# EDGAR Filing Document

**Accession Number:** 0000830744
**File Stem:** 0001193125-25-192769
**Filing Date:** 2025-8
**Character Count:** 24908
**Document Hash:** 34b97d627c9338f006a9db5896e529cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-192769.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001193125-25-192769

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILMINGTON FUNDS
- **CENTRAL INDEX KEY:** 0000830744

**ORGANIZATION NAME:**
- **EIN:** 232515567
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-20673
- **FILM NUMBER:** 251280980

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 NORTH MARKET STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19890
- **BUSINESS PHONE:** 716-842-4487

**MAIL ADDRESS:**
- **STREET 1:** 1100 NORTH MARKET STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19890

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MTB GROUP OF FUNDS
- **DATE OF NAME CHANGE:** 20090729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MTB FUNDS
- **DATE OF NAME CHANGE:** 20071228

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MTB GROUP OF FUNDS
- **DATE OF NAME CHANGE:** 20030822

## Series and Classes Contracts Data

### Wilmington International Fund (Series ID: S000005535)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000015057 | Class A Shares | WINAX           |
| C000015059 | Class I Shares | WINIX           |

SUMMARY PROSPECTUS - August 31, 2025

## WILMINGTON INTERNATIONAL FUND
**Class/**Ticker **A** WINAX **I** WINIX

Before you invest, you may want to review the Fund's Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. You can find the Fund's Prospectus, Statement of Additional Information, and other information about the Fund online at <u>www.wilmingtonfunds.com</u>. You can also get this information at no cost by calling 1.800.836.2211, by sending an email to <u>funds@wilmingtontrust.com</u>, or by asking any financial advisor, bank, or broker-dealer who offers shares of the Fund. The Fund's Prospectus and Statement of Additional Information, both dated August 31, 2025, are incorporated by reference into this Summary Prospectus.

Investment Goal

The Fund seeks to provide long-term capital appreciation, primarily through a diversified portfolio of non-U.S. equity securities.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class A Shares and Class I Shares. "Acquired Fund Fees and Expenses" are expenses incurred indirectly by the Fund through its ownership of shares in other investment companies. They are not direct costs paid by Fund shareholders and are not used to calculate the Fund's net asset value. They have no impact on the costs associated with fund operations. Acquired Fund Fees and Expenses are not included in the Fund's financial statements, which provide a clearer picture of a fund's actual operating costs. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** 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 the Wilmington Funds. More information about these and other discounts is available from your financial professional and in the Fund's prospectus in the section entitled "How are shares priced?" on page 76 of the prospectus.

Shareholder Fees

*(Fees paid directly from your investment)* 

---

| | | |
|:---|:---|:---|
|  | **Class A** | **Class I** |
| Maximum Sales Charge (Load) Imposed on Purchases<br> (as a percentage of offering price) | 5.50% |  |
| Maximum Deferred Sales Charge (Load) |  |  |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) |  |  |
| Redemption Fee |  |  |
| Exchange Fee |  |  |

---

Annual Fund Operating Expenses

*(Expenses that you pay each year as a percentage of the value of your investment)* 

---

| | | |
|:---|:---|:---|
|  | **Class A** | **Class I** |
| Management Fee | 0.78% | 0.78% |
| Distribution and/or Service (12b-1) Fees | 0.25% |  |
| Other Expenses | 0.43% | 0.18% |
| Acquired Fund Fees and Expenses | 0.03% | 0.03% |
| **Total Annual Fund Operating Expenses** | **1.49%** | **0.99%** |
| Fee Waivers and/or Expense Reimbursements(1) | (0.38)% | (0.13)% |
| **Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement** | **1.11%** | **0.86%** |

---

(1) The Fund's Advisor, distributor and shareholder services provider have agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses paid by the Fund's Class A
Shares and Class I Shares will not exceed 1.08% and 0.83%, respectively, not including the effects of acquired fund fees and expenses, taxes, extraordinary expenses, brokerage commissions and interest. This waiver may be amended or withdrawn
after August 31, 2026, or with the agreement of the Fund's Board of Trustees.

