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Summary

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.

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Prices & Returns
POP as of 12/13/2018
Average Annual Total Returns
POP as of 11/30/2018
Expense
Ratios
IATAX Ivy Accumulative Fund 1 2 $9.51 ($1.19) -3.76% 1.91% 5.31% 7.49% 11.62% 10.13% 10/9/1940 1.10% 1.10%
IMAAX Ivy Apollo Multi-Asset Income Fund 3 4 $10.64 ($0.57) -7.58% -5.80% 2.85% 3.31% 10/1/2015 1.25% 1.25%
IAPOX Ivy Apollo Strategic Income Fund 5 6 $10.25 ($0.13) -5.62% -5.40% 1.48% 1.25% 10/1/2015 1.16% 1.18%
WASAX Ivy Asset Strategy Fund 7 8 $20.72 ($0.13) -8.02% -4.61% 0.83% -1.04% 5.98% 6.45% 7/10/2000 1.13% 1.13%
IBNAX Ivy Balanced Fund 9 10 11 $23.59 ($2.38) -6.18% -2.27% 2.44% 3.59% 8.41% 7.43% 11/16/1987 1.11% 1.11%
IMHAX Ivy California Municipal High Income Fund 12 $10.35 ($0.01) -4.87% -4.27% 0.05% 10/3/2016 0.80% 1.12%
IAAXX Ivy Cash Management Fund 13 14 $1.00 $0.00 1.29% 1.30% 0.56% 0.35% 0.28% 4.44% 8/23/1979 0.73% 0.73%
WCEAX Ivy Core Equity Fund 15 16 $13.40 ($2.03) -5.68% -0.93% 6.32% 6.50% 12.07% 4.68% 7/3/2000 1.03% 1.03%
IBJAX Ivy Corporate Bond Fund 17 18 $6.28 ($0.04) -8.21% -8.45% -0.72% 0.30% 2.72% 6.21% 3/30/1964 0.98% 0.98%
ICKAX Ivy Crossover Credit Fund 19 $9.94 ($0.08) -10.06% -9.66% -3.87% 4/3/2017 0.90% 0.95%
IPOAX Ivy Emerging Markets Equity Fund 20 21 22 23 $18.20 ($0.08) -22.79% -19.96% 5.52% 2.24% 8.71% 3.98% 10/25/1993 1.44% 1.44%
IEYAX Ivy Energy Fund 25 26 $9.61 ($0.09) -31.05% -19.51% -8.61% -9.37% 1.45% -0.57% 4/3/2006 1.41% 1.51%
IVSAX Ivy Global Bond Fund 28 29 $9.97 ($0.08) -6.53% -6.84% 1.15% 0.27% 2.99% 2.10% 4/4/2008 0.99% 1.23%
IBIAX Ivy Global Equity Income Fund 30 31 $11.86 ($1.63) -12.13% -8.92% 3.00% 3.04% 7.68% 6/4/2012 1.24% 1.26%
IVINX Ivy Global Growth Fund 32 33 $42.64 ($4.68) -6.89% -2.96% 4.35% 4.11% 9.33% 7.66% 4/30/1986 1.36% 1.36%
WRAXX Ivy Government Money Market Fund 37 $1.00 $0.00 1.17% 1.19% 0.49% 0.30% 0.26% 1.33% 6/30/2000 0.66% 0.66%
IGJAX Ivy Government Securities Fund 38 39 $5.50 $0.00 -5.09% -5.58% -1.43% -0.37% 1.03% 5.65% 4/10/1984 1.00% 1.07%
WHIAX Ivy High Income Fund 23 40 41 $7.53 ($0.01) -5.74% -4.87% 4.42% 2.31% 10.36% 6.83% 7/3/2000 0.95% 0.95%
IVJAX Ivy IG International Small Cap Fund 42 $11.02 ($0.13) -22.09% -17.25% 1.72% 1/10/2017 1.45% 1.61%
IVIAX Ivy International Core Equity Fund 23 44 45 $16.75 ($0.15) -19.72% -15.83% 0.23% 0.93% 8.11% 4.51% 5/13/1997 1.25% 1.25%
WLGAX Ivy Large Cap Growth Fund 46 47 48 $21.90 ($0.10) 1.24% 5.26% 10.33% 10.87% 13.56% 6.68% 6/30/2000 1.12% 1.12%
IREAX Ivy LaSalle Global Real Estate Fund 49 50 $10.92 ($0.07) -5.63% -3.49% 1.78% 3.77% 2.59% 4/1/2013 1.51% 1.79%
