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Diversified Income Fund Class A DPDFX This annual shareholder report contains important information about Delaware Diversified Income Fund (Fund) for the period of November 1, 2023, to October 31, 2024. annual shareholder report You can find additional information about the Fund at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature.</div> You can also request this information by contacting us at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">800 523-1918</div>, weekdays from <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">8:30am to 6:00pm ET.</div> delawarefunds.com/literature 800 523-1918 This report describes changes to the Fund that occurred during the reporting period. <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">What were the  Fund's costs for the last 12 months ? </div></div> <div style="margin-top: 0; margin-bottom: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt;"><div style="font-style:italic;display:inline;">(Based on a hypothetical $10,000 investment)</div> </div> <table style="text-align:start; break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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 $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class A</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>74</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;">0.70<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 74 0.007 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 14pt;"><div style="font-weight:bold;display:inline;">Management's discussion of<div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"> </div>Fund performance</div></div> <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Performance highlights</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Diversified Income Fund (Class A) returned 12.25% (excluding sales charge) for the 12 months ended <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">October 31, 2024.</div> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 10.55%.</div> <div style="null;text-indent: 0px;"> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top contributors to performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Treasury yields fluctuated over the 12-month reporting period but ended lower as the US Federal Reserve (Fed) eventually cut interest rates. The Fund adjusted accordingly, and its positioning across the yield curve contributed to performance<div style="display:inline;">.</div><br/></div></div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Allocations to the corporate bond and structured finance sectors contributed to the Fund’s performance.<br/></div></div> <div style="null;text-indent: 0px;"> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top detractors from performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within the agency mortgage-backed securities (MBS) market, particularly the 30-year conventional lower coupons, detracted from performance. Overall mortgage rates depressed prepayments, adversely affecting agency MBS performance. <br/></div> </div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Higher volatility over the reporting period adversely affected the performance of the Fund's agency MBS holdings.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within investment grade public corporates, especially allocations within the cable and satellite industry group, detracted from performance.<br/></div> </div> <img alt="Fund Performance - Growth of 10K" src="g819201chartimages_9125782.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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%; line-height: 12pt; text-align: left;"><div style="font-weight:bold;display:inline;width:100%;">Average annual total returns </div>(<div style="font-weight:bold;display:inline;width:100%;">as of </div><div style="font-weight:bold;display:inline;width:100%;">October 31, 2024</div>)</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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">1 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">5 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">10 year</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class A) – including sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">7.25</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.44</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.29</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class A) – excluding sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">12.25</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.49</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.76</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 US Aggregate Index</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.55</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.23</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> Delaware Diversified Income Fund (Class A) – including sales charge 0.0725 -0.0044 0.0129 Delaware Diversified Income Fund (Class A) – excluding sales charge 0.1225 0.0049 0.0176 Bloomberg US Aggregate Index 0.1055 -0.0023 0.0149 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<div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;"> </div>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: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> statistics </div>(as of October 31, 2024)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,011,179,121</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">900 </td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>8,931,520</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;">106<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 3011179121 900 8931520 1.06 <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> holdings</div> (as of October 31, 2024)</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The table below shows 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;">Portfolio composition</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Corporate 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;">32.73<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Agency Mortgage-Backed Securities</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;">27.60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">US Treasury Obligations</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;">15.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Commercial Mortgage-Backed Securities</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;">8.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Loan Agreements</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;">3.94<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Asset-Backed Securities</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;">3.75<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Collateralized Mortgage Obligations</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;">2.84<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Short-Term Investments</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;">1.86<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Collateralized Debt Obligations</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;">1.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign 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;">1.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 0.3273 0.276 0.1523 0.0803 0.0394 0.0375 0.0284 0.0186 0.0125 0.0118 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 0px;"><div style="font-weight:bold;display:inline;">Material Fund changes</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective July 26, 2024, the Fund introduced a revised fee waiver for Class A shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> Effective July 26, 2024, the Fund introduced a revised fee waiver for Class A shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees). 2024-07-26 This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 Delaware Diversified Income Fund Class C DPCFX This annual shareholder report contains important information about Delaware Diversified Income Fund (Fund) for the period of November 1, 2023, to October 31, 2024. annual shareholder report You can find additional information about the Fund at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature.</div> You can also request this information by contacting us at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">800 523-1918</div>, weekdays from <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">8:30am to 6:00pm ET.