N/A N/A N/A 11.01%
Quarterly Rates of Return
(Returns for periods of less than 1-yr are not annualized)
Average Annual Total Returns
as of 3/31/2020
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV -23.39% -13.32% N/A N/A N/A 2.61%
Fund with 2.50% sales charge -25.31% -15.51% N/A N/A N/A 1.72%
S&P 500 Dividend Aristocrats Index -23.29% -12.72% 3.44% 5.43% 10.98% 3.70%
Lipper Multi-Cap Core Funds N/A N/A N/A N/A N/A 9.47%
Expense Ratios
as of 1/31/2020
Net 0.74%
Gross 0.89%
Ratings and Rankings
Lipper Rankings
as of 11/30/2019
Category: Multi-Cap Core Funds
  Rank Percentile
1 Year 282 / 723 39

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

Morningstar Ratings
as of 4/30/2020
Category: Large Blend
Overall (out of 1231 Large Blend)
3 Year (out of 1231 Large Blend)

Ratings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 4/30/2020)
Domestic Common Stock 92.39%
Foreign Common Stock 7.40%
Cash and Cash Equivalents 0.21%
Sector Allocation
(as a % of equity holdings as of 4/30/2020)
Consumer Staples 22.2%
Industrials 21.1%
Materials 12.7%
Consumer Discretionary 10.5%
Health Care 10.5%
Financials 10.1%
Real Estate 4.0%
Utilities 3.2%
Energy 2.8%
Information Technology 1.5%
Communication Services 1.5%
Equity Country Allocation
(as a % of equity holdings as of 4/30/2020)
United States 92.6%
United Kingdom 4.6%
Ireland 1.5%
Switzerland 1.3%
Top 10 Equity Holdings
(as a % of net assets as of 4/30/2020)
The Clorox Co. manufactures and markets consumer and institutional products in segments including Cleaning, Lifestyle, Household and International. These include a wide range of laundry, cleaning, packaging, food, water filtration, personal care and other products. Clorox was founded in 1913 and is headquartered in Oakland, CA.Clorox Co. (The) 2.18%
One of the largest discount retail stores in the world, providing consumer staples and recreational products in 27 countries.Wal-Mart Stores, Inc. 1.96%
Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.Abbott Laboratories 1.88%
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.Johnson & Johnson 1.86%
Colgate-Palmolive Company, together with its subsidiaries, manufactures and markets consumer products worldwide. It operates in two segments, Oral, Personal, and Home Care; and Pet Nutrition.Colgate-Palmolive Co. 1.85%
Hormel Foods Corp. manufactures and markets consumer-branded meat and food products around the world. Hormel Foods Corp. 1.83%
S&P Global Inc. is a publicly traded U.S. corporation with primary areas of business in financial information and analytics.S&P Global, Inc. 1.83%
AbbVie Inc. researches and develops pharmaceutical products. The Company produces pharmaceutical drugs for specialty therapeutic areas such as immunology, chronic kidney disease, hepatitis C, women's health, oncology, and neuroscience. AbbVie also offers treatments for diseases including Multiple Sclerosis, Parkinson's, and Alzheimer's disease.AbbVie, Inc. 1.82%
Ecolab Inc. is a global provider of water, hygiene, and energy technologies and services for customers in foodservice, food processing, hospitality, healthcare, industrial, and oil and gas markets. The Company's services include water treatments, cleaning and sanitizing solutions, pest elimination, and kitchen repair and maintenance services.Ecolab, Inc. 1.80%
Empresa Nacional de Electricidad S.A., engages in the generation, transmission, and distribution of electricity in Chile, Argentina, Brazil, Colombia, and Peru. It owns and operates hydroelectric, thermal, and wind power generation facilities.Expeditors International of Washington, Inc. 1.78%
Total Portfolio Holdings
(updated quarterly, upon availability)

View | Download (as of 3/31/2020)
Top 10 Industry Allocation
(as a % of equity holdings as of 4/30/2020)
Specialty Chemicals 6.2%
Industrial Machinery 6.1%
Household Products 5.8%
Pharmaceuticals 3.7%
Industrial Gases 3.3%
Health Care Equipment 3.2%
Soft Drinks 3.2%
Electrical Components & Equipment 3.1%
Asset Management & Custody Banks 3.0%
Food Distributors 2.9%
Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
Michael Neches ProShare Advisors LLC (Sub-adviser) 3
Devin Sullivan ProShare Advisors LLC (Sub-adviser) 14 2

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. The Fund may allocate its assets among different asset classes of varying correlation around the globe. The Fund’s Equity Sleeve 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 Fund may have a greater impact on the Fund’s NAV than it would if it invested in a larger number of securities. 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. The Fund’s Diversifying Sleeve includes fixed-income securities, that are subject to interest-rate risk and, as such, the net asset value of the Fund may fall as interest rates rise. Investing in high-income securities may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. Loans (including loan assignments, loan participations and other loan instruments) carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loans may be unsecured or not fully collateralized may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. The Fund may seek to hedge market risk via the use of derivative instruments. Such investments involve additional risks. Investing in commodities is generally considered speculative because of the significant potential for investment loss due to cyclical economic conditions, sudden political events, and adverse international monetary policies. Markets for commodities are likely to be volatile and the Fund may pay more to store and accurately value its commodity holdings than it does with the Fund’s other holdings. 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. The S&P 500® Dividend Aristocrats® Index measures the performance S&P 500 companies that have increased dividends every year for the last 25 consecutive years. The Index treats each constituent as a distinct investment opportunity without regard to its size by equally weighting each company. It is not possible to invest directly in an index.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2021, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), 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 (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.74%; Class E shares at 0.60%; and Class I and Class N shares at 0.50%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2021, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class I shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

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.

30-Day SEC Yield: is calculated based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30 day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

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.

The Funds are managed by Ivy Investment Management Company and sub-advised by ProShare Advisors LLC.

ProShares® is a registered mark of ProShare Advisors LLC and has been licensed by Ivy Investment Management Company and Ivy Distributors, Inc. solely for use in connection with the Ivy ProShares funds.

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.

Financial Advisor Opportunities
Corporate Careers