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Fund Detail

Ivy Money Market Fund
Class A Shares

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Fund Facts
Ticker Symbol WRAXX
CUSIP 466000486
Fund Code 670
Fund Type Fixed Income Funds
Fund Inception 6/30/2000
Class Inception 6/30/2000
Fiscal Year End March
Dividends Paid Daily, Paid Monthly
Fund Assets (as of 3/31/2012) $224.0 mil
Total Holdings (as of 3/31/2012) 80
Lipper Category Money Market Funds
Fund Description
Fund Objective
To provide maximum current income consistent with stability of principal.

Investment Approach
The Fund seeks to achieve its objective by investing in U.S. dollar-denominated, high-quality money market obligations and instruments. The Fund seeks, as well, to maintain a net asset value (NAV) of $1.00 per share.
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. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.
Monthly Rates of Return Average Annual Total Returns
as of 4/30/2012
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 0.01% 0.02% 0.17% 1.19% 1.62% 1.95%
Fund with 5.75% sales charge 0.01% 0.02% 0.17% 1.19% 1.62% 1.95%
Quarterly Rates of Return Average Annual Total Returns
as of 3/31/2012
  YTD 1yr 3yr 5yr 10yr Life
Fund at NAV 0.01% 0.02% 0.20% 1.27% 1.63% 1.96%
Fund with 5.75% sales charge 0.01% 0.02% 0.20% 1.27% 1.63% 1.96%
Lipper Money Market Funds 0.00% 0.02% 0.04% 1.14% 1.53% N/A
Expense Ratios
as of 7/31/2011
Net 0.69%
Gross 0.69%
Annualized 7-Day Yield
as of 5/16/2012
Subsidized 0.02%
Unsubsidized -0.29%
Ratings and Rankings
Lipper Rankings
as of 3/31/2012
Category: Money Market Funds
  Rank Percentile
1 Year 47 / 258 19
3 Year 4 / 244 2
5 Year 63 / 232 28
10 Year 77 / 185 42

Rankings are based on average annual total returns, but do not consider sales charges.
Holdings
Portfolio Composition
(as a % of net assets as of 3/31/2012)
Corporate Bonds 58.20%
Municipal Obligations 38.20%
United States Govt and Govt Agency Obligations 3.30%
Cash and Other Assets, Net of Liabilities 0.30%
Top 10 Holdings
(as a % of net assets as of 4/30/2012)
Baxter International Inc., 0.3%, 5/8/2012 3.7%
Uinta Cnty, WY, Pollutn Ctl Rfdg Rev Bds (Chevron U.S.A. Inc. Proj), Ser 1992 (Chevron Corporation), 0.14%, 7/1/2010Uinta Cnty, WY, Pollutn Ctl Rfdg Rev Bonds (Chevron U.S.A. Inc. Proj), Ser 1992 (GTD by Chevron Corporation), 0.2%, 5/1/2012 3.6%
Kimberly-Clark Corporation, 4.0%, 12/19/2012 3.4%
MS Bus Fin Corp, Gulf Opp Zone Indl Dev Rev Bonds (Chevron U.S.A. Inc. Proj), Ser 2007D (Chevron Corporation), 0.14%, 7/1/2010MS Business Fin Corp, Gulf Opp Zone Indl Dev Rev Bonds (Chevron U.S.A. Inc. Proj), Ser 2007D (GTD by Chevron Corporation), 0.2%, 5/1/2012 3.3%
Toyota Motor Credit Corporation, 0.7%, 12/17/2012 3.3%
BellSouth Corporation (GTD by AT&T Inc.), 3.9%, 4/26/2013 3.3%
Harris Cnty Hosp Dist, Sr Lien Rfdg Rev Bonds, Ser 2010 (GTD by JPMorgan Chase & Co.), 0.3%, 5/3/2012 3.1%
General Electric Capital Corporation, 5.3%, 10/19/2012 3.1%
St. Jude Medical, Inc., 0.2%, 5/1/2012 2.8%
Muni Elec Auth GA, Gen Resolution Proj Bond Anticipation Notes, Ser B (Taxable), (GTD by Wells FargoBank), 0.2%, 5/2/2012 2.8%
Total Portfolio Holdings
(updated monthly, upon availability)

View | Download (as of 4/30/2012)

Periods prior to the listed as of date are available after clicking the view link.

Maturity
(as of 4/30/2012)
Weighted Average Maturity 48.11 days
Weighted Average Life Maturity 69.82 days
Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
Mira Stevovich is Vice President of IICO and WRIMCO, Vice President and Assistant Treasurer of Ivy Funds and Vice President and Assistant Treasurer of other investment companies for which IICO and WRIMCO serve as investment manager. Ms. Stevovich has served as the Portfolio Manager for investment companies managed by WRIMCO since May 1998 and has been an employee of WRIMCO and its predecessor since March 1987. Ms. Stevovich earned a BA degree from Colorado Womens College. She holds an MA degree in Soviet and East European Studies and an MBA degree from the University of Kansas. Ms. Stevovich is a Chartered Financial Analyst.Mira Stevovich, CFA Ivy Investment Management Company 25 11

Risk Factors: Investing in mid-cap stocks may carry more risk than investing in stocks of larger more well-established companies. 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.

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.

Information is subject to change and is not intended to represent any past or future investment recommendations.