</div> delawarefunds.com/literature 800 523-1918 This report describes changes to the Fund that occurred during the reporting period. <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">What were the  Fund's costs for the last 12 months ? </div></div> <div style="margin-top: 0; margin-bottom: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt;"><div style="font-style:italic;display:inline;">(Based on a hypothetical $10,000 investment)</div> </div> <table style="text-align:start; break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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 $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class C</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>153</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;">1.45<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 153 0.0145 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 14pt;"><div style="font-weight:bold;display:inline;">Management's discussion of<div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"> </div>Fund performance</div></div> <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Performance highlights</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Diversified Income Fund (Class C) returned 11.26% (excluding sales charge) for the 12 months ended <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">October 31, 2024.</div> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 10.55%.</div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top contributors to performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Treasury yields fluctuated over the 12-month reporting period but ended lower as the US Federal Reserve (Fed) eventually cut interest rates. The Fund adjusted accordingly, and its positioning across the yield curve contributed to performance.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Allocations to the corporate bond and structured finance sectors contributed to the Fund’s performance.<br/></div></div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top detractors from performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within the agency mortgage-backed securities (MBS) market, particularly the 30-year conventional lower coupons, detracted from performance. Overall mortgage rates depressed prepayments, adversely affecting agency MBS performance. <br/></div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Higher volatility over the reporting period adversely affected the performance of the Fund's agency MBS holdings.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within investment grade public corporates, especially allocations within the cable and satellite industry group, detracted from performance.<br/></div> </div> <img alt="Fund Performance - Growth of 10K" src="g819201chartimages_9125820.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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%; line-height: 12pt; text-align: left;"><div style="font-weight:bold;display:inline;width:100%;">Average annual total returns </div>(<div style="font-weight:bold;display:inline;width:100%;">as of </div><div style="font-weight:bold;display:inline;width:100%;">October 31, 2024</div>)</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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">1 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">5 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">10 year</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class C) – including sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.26 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.29 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.99 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class C) – excluding sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">11.26</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.29</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.99</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 US Aggregate Index</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.55 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.23 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> Delaware Diversified Income Fund (Class C) – including sales charge 0.1026 -0.0029 0.0099 Delaware Diversified Income Fund (Class C) – excluding sales charge 0.1126 -0.0029 0.0099 Bloomberg US Aggregate Index 0.1055 -0.0023 0.0149 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<div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;"> </div>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: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> statistics </div>(as of <div style="letter-spacing: 0px; top: 0px;display:inline;">October </div>31, 2024)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,011,179,121</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">900 </td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>8,931,520</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;">106<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 3011179121 900 8931520 1.06 <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> holdings</div> (as of October 31, 2024)</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The table below shows 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;">Portfolio composition</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Corporate 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;">32.73<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Agency Mortgage-Backed Securities</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;">27.60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">US Treasury Obligations</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;">15.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Commercial Mortgage-Backed Securities</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;">8.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Loan Agreements</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;">3.94<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Asset-Backed Securities</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;">3.75<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Collateralized Mortgage Obligations</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;">2.84<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Short-Term Investments</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;">1.86<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Collateralized Debt Obligations</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;">1.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign 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;">1.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 0.3273 0.276 0.1523 0.0803 0.0394 0.0375 0.0284 0.0186 0.0125 0.0118 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 0px;"><div style="font-weight:bold;display:inline;">Material Fund changes</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective July 26, 2024, the Fund introduced a revised fee waiver for Class C shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> Effective July 26, 2024, the Fund introduced a revised fee waiver for Class C shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees). 2024-07-26 This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 Delaware Diversified Income Fund Class R DPRFX This annual shareholder report contains important information about Delaware Diversified Income Fund (Fund) for the period of November 1, 2023, to October 31, 2024. annual shareholder report You can find additional information about the Fund at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature.</div> You can also request this information by contacting us at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">800 523-1918</div>, weekdays from <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">8:30am to 6:00pm ET.</div> delawarefunds.com/literature 800 523-1918 This report describes changes to the Fund that occurred during the reporting period. <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">What were the  Fund's costs for the last 12 months ? </div></div> <div style="margin-top: 0; margin-bottom: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt;"><div style="font-style:italic;display:inline;">(Based on a hypothetical $10,000 investment)</div> </div> <table style="text-align:start; break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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 $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>101</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;">0.95<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 101 0.0095 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 14pt;"><div style="font-weight:bold;display:inline;">Management's discussion of<div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"> </div>Fund performance</div></div> <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Performance highlights</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Diversified Income Fund (Class R) returned 11.98% (excluding sales charge) for the 12 months ended <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">October 31, 2024.