XML 19 R3.htm IDEA: XBRL DOCUMENT v3.22.1
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
SEC Form dei_DocumentType 485BPOS
Period end date dei_DocumentPeriodEndDate Nov. 30, 2021
Registrant Name dei_EntityRegistrantName DELAWARE GROUP EQUITY FUNDS II
Registrant CIK dei_EntityCentralIndexKey 0000027574
Amendment Flag dei_AmendmentFlag false
Prospectus Date rr_ProspectusDate Mar. 30, 2022
Risk/Return rr_RiskReturnHeading Prospectus
Class A  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol DDVAX
Class C  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol DDVCX
Class R  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol DDVRX
Institutional Class  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol DDVIX
Class R6  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol DDZRX
Delaware Value Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Objective rr_ObjectiveHeading What is the Fund’s investment objective?
Objective, Primary rr_ObjectivePrimaryTextBlock

Delaware Value Fund seeks long-term capital appreciation.

Expense rr_ExpenseHeading What are the Fund’s fees and expenses?
Expense Narrative rr_ExpenseNarrativeTextBlock

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Delaware Funds by Macquarie®. More information about these and other discounts is available from your financial intermediary, in the Fund’s Prospectus under the section entitled “About your account,” and in the Fund’s statement of additional information (SAI) under the section entitled “Purchasing Shares.”

Shareholder Fees Caption rr_ShareholderFeesCaption Shareholder fees (fees paid directly from your investment)
Operating Expenses Caption rr_OperatingExpensesCaption Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover rr_PortfolioTurnoverHeading Portfolio turnover
Portfolio Turnover rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 22% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 22.00%
Expense Breakpoint Discounts rr_ExpenseBreakpointDiscounts You may qualify for sales-charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Delaware Funds by Macquarie®.
Expense Breakpoint, Minimum Investment Required rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
Expense Example rr_ExpenseExampleHeading Example
Expense Example Narrative rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. In addition, the example shows expenses for Class C shares, assuming those shares were not redeemed at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy rr_StrategyHeading What are the Fund’s principal investment strategies?
Strategy Narrative rr_StrategyNarrativeTextBlock

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of large-capitalization companies (the 80% policy). The Fund invests primarily in securities of large-capitalization companies that the Manager believes have long-term capital appreciation potential. The Manager currently defines large-capitalization stocks as those with market capitalizations of $5 billion or greater at the time of purchase. Typically, the Manager seeks to select securities that it believes are undervalued in relation to their intrinsic value, as indicated by multiple factors, including the earnings and cash flow potential or the asset value of the respective issuers. The Manager also considers a company’s plans for future operations on a selective basis. The Manager may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Fund.

The Manager may permit its affiliates, Macquarie Investment Management Global Limited (MIMGL) and Macquarie Funds Management Hong Kong Limited (MFMHKL), to execute Fund security trades on behalf of the Manager. The Manager may also seek quantitative support from MIMGL.

The Fund’s 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days’ notice prior to any change.

Strategy Portfolio Concentration rr_StrategyPortfolioConcentration Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of large-capitalization companies (the 80% policy).
Risk rr_RiskHeading What are the principal risks of investing in the Fund?
Risk Narrative rr_RiskNarrativeTextBlock

Investing in any mutual fund involves the risk that you may lose part or all of the money you invest. Over time, the value of your investment in the Fund will increase and decrease according to changes in the value of the securities in the Fund’s portfolio. An investment in the Fund may not be appropriate for all investors. The Fund’s principal risks include:

Market risk — The risk that all or a majority of the securities in a certain market — such as the stock or bond market — will decline in value because of factors such as adverse political or economic conditions, future expectations, investor confidence, or heavy institutional selling.

Limited number of securities risk — The possibility that a single security’s increase or decrease in value may have a greater impact on a fund’s value and total return because the fund may hold larger positions in fewer securities than other funds. In addition, a fund that holds a limited number of securities may be more volatile than those funds that hold a greater number of securities.

Liquidity risk — The possibility that investments cannot be readily sold within seven calendar days at approximately the price at which a fund has valued them.

Government and regulatory risk — The risk that governments or regulatory authorities may take actions that could adversely affect various sectors of the securities markets and affect fund performance.

