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Fund Detail

Ivy Mid Cap Growth Fund
Class E Shares

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Fund Facts 
Ticker Symbol
IMCEX
CUSIP
466001500
Fund Code
421
Fund Type
Domestic Equity Funds
Fund Inception
06/30/2000
Class Inception
04/02/2007
Fiscal Year End
March
Dividends Paid
Annually
Net Assets (as of 06/30/2010)
$261.9 mil
Total Holdings (as of 06/30/2010)
64
Turnover Rate (as of 03/31/2010)
40%
Lipper Category
Mid-Cap Growth
Morningstar Category
Mid-Cap Growth
Benchmark
Russell Mid-Cap Growth

Daily Prices4

Updated 9/8/2010
Net Asset Value (NAV) $13.91
NAV Change ($) $0.10
NAV Change (%) 0.72%
Weekly NAV Change ($) -$0.08
Weekly NAV Change (%) -0.57%
Public Offering Price (POP) $14.76

   Historical Prices & Distributions

   
   

Fund Description
Fund Objective 
To provide growth of your investment.
 
Investment Approach 
We employ a bottom-up approach and may look at a number of factors in consideration of a company, such as: new or innovative products or services, adaptive or creative management, strong financial and operational capabilities to sustain growth, stable and consistent revenue, earnings, and cash flow, market potential and profit potential.
 
  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 12.39% -1.69% N/A N/A 0.04%
Fund with maximum 5.75% sales charge 5.93% -3.61% N/A N/A -1.67%

  Quarterly Rates of Return

  Average Annual Total Returns
  as of 6/30/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 24.37% -2.74% N/A N/A -0.52%
Fund with maximum 5.75% sales charge 17.22% -4.64% N/A N/A -2.32%
Russell Mid-Cap Growth 21.30% -7.53% 1.37% -1.99% -5.09%
Lipper Mid-Cap Growth 20.72% -8.05% 1.07% -1.00% -5.34%

Expense Ratios 
as of 07/31/2010
Net  1.60%
Gross  2.60%

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. Russell Mid-Cap Growth is an unmanaged index comprised of securities that represent the mid cap sector of the stock market. It is not possible to invest directly in an index.

3. Consider All 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.

Ratings & Rankings
Lipper Rankings
as of 06/30/2010
Category: Mid-Cap Growth
  Rank Percentile
1 Year 82/412 20
3 Year 30/365 9

Rankings are based on average annual total returns, but do not consider sales charges.
Morningstar Ratings
as of 06/30/2010
Category: Mid-Cap Growth
Overall   (out of 694 Mid-Cap Growth)
3 Year   (out of 694 Mid-Cap Growth)

Rankings are based on risk-adjusted returns.

Holdings
Portfolio Composition6
(as a % of net assets as of 06/30/2010)
Common Stock 95.0%
Cash 4.0%
Foreign Stock 1.0%
Sector Allocation6
(as a % of equity holdings as of 06/30/2010)
Information Technology 21.6%
Consumer Discretionary 21.2%
Industrials 18.2%
Financials 13.1%
Healthcare 9.0%
Energy 7.6%
Consumer Staples 7.2%
Materials 2.1%
Top 10 Equity Holdings6
(as a % of net assets as of 06/30/2010)
Whole Foods Market, Inc. 3.7%
Fastenal Company 3.2%
Microchip Technology Incorporated 3.0%
NetApp, Inc. 2.7%
Paychex, Inc. 2.5%
Allergan, Inc. 2.4%
CB Richard Ellis Group, Inc., Class A 2.3%
Hospira, Inc. 2.3%
Dresser-Rand Group Inc. 2.2%
Signature Bank 2.2%
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
 Kimberly A. Scott, CFA  Ivy Investment Management Company  23  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.