</div> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 10.55%.</div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Top contributors to performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Treasury yields fluctuated over the 12-month reporting period but ended lower as the US Federal Reserve (Fed) eventually cut interest rates. The Fund adjusted accordingly, and its positioning across the yield curve contributed to performance.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Allocations to the corporate bond and structured finance sectors contributed to the Fund’s performance.<br/></div></div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Top detractors from performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within the agency mortgage-backed securities (MBS) market, particularly the 30-year conventional lower coupons, detracted from performance. Overall mortgage rates depressed prepayments, adversely affecting agency MBS performance. <br/></div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Higher volatility over the reporting period adversely affected the performance of the Fund's agency MBS holdings.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within investment grade public corporates, especially allocations within the cable and satellite industry group, detracted from performance.<br/></div> </div> <img alt="Fund Performance - Growth of 10K" src="g819201chartimages_9125858.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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%; line-height: 12pt; text-align: left;"><div style="font-weight:bold;display:inline;width:100%;">Average annual total returns </div>(<div style="font-weight:bold;display:inline;width:100%;">as of </div><div style="font-weight:bold;display:inline;width:100%;">October 31, 2024</div>)</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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">1 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">5 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">10 year</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class R) – including sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">11.98 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.21 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class R) – excluding sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">11.98</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.21</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 US Aggregate Index</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.55 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.23 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> Delaware Diversified Income Fund (Class R) – including sales charge 0.1198 0.0021 0.0149 Delaware Diversified Income Fund (Class R) – excluding sales charge 0.1198 0.0021 0.0149 Bloomberg US Aggregate Index 0.1055 -0.0023 0.0149 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<div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;"> </div>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: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> statistics </div>(as of October 31, 2024)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,011,179,121</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">900 </td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>8,931,520</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;">106<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 3011179121 900 8931520 1.06 <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> holdings</div> (as of October 31, 2024)</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The table below shows 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;">Portfolio composition</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Corporate 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;">32.73<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Agency Mortgage-Backed Securities</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;">27.60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">US Treasury Obligations</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;">15.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Commercial Mortgage-Backed Securities</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;">8.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Loan Agreements</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;">3.94<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Asset-Backed Securities</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;">3.75<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Collateralized Mortgage Obligations</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;">2.84<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Short-Term Investments</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;">1.86<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Collateralized Debt Obligations</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;">1.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign 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;">1.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 0.3273 0.276 0.1523 0.0803 0.0394 0.0375 0.0284 0.0186 0.0125 0.0118 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 0px;"><div style="font-weight:bold;display:inline;">Material Fund changes</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective July 26, 2024, the Fund introduced a revised fee waiver for Class R shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;"></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> Effective July 26, 2024, the Fund introduced a revised fee waiver for Class R shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees). 2024-07-26 This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 Delaware Diversified Income Fund Institutional Class DPFFX This annual shareholder report contains important information about Delaware Diversified Income Fund (Fund) for the period of November 1, 2023, to October 31, 2024. annual shareholder report You can find additional information about the Fund at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature.</div> You can also request this information by contacting us at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">800 523-1918</div>, weekdays from <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">8:30am to 6:00pm ET.</div> delawarefunds.com/literature 800 523-1918 This report describes changes to the Fund that occurred during the reporting period. <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">What were the  Fund's costs for the last 12 months ? </div></div> <div style="margin-top: 0; margin-bottom: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt;"><div style="font-style:italic;display:inline;">(Based on a hypothetical $10,000 investment)</div> </div> <table style="text-align:start; break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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 $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Institutional Class</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>48</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;">0.45<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 48 0.0045 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 14pt;"><div style="font-weight:bold;display:inline;">Management's discussion of<div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"> </div>Fund performance</div></div> <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Performance highlights</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Diversified Income Fund (Institutional Class) returned 12.53% (excluding sales charge) for the 12 months ended <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">October 31, 2024.</div> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 10.55%.</div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Top contributors to performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Treasury yields fluctuated over the 12-month reporting period but ended lower as the US Federal Reserve (Fed) eventually cut interest rates. The Fund adjusted accordingly, and its positioning across the yield curve contributed to performance.