 Best out of 106 funds for the 3-year period
Lipper classification: Multi-Sector Income Funds ended 12/31/09
Best out of 124 funds for the 3-year period
Lipper classification: Short-Intermediate Investment Grade Debt Funds ended 12/31/09
Best out of 123 funds for the 3-year period
Lipper classification: Other States Municipal Debt Funds ended 12/31/09
Best out of 32 funds for the 5-year period
Lipper classification: Minnesota Municipal Debt Funds ended 12/31/09
Best out of 231 funds for the 5-year period
Lipper classification: Mixed-Asset Target Allocation Conservative Funds ended 12/31/09
Best out of 60 funds for the 10-year period
Lipper classification: Corporate Debt BBB-Rated Funds ended 12/31/09
Best out of 31 funds for the 10-year period
Lipper classification: Minnesota Municipal Debt Funds ended 12/31/09
Best out of 76 funds for the 10-year period
Lipper classification: California Municipal Debt Funds ended 12/31/09
Best out of 71 funds for the 10-year period
Lipper classification: New York Municipal Debt Funds ended 12/31/09
Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by visiting www.delawareinvestments.com/literature or calling 800 523-1918. Investors should read the prospectus carefully before investing.
Lipper Fund Awards are granted annually to the funds in each Lipper classification that achieve the highest score using the Lipper Leader for Consistent Return methodology, a measure of the funds' historic risk-adjusted returns, relative to peers. Ratings for Consistent Return are computed for all Lipper classifications with five or more distinct portfolios. The ratings are subject to change every month and are calculated for the following periods: 3-year, 5-year, 10-year, and overall. The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The highest Lipper Leader for Consistent Return within each eligible classification determines the fund classification winner over 3, 5, or 10 years. Lipper ratings are based on total return with dividends reinvested and do not take into account or reflect sales charges (loads). Lipper, a wholly owned subsidiary of Reuters, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries, and media organizations. © 2010 Lipper a subsidiary of Thomson Reuters.
The 2010 Lipper Fund Awards are based on performance for the 3-, 5-, and 10-year periods ended Dec. 31, 2009. Past performance is no guarantee of future results. Fee waivers were in place for all or some of those periods. Without such waivers, performance would have been lower and Lipper ratings would have been lower.
As of Dec. 31, 2009, the funds were ranked for the 1-, 3-, 5-, and 10-year periods (if applicable), respectively.
Delaware Diversified Income Fund ranked 94 out of 154, 1 out of 106, and 2 out of 99 funds in the Multi-Sector Income Funds category.
Delaware Extended Duration Bond Fund ranked 59 out of 149, 3 out of 124, 4 out of 101, and 1 out of 60 funds in the Corporate Debt BBB-Rated Funds category.
Delaware Foundation Conservative Allocation Fund ranked 66 out of 415, 9 out of 360, 1 out of 231, and 5 out of 77 funds in the Mixed-Asset Target Allocation Conservative Funds category.
Delaware Minnesota High-Yield Municipal Bond Fund ranked 5 out of 41, 22 out of 38, 4 out of 32, and 1 out of 31 funds in the Minnesota Municipal Debt Funds category.
Delaware Tax-Free California Fund ranked 38 out of 122, 9 out of 109, 9 out of 101, and 1 out of 76 funds the California Municipal Debt Funds category.
Delaware Tax-Free Idaho Fund ranked 80 out of 132, 1 out of 123, 3 out of 115, and 4 out of 103 fund in the Other States Municipal Debt Funds category.
Delaware Tax-Free Minnesota Fund ranked 25 out of 41, 4 out of 38, 1 out of 32, and 4 out of 31 funds in the Minnesota Municipal Debt Funds category.
Delaware Tax-Free New York Fund ranked 61 out of 95, 8 out of 88, 3 out of 86, and 1 out of 71 funds in the New York Municipal Debt Funds category.
Delaware Limited-Term Diversified Income Fund ranked 60 out of 150, 1 out of 124, was removed from award eligibility in the 5-year category*, and 6 out of 65 funds in the Short-Intermediate Investment Grade Debt Funds category.
*On Feb 9, 2008, the Delaware Limited-Term Diversified Income Fund underwent a classification change in Lipper's database, moving from Short-Intermediate US Government Funds to Short-Intermediate Investment Grade Debt Funds. Funds undergoing a change in classification within two years of the performance measurement period are removed from the qualified fund list for the five-year award period.
Investing involves risk, including the possible loss of principal.
Fixed income securities and bond funds can lose value, and investors can lose principal, as interest rates rise. They also may be affected by economic conditions that hinder an issuer's ability to make interest and principal payments on its debt. The Funds may also be subject to prepayment risk, the risk that the principal of a fixed income security that is held by the Fund may be prepaid prior to maturity, potentially forcing the Fund to reinvest that money at a lower interest rate.
Funds that invest primarily in one state may be more susceptible to the economic, regulatory, and other factors of that state than funds that invest more broadly.
Substantially all dividend income derived from tax-free funds is exempt from federal income tax. Some income may be subject to the federal alternative minimum tax (AMT) that applies to certain investors. Capital gains, if any, are taxable.
High yielding, noninvestment grade bonds (junk bonds) involve higher risk than investment grade bonds.
International investments entail risks not ordinarily associated with U.S. investments including fluctuation in currency values, differences in accounting principles, or economic or political instability in other nations. Investing in emerging markets can be riskier than investing in established foreign markets due to increased volatility and lower trading volume.
If and when we invest in forward foreign currency contracts or use other investments to hedge against currency risks, the Fund will be subject to special risks, including counterparty risk.
Certain Funds may experience portfolio turnover in excess of 100%, which could result in higher transaction costs and tax liability.
Not FDIC Insured | No Bank Guarantee | May Lose Value
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