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Fund Detail

Ivy Bond Fund
Class E Shares

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Fund Facts 
Ticker Symbol
IVBEX
CUSIP
465898138
Fund Code
446
Fund Type
Fixed Income Funds
Fund Inception
08/14/1987
Class Inception
04/02/2007
Fiscal Year End
March
Dividends Paid
Daily, Paid Monthly
Net Assets (as of 06/30/2010)
$237.7 mil
Total Holdings (as of 06/30/2010)
283
Turnover Rate (as of 03/31/2010)
41%
Lipper Category
Corporate - Debt A-Rated
Morningstar Category
Intermediate-term Bond
Benchmark
Citigroup BIG

Daily Prices5

Updated 9/8/2010
Net Asset Value (NAV) $10.22
NAV Change ($) -$0.03
NAV Change (%) -0.29%
Weekly NAV Change ($) $0.02
Weekly NAV Change (%) 0.20%
Public Offering Price (POP) $10.84

   Historical Prices & Distributions

   
   

Fund Description
Fund Objective 
To provide a high level of current income consistent with prudent investment risk.
 
Investment Approach 
The Fund utilizes a bottom-up, fundamental approach. Capitalizing on the portfolio management team's experience in the fixed income market, the managers focus on security selection and sector allocation. The managers also focus on relative value trading among fixed-income securities, and consider factors such as industry outlook, current and anticipated market and economic conditions, general levels of debt prices, and issuer operations.
 
  Morningstar Style Box6

Returns and Expenses1, 2, 3, 4
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 13.09% 4.13% N/A N/A 3.40%
Fund with maximum 5.75% sales charge 6.59% 2.10% N/A N/A 1.62%

  Quarterly Rates of Return

  Average Annual Total Returns
  as of 6/30/2010
  1yr 3yr 5yr 10yr Lifetime
Fund at NAV 14.66% 3.21% N/A N/A 2.71%
Fund with maximum 5.75% sales charge 8.06% 1.19% N/A N/A 0.85%
Citigroup BIG 9.03% 7.95% 5.77% 6.61% 7.12%
Lipper Corporate - Debt A-Rated 13.45% 5.75% 4.25% 5.69% 5.03%

Expense Ratios 
as of 07/31/2010
Net  1.21%
Gross  1.68%
12-Month Trailing Distribution Yield 
as of 7/31/2010
NAV  3.21%
with sales charge  3.03%
30-Day SEC Yield 
as of 7/31/2010
with sales charge  2.40%

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. The Advantus Bond Fund merged into the Ivy Bond Fund on Dec. 8, 2003. The performance shown for periods prior to this date is that of the Advantus Bond Fund Class A shares, restated to reflect current sales charges applicable to Ivy Bond Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy Bond Fund. If these expenses were reflected, performance shown would differ.

3. Citigroup Broad Investment Grade is an unmanaged index comprised of securities that represent the bond market. It is not possible to invest directly in an index.

4. Consider All Factors. Fixed income securities are subject to interest rate risk and, as such, the net asset value of the fund may fall as interest rates rise. As with any mutual 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 a bank deposit and is not insured or guaranteed by the FDIC or any other government agency. These and other risks are more fully described in the Fund's prospectus.

Ratings & Rankings
Lipper Rankings
as of 06/30/2010
Category: Corporate - Debt A-Rated
  Rank Percentile
1 Year 36/134 27
3 Year 101/127 79

Rankings are based on average annual total returns, but do not consider sales charges.
Morningstar Ratings
as of 06/30/2010
Category: Intermediate-term Bond
Overall   (out of 1011 Intermediate-term Bond)
3 Year   (out of 1011 Intermediate-term Bond)

Rankings are based on risk-adjusted returns.

Holdings
Portfolio Composition7
(as a % of net assets as of 06/30/2010)
Corporate Bonds 49.0%
Government Bonds 47.0%
Cash 5.0%
Maturity7
(as of 06/30/2010)
<1 Year 8.6%
1-5 Years 56.3%
6-10 Years 25.8%
11-20 Years 1.4%
>20 Years 7.9%
Average Maturity 6.33 years
Top 10 Holdings7
(as a % of net assets as of 06/30/2010)
United States Treasury Bonds, 4.63%, 2/15/2040 5.4%
United States Treasury Notes, 1.88%, 6/30/2015 5.3%
United States Treasury Notes, 0.63%, 6/30/2012 4.0%
United States Treasury Notes, 3.50%, 5/15/2020 3.4%
Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage P 2.4%
Federal National Mortgage Association, 0.88%, 1/12/2012 1.9%
Province of Ontario, 2.70%, 6/16/2015 1.4%
Federal National Mortgage Association Fixed Rate Pass-Through Certificates, 1.2%
United States Treasury Notes, 1.13%, 6/15/2013 1.1%
Federal National Mortgage Association Fixed Rate Pass-Through Certificates, 1.1%
Total Portfolio Holdings
(updated quarterly, upon availability)
 
View | Download (as of 06/30/2010)
Quality Breakdown7
(as of 06/30/2010)
Gov't 49.0%
AAA 12.3%
AA 4.9%
A 9.2%
BBB 16.8%
BB 5.3%
B 1.3%
Below B 0.4%
Non-Rated 0.7%
Effective Duration 4.44 years

Portfolio Management
Manager Name Company Name Years in Industry Years with Fund
 Thomas Houghton, CFA  Advantus Capital Mgmt, Inc. (subadvisor)  15  5
 David Land, CFA  Advantus Capital Mgmt, Inc. (subadvisor)  18  5
 Chris Sebald, CFA  Advantus Capital Mgmt, Inc. (subadvisor)  20  6

5. 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.

6. The style box reveals a fund's investment strategy by displaying the average credit quality of the bonds owned and the interest rate sensitivity, as measured by a bond's maturity.

7. 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.