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Allocations to the corporate bond and structured finance sectors contributed to the Fund’s performance.<br/></div></div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Top detractors from performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within the agency mortgage-backed securities (MBS) market, particularly the 30-year conventional lower coupons, detracted from performance. Overall mortgage rates depressed prepayments, adversely affecting agency MBS performance. <br/></div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Higher volatility over the reporting period adversely affected the performance of the Fund's agency MBS holdings.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within investment grade public corporates, especially allocations within the cable and satellite industry group, detracted from performance.<br/></div> </div> <img alt="Fund Performance - Growth of 10K" src="g819201chartimages_9125934.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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%; line-height: 12pt; text-align: left;"><div style="font-weight:bold;display:inline;width:100%;">Average annual total returns </div>(<div style="font-weight:bold;display:inline;width:100%;">as of </div><div style="font-weight:bold;display:inline;width:100%;">October 31, 2024</div>)</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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">1 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">5 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">10 year</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Institutional Class) – including sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">12.53 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.71 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">2.00 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Institutional Class) – excluding sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">12.53</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.71</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">2.00</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 US Aggregate Index</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.55 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">-0.23 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.49 </td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> Delaware Diversified Income Fund (Institutional Class) – including sales charge 0.1253 0.0071 0.02 Delaware Diversified Income Fund (Institutional Class) – excluding sales charge 0.1253 0.0071 0.02 Bloomberg US Aggregate Index 0.1055 -0.0023 0.0149 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<div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;"> </div>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: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> statistics </div>(as of October 31, 2024)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,011,179,121</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">900 </td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>8,931,520</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;">106<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 3011179121 900 8931520 1.06 <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> holdings</div> (as of October 31, 2024)</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The table below shows the investment makeup of the Fund, with each category representing a percentage of the <div style="letter-spacing: 0px; top: 0px;display:inline;">total </div>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;">Portfolio composition</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Corporate 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;">32.73<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Agency Mortgage-Backed Securities</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;">27.60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">US Treasury Obligations</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;">15.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Commercial Mortgage-Backed Securities</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;">8.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Loan Agreements</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;">3.94<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Asset-Backed Securities</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;">3.75<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Collateralized Mortgage Obligations</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;">2.84<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Short-Term Investments</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;">1.86<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Collateralized Debt Obligations</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;">1.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign 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;">1.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 0.3273 0.276 0.1523 0.0803 0.0394 0.0375 0.0284 0.0186 0.0125 0.0118 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 0px;"><div style="font-weight:bold;display:inline;">Material Fund changes</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective July 26, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> Effective July 26, 2024, the Fund introduced a revised fee waiver for Institutional Class shares of 0.42% (excluding certain items, such as distribution and service (12b-1) fees). 2024-07-26 This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918 Delaware Diversified Income Fund Class R6 DPZRX This annual shareholder report contains important information about Delaware Diversified Income Fund (Fund) for the period of November 1, 2023, to October 31, 2024. annual shareholder report You can find additional information about the Fund at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature.</div> You can also request this information by contacting us at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">800 523-1918</div>, weekdays from <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">8:30am to 6:00pm ET.</div> delawarefunds.com/literature 800 523-1918 This report describes changes to the Fund that occurred during the reporting period. <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">What were the  Fund's costs for the last 12 months ? </div></div> <div style="margin-top: 0; margin-bottom: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt;"><div style="font-style:italic;display:inline;">(Based on a hypothetical $10,000 investment)</div> </div> <table style="text-align:start; break-inside: avoid-page; table-layout: auto; width: 100%; border-collapse: collapse;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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 $10,000 investment</td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;">Class R6</td> <td style="break-inside: avoid-page; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-right: 6pt; padding-bottom: 0; padding-left: 6pt; text-align: center; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>38</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;">0.36<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 38 0.0036 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 14pt;"><div style="font-weight:bold;display:inline;">Management's discussion of<div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"> </div>Fund performance</div></div> <div style="margin-top: 0px; font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-bottom: 3pt;"><div style="font-weight:bold;display:inline;">Performance highli<div style="letter-spacing: 0px; top: 0px;display:inline;">gh</div>ts</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">Delaware Diversified Income Fund (Class R6) returned 12.63% (excluding sales charge) for the 12 months ended <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">October 31, 2024.</div> During the same period, the Bloomberg US Aggregate Index, the Fund's broad-based securities market index, returned 10.55%.</div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top contributors to performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Treasury yields fluctuated over the 12-month reporting period but ended lower as the US Federal Reserve (Fed) eventually cut interest rates. The Fund adjusted accordingly, and its positioning across the yield curve contributed to performance.