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delawarefunds.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 <div style="margin-top: 0px; font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;"><b>What were the Fund's costs for the last 12 months?</b></div> <div style="margin-top: 0px; margin-bottom: 0px; font-family: 'arial'; color: #000000; font-size: 10pt;"><i>(Based on a hypothetical $10,000 investment)</i></div> <table style="break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="break-inside: avoid-page; border-bottom-style: solid; border-bottom-width: 1pt; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; text-align: center; padding: 6pt 6pt 0 6pt;">Class</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">Class A</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;"><span style="float: none;">$</span>88</td> <td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; vertical-align: bottom; padding: 6pt 6pt 0 6pt;">0.84<span>%</span></td> </tr> </table> 88 0.0084 <div style="font-family: 'arial'; color: #000000; font-size: 12pt; font-weight: bold; margin-bottom: 10pt; margin-top: 14pt;" title="oef:FactorsAffectingPerfTextBlock">Management’s discussion of Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Performance highlights</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Tax-Free Arizona Fund (Class A) returned 10.39% (excluding sales charge) for the 12 months ended <span style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">August 31, 2024.</span> During the same period, the Bloomberg Municipal Bond Index, the Fund's broad-based securities market index, returned 6.09%.</div> <div style="font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top contributors to performance:</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Municipal yields fell over the fiscal year against a backdrop of slowing inflation and anticipation that the US Federal Reserve (Fed) would eventually cut rates. As a result, the longer end of the curve outperformed.</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Lower-investment-grade and below-investment-grade segments drove performance. The catalyst was a strong technical backdrop of diminutive high yield issuance coupled with inflows to municipal mutual funds, particularly high yield funds.</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Key contributors to performance included:</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to the long bond (22+ years) segment of the curve</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Overweight to BBB-rated credit</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Meaningful out-of-benchmark allocation to below-investment-grade securities</div> <div style="font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-top: 15pt; margin-bottom: 3pt;">Top detractors from performance:</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">The front end of the curve – which is, by its nature, shorter in duration – detracted from performance over the fiscal year, as this maturity segment lagged relative to the intermediate and long ends of the curve.</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 26pt;">Key detractors from performance included:</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Modest out-of-benchmark allocation to the front end (0-1 year) of the curve</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 0px; margin-left: 50pt;">Allocation to pre-refunded bonds, predominantly on the front end of the curve</div> <div style="break-before: always; margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 12pt; font-weight: bold; margin-bottom: 10pt;">Fund performance</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; padding: inherit; margin: inherit;">broad-based</span> securities market index for the same period and the deduction of the maximum applicable sales charge for Class A shares.</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; font-weight: bold; margin-bottom: 3pt;">Growth of $10,000 investment</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">For the period August 31, 2014, through August 31, 2024</div> <div style="margin-bottom: 20pt;"> <img alt="Fund Performance - Growth of 10K" src="g878149chartimages_8507940.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width: 100%; break-inside: avoid-page; border-collapse: collapse;" title="oef:AvgAnnlRtrTableTextBlock"> <tr style="break-inside: avoid-page; border-bottom-style: solid; border-bottom-width: 1pt; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; text-indent: 0; width: 60%; text-align: left; padding: 6pt 0 3pt 0;">Average annual total returns (as of August 31, 2024)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; padding: 6pt 0 3pt 0;">1 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; padding: 6pt 0 3pt 0;">5 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: center; padding: 6pt 0 3pt 0;">10 year</td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 1pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: #000000; font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; padding: 6pt 0 3pt 0;">Delaware Tax-Free Arizona Fund (Class A) – including sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">5.43</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">-0.06</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">1.82</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 1pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: #000000; font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; padding: 6pt 0 3pt 0;">Delaware Tax-Free Arizona Fund (Class A) – excluding sales charge</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">10.39</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">0.86</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">2.29</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 1pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: #000000; font-size: 10pt; font-family: 'Arial'; text-indent: 0; width: 75%; padding: 6pt 0 3pt 0;">Bloomberg Municipal Bond Index</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">6.09</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">1.02</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 3pt 0;">2.43</td> <td style="break-inside: avoid-page; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; width: 18pt; padding: 6pt 0 3pt 0;"><span>%</span></td> </tr> </table> Delaware Tax-Free Arizona Fund (Class A) – including sales charge 0.0543 -0.0006 0.0182 Delaware Tax-Free Arizona Fund (Class A) – excluding sales charge 0.1039 0.0086 0.0229 Bloomberg Municipal Bond Index 0.0609 0.0102 0.0243 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit delawarefunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund statistics </b>(as of August 31, 2024)</div> <table style="width: 100%; break-inside: avoid-page; border-collapse: collapse;"> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; color: #000000; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>57,940,011</td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; color: #000000; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 6pt 0;">82</td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; color: #000000; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 6pt 0;"><span style="float: none;">$</span>126,515</td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: 20pt; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; vertical-align: middle; color: #000000; font-size: 10pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%; padding: 6pt 0 6pt 0;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; padding: 6pt 0 6pt 0;">18<span>%</span></td> </tr> </table> 57940011 82 126515 0.18 <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><b style="font-size: 12pt;">Fund holdings</b> (as of August 31, 2024)</div> <div style="margin-top: 0px; font-family: 'arial'; color: #000000; font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: #000000; text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">Sector allocation</div> <table style="width: 100%; break-inside: avoid-page; border-collapse: collapse;"> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Education Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">28.