WLTAX Ivy Limited-Term Bond Fund 52 $10.87 $0.01 -2.41% -2.42% 0.25% 0.43% 1.88% 3.05% 8/17/2000 0.89% 0.89%
IVTAX Ivy Managed International Opportunities Fund 20 53 54 55 $10.97 $0.02 -18.07% -14.49% 1.15% 1.24% 6.90% 1.79% 4/2/2007 1.35% 1.35%
WMGAX Ivy Mid Cap Growth Fund 57 58 $23.29 ($2.39) -0.93% 4.61% 10.90% 7.63% 15.05% 7.30% 6/30/2000 1.30% 1.30%
IVOAX Ivy Mid Cap Income Opportunities Fund 59 $14.16 ($0.47) -4.78% 0.25% 9.67% 8.88% 10/1/2014 1.35% 1.40%
WMBAX Ivy Municipal Bond Fund 61 62 63 $12.06 ($0.01) -3.78% -3.38% 0.11% 1.87% 4.21% 3.85% 9/15/2000 0.84% 0.90%
IYIAX Ivy Municipal High Income Fund 64 65 $5.18 $0.00 -2.94% -2.48% 0.80% 3.56% 5.90% 5/18/2009 0.87% 0.87%
IGNAX Ivy Natural Resources Fund 36 $13.52 ($0.04) -23.44% -14.52% -3.15% -6.73% 2.20% 4.88% 1/2/1997 1.64% 1.64%
IECAX Ivy Pictet Emerging Markets Local Currency Debt Fund 24 $8.79 ($0.01) -16.02% -14.18% -0.73% -4.28% 4/30/2014 1.25% 1.57%
IRBAX Ivy Pictet Targeted Return Bond Fund 86 87 $10.11 ($0.47) -5.84% -6.46% -1.19% 1/4/2016 1.24% 1.41%
IPNAX Ivy PineBridge High Yield Fund 66 $9.93 ($0.08) -7.10% -7.10% -2.93% 5/18/2017 1.00% 1.00%
IAIRX Ivy ProShares Interest Rate Hedged High Yield Index Fund 43 $9.66 ($0.20) -1.46% -0.93% 0.93% 4/20/2017 0.90% 1.00%
IMWAX Ivy Proshares MSCI ACWI Index Fund 60 $10.95 ($0.07) -7.84% -3.74% 5.79% 4/20/2017 0.90% 1.31%
IRUAX Ivy ProShares Russell 2000 Dividend Growers Index Fund 68 $10.71 ($0.21) 1.26% 0.36% 4.98% 4/20/2017 0.90% 1.05%
IAPRX Ivy ProShares S&P 500 Bond Index Fund 69 $9.66 ($0.05) -6.47% -6.57% -3.19% 4/20/2017 0.65% 0.66%
IDAAX Ivy ProShares S&P 500 Dividend Aristocrats Index Fund 70 $11.51 ($0.18) -1.45% 4.30% 10.52% 4/20/2017 0.75% 0.86%
ICDAX Ivy Pzena International Value Fund 67 $15.42 ($1.94) -17.67% -13.80% 1.53% -1.90% 5.98% 4.30% 9/4/2001 1.54% 1.75%
WSTAX Ivy Science and Technology Fund 71 72 $59.84 ($8.05) -5.33% -2.76% 9.01% 7.24% 15.30% 7.20% 7/3/2000 1.21% 1.21%
IBOAX Ivy Securian Core Bond Fund 73 74 75 76 $10.94 $0.00 -7.26% -7.08% 0.20% 1.24% 4.22% 5.25% 8/14/1987 1.04% 1.07%
IRSAX Ivy Securian Real Estate Securities Fund 77 78 79 $24.14 ($1.24) -5.13% -3.82% 2.48% 7.51% 12.29% 9.38% 2/25/1999 1.42% 1.52%
IYSAX Ivy Small Cap Core Fund 23 80 81 82 $16.45 ($2.66) -11.30% -4.75% 10.19% 7.62% 12.34% 8.83% 1/31/1997 1.46% 1.46%
WSGAX Ivy Small Cap Growth Fund 23 83 84 85 $16.38 ($0.33) -4.65% 3.20% 10.85% 8.40% 16.29% 6.71% 7/3/2000 1.34% 1.34%
IYVAX Ivy Value Fund 90 91 92 $22.80 ($1.36) -9.10% -2.37% 5.30% 5.45% 11.05% 6.72% 9/16/1994 1.21% 1.21%
IWGAX Ivy Wilshire Global Allocation Fund 93 94 95 $8.57 $0.00 -10.91% -7.89% -0.04% -1.57% 5.68% 8.02% 3/9/1995 1.15% 1.19%