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Allocations to the corporate bond and structured finance sectors contributed to the Fund’s performance.<br/></div></div> <div style="font-family: Arial; color: rgb(0, 0, 0); text-transform: none; letter-spacing: normal; font-size: 10pt; margin-top: 15pt; margin-bottom: 3pt;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Top detractors from performance:</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within the agency mortgage-backed securities (MBS) market, particularly the 30-year conventional lower coupons, detracted from performance. Overall mortgage rates depressed prepayments, adversely affecting agency MBS performance. <br/></div> </div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Higher volatility over the reporting period adversely affected the performance of the Fund's agency MBS holdings.<br/></div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 0; margin-left: 26pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Selection within investment grade public corporates, especially allocations within the cable and satellite industry group, detracted from performance.<br/></div> </div> <img alt="Fund Performance - Growth of 10K" src="g819201chartimages_9125896.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 468pt;"/> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-style: solid; border-bottom-width: 1pt; break-inside: avoid-page; 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%; line-height: 12pt; text-align: left;"><div style="font-weight:bold;display:inline;width:100%;">Average annual total returns </div>(<div style="font-weight:bold;display:inline;width:100%;">as of </div><div style="font-weight:bold;display:inline;width:100%;">October 31, 2024</div>)</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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">1 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">5 year</div></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; line-height: 12pt;"><div style="font-weight:bold;display:inline;width:100%;">Since inception</div><div style="font-weight:bold;display:inline;width:100%;"><br/>(5/2/16)</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class R6) – including sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">12.63</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.80</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">2.21</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 Diversified Income Fund (Class R6) – excluding sales charge</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">12.63</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">0.80</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">2.21</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 1pt; border-bottom-style: solid; break-inside: avoid-page; 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 US Aggregate Index</td> <td style="padding-right: 0; break-inside: avoid-page; 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;">10.55</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding: 6pt 0px 3pt; break-inside: avoid-page; text-align: right; vertical-align: middle; font-family: Arial; color: rgb(0, 0, 0); font-size: 10pt; white-space: nowrap;">-0.23</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> <td style="padding-right: 0; break-inside: avoid-page; 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;">1.22</td> <td style="padding-left: 0; padding-right: 0; break-inside: avoid-page; 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;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 2016-05-02 Delaware Diversified Income Fund (Class R6) – including sales charge 0.1263 0.008 0.0221 Delaware Diversified Income Fund (Class R6) – excluding sales charge 0.1263 0.008 0.0221 Bloomberg US Aggregate Index 0.1055 -0.0023 0.0122 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<div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;"> </div>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-bottom: 5.5pt;"> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> statistics </div>(as of October 31, 2024)</div> </div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,011,179,121</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total number of portfolio holdings</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;">900 </td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: 20pt; border-bottom-color: rgb(0, 0, 0);"> <td style="break-inside: avoid-page; vertical-align: middle; padding-left: 0; padding-right: 0; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt; text-align: left; font-family: 'Arial'; font-weight: normal; width: 75%;">Total advisory fees paid</td> <td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; padding-left: 0; padding-right: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; padding-top: 6pt; padding-bottom: 6pt;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>8,931,520</td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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;">106<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 3011179121 900 8931520 1.06 <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;"><div style="font-size: 12pt;font-weight:bold;display:inline;">Fund</div> <div style="font-size: 12pt;font-weight:bold;display:inline;"> holdings</div> (as of October 31, 2024)</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; margin-bottom: 10pt; line-height: 110%;">The table below shows 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;">Portfolio composition</div> <table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page;"> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Corporate 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;">32.73<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Agency Mortgage-Backed Securities</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;">27.60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">US Treasury Obligations</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;">15.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Commercial Mortgage-Backed Securities</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;">8.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Loan Agreements</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;">3.94<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Asset-Backed Securities</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;">3.75<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Non-Agency Collateralized Mortgage Obligations</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;">2.84<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Short-Term Investments</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;">1.86<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; 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;">Collateralized Debt Obligations</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;">1.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> <tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; 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: 3pt; padding-bottom: 1pt; padding-left: 6pt; vertical-align: bottom; text-indent: -6pt;">Sovereign 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;">1.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td> </tr> </table> 0.3273 0.276 0.1523 0.0803 0.0394 0.0375 0.0284 0.0186 0.0125 0.0118 <div style="font-family: Arial; color: rgb(0, 0, 0); font-size: 12pt; margin-bottom: 10pt; margin-top: 0px;"><div style="font-weight:bold;display:inline;">Material Fund changes</div></div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">Effective July 26, 2024, the Fund introduced a revised fee waiver for Class R6 shares of 0.33% (excluding certain items, such as distribution and service (12b-1) fees).</div> <div style="margin-top: 0; font-family: 'Arial'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 110%; margin-bottom: 5pt;">This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET.</div> Effective July 26, 2024, the Fund introduced a revised fee waiver for Class R6 shares of 0.33% (excluding certain items, such as distribution and service (12b-1) fees). 2024-07-26 This is a summary of certain changes to the Fund since the beginning of the reporting period. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2025, at <div style="white-space: nowrap; font-family: inherit; font-size: inherit; line-height: inherit; margin: inherit; padding: inherit; letter-spacing: 0px; top: 0px;display:inline;">delawarefunds.com/literature</div> or upon request at 800 523-1918, weekdays from 8:30am to 6:00pm ET. delawarefunds.com/literature 800 523-1918