Example

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's Class A Shares and Class I Shares for the time periods indicated and then redeem all of your Shares 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 and that the fee waivers/expense reimbursements remain in place for the contractual period. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | 1 Year | 3 Years | 5 Years | 10 Years |
|  Class A |  |  |  |  |
|  Expenses assuming redemption | $657 | $960 | $1284 | $2201 |
|  Class I |  |  |  |  |
|  Expenses assuming redemption | $88 | $302 | $534 | $1201 |

---

---

| | | |
|:---|:---|:---|
| *SUMMARY PROSPECTUS / August 31, 2025* | ****<sub>1</sub> | **** |

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*WILMINGTON INTERNATIONAL FUND* 

Portfolio Turnover

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 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 34% of the average value of the portfolio.

Principal Investment Strategies of the Fund

The Fund seeks to achieve its investment goal by investing, under normal circumstances, at least 80% of the value of its net assets in a diversified portfolio of foreign securities including those domiciled in emerging markets. The Fund may invest in common stocks, preferred shares, depositary receipts, equity-linked instruments of all capitalizations, and exchange-traded funds ("ETFs"). The Fund invests primarily in the equity markets listed in the Morgan Stanley Capital International All Country World Index ex US ("MSCI ACWI ex-US Net") Index, the benchmark against which the Fund measures the performance of its portfolio.

Subject to the oversight of the Board, Wilmington Funds Management Corporation ("WFMC" or the "Advisor") seeks to achieve the Fund's investment goal by retaining Wellington Management Company LLP ("Wellington") to manage the Fund's assets. The Advisor also engages Wilmington Trust Investment Advisors, Inc. ("WTIA") to oversee Wellington, to monitor portfolio risk and, on a discretionary basis, to develop strategic exposure objectives and risk parameters for the Fund based on considerations such as macroeconomic outlook, relative valuation levels and volatility in the markets, market flows and market liquidity, and information relating to business cycles, as well as input from Wellington.

Based on the strategic exposure objectives and risk parameters established by WTIA, Wellington constructs an actively managed, diversified portfolio of foreign equity securities. Based on the objectives and parameters developed by WTIA, Wellington will allocate and reallocate the portfolio among a selection of independent equity management teams within Wellington. Each team pursues its own investment strategy or style, such as geography/region, growth/value, market capitalization, event-driven, economic sector, industry, or valuation measure.

In combining equity management teams and strategies, Wellington uses a number of proprietary analytical tools, including market environments analysis, extreme events analysis, stress testing, and simulation analysis. Through the strategy selection process, Wellington seeks to construct a portfolio comprised of a diversified group of long-only equity strategies with differing investment approaches that provides an overall exposure, consistent with WTIA's

exposure objectives and risk parameters, comparable to the broader equity market and that reduces exposure to the risks typically associated with any single investment approach. The underlying Wellington equity management teams have complete discretion and responsibility for security selection and portfolio construction decisions within their respective portions of the Fund's portfolio within the constraints of the Fund's investment goal, strategies and restrictions. The Fund may engage in active and frequent trading as part of its principal investment strategy.

Principal Risks of Investing in the Fund

All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:

• **Active Trading Risk**. The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance and increasing the amount of taxes that you pay).

• **Asset Allocation Risk**. The Subadvisor's asset allocation decisions among various component strategies of the Fund may not anticipate market trends successfully. The Subadvisor may make less than optimal or
poor asset allocation decisions. The Subadvisor attempts to identify investment allocations that will provide consistent, quality performance for the Fund, but there is no guarantee that the allocation techniques will produce the desired results.
You could lose money on your investment in the Fund as a result of these allocation decisions.

• **Company Size Risk**. The Fund can invest in stocks of companies of all capitalizations. The smaller companies in which the Fund may invest may have unproven track records, a limited product or service base, limited
access to capital, and other attributes that can cause their share prices to fluctuate, and they may be more likely to fail than larger companies. Therefore, smaller companies may entail greater risks for investors than larger companies.

• **Country or Sector Risk**. Investments in particular sectors or countries may be more volatile than the overall equity or fixed-income markets. Therefore, if the Fund emphasizes one or more industries, economic
sectors or countries, it may be more susceptible to financial, market, political or economic events affecting the particular issuers, industries and countries participating in such sectors than funds that do not emphasize particular industries,
sectors or countries.

• **Currency Risk**. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial currency conversion costs.