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Healthcare Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">23.50<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Special Tax Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">15.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Electric Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">9.89<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Industrial Development Revenue/Pollution Control<br/>Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">7.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Transportation Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">5.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Local General Obligation Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">3.98<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Lease Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">2.61<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;">Water &amp; Sewer Revenue Bond</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;">1.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong> </strong></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong> </strong></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong> </strong></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong> </strong></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 3pt 1pt 6pt;"><strong> </strong></td> <td style="break-inside: avoid-page; text-align: right; vertical-align: bottom; padding: 1pt 3pt 1pt 3pt;"><strong> </strong></td> </tr> </table> <div style="border-bottom-width: 1pt; border-bottom-style: solid; font-family: 'arial'; color: #000000; text-transform: none; letter-spacing: normal; font-size: 10pt; border-bottom-color: #000000; text-align: center; padding-bottom: 5pt; margin-bottom: 5pt; margin-top: 5pt;">State and territory allocation </div> <table style="width: 100%; break-inside: avoid-page; border-collapse: collapse;"> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 1pt 1pt 6pt;">Arizona</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt;">81.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: initial; border-bottom-style: none; border-bottom-color: initial; height: auto;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 1pt 1pt 6pt;">Puerto Rico</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt;">16.29<span>%</span></td> </tr> <tr style="break-inside: avoid-page; border-bottom-width: 0.5pt; border-bottom-style: solid; height: auto; border-bottom-color: #000000;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: #000000; font-size: 10pt; text-align: left; vertical-align: bottom; text-indent: -6pt; padding: 1pt 1pt 1pt 6pt;">US Virgin Islands</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: #000000; font-size: 10pt; vertical-align: bottom; padding: 1pt;">0.55<span>%</span></td> </tr> </table> 0.2804 0.2350 0.1595 0.0989 0.0700 0.0594 0.0398 0.0261 0.0171 0.8178 0.1629 0.0055 Delaware Tax-Free Arizona Fund Class C DVACX This annual shareholder report contains important information about Delaware Tax-Free Arizona Fund (Fund) for the period of September 1, 2023, to August 31, 2024. annual shareholder report You can find additional information about the Fund at delawarefunds.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last 12 months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="break-inside:avoid-page;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class C</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="float:none">$</span>167</td> <td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">1.59<span>%</span></td> </tr> </table> 167 0.0159 <div style="font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;margin-top:14pt;" title="oef:FactorsAffectingPerfTextBlock">Management’s discussion of Fund performance</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;">Performance highlights</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">Delaware Tax-Free Arizona Fund (Class C) returned 9.66% (excluding sales charge) for the 12 months ended <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">August 31, 2024.</span> During the same period, the Bloomberg Municipal Bond Index, the Fund's broad-based securities market index, returned 6.09%.</div><div style="font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-top:15pt;margin-bottom:3pt;">Top contributors to performance:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Municipal yields fell over the fiscal year against a backdrop of slowing inflation and anticipation that the US Federal Reserve (Fed) would eventually cut rates. As a result, the longer end of the curve outperformed.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Lower-investment-grade and below-investment-grade segments drove performance. The catalyst was a strong technical backdrop of diminutive high yield issuance coupled with inflows to municipal mutual funds, particularly high yield funds.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Key contributors to performance included:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Overweight to the long bond (22+ years) segment of the curve</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Overweight to BBB-rated credit</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Meaningful out-of-benchmark allocation to below-investment-grade securities</div><div style="font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-top:15pt;margin-bottom:3pt;">Top detractors from performance:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">The front end of the curve – which is, by its nature, shorter in duration – detracted from performance over the fiscal year, as this maturity segment lagged relative to the intermediate and long ends of the curve. </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Key detractors from performance included: </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Modest out-of-benchmark allocation to the front end (0-1 year) of the curve</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Allocation to pre-refunded bonds, predominantly on the front end of the curve</div> <div style="break-before:always;margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund performance</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">broad-based</span> securities market index for the same period.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;">Growth of $10,000 investment</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">For the period August 31, 2014, through August 31, 2024</div><div style="margin-bottom:20pt;"> <img alt="Fund Performance - Growth of 10K" src="g878149chartimages_8507978.