Nomura Mid Cap Income Opportunities Fund Class A (IVOAX)

Fund Assets	700.19M
Expense Ratio	1.07%
Min. Investment	$750
Turnover	22.00%
Dividend (ttm)	0.49
Dividend Yield	2.52%
Dividend Growth	65.45%
Payout Frequency	Quarterly
Ex-Dividend Date	Jun 22, 2026

Previous Close	19.21
YTD Return	14.79%
1-Year Return	12.60%
5-Year Return	42.09%
52-Week Low	16.69
52-Week High	20.13
Beta (5Y)	1.18
Holdings	39
Inception Date	Oct 1, 2014

About IVOAX

Macquarie Mid Cap Income Opportunities Fund Class A is a mutual fund focused on delivering total return through a blend of current income and capital appreciation. The fund invests primarily in a carefully selected portfolio of dividend-paying mid-cap companies, emphasizing businesses with resilient capital structures and sustainable growth prospects. Its strategy targets firms with a consistent history of dividend growth and yields above 0.5%, favoring sectors such as industrials, consumer discretionary, and materials, which are viewed as having defensive characteristics and pricing power. The portfolio is notably concentrated, typically comprising around 35 equally weighted holdings, ensuring that each investment plays a meaningful role in the fund’s overall performance. This contrasts with broader mid-cap funds that may hold hundreds of stocks. Through disciplined, bottom-up research and a focus on fundamental strength, the fund seeks to balance risk and reward, aiming to weather volatility while generating a steady income stream. Managed by a seasoned team, the fund plays a significant role for investors seeking exposure to mid-cap equities with an income orientation, positioning itself as a distinctive choice within the mid-cap value category.

• Fund Family: Nomura
• Category: Mid-Cap Blend
• Performance Rating: Below Average
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: IVOAX
• Share Class: Class A
• Index: Russell MidCap TR

Performance

IVOAX had a total return of 12.60% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.68%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
SWMCX	Schwab	Schwab ® US Mid-Cap Index	0.04%
FLAPX	Fidelity	Fidelity Flex Mid Cap Index Fund	n/a
FSMDX	Fidelity	Fidelity Mid Cap Index Fund	0.03%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
IVOSX	Class R6	0.73%
IVOIX	Institutional Class	0.82%
IVOYX	Class Y	1.07%
IVORX	Class R	1.32%

Top 10 Holdings

29.23% of assets

Name	Symbol	Weight
Arthur J. Gallagher & Co.	AJG	3.03%
First American Financial Corporation	FAF	2.96%
Service Corporation International	SCI	2.95%
Sonoco Products Company	SON	2.92%
nVent Electric plc	NVT	2.91%
Quest Diagnostics Incorporated	DGX	2.91%
Microchip Technology Incorporated	MCHP	2.90%
Royalty Pharma plc	RPRX	2.89%
Paychex, Inc.	PAYX	2.89%
Fastenal Company	FAST	2.89%

Dividend History

Ex-Dividend	Amount	Pay Date
Jun 22, 2026	$0.13382	Jun 22, 2026
Mar 20, 2026	$0.05092	Mar 20, 2026
Dec 2, 2025	$2.34332	Dec 2, 2025
Sep 22, 2025	$0.06477	Sep 23, 2025
Jun 20, 2025	$0.07617	Jun 23, 2025
Mar 21, 2025	$0.07557	Mar 24, 2025

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 27, 2026

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