• **Depositary Receipts Risk**. Foreign securities may trade in the form of depositary receipts. Depositary
receipts represent an ownership in an underlying security that is

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| | |
|:---|:---|
| ***2*** | *August 31, 2025 / SUMMARY PROSPECTUS* |

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*WILMINGTON INTERNATIONAL FUND* 

held by the depositary. In addition to investment risks associated with the underlying issuer, depositary receipts may expose the Fund to additional risks associated with non-uniform terms that apply to depositary receipt programs, including credit exposure to the depository bank and to the sponsors and other parties with whom the depository bank establishes the programs, currency, political, economic, market risks and the risks of an illiquid market for depositary receipts. Depositary receipts are generally subject to the same risks as the foreign securities that they evidence or into which they may be converted. Depositary receipts may not track the price of the underlying foreign securities on which they are based, may have limited voting rights, and may have a distribution subject to a fee charged by the depository. As a result, equity shares of the underlying issuer may trade at a discount or premium to the market price of the depositary receipts.

• **Emerging Market Countries Risk**. Emerging market securities typically present even greater exposure to the risks described under "Foreign Investing Risk" and may be particularly sensitive to certain
economic changes. Emerging market securities are exposed to a number of risks that may make these investments volatile in price or difficult to trade. Companies in emerging market countries generally may be subject to less stringent financial
reporting, accounting and auditing standards than companies in more developed countries. In addition, securities law and the enforcement of systems of taxation in many emerging market countries may change quickly and unpredictably, and the ability
to bring and enforce actions may be limited.

• **Exchange Traded Funds ("ETFs") Risk**. An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange-traded) that has the same
investment objectives, strategies, and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs may be subject to the
following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be
maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide "circuit
breakers" (which are tied to large decreases in stock prices) halts stock trading generally.

• **Foreign Investing Risk**. Certain types of risk may be more prevalent in foreign equity markets than in the U.S. equity market. Economic, political or regulatory conditions may be less favorable, and markets may be
less liquid, less transparent and more volatile, in foreign countries, and in particular in emerging markets, than in

the United States. Currency fluctuations may reduce investment gains or add to investment losses. Additionally, management treatment of shareholders, accounting standards and regulatory practice can vary across markets.

• **Forward Currency Exchange Contract Risk**. A forward foreign currency exchange contract is an agreement to buy or sell a specific currency at a future date and at a price set at the time of the contract. When used
for hedging purposes, forward foreign currency exchange contracts may reduce the risk of a loss from a change in value of a currency, but they also limit any potential gains, do not protect against fluctuations in the value of the underlying
position and are subject to counterparty risk.

• **Growth Investing Risk**. Due to their relatively high valuations, growth stocks are typically more volatile than value stocks.

• **Information Risk**. When the quantitative analytical tools ("Tools") and information and data ("Data") used in managing the Fund prove to be incorrect or incomplete, any investment decisions
made in reliance on the Tools and Data may not produce the desired results and the Fund may realize losses.

• **Market Risk**. There is a risk that the value of the Fund's investments may decrease in response to expected, real or perceived economic, political or financial events in the U.S. or global markets. The
frequency and magnitude of such changes in value cannot be predicted. Certain securities and other investments held by the Fund may experience increased volatility, illiquidity, or other potentially adverse effects in response to changing market
conditions, inflation, changes in interest rates, trade disputes, changes in trade regulation or economic sanctions, elevated levels of government debt, internal unrest and discord, lack of liquidity in the bond or equity markets, volatility in the
equity markets, market disruptions caused by local or regional events such as war, acts of terrorism, the spread of infectious illness (including epidemics and pandemics) or other public health issues, recessions or other events or adverse investor
sentiment or other political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. These risks may be magnified if certain events or developments adversely
interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide due to increasingly interconnected global economies and financial markets. Market risk includes the risk that a particular style of
investing, such as growth or value, may underperform the market generally.

• **Preferred Stocks Risk**. Unlike interest payments on debt securities, dividend payments on a preferred
stock typically must be declared by the issuer's board of directors. In addition, in the event an issuer of preferred stock

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| | | |
|:---|:---|:---|
| *SUMMARY PROSPECTUS / August 31, 2025* | ****<sub>3</sub> | **** |

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*WILMINGTON INTERNATIONAL FUND* 

experiences economic difficulties, the issuer's preferred stock may lose substantial value due to the reduced likelihood that the issuer's board of directors will declare a dividend and the fact that the preferred stock may be subordinated to other securities of the same issuer.

• **Style/Multi-Manager Risk**. The Fund maintains a style blend. However, it may underperform when markets favor one style over a prolonged time period. The investment styles employed by sub-advisors may not be
complementary. The multi- manager approach could result in a high level of portfolio turnover, resulting in higher brokerage expenses and increased tax liability from the Fund's realization of capital gains.

