Morningstar Advisor - October/November 2013 - (Page 25)

I V Y BA L A N CED FUND ( IBN A X ) Unpredictable World. Predictable Allocation. The Ivy Balanced Fund pursues an uncomplicated approach to asset allocation. With a typical mix of about two-thirds U.S. equity and one-third ﬁ xed income, the Fund seeks to balance potential risk and reward in a complex world. Over the long-term, this balance has translated to solid risk-adjusted ratings. Overall Morningstar Ratings ™ Class A Shares, Aggressive Allocation Category out of 330 funds At Ivy Funds, we use a collaborative process — born of rigorous debate, hands-on research and a proven cross-disciplinary approach — to fully assess the opportunities we pursue on behalf of our investors every day. To learn more, visit ivyfunds.com. Class A Shares, Aggressive Allocation Category, 1-Year (3-star out of 330), 5-Year (5-star out of 308), and 10-Year Morningstar Rating™ (5-star out of 123) as of 06/30/2013, based on risk-adjusted returns. I V Y F U N D S .C O M SM FA C EB O O K .C O M / I V Y F U N D S Past performance is not a guarantee of future results. Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. For a prospectus containing this and other information for the Ivy Funds, call your financial advisor or visit us online at www.ivyfunds.com. Please read the prospectus or summary prospectus carefully before investing. Risk factors. As with any mutual fund, the value of the Fund’s shares will change, and you could lose money on your investment. Fixed-income securities are subject to interest-rate risk and, as such, the net asset value of the Fund may fall as interest rates rise. The lower-rated securities in which the Fund may invest may carry a greater risk of nonpayment of interest or principal than higher-rated bonds. In addition to the risks typically associated with fi xed-income securities, loan participations in which the Fund may invest carry other risks, including the risk of insolvency of the lending bank or other intermediary. Loan participations may be unsecured or not fully collateralized and may be subject to restrictions on resale and sometimes trade infrequently on the secondary market. Dividend-paying investment may not experience the same price appreciation as nondividend paying instruments. Dividend-issuing companies may not pay a dividend or the dividend may be less than expected. These and other risks are more fully described in the Fund’s prospectus. Morningstar Ratings™: For each fund with at least a 3-year history, Morningstar calculates a risk-adjusted return measure that accounts for variation in a fund’s monthly performance (including the effects of all sales charges), placing emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) Morningstar Rating is for the share classes specifi ed; other classes may have different performance characteristics. I V Y F U N D S D I S T R I B U TO R , I N C . 18 6 8 5 - B A L ( 10 /13 ) http://www.ivyfunds.com http://www.ivyfunds.com http://www.IVYFUNDS.COM http://www.FACEBOOK.COM/ivyfunds http://www.ivyfunds.com

Table of Contents for the Digital Edition of Morningstar Advisor - October/November 2013

Morningstar Advisor - October/November 2013
Contents
Contributors
Letter From the Editor
How to Make Social Media Work for You
Do Mutual Funds Still Have a Role?
More Personal Than Finance
How to Handle Your TIPS Positions
A Real Estate Veteran Starts From Scratch
Investments á la Carte
Investment Briefs
When to Say No
Take a Guarded Approach to Homebuilders
Fund Distribution Has Been Turned on Its Head. Now What?
Winning the Distribution Battle
Active ETFs Wait for Their Heyday
A Fund Firm Defies Indexing Trend
Piloting New Channels
A Good Fit
The Predictive Power of Fair Value Estimates
Does Being Prudent Pay Off?
Utilizing Utilities’ Total Return
Stuck in the Middle Is Not a Bad Place to Be
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
The Good Guys Win

Morningstar Advisor - October/November 2013