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse" title="oef:AvgAnnlRtrTableTextBlock"> <tr style="break-inside:avoid-page;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-indent: 0; width: 60%; text-align: left;">Average annual total returns (as of August 31, 2024)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">1 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">5 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">10 year</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Delaware Tax-Free Arizona Fund (Class C) – including sales charge</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">8.66</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">0.11</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.53</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Delaware Tax-Free Arizona Fund (Class C) – excluding sales charge</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">9.66</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">0.11</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.53</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Bloomberg Municipal Bond Index</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">6.09</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.02</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">2.43</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> </table> Delaware Tax-Free Arizona Fund (Class C) – including sales charge 0.0866 0.0011 0.0153 Delaware Tax-Free Arizona Fund (Class C) – excluding sales charge 0.0966 0.0011 0.0153 Bloomberg Municipal Bond Index 0.0609 0.0102 0.0243 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit delawarefunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of August 31, 2024)</div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="float:none">$</span>57,940,011</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">82</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="float:none">$</span>126,515</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">18<span>%</span></td> </tr> </table> 57940011 82 126515 0.18 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of August 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Education Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">28.04<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">23.50<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Special Tax Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.95<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Electric Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.89<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrial Development Revenue/Pollution Control<br/> Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.94<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Local General Obligation Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.98<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Lease Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.61<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Water &amp; Sewer Revenue Bond</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.71<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">State and territory allocation </div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Arizona</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">81.78<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Puerto Rico</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">16.29<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Virgin Islands</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.55<span>%</span></td> </tr> </table> 0.2804 0.2350 0.1595 0.0989 0.0700 0.0594 0.0398 0.0261 0.0171 0.8178 0.1629 0.0055 Delaware Tax-Free Arizona Fund Institutional Class DAZIX This annual shareholder report contains important information about Delaware Tax-Free Arizona Fund (Fund) for the period of September 1, 2023, to August 31, 2024. annual shareholder report You can find additional information about the Fund at delawarefunds.com/literature. You can also request this information by contacting us at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;"> <b>What were the Fund's costs for the last 12 months?</b> </div><div style="margin-top:0px;margin-bottom:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div> <table style="break-inside:avoid-page;table-layout:auto;width:100%;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center;">Class</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs of a $10,000 investment</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: center; vertical-align: bottom; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt;">Costs paid as a percentage of a $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;height:20pt;border-bottom-color:initial"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Institutional Class</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"> <span style="float:none">$</span>62</td> <td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">0.59<span>%</span></td> </tr> </table> 62 0.0059 <div style="font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;margin-top:14pt;" title="oef:FactorsAffectingPerfTextBlock">Management’s discussion of Fund performance</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;">Performance highlights</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">Delaware Tax-Free Arizona Fund (Institutional Class) returned 10.66% (excluding sales charge) for the 12 months ended <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">August 31, 2024.</span> During the same period, the Bloomberg Municipal Bond Index, the Fund's broad-based securities market index, returned 6.09%.</div><div style="font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-top:15pt;margin-bottom:3pt;">Top contributors to performance:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Municipal yields fell over the fiscal year against a backdrop of slowing inflation and anticipation that the US Federal Reserve (Fed) would eventually cut rates. As a result, the longer end of the curve outperformed.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Lower-investment-grade and below-investment-grade segments drove performance. The catalyst was a strong technical backdrop of diminutive high yield issuance coupled with inflows to municipal mutual funds, particularly high yield funds.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Key contributors to performance included:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Overweight to the long bond (22+ years) segment of the curve</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Overweight to BBB-rated credit</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Meaningful out-of-benchmark allocation to below-investment-grade securities</div><div style="font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-top:15pt;margin-bottom:3pt;">Top detractors from performance:</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">The front end of the curve – which is, by its nature, shorter in duration – detracted from performance over the fiscal year, as this maturity segment lagged relative to the intermediate and long ends of the curve. </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:26pt;">Key detractors from performance included: </div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Modest out-of-benchmark allocation to the front end (0-1 year) of the curve</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:0px;margin-left:50pt;">Allocation to pre-refunded bonds, predominantly on the front end of the curve</div> <div style="break-before:always;margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:12pt;font-weight:bold;margin-bottom:10pt;">Fund performance</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Class. It also assumes a $10,000 initial investment at the beginning of the first full fiscal year in a <span style="white-space:nowrap;font-family:inherit;font-size:inherit;line-height:inherit;margin-top:inherit;margin-right:inherit;margin-bottom:inherit;margin-left:inherit;padding-top:inherit;padding-right:inherit;padding-bottom:inherit;padding-left:inherit">broad-based</span> securities market index for the same period.