Fund Evaluator:
Nomura Natural Resources Y (IGNYX)
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Best Performing in Natural Resources Over the Last Year
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| 36.0% | Nomura Natural Resources Y (IGNYX) |
Fund Details
Nomura Natural Resources Y Overview
Nomura Natural Resources Y (IGNYX) is an actively managed Sector Equity Natural Resources fund. Nomura launched the fund in 2003.
The investment seeks to provide capital growth and appreciation. The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in equity securities of companies with operations throughout the world that own, explore or develop natural resources and other basic commodities or supply goods and services to such companies. Under normal circumstances, the manager anticipates that a significant portion of the fund's portfolio will consist of issuers in the energy and materials sectors.
About Nomura Natural Resources Y (IGNYX)
There are 2 members of the management team with an average tenure of 4.62 years: Geoffrey King (2021), Samuel Halpert (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P Global Natural Resources TR USD index with a weighting of 100%. Nomura Natural Resources Y has 47 securities in its portfolio. The top 10 holdings constitute 34.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Nomura Natural Resources Y is part of the Equity global asset class and is within the Sector Equity fund group. Nomura Natural Resources Y has 39.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 57.8%. There is 39.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nomura Natural Resources Y has 2.9% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $232 million average for the Natural Resources category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IGNYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nomura Natural Resources Y expense ratio is high compared to funds in the Natural Resources category. Nomura Natural Resources Y has an expense ratio of 1.22%, which is 6% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nomura Natural Resources Y has a portfolio turnover rate of 65%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 60% for the Natural Resources category.
Recently, in the month of June 2026, Nomura Natural Resources Y returned -8.4%, which earned it a grade of D, as the Natural Resources category had an average return of -5.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Nomura Natural Resources Y has a trailing yield of 0.00%, which is below the 2.09% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Nomura Natural Resources Y Grades
Year to date, the fund has returned 8.2%, 3.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 36.0% over the past year (grade of B), 15.4% over the past three years (grade of B) and 13.6% per year over the past five years (grade of B) and 6.6% per year over the past 10 years (grade of F).
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IGNYX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IGNYX Return (NAV) | -8.4% | -8.9% | 36.0% | 15.4% | 13.6% | 6.6% |
| IGNYX Grade | D | D | B | B | B | F |
| +/- Category | -2.9% | -4.8% | 4.2% | 2.2% | 2.9% | -2.9% |
| Natural Resources Avg | -5.5% | -4.1% | 31.8% | 13.2% | 10.8% | 9.5% |
| IGNYX Tax Cost Ratio | na | na | 0.0% | 0.8% | 0.8% | 0.5% |
IGNYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IGNYX Return (NAV) | 8.2% | 37.9% | -0.5% | 1.3% | 17.8% | 26.6% | -12.1% | 9.7% | -23.6% | 3.2% | 24.1% |
| IGNYX Grade | D | B | C | C | B | C | F | F | D | D | D |
| +/- Category | -3.4% | 9.3% | 0.0% | -2.1% | 9.7% | -4.3% | -21.7% | -5.2% | -3.1% | -9.9% | -4.4% |
| Natural Resources Avg | 11.6% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 17.5% |
| Total Risk Index: | 1.44 - High |
| Category Risk Index: | 0.98 - Above Average |
| Category Risk Grade: | D (68% Rank) |
| Beta: | 0.59 |
| R-Squared: | 18% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $228 Mil |
| Fund Total Assets: | $ 12 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 65% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.6 years | |||
| Average Tenure: 4.6 years | |||
| Managers (Year): King Geoffrey (2021), Halpert Samuel (2021) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 47 |
| % in Top 10 Holdings: | 34.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 39.3% |
Portfolio Allocation |
|
| Domestic Stock: | 57.8% |
| Foreign Stock: | 39.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.9% |
Purchase Information
| Fund Family: | Nomura |
| Phone Number: | 800-523-1918 |
| Website: | www.ivyinvestments.com |
| Status: | Open |
| Inception Date: | July 24, 2003 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.22% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Nomura Natural Resources A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