1 Fee Waiver and/or Expense Reimbursement: Through October 31, 2020, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows Class B shares at 2.29%, Class C shares at 2.06% and Class I shares at 0.87%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of the Ivy Trust (the Ivy Trust Board).

Through October 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Ivy Trust Board.

2 Waddell & Reed Advisors (WRA) Accumulative Fund merged into Ivy Accumulative Fund on Feb. 26, 2018. The returns shown prior to this date reflect the performance of WRA Accumulative Fund, which was incepted on October 9, 1940. Ivy Accumulative Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Accumulative Fund.

3 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class A shares at 1.30%, Class C shares at 2.17% and Class Y shares at 1.25%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board).

Fee Waiver and/or Expense Reimbursement: Through January 31, 2020, IICO, the Fund’s investment manager, IDI, the Fund’s distributor, and/or WISC, the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class I shares and Class N shares at 0.75%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

4 Joseph Moroney, CFA, and Christopher J. Parker, CFA, were added as co-portfolio managers on Ivy Apollo Multi-Asset Income Fund effective April 2018.

5 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class A shares at 1.15%, Class C shares at 1.85%, and Class Y shares at 1.10%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board).

Fee Waiver and/or Expense Reimbursement: Through January 31, 2020, IICO, the Fund’s investment manager, IDI, the Fund’s distributor, and/or WISC, the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class I shares and Class N shares at 0.67%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

6 Joseph Moroney, CFA, was named a co-portfolio manager on Ivy Apollo Strategic Income Fund on April 30, 2018.

7 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.00%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

8 Ivy Global Income Allocation Fund merged into Ivy Asset Strategy Fund on Nov. 5, 2018.

9 The Advantus Spectrum Fund merged into the Ivy Balanced Fund on 12/8/03. The performance shown for periods prior to this date is that of the Advantus Spectrum Fund Class A shares, restated to reflect current sales charges applicable to Ivy Balanced Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy Balanced Fund. If these expenses were reflected, performance shown would differ.

10 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

11 Waddell & Reed Advisors Continental Income Fund merged into Ivy Balanced Fund on Feb. 26, 2018.

12 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for Class A shares at 0.80% and Class I shares at 0.60%. Prior to that date, the expense limitation may not be terminated by IICO, IDI, WISC or the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the prospectus for more information.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated by IDI, WISC or the Board. See the prospectus for more information.

13 You could lose money by investing in the Ivy Cash Management Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

14 Waddell & Reed Advisors (WRA) Cash Management Fund merged into Ivy Cash Management Fund on Feb. 26, 2018. The returns shown prior to this date reflect the performance of WRA Cash Management Fund, which was incepted on Aug. 23, 1979. Ivy Cash Management Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Cash Management Fund.

15 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.10%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.04%; Class B shares at 2.13%; and Class I shares and Class Y shares at 0.84%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

16 Waddell & Reed Advisors Core Investment Fund merged into Ivy Core Equity Fund on Oct. 16, 2017.

17 Waddell & Reed Advisors (WRA) Bond Fund merged into Ivy Bond Fund on Oct. 16, 2017, since renamed the Ivy Corporate Bond Fund on April 30, 2018.. The returns shown prior to this date reflect the performance of WRA Bond Fund, which was incepted on March 30, 1964. Ivy Corporate Bond Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Bond Fund. Prior to the reorganization, the Ivy Corporate Bond Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Bond Fund's investment strategies. WRA Bond Fund's past performance does not necessarily indicate how Ivy Corporate Bond Fund will perform in the future.

18 Effective Apr. 30, 2018, Ivy Bond was renamed Ivy Corporate Bond.

19 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) for the Fund's Class A shares at 0.90%, Class I shares at 0.65%, Class R shares at 1.40%, Class N shares at 0.65%, Class Y shares at 0.90%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

20 Effective February 11, 2014, the name of one of the Fund's underlying funds, Ivy Pacific Opportunities Fund, was changed to Ivy Emerging Markets Equity Fund and its strategy was changed to reflect a concentration in emerging market equity securities. Performance prior to such time in part reflects the Ivy Pacific Opportunities Fund's former strategy to invest primarily in Pacific region equity securities, and the Fund's performance may have differed if the Ivy Emerging Markets Equity Fund's current strategy had been in place.

21 On March 17, 2014, Ivy Asset Strategy New Opportunities Fund merged into Ivy Emerging Markets Equity Fund. The Ivy Asset Strategy New Opportunities Fund has been liquidated and has terminated operations as a management investment company.

22 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.58%; Class B shares at 2.50%; and Class I shares and Class N shares at 0.99%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class T shares and Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

23 Class T shares were launched on July 5, 2017.

24 The Ivy Emerging Markets Local Currency Debt Fund was renamed Ivy Pictet Emerging Markets Local Currency Debt Fund on April 3, 2017.

25 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.41%; Class B shares at 2.29%; Class C shares at 2.11%; and Class I shares at 0.99%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

26 Waddell & Reed Advisors Energy Fund merged into Ivy Energy Fund on Oct. 16, 2017.

28 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares and Class Y shares at 0.99%; Class B shares and Class C shares at 1.74%; and Class I shares and Class N shares at 0.74%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

29 Waddell & Reed Advisors Global Bond Fund merged into Ivy Global Bond Fund on Oct. 16, 2017.

30 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.24%; Class B shares at 1.95%; Class E shares at 1.13%; Class I shares at 0.92%; and Class Y shares at 1.19%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