</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;font-weight:bold;margin-bottom:3pt;">Growth of $10,000 investment</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">For the period August 31, 2014, through August 31, 2024</div><div style="margin-bottom:20pt;"> <img alt="Fund Performance - Growth of 10K" src="g878149chartimages_8508016.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> </div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse" title="oef:AvgAnnlRtrTableTextBlock"> <tr style="break-inside:avoid-page;border-bottom-style:solid;border-bottom-width:1pt;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-indent: 0; width: 60%; text-align: left;">Average annual total returns (as of August 31, 2024)</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">1 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">5 year</td> <td colspan="2" style="break-inside: avoid-page; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; text-align: center;">10 year</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Delaware Tax-Free Arizona Fund (Institutional Class) – including sales charge</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">10.66</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.12</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">2.54</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Delaware Tax-Free Arizona Fund (Institutional Class) – excluding sales charge</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">10.66</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.12</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">2.54</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:1pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; text-align: left; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; text-indent: 0; width: 75%;">Bloomberg Municipal Bond Index</td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">6.09</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">1.02</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> <td style="break-inside: avoid-page; padding-right: 0; text-align: right; vertical-align: middle; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; padding-left: 0;">2.43</td> <td style="break-inside: avoid-page; padding-left: 0; padding-right: 0; vertical-align: middle; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 3pt; text-align: left; width: 18pt;"> <span>%</span> </td> </tr> </table> Delaware Tax-Free Arizona Fund (Institutional Class) – including sales charge 0.1066 0.0112 0.0254 Delaware Tax-Free Arizona Fund (Institutional Class) – excluding sales charge 0.1066 0.0112 0.0254 Bloomberg Municipal Bond Index 0.0609 0.0102 0.0243 Keep in mind that the Fund's past performance is not a good predictor of how the Fund will perform in the future. Visit delawarefunds.com/performance for the most recent performance information. The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;"> <b style="font-size: 12pt;">Fund statistics </b>(as of August 31, 2024)</div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Fund net assets</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="float:none">$</span>57,940,011</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">82</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"> <span style="float:none">$</span>126,515</td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:20pt;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Portfolio turnover rate</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">18<span>%</span></td> </tr> </table> 57940011 82 126515 0.18 <div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;"> <b style="font-size: 12pt;">Fund holdings</b> (as of August 31, 2024)</div><div style="margin-top:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:10pt;margin-bottom:10pt;line-height:110%;">The tables below show the investment makeup of the Fund, with each category representing a percentage of the total net assets of the Fund.</div><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">Sector allocation</div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Education Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">28.04<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Healthcare Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">23.50<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Special Tax Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">15.95<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Electric Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">9.89<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Industrial Development Revenue/Pollution Control<br/> Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">7.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Transportation Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">5.94<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Local General Obligation Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">3.98<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Lease Revenue Bonds</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">2.61<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Water &amp; Sewer Revenue Bond</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;">1.71<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; text-align: left; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;"> <strong> </strong> </td> <td style="break-inside: avoid-page; text-align: right; padding-top: 1pt; padding-right: 3pt; padding-bottom: 1pt; padding-left: 3pt; vertical-align: bottom;"> <strong> </strong> </td> </tr> </table><div style="border-bottom-width:1pt;border-bottom-style:solid;font-family:'arial';color:rgb(0, 0, 0);text-transform:none;letter-spacing:normal;font-size:10pt;border-bottom-color:rgb(0, 0, 0);text-align:center;padding-bottom:5pt;margin-bottom:5pt;margin-top:5pt;">State and territory allocation </div> <table style="width:100%;break-inside:avoid-page;border-collapse:collapse"> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Arizona</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">81.78<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:initial;border-bottom-style:none;border-bottom-color:initial;height:auto"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Puerto Rico</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">16.29<span>%</span></td> </tr> <tr style="break-inside:avoid-page;border-bottom-width:0.5pt;border-bottom-style:solid;height:auto;border-bottom-color:rgb(0, 0, 0)"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; text-align: left; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">US Virgin Islands</td> <td style="break-inside: avoid-page; text-align: right; white-space: nowrap; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 1pt; padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; vertical-align: bottom;">0.55<span>%</span></td> </tr> </table> 0.2804 0.2350 0.1595 0.0989 0.0700 0.0594 0.0398 0.0261 0.0171 0.8178 0.1629 0.0055