Investing involves risk, including the possible loss of principal.
Risk is increased in a concentrated portfolio since it holds a limited number of
securities with each investment having a greater effect on the overall performance.
The disruptions caused by natural disasters, pandemics, or similar events could
prevent the Fund from executing advantageous investment decisions in a timely manner and could
negatively impact the Fund’s ability to achieve its investment objective and the value of the Fund’s
investments.
© 2024 Morningstar. All Rights Reserved. The information contained herein: (1) is
proprietary to Morningstar and/or its content providers; (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 does
not guarantee future results.
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 threeyear history. Exchange-traded
funds and open-end 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. 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.
All third-party marks cited are the property of their respective owners.
IYGIX rated 5, 4, 4 and 5 stars for the overall, 3-, 5-, and 10-year
periods among 1118, 1118, 1031 and 810 Large Growth funds, respectively. IYMIX rated 4, 3, 4 and 4
stars for the overall, 3-, 5-, and 10-year periods among 523, 523, 492 and 395 Mid-Cap Growth
funds, respectively. The calculation is based on a Morningstar Risk-Adjusted Return
measure that accounts for variation in a managed product’s monthly excess performance. Past
performance does not guarantee of future results.
Macquarie Asset Management (MAM) is the asset management division of Macquarie
Group. MAM is an integrated asset manager across public and private markets offering a diverse range
of capabilities, including real assets, real estate, credit, equities and multi-asset solutions.
Macquarie Group refers to Macquarie Group Limited and its subsidiaries and affiliates worldwide.
Delaware Funds by Macquarie refers to certain investment solutions that MAM distributes, offers, or
advises. Investment advisory services are provided to the Delaware Funds by Delaware Management
Company, a series of Macquarie Investment Management Business Trust (MIMBT), a Securities and Exchange
Commission (SEC) registered investment adviser. The Delaware Funds are distributed by Delaware
Distributors, L.P., a registered broker/dealer and member of the Financial Industry Regulatory
Authority (FINRA) and an affiliate of MIMBT.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any
Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie
Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does
not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie
Group entities. In addition, if this document relates to an investment, (a) the investor is subject to
investment risk including possible delays in repayment and loss of income and principal invested and
(b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of
return on or the performance of the investment, nor do they guarantee repayment of capital in respect
of the investment.
Document must be used in its entirety.
© 2024 Macquarie Management Holdings, Inc.