31 Ivy Dividend Opportunities Fund merged into Ivy Global Equity Income Fund on Feb. 26, 2018.

32 Waddell & Reed Advisors Global Growth Fund merged into Ivy Global Growth Fund on Feb. 26, 2018.

33 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 2.58%; and Class I shares at 1.06%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

36 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.27%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

37 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IICO, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 0.56%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

38 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.00%, Class B shares at 2.13%, Class C shares at 1.88% and Class I shares at 0.72%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

39 Waddell & Reed Advisors (WRA) Government Securities Fund merged into Ivy Government Securities Fund on Oct. 16, 2017. The returns shown prior to this date reflect the performance of WRA Government Securities Fund, which was incepted on April 10, 1984. Ivy Government Securities Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Government Securities Fund. Prior to the reorganization, the Ivy Government Securities Fund had no assets and had not commenced operations. Performance shown after Jan. 31, 2012, may significantly differ from prior performance due to changes made on that date to WRA Government Securities Fund's investment strategies. WRA Government Securities Fund's past performance does not necessarily indicate how Ivy Government Securities Fund will perform in the future.

40 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.08%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 1.71%; and Class C shares at 1.66%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class T shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

41 Waddell & Reed Advisors High Income Fund merged into Ivy High Income Fund on Feb. 26, 2018.

42 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.45%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2020, IICO, the Fund’s investment manager, IDI, the Fund’s distributor, and/or WISC, the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class I shares and Class N shares at 0.99%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

43 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A at 0.90% and Class I shares at 0.65%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the Fund's prospectus for more information.

44 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.28%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class T shares and Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class I shares at 0.79%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

45 Ivy European Opportunities Fund merged into Ivy International Core Equity Fund on Nov. 5, 2018.

46 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares and Class E shares at 1.15%; and Class Y shares at 1.06%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 2.05%; and Class I shares and Class N shares at 0.69%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

47 Waddell & Reed Advisors Vanguard Fund merged into Ivy Large Cap Growth Fund on Feb. 26, 2018.

48 Ivy Tax-Managed Equity Fund merged into Ivy Large Cap Growth Fund on Nov. 5, 2018.

49 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.51%; and Class I shares and Class N shares at 1.05%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares and the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class A shares and the Class I shares, respectively, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

50 Ivy LaSalle Global Risk-Managed Real Estate Fund merged into Ivy LaSalle Global Real Estate Fund on Nov. 5, 2018.

52 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 0.95%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

53 On March 17, 2014, Ivy Managed European/Pacific Fund merged into Ivy Managed International Opportunities Fund. The Ivy Managed European/Pacific Fund has been liquidated and has terminated operations as a management investment company.

54 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.49%; Class B shares at 1.40%; Class C shares at 1.29%; Class I shares at 0.16%; Class R shares at 0.72%; and Class Y shares at 0.38%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares and the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class A shares and the Class I shares, respectively, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

55 Effective July 31, 2018, the Fund may invest its assets in three additional underlying funds with the following target allocation ranges: Ivy IG International Small Cap Fund 0-60%, Ivy Global Equity Income Fund 0-60% and Ivy Pzena International Value Fund 0-60%.

57 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.31%; and Class E shares at 1.28%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 2.09%; and Class I shares and Class N shares at 0.79%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

58 Waddell & Reed Advisors WRA New Concepts Fund merged into Ivy Mid Cap Growth Fund on Feb. 26, 2018.

59 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares and Class Y shares at 1.35%; Class C shares at 2.07%; Class E shares at 1.30%; Class I shares and Class N shares at 1.05%; and Class R shares at 1.80%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

60 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) for Ivy ProShares MSCI ACWI Index Fund as follows: Class A shares at 0.90% and Class I and Class N shares at 0.65%. Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the Fund's prospectus for more information.

61 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.84%; and Class I shares at 0.70%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class I shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

62 Waddell & Reed Advisors Municipal Bond Fund merged into Ivy Municipal Bond Fund on Oct. 16, 2017.

63 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.84%; and Class I shares at 0.70%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class I shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

64 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class Y shares at 0.94%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 1.62%; Class C shares at 1.58%; and Class I shares at 0.61%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class N shares do not exceed the total annual ordinary fund operating expenses of the Class I shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

65 Waddell & Reed Advisors Municipal High Income Fund merged into Ivy Municipal High Income Fund on Feb. 26, 2018.

66 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) Fund's Class A shares at 1.00%, Class I and N shares at 0.72%, Class R shares at 1.47%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

67 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, has contractually agreed to reduce the management fee paid by the Fund by an annual rate of 0.21% of average daily net assets. Prior to that date, the reduction may not be terminated by IICO or the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent , have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

68 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.90%; and Class I shares and Class N shares at 0.65%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 0.73%. Prior to that date, the expense limitation may not be terminated without the consent of the Board. Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes.

69 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.65% and Class I shares at 0.40%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the Fund's prospectus for more information.

70 Fee Waiver and/or Expense Reimbursement:Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 0.75% and Class I and Class N shares at 0.50%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes. See the Fund's prospectus for more information.

