Fund Evaluator:
Nomura Science and Technology C (WSTCX)
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Fund Details
Nomura Science and Technology C Overview
Nomura Science and Technology C (WSTCX) is an actively managed Sector Equity Technology fund. Nomura launched the fund in 1997.
The investment seeks to provide growth of capital. The fund invests primarily in the equity securities of science and technology companies around the globe. Under normal circumstances, it invests at least 80% of its net assets in securities of science or technology companies. The fund also may invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities. It may invest in securities issued by companies of any size, and may invest without limitation in foreign securities, including securities of issuers within emerging markets. The fund is non-diversified.
About Nomura Science and Technology C (WSTCX)
There are 2 members of the management team with an average tenure of 7.28 years: Bradley Warden (2016), Gustaf Zinn (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 North American Technology TR index with a weighting of 100%. Nomura Science and Technology C has 39 securities in its portfolio. The top 10 holdings constitute 55.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Nomura Science and Technology C is part of the Equity global asset class and is within the Sector Equity fund group. Nomura Science and Technology C has 17.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 82.3%. There is 17.0% 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 Science and Technology C has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $80 million in total assets, which is below the $1 billion average for the Technology 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.
WSTCX 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 Science and Technology C expense ratio is high compared to funds in the Technology category. Nomura Science and Technology C has an expense ratio of 1.91%, which is 56% higher than its category average, making the fund expense ratio grade a F. 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 Science and Technology C has a portfolio turnover rate of 58%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Technology category.
Recently, in the month of July 2026, Nomura Science and Technology C returned -8.1%, which earned it a grade of C, as the Technology category had an average return of -8.6%. 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 Science and Technology C has a trailing yield of 0.00%, which is below the 0.05% 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 Science and Technology C Grades
Year to date, the fund has returned 31.4%, 10.0 percentage points better than the category, which translates into a grade of A. The fund has returned 45.2% over the past year (grade of B), 34.9% over the past three years (grade of B) and 16.6% per year over the past five years (grade of B) and 20.2% per year over the past 10 years (grade of C).
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WSTCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| WSTCX Return (NAV) | -8.1% | 9.2% | 45.2% | 34.9% | 16.6% | 20.2% |
| WSTCX Grade | C | B | B | B | B | C |
| +/- Category | 0.5% | 2.4% | 10.5% | 8.0% | 4.0% | -0.5% |
| Technology Avg | -8.6% | 6.8% | 34.7% | 26.9% | 12.7% | 20.8% |
| WSTCX Tax Cost Ratio | na | na | 2.8% | 4.9% | 6.5% | 4.3% |
WSTCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WSTCX Return (NAV) | 31.4% | 32.8% | 30.4% | 39.6% | -33.0% | 14.5% | 35.0% | 49.1% | -5.8% | 31.8% | 1.0% |
| WSTCX Grade | A | B | C | F | B | C | F | B | D | F | F |
| +/- Category | 10.0% | 8.1% | 2.0% | -10.1% | 5.2% | -2.7% | -21.8% | 7.8% | -1.9% | -5.5% | -9.9% |
| Technology Avg | 21.4% | 24.7% | 28.3% | 49.6% | -38.2% | 17.2% | 56.9% | 41.2% | -3.9% | 37.4% | 10.8% |
| Risk Measures | |
| Standard Deviation: | 24.9% |
| Total Risk Index: | 2.03 - High |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (56% Rank) |
| Beta: | 1.72 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $8024 Mil |
| Fund Total Assets: | $ 80 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 58% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.8 years | |||
| Average Tenure: 7.3 years | |||
| Managers (Year): Warden Bradley (2016), Zinn Gustaf (2021) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 39 |
| % in Top 10 Holdings: | 55.4% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 17.0% |
Portfolio Allocation |
|
| Domestic Stock: | 82.3% |
| Foreign Stock: | 17.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Fund Family: | Nomura |
| Phone Number: | 800-523-1918 |
| Website: | www.ivyinvestments.com |
| Status: | Open |
| Inception Date: | July 31, 1997 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.91% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Nomura Science and Technology C |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
