Nomura Diversified Income Fund
Delaware Group Adviser Funds · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Nomura Diversified Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q1
Nomura Diversified Income Fund seeks maximum long-term total return, consistent with reasonable risk.
The fund allocates assets across four fixed income sectors—US investment grade, US high yield, international developed markets, and emerging markets—based on the manager's assessment of economic conditions and return potential in each. High yield exposure is capped between 5% and 35%, emerging markets at no more than 20%, and foreign securities between 5% and 40%, with foreign currency exposure limited to 20% through hedging. The fund maintains at least 80% in fixed income securities and may use derivatives including futures, swaps, and options for both hedging and return enhancement. Because allocations among sectors vary over time and the fund may not be invested in all sectors at all times, returns depend on the manager's tactical positioning decisions.
| Share class | Gross | Net |
|---|---|---|
| DPDFX | 0.89% | 0.67% |
| DPCFX | 1.64% | 1.42% |
| DPRFX | 1.14% | 0.92% |
| DPFFX | 0.64% | 0.42% |
| DPZRX | 0.54% | 0.32% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 102.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 48.36% |
| Securitized | 47.92% |
| Loans | 1.35% |
| Cash & short-term | 0.85% |
| Stocks | 0.31% |
| Derivatives | -0.40% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 48.3% |
| Financials | 12.1% |
| Other | 10.0% |
| International | 8.8% |
| 12 smaller | 20.8% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×2, LEX TRUST 2026-450, WELLS FARGO & COMPANY, CHICAGO BOARD OF TRADE, VALERO ENERGY CORP, DOMINO'S PIZZA INC, ANGLO AMERICAN PLC
Largest exited: US TREASURY N/B ×3, Government National Mortgage A, LEIDOS INC, DataBank Issuer LLC, META PLATFORMS INC, STATE STREET CORP
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.83% | +12.55% | +1.14% | 3.51% | -6.27% | |
| +4.04% | +10.05% | -2.63% | 3.56% | -6.62% | |
| +4.71% | +11.72% | -0.11% | 3.50% | -6.52% | |
| +5.21% | +13.36% | +2.39% | 3.50% | -6.27% | |
| +5.18% | +13.70% | +2.88% | 3.55% | -6.23% |
These classes hold the same portfolio, so the 5.51pp spread over 5 years is the cost difference between them — roughly 1.10pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 84.2% |
| Floating rate | 15.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.8% |
| 1-3y | 6.1% |
| 3-5y | 12.3% |
| 5-10y | 25.1% |
| 10y+ | 54.1% |
| Unknown | 1.7% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 55% |
| Credit spreads | 45% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.28 yr |
| High yield | +0.40 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.58 yr | 10% |
| 5 yr | 1.82 yr | 32% |
| 10 yr | 2.16 yr | 38% |
| 30 yr | 1.16 yr | 20% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.45 yr | 10% |
| 5 yr | 2.74 yr | 59% |
| 10 yr | 1.41 yr | 30% |
| 30 yr | 0.07 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.01 | +0.00 | $3.0k | $121 |
| 1 yr | +0.58 | +0.36 | +0.09 | $83.4k | $19.8k |
| 5 yr | +1.82 | +2.50 | +0.24 | $572.5k | $55.5k |
| 10 yr | +2.16 | +1.34 | +0.07 | $307.1k | $15.2k |
| 30 yr | +1.16 | +0.07 | +0.00 | $16.4k | $343 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.13% · due 2036-02-15 | 4.79% | $109.93M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION2.00% · due 2051-04-01 | 2.23% | $51.05M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION6.00% · due 2055-09-01 | 1.52% | $34.88M | — |
| — | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION2.50% · due 2051-07-20 | 1.21% | $27.66M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.88% · due 2031-03-31 | 1.15% | $26.38M | — |
| — | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION2.00% · due 2050-10-20 | 1.12% | $25.73M | — |
| — | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION3.00% · due 2052-04-20 | 0.91% | $20.74M | — |
| — | FEDERAL HOME LOAN MORTGAGE CORP4.50% · due 2052-10-01 | 0.81% | $18.55M | — |
| — | FEDERAL HOME LOAN MORTGAGE CORP3.50% · due 2049-02-01 | 0.80% | $18.35M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION2.50% · due 2052-02-01 | 0.76% | $17.41M | — |
Top 10 positions are 15.29% of net assets, top 25 24.16%, across 474 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
Sign in free