71 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.30%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020 IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 2.03%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

72 Waddell & Reed Advisors Science and Technology Fund merged into Ivy Science and Technology Fund on Feb. 26, 2018.

73 The Advantus Bond Fund merged into the Ivy Bond Fund on 12/8/03. 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.

74 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.01%; and Class I shares and Class N shares at 0.54%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Due to a separate contractual class waiver, certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes.

75 Effective Apr. 30, 2018, Ivy Advantus Bond Fund was renamed Ivy Securian Core Bond Fund.

77 The Advantus Real Estate Securities Fund merged into the Ivy Real Estate Securities Fund on 12/8/03. The performance shown for periods prior to this date is that of the Advantus Real Estate Securities Fund Class A shares, restated to reflect current sales charges applicable to Ivy Real Estate Securities Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy Real Estate Securities Fund. If these expenses were reflected, performance shown would differ.

78 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, has contractually agreed to reduce the management fee paid by the Fund by an annual rate of 0.10% of average daily net assets. Prior to that date, the reduction may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IICO, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.42%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

79 Effective April 30, 2018, the name of Ivy Advantus Real Estate Securities Fund changed to Ivy Securian Real Estate Securities Fund.

80 The Advantus Venture Fund merged into the Ivy Small Cap Value Fund on 12/8/03. The performance shown for periods prior to this date is that of the Advantus Venture Fund Class A shares, restated to reflect current sales charges applicable to Ivy Small Cap Value Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy Small Cap Value Fund. If these expenses were reflected, performance shown would differ.

81 Prior to March 3, 2017, the Ivy Small Cap Core Fund was known as the Ivy Small Cap Value Fund and its benchmark was the Russell 2000 Value Index. The Fund’s benchmark is now the Russell 2000 Index. These changes were made to more closely align with the Fund’s investment objectives.

82 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class I shares and Class N shares at 0.89%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class T shares and Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

83 Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class E shares at 1.35%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IICO, IDI and/or WISC have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class B shares at 2.23%; and Class I shares and Class N shares at 0.89%. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class T shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

84 Waddell & Reed Advisors Small Cap Fund merged into Ivy Small Cap Growth Fund on Feb. 26, 2018.

85 Ivy Micro Cap Growth Fund merged into Ivy Small Cap Growth Fund on Nov. 5, 2018.

86 Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any) for the Fund’s Class A shares at 1.38%; Class C shares at 2.08%; Class I shares at 1.00%; Class N shares at 0.87%; and Class Y shares at 1.25%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees of Ivy Funds (Board). Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes below its respective expense cap.

Fee Waiver and/or Expense Reimbursement: Through January 31, 2019, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

87 The Ivy Targeted Return Fund was renamed Ivy Pictet Targeted Return Bond Fund on April 3, 2017.

90 The Advantus Cornerstone Fund merged into the Ivy Value Fund on 12/8/03. The performance shown for periods prior to this date is that of the Advantus Cornerstone Fund Class A shares, restated to reflect current sales charges applicable to Ivy Value Fund Class A shares. Performance has not been restated to reflect the fees and expenses applicable to the Ivy Value Fund. If these expenses were reflected, performance shown would differ.

91 Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, Ivy Investment Management Company (IICO), the Fund’s investment manager, Ivy Distributors, Inc. (IDI), the Fund’s distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, if any) as follows: Class A shares at 1.22%; Class B shares at 2.36%; and Class I shares at 0.92%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees (Board).

Fee Waiver and/or Expense Reimbursement: Through July 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

92 Waddell & Reed Advisors Value Fund merged into Ivy Value Fund on Oct. 16, 2017.

93 Fee Waiver and/or Expense Reimbursement: Through October 31, 2020, Ivy Investment Management Company (IICO), the Fund's investment manager, Ivy Distributors, Inc. (IDI), the Fund's distributor, and/or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund's transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and/or shareholder servicing fees to cap the total annual ordinary fund operating expenses (which would exclude interest, taxes, brokerage commissions and extraordinary expenses, if any) as follows: Class A Shares at 1.16%; Class B shares at 2.25%; Class C shares at 2.01%; and Class I Shares at 0.83%. Prior to that date, the expense limitation may not be terminated without the consent of the Board of Trustees. Certain common expenses applicable to all share classes also may be waived to cap total annual ordinary fund operating expenses, which may serve to reduce the expense ratio of certain share classes below its respective expense cap.

Fee Waiver and/or Expense Reimbursement: Through October 31, 2020, IDI and/or WISC have contractually agreed to reimburse sufficient 12b-1 and/or shareholder servicing fees to ensure that the total annual ordinary fund operating expenses of the Class Y shares do not exceed the total annual ordinary fund operating expenses of the Class A shares, as calculated at the end of each month. Prior to that date, the expense limitation may not be terminated without the consent of the Board.

