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Delaware National High-Yield Municipal Bond Fund (CXHYX) Sharpe Ratio: 1.42

Mutual Fund · Currency in USD · Last updated Jun 24, 2026

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities the income from which is exempt from federal income tax. It will invest primarily in lower-rated municipal securities, which typically offer higher income potential and involve greater risk than higher-quality securities.

CXHYX's Sharpe Ratio of 1.42 indicates that for each unit of volatility, it generates 1.42 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 24, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

CXHYX Sharpe Ratio Rank

CXHYX Sharpe Ratio Rank: 28.729
Below Average

CXHYX ranks above 28.7% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

CXHYX Sharpe Ratio Market Positioning

The chart shows CXHYX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.30 or lower
  • Yellow zone (middle 50%): 1.30 to 2.32
  • Green zone (top 25%): 2.32 or higher
  • Top 1%: 4.28+
  • Median: 1.93 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Delaware National High-Yield Municipal Bond Fund's Sharpe Ratio with other mutual funds in the High Yield Muni category across multiple time periods, showing how CXHYX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 24, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
PRFHXT. Rowe Price Tax Free High Yield Fund3.36
FHTFXFederated Hermes Municipal High Yield Advtg Fd2.95
ISHYXInvesco Short Duration High Yield Municipal Fund2.95
SDHIXLord Abbett Short Duration High Income Municipal Bond Fund2.79
HIMFXAmerican High-Income Municipal Bond Fund Class F-32.74
AHMFXAmerican High-Income Municipal Bond Fund Class F-22.72
EWHYXEaton Vance High Yield Municipal Income Fund Class W2.67
AMHIXAmerican High-Income Municipal Bond Fund2.66
SRHMXColumbia High Yield Municipal Fund2.62
VWALXVanguard High-Yield Tax-Exempt Fund Admiral Shares2.62
CXHYXDelaware National High-Yield Municipal Bond Fund1.42

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows CXHYX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when CXHYX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does CXHYX fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

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