CXHYX vs. DPDFX
CXHYX (Delaware National High-Yield Municipal Bond Fund) and DPDFX (Delaware Diversified Income Fund) are both mutual funds - CXHYX is a High Yield Muni fund managed by Delaware Funds, while DPDFX is a Intermediate Core-Plus Bond fund managed by Delaware Funds. Over the past 10 years, CXHYX returned 3.09%/yr vs 2.36%/yr for DPDFX. Their 0.50 correlation means they have sometimes moved together and sometimes differently. CXHYX charges 0.85%/yr vs 0.70%/yr for DPDFX.
Performance
CXHYX vs. DPDFX - Performance Comparison
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Returns By Period
In the year-to-date period, CXHYX achieves a 0.74% return, which is significantly higher than DPDFX's -1.01% return. Over the past 10 years, CXHYX has outperformed DPDFX with an annualized return of 3.09%, while DPDFX has yielded a comparatively lower 2.36% annualized return.
CXHYX
- 1D
- -0.21%
- 1M
- -2.46%
- 6M
- -0.10%
- YTD
- 0.74%
- 1Y
- 5.39%
- 3Y*
- 4.15%
- 5Y*
- 0.12%
- 10Y*
- 3.09%
- ALL TIME*
- 4.93%
DPDFX
- 1D
- -0.26%
- 1M
- -1.70%
- 6M
- -1.08%
- YTD
- -1.01%
- 1Y
- 1.62%
- 3Y*
- 4.06%
- 5Y*
- 0.10%
- 10Y*
- 2.36%
- ALL TIME*
- 5.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CXHYX vs. DPDFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 0.74% | 1.71% | 5.76% | 8.26% | -14.85% | 7.86% | 6.49% | 11.52% | 1.58% | 10.15% |
DPDFX Delaware Diversified Income Fund | -1.01% | 7.39% | 1.91% | 6.05% | -13.93% | 1.64% | 10.96% | 11.98% | -1.98% | 5.34% |
Correlation
The correlation between CXHYX and DPDFX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 1997 | 0.50 |
The correlation between CXHYX and DPDFX shifts across timeframes, from 0.50 (all time) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CXHYX vs. DPDFX — Risk / Return Rank
CXHYX
DPDFX
CXHYX vs. DPDFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware National High-Yield Municipal Bond Fund (CXHYX) and Delaware Diversified Income Fund (DPDFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CXHYX | DPDFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.11 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 0.87 | +1.03 |
| Martin ratioReturn relative to average drawdown | 6.72 | 2.19 | +4.52 |
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Drawdowns
CXHYX vs. DPDFX - Drawdown Comparison
The maximum CXHYX drawdown since its inception was -21.82%, which is greater than DPDFX's maximum drawdown of -18.64%. Use the drawdown chart below to compare losses from any high point for CXHYX and DPDFX.
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Drawdown Indicators
| CXHYX | DPDFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -18.64% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -2.81% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -8.33% | -5.89% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -18.64% | -1.47% |
Max Drawdown (10Y)Largest decline over 10 years | -20.11% | -18.64% | -1.47% |
Current DrawdownCurrent decline from peak | -2.56% | -2.65% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -2.20% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.11% | -0.22% |
Volatility
CXHYX vs. DPDFX - Volatility Comparison
Delaware National High-Yield Municipal Bond Fund (CXHYX) has a higher volatility of 1.14% compared to Delaware Diversified Income Fund (DPDFX) at 1.04%. This indicates that CXHYX's price experiences larger fluctuations and is considered to be riskier than DPDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXHYX | DPDFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.04% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 3.05% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 3.88% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 6.16% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.81% | 5.06% | +0.75% |
CXHYX vs. DPDFX - Expense Ratio Comparison
CXHYX has a 0.85% expense ratio, which is higher than DPDFX's 0.70% expense ratio.
Dividends
CXHYX vs. DPDFX - Dividend Comparison
CXHYX's dividend yield for the trailing twelve months is around 4.70%, more than DPDFX's 4.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 4.70% | 6.41% | 5.43% | 3.99% | 4.94% | 3.61% | 4.42% | 5.27% | 4.92% | 4.98% | 3.87% | 3.77% |
DPDFX Delaware Diversified Income Fund | 4.08% | 4.34% | 4.01% | 3.57% | 3.52% | 5.95% | 3.15% | 4.28% | 4.10% | 3.70% | 3.19% | 3.55% |
Frequently Asked Questions
CXHYX and DPDFX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CXHYX has higher volatility (1.14%) compared to DPDFX (1.04%). In terms of maximum drawdown, CXHYX dropped -21.82% vs DPDFX's -18.64%.
CXHYX currently has the higher Sharpe Ratio (1.53 vs 0.63), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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