https://www.sec.gov/Archives/edgar/data/883622/000119312520155476/d922334d497.htm497 1 d922334d497.htm IVY PROSHARES PROSPECTUS SUPPLEMENT
Ivy Funds
Supplement dated May 29, 2020 to the
Ivy ProShares Index Funds Prospectus
dated January 31, 2020 as supplemented March 13, 2020, April 1, 2020, April 10, 2020 and April 30, 2020
The Board of Trustees of Ivy Funds (the “Trust”) has approved the liquidation of Class R shares of Ivy ProShares MSCI ACWI Index Fund and Ivy ProShares Russell 2000 Dividend Growers Index Fund, each a series of the Trust (each, a “Fund” and collectively, the “Funds”).
Accordingly, effective on or about June 12, 2020 (the “Closing Date”), Class R shares of each Fund will be closed to further investment, excluding reinvestment of any dividends and distributions. On or about June 19, 2020 (the “Liquidation Date”), the assets of the Class R shares of each Fund are expected to be returned to their respective shareholders.
Prior to the Liquidation Date, and to the extent permitted by the Funds’ prospectus, shareholders may exchange their Class R shares of either Fund for Class R shares of another fund in the Ivy Funds complex without the imposition of any sales charge, fee or other charge. (Contact your plan administrator or record keeper for information about exchanging your Class R shares.)
The return of assets to shareholders of the Class R shares of each Fund will occur without the imposition of any sales charge, fee or other charge. However, the return of such assets to shareholders may result in one or more taxable events for shareholders subject to federal income tax. Investors are urged to consult their own tax advisers as to the federal, state and local tax consequences of the liquidation or an exchange...
