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| Maturity distribution (as of 10/31/09)
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| |
|
% of Portfolio |
| Under 1 Yr |
3.3% |
|
| 1 to 3 Yrs |
18.3% |
|
| 3 to 5 Yrs |
12.6% |
|
| 5 to 7 Yrs |
7.8% |
|
| 7 to 10 Yrs |
25.3% |
|
| 10 to 20 Yrs |
19.2% |
|
| 20 Yrs and over |
13.4% |
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| Top 10 holdings (as of 10/31/09)
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| Holding |
% of Portfolio |
| Pinal Cnty Ariz Ctfs Partn |
3.22% |
|
| Phoenix Ariz Civic Impt Corp |
3.0% |
|
| Southern Ariz Cap Facs Fin |
2.85% |
|
| Phoenix Ariz Civic Impt Corp W |
2.38% |
|
| Phoenix Ariz Civic Impt Corp |
2.35% |
|
| University Med Ctr Corp Ariz |
2.08% |
|
| Maricopa Cnty Ariz Indl Dev Au |
2.05% |
|
| Phoenix Ariz |
1.97% |
|
| Arizona Tourism & Sports Auth |
1.97% |
|
| Puerto Rico Sales Tax Fing |
1.97% |
|
| Total % Portfolio in Top 10 holdings |
23.8% |
|
|
|
| Top 10 sectors (as of 10/31/09)
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| |
| Sector |
% of Portfolio |
| Special tax |
16.18% |
|
| Healthcare |
12.97% |
|
| Lease |
11.78% |
|
| Pre-Refunded/ETM |
10.3% |
|
| Local general obligation |
8.54% |
|
| Education |
8.47% |
|
| Water/sewer |
8.01% |
|
| State general obligation |
6.31% |
|
| Corporate |
5.79% |
|
| Electric |
5.26% |
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| Holding information (as of 10/31/09)
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| |
| # Securities |
84 |
|
| # Fixed Income Securities |
84 |
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| # Equity Securities |
0 |
|
| # Countries |
1 |
|
| # Issuers |
62 |
|
|
| Asset allocation (as of 10/31/09)
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| |
| Municipal Bonds |
98.9% |
|
| Cash & Cash Equivalents |
1.1% |
|
|
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| Top 1 states (as of 10/31/09)
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| |
| State |
% of Portfolio |
| Arizona |
78.42% |
|
| Total % Portfolio in Top 1 states |
78.4% |
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| Click here to see a full list of this fund's quarterly holdings (as of 09/30/2009).
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| Click here to see a full list of this fund's monthly holdings (as of 09/30/2009).
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The Fund invests primarily in a specific state and may be more susceptible to the economic, regulatory, and other factors of that state than a fund that invests more broadly.
Effective at the close of business on May 31, 2007, no new or subsequent investments will be allowed in Class B shares of the Delaware Investments® Family of Funds except through a reinvestment of dividends or capital gains or permitted exchanges. http://www.delawareinvestments.com/Corporate/shareholder/supp_bclass.pdf
The Fund has been assigned to a specific style box based on its investment focus and portfolio. In the fixed-income style grid, low quality is defined as bonds rated BB or lower; medium as bonds rated BBB through A; and high as AA or better. Maturity for taxable bond funds is based on the following ranges: short is up to 3.5 years; intermediate is 3.5 to 6 years; and long is greater than 6 years. The Fund's portfolio is subject to change and may not always reflect the characteristics of that box.
The purpose of insurance is to protect against credit risk. It does not insure against market risk or guarantee the value of the securities in the portfolio or the value of shares of any of the Funds.
Substantially all dividends are exempt from federal income tax and may be subject to AMT that applies to certain taxpayers. Capital gains, if any, are taxable.
A rise/fall in the interest rates can have a significant impact on bond prices and the NAV (net asset value) of the fund. Funds that invest in bonds can lose their value as interest rates rise and an investor can lose principal.
The Delaware information provided herein may be used in conjunction with the offering of shares only if preceded or accompanied by a prospectus. All Delaware Funds are offered by prospectus only. The prospectus contains more complete information on advisory fees, distribution charges, and other expenses and should be read carefully before investing or sending money. A printed copy of any Delaware Investments fund prospectus may be obtained by calling Delaware Investments at 800 523-1918.
Distributed by Delaware Distributors L.P.
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