94 Effective May 18, 2017, the name of the Fund changed from Waddell & Reed Advisors Asset Strategy Fund to Waddell & Reed Advisors Wilshire Global Allocation Fund, and the Fund changed its investment strategy to operate as a “fund of funds.” The Fund’s performance prior to that date reflects the Fund’s former strategy; its performance may have differed if the Fund’s current strategy had been in place.

95 Waddell & Reed Advisors (WRA) Wilshire Global Allocation Fund merged into Ivy Wilshire Global Allocation Fund on Feb. 26, 2018. The returns shown prior to this date reflect the performance of WRA Wilshire Global Allocation Fund, which was incepted on March 9, 1995. Ivy Wilshire Global Allocation Fund adopted that performance as the result of a reorganization in which it acquired all assets and liabilities of WRA Wilshire Global Allocation Fund. Prior to the reorganization, the Ivy Wilshire Global Allocation Fund had no assets and had not commenced operations.

Yields

Yields as of 11/30/2018
IATAX Ivy Accumulative Fund
IMAAX Ivy Apollo Multi-Asset Income Fund 3.85% 3.62% 3.86% 3.86%
IAPOX Ivy Apollo Strategic Income Fund 4.07% 3.83% 4.50% 4.50%
WASAX Ivy Asset Strategy Fund 2.34% 2.22% 2.11% 2.11%
IBNAX Ivy Balanced Fund 1.65% 1.56% 1.40% 1.40%
IMHAX Ivy California Municipal High Income Fund 2.56% 2.45% 2.83% 2.83%
IAAXX Ivy Cash Management Fund
WCEAX Ivy Core Equity Fund 0.18% 0.17%
IBJAX Ivy Corporate Bond Fund 2.41% 2.27% 3.03% 3.01%
ICKAX Ivy Crossover Credit Fund 2.95% 2.78% 3.77% 3.51%
IPOAX Ivy Emerging Markets Equity Fund 0.00% 0.00%
IEYAX Ivy Energy Fund 0.36% 0.34%
IVSAX Ivy Global Bond Fund 2.64% 2.48% 3.67% 3.61%
IBIAX Ivy Global Equity Income Fund 2.02% 1.90% 2.01% 2.01%
IVINX Ivy Global Growth Fund 0.12% 0.12%
WRAXX Ivy Government Money Market Fund
IGJAX Ivy Government Securities Fund 1.44% 1.38% 2.11% 1.84%
WHIAX Ivy High Income Fund 6.90% 6.51% 7.12% 7.12%
IVJAX Ivy IG International Small Cap Fund 0.17% 0.16%
IVIAX Ivy International Core Equity Fund 3.05% 2.88%
WLGAX Ivy Large Cap Growth Fund 0.00% 0.00%
IREAX Ivy LaSalle Global Real Estate Fund 3.23% 3.05% 1.05% 0.94%
WLTAX Ivy Limited-Term Bond Fund 1.90% 1.85% 2.41% 2.41%
IVTAX Ivy Managed International Opportunities Fund 1.35% 1.27%
WMGAX Ivy Mid Cap Growth Fund 0.00% 0.00%
IVOAX Ivy Mid Cap Income Opportunities Fund 1.59% 1.50% 1.29% 1.26%
WMBAX Ivy Municipal Bond Fund 3.55% 3.40% 1.83% 1.83%
IYIAX Ivy Municipal High Income Fund 4.50% 4.31% 2.90% 2.89%
IGNAX Ivy Natural Resources Fund 0.00% 0.00%
IECAX Ivy Pictet Emerging Markets Local Currency Debt Fund 2.92% 2.75% 4.77% 4.30%
IRBAX Ivy Pictet Targeted Return Bond Fund 0.69% 0.65% 2.13% 2.13%
IPNAX Ivy PineBridge High Yield Fund 5.13% 4.83% 6.10% 6.10%
IAIRX Ivy ProShares Interest Rate Hedged High Yield Index Fund 4.98% 4.86% 6.12% 5.30%
IMWAX Ivy Proshares MSCI ACWI Index Fund 1.06% 1.04%
IRUAX Ivy ProShares Russell 2000 Dividend Growers Index Fund 1.29% 1.26% 1.54% 0.60%
IAPRX Ivy ProShares S&P 500 Bond Index Fund 2.64% 2.57% 3.57% 3.03%
IDAAX Ivy ProShares S&P 500 Dividend Aristocrats Index Fund 1.42% 1.38% 1.64% 0.95%
ICDAX Ivy Pzena International Value Fund 0.90% 0.85%
WSTAX Ivy Science and Technology Fund 0.00% 0.00%
IBOAX Ivy Securian Core Bond Fund 2.96% 2.79% 3.01% 3.01%
IRSAX Ivy Securian Real Estate Securities Fund 0.92% 0.88% 1.07% 0.93%
IYSAX Ivy Small Cap Core Fund 0.00% 0.00%
WSGAX Ivy Small Cap Growth Fund 0.00% 0.00%
IYVAX Ivy Value Fund 0.78% 0.74% 1.09% 1.09%
IWGAX Ivy Wilshire Global Allocation Fund 1.84% 1.74%

