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Fund Detail

Ivy Science and Technology Fund
Class E Shares

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Fund Facts 
Ticker Symbol
ISTEX
CUSIP
466001708
Fund Code
408
Fund Type
Specialty Funds
Fund Inception
07/31/1997
Class Inception
04/02/2007
Fiscal Year End
March
Dividends Paid
Annually
Net Assets (as of 06/30/2010)
$1.0 bil
Total Holdings (as of 06/30/2010)
65
Turnover Rate (as of 03/31/2010)
53%
Lipper Category
Science & Technology
Morningstar Category
Specialty-Technology
Benchmark
S&P North American Technology Sector

Daily Prices4

Updated 9/8/2010
Net Asset Value (NAV) $27.58
NAV Change ($) $0.10
NAV Change (%) 0.36%
Weekly NAV Change ($) -$0.25
Weekly NAV Change (%) -0.90%
Public Offering Price (POP) $29.26

   Historical Prices & Distributions

   
   

Fund Description
Fund Objective 
To provide long-term capital growth.
 
Investment Approach 
We typically emphasize growth potential in selecting stocks; that is, we seek companies in which earnings are likely to grow faster than the economy. We aim to identify strong secular trends within industries and then apply a bottom-up stock selection process by considering a number of factors in selecting securities, including growth and earnings potential, quality of management, industry/market size potential, and applicable market and economic conditions.
 
  Morningstar Style Box5

Returns and Expenses1, 2, 3
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 1.24% -0.52% N/A N/A 2.22%
Fund with maximum 5.75% sales charge -4.58% -2.47% N/A N/A 0.46%

  Quarterly Rates of Return

  Average Annual Total Returns
  as of 6/30/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 10.29% -0.22% N/A N/A 2.08%
Fund with maximum 5.75% sales charge 3.94% -2.17% N/A N/A 0.24%
S&P North American Technology Sector 15.84% -4.26% 3.06% -8.11% -0.97%
Lipper Science & Technology 17.92% -5.61% 2.03% -8.77% -2.74%

Expense Ratios 
as of 07/31/2010
Net  1.43%
Gross  2.56%

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.

1. Class E shares are subject to an initial sales charge of 5.75 percent when purchased for your InvestEd Plan account; it also features a step down structure of lowering the initial sales charge based on the amount of your investment.

2. S&P North Ameri Tech Sector is an unmanaged index comprised of securities that represent the technology sector of the stock market. It is not possible to invest directly in an index.

3. Consider All Factors. As with any fund, the value of the Fund's shares will change, and you could lose money on your investment. An investment in the Fund is not insured or guaranteed by the FDIC or any other government agency. Investing in companies involved in one specified sector may be more risky and volatile than an investment with greater diversification. These and other risks are more fully described in the fund's prospectus.

Ratings & Rankings
Lipper Rankings
as of 06/30/2010
Category: Science & Technology
  Rank Percentile
1 Year 113/132 85
3 Year 17/129 14

Rankings are based on average annual total returns, but do not consider sales charges.
Morningstar Ratings
as of 06/30/2010
Category: Specialty-Technology
Overall   (out of 186 Specialty-Technology)
3 Year   (out of 186 Specialty-Technology)

Rankings are based on risk-adjusted returns.

Holdings
Portfolio Composition6
(as a % of net assets as of 06/30/2010)
Common Stock 79.0%
Foreign Stock 15.0%
Cash 5.0%
Corporate Bonds 1.0%
Preferred Stock 1.0%
Sector Allocation6
(as a % of equity holdings as of 06/30/2010)
Information Technology 66.5%
Healthcare 13.4%
Industrials 8.8%
Consumer Staples 5.6%
Telecommunication Services 3.3%
Materials 1.4%
Financials 1.0%
Top 10 Equity Holdings6
(as a % of net assets as of 06/30/2010)
Apple Inc. 5.4%
Alliance Data Systems Corporation 5.2%
Cree, Inc. 5.0%
Aspen Technology, Inc. 4.5%
Microsoft Corporation 4.4%
Texas Instruments Incorporated 3.1%
ACI Worldwide, Inc. 3.1%
Vertex Pharmaceuticals Incorporated 3.0%
Lawson Software, Inc. 3.0%
Genzyme Corporation 3.0%
Total Portfolio Holdings
(updated quarterly, upon availability)
 
View | Download (as of 06/30/2010)
Quality Breakdown
(as of 06/30/2010)
Gov't 0.0%
AAA 0.0%
AA 0.0%
A 0.0%
BBB 0.0%
BB 0.0%
B 0.0%
Below B 0.0%
Non-Rated 0.0%
Effective Duration years

Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
 Zachary H. Shafran  Ivy Investment Management Company  22  9

4. Per share values based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time. Ivy Funds Class A and Class Y shares are subject to distribution and service fees of up to 0.25% of the average daily net assets, annually, pursuant to SEC Rule 12b-1, while Class B and Class C shares are subject to distribution and service fees of up to 1.00% of the average daily net assets, annually, pursuant to SEC Rule 12b-1. Class Y shares may be purchased only by certain institutional investors set forth in each fund's prospectus.

5. The style box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.

6. Information is subject to change and is not intended to represent any past or future investment recommendations. Quality ratings obtained from Standard & Poor's. For securities not rated by Standard & Poor's, ratings obtained from Moody's.