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Fund Detail

Ivy Limited-Term Bond Fund
Class E Shares

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Fund Facts 
Ticker Symbol
IVLEX
CUSIP
466001302
Fund Code
403
Fund Type
Fixed Income Funds
Fund Inception
09/21/1992
Class Inception
07/31/2009
Fiscal Year End
March
Dividends Paid
Daily, Paid Monthly
Net Assets (as of 06/30/2010)
$1.1 bil
Total Holdings (as of 06/30/2010)
167
Turnover Rate (as of 03/31/2010)
33%
Lipper Category
Short-Inter Inv Grade Debt
Morningstar Category
Short-term Bond
Benchmark
Citigroup Govt/Credit 1-5 Yr

Daily Prices

Updated 9/8/2010
Net Asset Value (NAV) $11.26
NAV Change ($) -$0.01
NAV Change (%) -0.09%
Weekly NAV Change ($) $0.01
Weekly NAV Change (%) 0.09%
Public Offering Price (POP) $11.55

   Historical Prices & Distributions

   
   

Fund Description
Fund Objective 
To provide a high level of current income consistent with preservation of capital.
 
Investment Approach 
The Fund seeks attractive total returns with less volatility than the broad market indexes. We may look at a number of factors in selecting securities for the Fund's portfolio, beginning with a review of the broad economic and financial trends in the U.S. and world markets. This process aids in the determination of economic fundamentals, which leads to sector allocation. Within a sector, we typically consider a security's current coupon, maturity and relative value along with the creditworthiness of the particular issuer.
 
  Morningstar Style Box

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.

  Monthly Rates of Return

  Average Annual Total Returns
  as of 8/31/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 5.38% 7.03% N/A N/A 6.65%
Fund with maximum 2.50% sales charge 2.74% 6.13% N/A N/A 5.86%

  Quarterly Rates of Return

  Average Annual Total Returns
  as of 6/30/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 5.90% 7.16% N/A N/A 6.52%
Fund with maximum 2.50% sales charge 3.26% 6.26% N/A N/A 5.69%
Citigroup Govt/Credit 1-5 Yr 5.60% 6.11% 4.99% 5.42% 5.75%
Lipper Short-Inter Inv Grade Debt 9.57% 5.52% 4.28% 5.13% 5.01%

Expense Ratios 
as of 07/31/2010
Net  0.98%
Gross  0.98%
12-Month Trailing Distribution Yield 
as of 7/31/2010
NAV  2.70%
with sales charge  2.63%
30-Day SEC Yield 
as of 7/31/2010
with sales charge  1.24%

Growth of a $10,000 Investment
through 06/30/2010

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 & Rankings
Lipper Rankings
as of 06/30/2010
Category: Short-Inter Inv Grade Debt
  Rank Percentile
1 Year 140/150 93
3 Year 28/140 20

Rankings are based on average annual total returns, but do not consider sales charges.
Morningstar Ratings
as of 06/30/2010
Category: Short-term Bond
Overall   (out of 398 Short-term Bond)
3 Year   (out of 398 Short-term Bond)

Rankings are based on risk-adjusted returns.

Holdings
Portfolio Composition
(as a % of net assets as of 06/30/2010)
Government Bonds 48.0%
Corporate Bonds 46.0%
Cash 4.0%
Municipal Bonds 2.0%
Maturity
(as of 06/30/2010)
<1 Year 10.1%
1-5 Years 80.5%
6-10 Years 8.4%
11-20 Years 1.0%
>20 Years 0.0%
Average Maturity 3.23 years
Top 10 Holdings
(as a % of net assets as of 06/30/2010)
United States Treasury Notes, 2.50%, 4/30/2015 3.4%
United States Treasury Notes, 3.50%, 5/15/2020 3.0%
United States Treasury Notes, 2.13%, 5/31/2015 2.4%
United States Treasury Notes, 1.75%, 3/31/2014 1.9%
United States Treasury Notes, 1.50%, 12/31/2013 1.9%
United States Treasury Notes, 1.00%, 4/30/2012 1.9%
Federal National Mortgage Association, 3.00%, 6/30/2015 1.8%
Federal Home Loan Bank, 1.75%, 12/14/2012 1.5%
Federal National Mortgage Association Agency REMIC/CMO, 4.50%, 6/25/2040 1.2%
United States Treasury Notes, 4.25%, 8/15/2013 1.2%
Total Portfolio Holdings
(updated quarterly, upon availability)
 
View | Download (as of 06/30/2010)
Quality Breakdown
(as of 06/30/2010)
Gov't 50.9%
AAA 4.1%
AA 9.0%
A 15.5%
BBB 20.1%
BB 0.3%
B 0.0%
Below B 0.0%
Non-Rated 0.0%
Effective Duration 2.88 years

Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
 Mark Otterstrom, CFA  Ivy Investment Management Company  24  1