Rankings & Ratings

Rankings (Fund/Category) as of 11/30/2018
IATAX Ivy Accumulative Fund Large Growth 613/1417 1185/1252 919/1115 748/804
IMAAX Ivy Apollo Multi-Asset Income Fund Allocation--30% to 50% Equity 90/542 123/466
IAPOX Ivy Apollo Strategic Income Fund Multisector Bond 64/320 133/287
WASAX Ivy Asset Strategy Fund World Allocation 18/456 358/392 294/325 131/161
IBNAX Ivy Balanced Fund Allocation--50% to 70% Equity 49/767 603/697 370/610 235/443
IMHAX Ivy California Municipal High Income Fund Muni California Long 89/108
IAAXX Ivy Cash Management Fund Money Market - Taxable
WCEAX Ivy Core Equity Fund Large Growth 1092/1417 1127/1252 1016/1115 718/804
IBJAX Ivy Corporate Bond Fund Corporate Bond 97/253 177/183 146/152 79/82
ICKAX Ivy Crossover Credit Fund Corporate Bond 215/253
IPOAX Ivy Emerging Markets Equity Fund Diversified Emerging Mkts 728/848 294/710 22/521 74/236
IEYAX Ivy Energy Fund Equity Energy 83/100 73/89 33/74 29/58
IVSAX Ivy Global Bond Fund Multisector Bond 145/320 168/287 186/215 120/133
IBIAX Ivy Global Equity Income Fund World Large Stock 606/885 639/732 455/610
IVINX Ivy Global Growth Fund World Large Stock 112/885 504/732 346/610 222/362
WRAXX Ivy Government Money Market Fund Prime Money Market
IGJAX Ivy Government Securities Fund Intermediate Government 171/236 161/210 171/194 136/144
WHIAX Ivy High Income Fund High Yield Bond 130/699 103/607 194/518 52/333
IVJAX Ivy IG International Small Cap Fund Foreign Small/Mid Growth 75/131
IVIAX Ivy International Core Equity Fund Foreign Large Blend 523/748 480/636 133/511 45/380
WLGAX Ivy Large Cap Growth Fund Large Growth 170/1417 437/1252 311/1115 561/804
IREAX Ivy LaSalle Global Real Estate Fund Global Real Estate 33/213 134/194 79/154
WLTAX Ivy Limited-Term Bond Fund Short-Term Bond 371/531 255/473 218/399 172/258
IVTAX Ivy Managed International Opportunities Fund Foreign Large Blend 386/748 373/636 81/511 135/380
WMGAX Ivy Mid Cap Growth Fund Mid-Cap Growth 67/600 86/542 219/490 95/341
IVOAX Ivy Mid Cap Income Opportunities Fund Mid-Cap Value 12/413 12/364
WMBAX Ivy Municipal Bond Fund Muni National Interm 65/296 125/257 96/224 37/148
IYIAX Ivy Municipal High Income Fund High Yield Muni 84/183 139/155 105/127
IGNAX Ivy Natural Resources Fund Natural Resources 85/128 100/118 76/114 49/81
IECAX Ivy Pictet Emerging Markets Local Currency Debt Fund Emerging-Markets Local-Currency Bond 62/73 61/68
IRBAX Ivy Pictet Targeted Return Bond Fund Nontraditional Bond 171/317
IPNAX Ivy PineBridge High Yield Fund High Yield Bond 541/699
IAIRX Ivy ProShares Interest Rate Hedged High Yield Index Fund High Yield Bond 71/699
IMWAX Ivy Proshares MSCI ACWI Index Fund World Large Stock 396/885
IRUAX Ivy ProShares Russell 2000 Dividend Growers Index Fund Small Value 8/415
IAPRX Ivy ProShares S&P 500 Bond Index Fund Corporate Bond 211/253
IDAAX Ivy ProShares S&P 500 Dividend Aristocrats Index Fund Large Blend 174/1402
ICDAX Ivy Pzena International Value Fund World Large Stock 837/885 699/732 607/610 357/362
WSTAX Ivy Science and Technology Fund Technology 136/207 169/182 164/174 111/140
IBOAX Ivy Securian Core Bond Fund Intermediate-Term Bond 391/1024 129/875 145/776 214/562
IRSAX Ivy Securian Real Estate Securities Fund Real Estate 139/247 150/222 98/187 116/138
IYSAX Ivy Small Cap Core Fund Small Blend 196/769 25/636 34/525 254/381
WSGAX Ivy Small Cap Growth Fund Small Growth 216/677 149/585 119/515 93/393
IYVAX Ivy Value Fund Large Value 354/1248 943/1090 750/935 409/678
IWGAX Ivy Wilshire Global Allocation Fund World Allocation 121/456 381/392 303/325 140/161