• **Stock Market Risk.** The value of equity securities in the Fund's portfolio will fluctuate and, as a result, the Fund's share price may decline suddenly or over a sustained period of time.

• **Value Investing Risk**. Due to their relatively low valuations, value stocks are typically less volatile than growth stocks and therefore may lag behind growth stocks in an up market.

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Performance Information

The bar chart and table immediately following show the variability of the Fund's returns and are meant to provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year, with respect to its Class I Shares, and by showing how the Fund's average annual total returns for 1, 5 and 10 years 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 the Fund will perform in the future. Updated performance information is available at www.wilmingtonfunds.com.

Annual Total Returns – Class I Shares

![LOGO](g21523g12x36.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Best Quarter*<br> *16.76%*<br> *6/30/2020*<br>*Worst Quarter*<br> *(22.62)%*<br> *3/31/2020*<br>

The Fund's Class I Shares total return for the six-month period from January 1, 2025 to June 30, 2025 was 20.27%. The average annual total returns in the table below include the maximum Class A sales charge of 5.50%, which is normally deducted when you purchase shares.

Average Annual Total Returns

*(For the periods ended December 31, 2024)* 

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| | | | |
|:---|:---|:---|:---|
| <br>&nbsp;&nbsp;&nbsp;&nbsp; **Class I Shares** | **1 Year** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp;&nbsp; Return Before Taxes | 7.60% | 3.20% | 4.41% |
| &nbsp;&nbsp;&nbsp;&nbsp; Return After Taxes on Distributions\* | 6.96% | 2.51% | 3.81% |
| &nbsp;&nbsp;&nbsp;&nbsp; Return After Taxes on Distributions and Sale of Fund Shares\* | 5.13% | 2.45% | 3.40% |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Return Before Taxes | 1.38% | 1.80% | 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI ACWI ex-US Net Index (reflects no deductions for fees, expenses or taxes) | 5.53% | 4.10% | 4.80% |

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\* After-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds Fund shares in a tax-advantaged account, such as an individual retirement account or a 401(k) plan.

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| | |
|:---|:---|
| ***4*** | *August 31, 2025 / SUMMARY PROSPECTUS* |

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*WILMINGTON INTERNATIONAL FUND* 

Management of the Fund

Investment Advisor

Wilmington Funds Management Corporation

Investment Sub-Advisors

Principal Sub-Advisor – Wilmington Trust Investment Advisors, Inc. ("WTIA")

Other Sub-Advisor – Wellington Management Company LLP ("Wellington")

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| | | |
|:---|:---|:---|
| **Portfolio Managers** | **Title** | **Service Date**<br> **(with the Fund)** |
| Matthew D. Glaser | Executive Vice President and Head of Equity and Non-Traditional Investments at WTIA | 2016 |
| Allen E. Choinski, CFA | Senior Vice President and Portfolio Manager at WTIA | 2022 |
| Sean Jenkins | Senior Vice President and Portfolio Manager at WTIA | 2023 |
| Veenu Ramchandani, CFA | Managing Director, Portfolio Manager at Wellington | 2023 |

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Purchase and Sale of Fund Shares

Requests to purchase or redeem Fund Shares are processed on each day that the New York Stock Exchange ("NYSE") is open for business. You may purchase or redeem Shares by contacting the Fund at 1-800-836-2211. If you invest through a financial intermediary, please contact that intermediary regarding purchase and redemption procedures.

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| | |
|:---|:---|
| Minimum Initial Investment Amount (Class A):\* | $1000 |
| Minimum Initial Investment Amount (Class I):\* | $100000 |
| Minimum Subsequent Investment Amount (all share classes): | $25 |

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\* Other restrictions may apply. See "Purchasing Shares" in the Prospectus for further information.

The minimum initial and subsequent investment amounts may be waived or lowered from time to time.

Tax Information

The distributions you receive from the Fund are taxable and generally will be taxed as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan or an individual retirement account, in which case your distributions may be taxed as ordinary income when withdrawn from the tax-advantaged account.

Additional Payments to Other Financial Intermediaries

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies (such as the Advisor) may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your sales person or visit your financial intermediary's website for more information.

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| | | |
|:---|:---|:---|
| *SUMMARY PROSPECTUS / August 31, 2025* | ****<sub>5</sub> | **** |

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*WILMINGTON INTERNATIONAL FUND* 

WT MMIF 08.31.25

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| | |
|:---|:---|
| ***6*** | *August 31, 2025 / SUMMARY PROSPECTUS* |

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