Fund Facts  

Inception Date: Nov 9, 1992
Ticker Symbol: DFDIX
Morningstar Category:Mid-Cap Growth
As of Mar 31, 2016
Fund Net Assets ($millions) $1,307

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks long-term capital appreciation.

Principal Investment Strategies  

The fund invests primarily in common stocks of growth-oriented companies that its portfolio managers believe have long-term capital appreciation potential and expect to grow faster than the U.S. economy. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small-and mid-capitalization companies (80% policy).

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Delaware Smid Cap Growth Instla1.23%1.23%2.53%12.71%10.61%8.99%10.19%
Russell 2500 Growth Indexa,b-2.66%-2.66%-9.57%9.25%8.77%7.00%N/A
Morningstar Mid-Cap Growtha,c-1.84%-1.84%-7.76%8.36%7.57%6.04%N/A

Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Annual Fund Operating Expenses
Total expensesa0.97%

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.

b. The Russell 2500® Growth Index measures the performance of those Russell 2500® companies with higher price-to-book ratios and higher forecasted growth values.

c. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 4, 2015Dec 4, 2015$3.008000000
Dec 5, 2014Dec 5, 2014$4.122000000
Dec 6, 2013Dec 6, 2013$1.079000000
Dec 6, 2012Dec 6, 2012$1.582000000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 5 Stars640
3-Year 5 Stars640
5-Year 4 Stars574
10-Year 5 Stars428

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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 fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.

Morningstar Stylebox As of Mar 31, 2016
Equity Stylebox
Small Growth
Allocation of Assets As of Dec 31, 2015
Type of Asset Percent
Equity96%
Fixed Income0%
Cash/Other4%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Dec 31, 2015
Asset ClassPercent
Domestic Stock96.5%
Foreign Stock0.0%
Domestic Bond0.0%
Foreign Bond0.0%
Preferred0.0%
Convertible0.0%
Cash3.6%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 
Equity Sector As of Dec 31, 2015
SectorPercent
Industrials28.5%
Technology23.3%
Consumer Cyclical18.2%
Healthcare8.8%
Real Estate8.8%
Financial Services5.4%
Energy3.4%

Exposure reflects equity securities only and will sum to the equity exposure of the fund.

 
Top Ten Holdings As of Dec 31, 2015
Holding NamePercent
Blackbaud Inc5.6%
Sally Beauty Holdings Inc5.5%
j2 Global Inc5.4%
Equity Commonwealth5.2%
Zebra Technologies Corp5.0%
Graco Inc5.0%
MSCI Inc4.8%
Bio-Techne Corp4.6%
DineEquity Inc4.6%
Abiomed Inc4.2%
 

Statistics

Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta0.800.87
Alpha3.661.80
Standard Deviation11.6313.75
 
 

Trading Restrictions

Purchase, Sale, and Transfer Restrictions

 

Fund-to-Fund Transfers involving the Delaware Funds will be limited to reduce excessive trading and its adverse effects on the funds. If you transfer assets out of a Delaware Fund to another investment option, you must wait at least 31 days before transferring assets back into the same fund.

 

Footnotes

1.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® 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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.