Ticker Symbols & Fund Codes

Ivy Accumulative Fund IATAX 46600G879 682
Ivy Apollo Multi-Asset Income Fund IMAAX 46600B847 673
Ivy Apollo Strategic Income Fund IAPOX 46600B805 674
Ivy Asset Strategy Fund WASAX 466000759 606
Ivy Balanced Fund IBNAX 465898625 644
Ivy California Municipal High Income Fund IMHAX 465899144 600
Ivy Cash Management Fund IAAXX 46600G697 685
Ivy Core Equity Fund WCEAX 466000106 601
Ivy Corporate Bond Fund IBJAX 46600G101 681
Ivy Crossover Credit Fund ICKAX 46600B730 679
Ivy Emerging Markets Equity Fund IPOAX 465897866 611
Ivy Energy Fund IEYAX 466000395 694
Ivy Global Bond Fund IVSAX 465899748 697
Ivy Global Equity Income Fund IBIAX 465899631 659
Ivy Global Growth Fund IVINX 465897502 617
Ivy Government Money Market Fund WRAXX 466000486 670
Ivy Government Securities Fund IGJAX 46600B227 690
Ivy High Income Fund WHIAX 466000668 609
Ivy IG International Small Cap Fund IVJAX 46600A682 678
Ivy International Core Equity Fund IVIAX 465897353 613
Ivy Large Cap Growth Fund WLGAX 466000627 667
Ivy LaSalle Global Real Estate Fund IREAX 465899359 658
Ivy Limited-Term Bond Fund WLTAX 466000882 603
Ivy Managed International Opportunities Fund IVTAX 465898229 695
Ivy Mid Cap Growth Fund WMGAX 466000577 668
Ivy Mid Cap Income Opportunities Fund IVOAX 46600B102 663
Ivy Municipal Bond Fund WMBAX 466000841 604
Ivy Municipal High Income Fund IYIAX 466001849 665
Ivy Natural Resources Fund IGNAX 465897429 612
Ivy Pictet Emerging Markets Local Currency Debt Fund IECAX 465899227 631
Ivy Pictet Targeted Return Bond Fund IRBAX 46600B789 652
Ivy PineBridge High Yield Fund IPNAX 46600A310 650
Ivy ProShares Interest Rate Hedged High Yield Index Fund IAIRX 46600A518 662
Ivy Proshares MSCI ACWI Index Fund IMWAX 46600A377 660
Ivy ProShares Russell 2000 Dividend Growers Index Fund IRUAX 46600A575 653
Ivy ProShares S&P 500 Bond Index Fund IAPRX 46600A443 661
Ivy ProShares S&P 500 Dividend Aristocrats Index Fund IDAAX 46600A641 654
Ivy Pzena International Value Fund ICDAX 465898880 615
Ivy Science and Technology Fund WSTAX 466000718 608
Ivy Securian Core Bond Fund IBOAX 465898344 646
Ivy Securian Real Estate Securities Fund IRSAX 465898476 648
Ivy Small Cap Core Fund IYSAX 465898435 645
Ivy Small Cap Growth Fund WSGAX 466000502 602
Ivy Value Fund IYVAX 465898385 632
Ivy Wilshire Global Allocation Fund IWGAX 46600G788 683

Documents & Prospectuses

Fund Name Fund Fact Sheet Summary Prospectus Prospectus XBRL Annual
Report
Semi-Annual Report SAI Quarterly
Fund
Commentary
Ivy Accumulative Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Apollo Multi-Asset Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Apollo Strategic Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Asset Strategy Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Balanced Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy California Municipal High Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Cash Management Fund Summary Prospectus (PDF Document) Prospectus (PDF Document) SAI (PDF Document)
Ivy Core Equity Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Corporate Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Crossover Credit Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Emerging Markets Equity Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Energy Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Global Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Global Equity Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Global Growth Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Government Money Market Fund Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document)
Ivy Government Securities Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy High Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy IG International Small Cap Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy International Core Equity Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Large Cap Growth Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy LaSalle Global Real Estate Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Limited-Term Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Managed International Opportunities Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Mid Cap Growth Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Mid Cap Income Opportunities Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Municipal Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Municipal High Income Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Natural Resources Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Pictet Emerging Markets Local Currency Debt Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Pictet Targeted Return Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy PineBridge High Yield Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy ProShares Interest Rate Hedged High Yield Index Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Proshares MSCI ACWI Index Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy ProShares Russell 2000 Dividend Growers Index Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy ProShares S&P 500 Bond Index Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy ProShares S&P 500 Dividend Aristocrats Index Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Pzena International Value Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Science and Technology Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Securian Core Bond Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Securian Real Estate Securities Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Small Cap Core Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Small Cap Growth Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Value Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) XBRL (External Link) Annual Report (PDF Document) Semi-Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)
Ivy Wilshire Global Allocation Fund Fund Fact Sheet (PDF Document) Summary Prospectus (PDF Document) Prospectus (PDF Document) Annual Report (PDF Document) SAI (PDF Document) Quarterly Fund Commentary (PDF Document)