Industry and sector risk — The risk that the value of securities in a particular industry or sector will decline because of changing expectations for the performance of that industry or sector.

IBOR risk — The risk that changes related to the use of the London Interbank Offered Rate (LIBOR) or similar interbank offered rates (“IBORs,” such as the Euro Overnight Index Average (EONIA)) could have adverse impacts on financial instruments that reference LIBOR or a similar rate. While some instruments may contemplate a scenario where LIBOR or a similar rate is no longer available by providing for an alternative rate setting methodology, not all instruments have such fallback provisions and the effectiveness of replacement rates is uncertain. The abandonment of LIBOR and similar rates could affect the value and liquidity of instruments that reference such rates, especially those that do not have fallback provisions. The use of alternative reference rate products may impact investment strategy performance.

Active management and selection risk — The risk that the securities selected by a fund’s management will underperform the markets, the relevant indices, or the securities selected by other funds with similar investment objectives and investment strategies. The securities and sectors selected may vary from the securities and sectors included in the relevant index.

None of the entities noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this document relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

Risk Closing rr_RiskClosingTextBlock

None of the entities noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this document relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

Risk Lose Money rr_RiskLoseMoney Investing in any mutual fund involves the risk that you may lose part or all of the money you invest. Over time, the value of your investment in the Fund will increase and decrease according to changes in the value of the securities in the Fund’s portfolio.
Bar Chart and Performance Table rr_BarChartAndPerformanceTableHeading How has Delaware Value® Fund performed?
Performance Narrative rr_PerformanceNarrativeTextBlock The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual total returns for the 1-, 5-, and 10-year or lifetime periods compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. The returns reflect any expense caps in effect during these periods. The returns would be lower without the expense caps. You may obtain the Fund’s most recently available month-end performance by calling 800 523-1918 or by visiting our website at delawarefunds.com/performance.
Performance Availability Phone rr_PerformanceAvailabilityPhone 800 523-1918
Performance Availability Website Address rr_PerformanceAvailabilityWebSiteAddress delawarefunds.com/performance
Performance Past Does Not Indicate Future rr_PerformancePastDoesNotIndicateFuture The Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart Closing rr_BarChartClosingTextBlock

During the periods illustrated in this bar chart, Class A’s highest quarterly return was 15.32% for the quarter ended June 30, 2020, and its lowest quarterly return was -26.71% for the quarter ended March 31, 2020. The maximum Class A sales charge of 5.75%, which is normally deducted when you purchase shares, is not reflected in the highest/lowest quarterly returns or in the bar chart. If this fee were included, the returns would be less than those shown. The average annual total returns in the table below do include the sales charge.

Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate The after-tax returns shown are calculated using the highest individual federal marginal income tax rates in effect during the periods presented and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant for shares held in tax-advantaged investment vehicles such as employer-sponsored 401(k) plans and individual retirement accounts (IRAs).
Performance Table One Class of after Tax Shown rr_PerformanceTableOneClassOfAfterTaxShown After-tax performance is presented only for Class A shares of the Fund.
Performance Table Footnotes rr_PerformanceTableFootnotesTextBlock Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.
Performance Table Closing rr_PerformanceTableClosingTextBlock

After-tax performance is presented only for Class A shares of the Fund. The after-tax returns for other Fund classes may vary. Actual after-tax returns depend on the investor’s individual tax situation and may differ from the returns shown. After-tax returns are not relevant for shares held in tax-advantaged investment vehicles such as employer-sponsored 401(k) plans and individual retirement accounts (IRAs). The after-tax returns shown are calculated using the highest individual federal marginal income tax rates in effect during the periods presented and do not reflect the impact of state and local taxes.

Delaware Value Fund | Russell 1000® Value Index  
Prospectus [Line Items] rr_ProspectusLineItems  
Index No Deduction for Fees, Expenses, Taxes rr_IndexNoDeductionForFeesExpensesTaxes (reflects no deduction for fees, expenses, or taxes)
1 year rr_AverageAnnualReturnYear01 25.16%
5 years rr_AverageAnnualReturnYear05 11.16%
10 years or lifetime rr_AverageAnnualReturnYear10 12.97%
Delaware Value Fund | Class A  
Prospectus [Line Items] rr_ProspectusLineItems  
Maximum sales charge (load) imposed on purchases as a percentage of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.52%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other expenses rr_OtherExpensesOverAssets 0.16% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 0.93%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 664
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 854
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,060
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,652
2012 rr_AnnualReturn2012 14.21%
2013 rr_AnnualReturn2013 33.01%
2014 rr_AnnualReturn2014 13.42%
2015 rr_AnnualReturn2015 (0.54%)
2016 rr_AnnualReturn2016 14.44%
2017 rr_AnnualReturn2017 13.37%
2018 rr_AnnualReturn2018 (3.12%)
2019 rr_AnnualReturn2019 19.94%
2020 rr_AnnualReturn2020 (0.12%)
2021 rr_AnnualReturn2021 22.11%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest quarterly return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.32%
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (26.71%)
1 year rr_AverageAnnualReturnYear01 15.08%
5 years rr_AverageAnnualReturnYear05 8.65%
10 years or lifetime rr_AverageAnnualReturnYear10 11.50%
Delaware Value Fund | Class A | After Taxes on Distributions  
Prospectus [Line Items] rr_ProspectusLineItems  
1 year rr_AverageAnnualReturnYear01 9.15%
5 years rr_AverageAnnualReturnYear05 6.63%
10 years or lifetime rr_AverageAnnualReturnYear10 10.22%
Delaware Value Fund | Class A | After Taxes on Distributions and Sales  
Prospectus [Line Items] rr_ProspectusLineItems  
1 year rr_AverageAnnualReturnYear01 12.43%
5 years rr_AverageAnnualReturnYear05 6.53%
10 years or lifetime rr_AverageAnnualReturnYear10 9.34%
Delaware Value Fund | Class C  
Prospectus [Line Items] rr_ProspectusLineItems  
Maximum sales charge (load) imposed on purchases as a percentage of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [1]
Management fees rr_ManagementFeesOverAssets 0.52%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other expenses rr_OtherExpensesOverAssets 0.16% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 1.68%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 271
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 530
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 913
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,987
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 171
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 530
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 913
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,987
1 year rr_AverageAnnualReturnYear01 20.21%
5 years rr_AverageAnnualReturnYear05 9.11%
10 years or lifetime rr_AverageAnnualReturnYear10 11.32%
Delaware Value Fund | Class R  
Prospectus [Line Items] rr_ProspectusLineItems  
Maximum sales charge (load) imposed on purchases as a percentage of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.52%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other expenses rr_OtherExpensesOverAssets 0.16% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 1.18%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 120
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 375
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 649
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,432
1 year rr_AverageAnnualReturnYear01 21.80%
5 years rr_AverageAnnualReturnYear05 9.67%
10 years or lifetime rr_AverageAnnualReturnYear10 11.87%
Delaware Value Fund | Institutional Class  
Prospectus [Line Items] rr_ProspectusLineItems  
Maximum sales charge (load) imposed on purchases as a percentage of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.52%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.16% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 0.68%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 69
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 218
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 379
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 847
1 year rr_AverageAnnualReturnYear01 22.37%
5 years rr_AverageAnnualReturnYear05 10.21%
10 years or lifetime rr_AverageAnnualReturnYear10 12.44%
Delaware Value Fund | Class R6  
Prospectus [Line Items] rr_ProspectusLineItems  
Maximum sales charge (load) imposed on purchases as a percentage of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum contingent deferred sales charge (load) as a percentage of original purchase price or redemption price, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice none [1]
Management fees rr_ManagementFeesOverAssets 0.52%
Distribution and service (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other expenses rr_OtherExpensesOverAssets 0.06% [2]
Total annual fund operating expenses rr_ExpensesOverAssets 0.58%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 59
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 186
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 324
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 726
1 year rr_AverageAnnualReturnYear01 22.57%
5 years rr_AverageAnnualReturnYear05 10.33%
Lifetime rr_AverageAnnualReturnSinceInception 10.69%
Inception Date rr_AverageAnnualReturnInceptionDate May 02, 2016
[1] Class C shares redeemed within one year of purchase are subject to a 1.00% contingent deferred sales charge (CDSC).
[2] “Other expenses” account for Class R6 shares not being subject to certain expenses as described further in the section of the Prospectus entitled “Choosing a share class.”