CXHYX vs. OIIEX
CXHYX (Delaware National High-Yield Municipal Bond Fund) and OIIEX (Optimum International Fund) are both mutual funds - CXHYX is a High Yield Muni fund managed by Delaware Funds, while OIIEX is a Foreign Large Cap Equities fund managed by Delaware Funds. Over the past 10 years, CXHYX returned 3.26%/yr vs 9.88%/yr for OIIEX. At a correlation of -0.04, they often move in opposite directions. CXHYX charges 0.85%/yr vs 1.04%/yr for OIIEX.
Performance
CXHYX vs. OIIEX - Performance Comparison
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Returns By Period
In the year-to-date period, CXHYX achieves a 2.29% return, which is significantly lower than OIIEX's 17.40% return. Over the past 10 years, CXHYX has underperformed OIIEX with an annualized return of 3.26%, while OIIEX has yielded a comparatively higher 9.88% annualized return.
CXHYX
- 1D
- 0.00%
- 1M
- 1.51%
- YTD
- 2.29%
- 6M
- 2.85%
- 1Y
- 5.56%
- 3Y*
- 4.41%
- 5Y*
- 0.78%
- 10Y*
- 3.26%
OIIEX
- 1D
- -0.11%
- 1M
- 3.93%
- YTD
- 17.40%
- 6M
- 17.85%
- 1Y
- 29.44%
- 3Y*
- 19.84%
- 5Y*
- 7.16%
- 10Y*
- 9.88%
CXHYX vs. OIIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 2.29% | 1.71% | 5.76% | 8.26% | -14.85% | 7.86% | 6.49% | 11.52% | 1.58% | 10.15% |
OIIEX Optimum International Fund | 17.40% | 25.99% | 8.41% | 17.37% | -23.04% | 8.52% | 12.57% | 19.60% | -13.98% | 30.46% |
Correlation
The correlation between CXHYX and OIIEX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2003 | -0.04 |
The correlation between CXHYX and OIIEX shifts across timeframes, from -0.04 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CXHYX vs. OIIEX — Risk / Return Rank
CXHYX
OIIEX
CXHYX vs. OIIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware National High-Yield Municipal Bond Fund (CXHYX) and Optimum International Fund (OIIEX). 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 | OIIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.47 | -0.74 |
| Martin ratioReturn relative to average drawdown | 4.96 | 9.36 | -4.41 |
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Drawdowns
CXHYX vs. OIIEX - Drawdown Comparison
The maximum CXHYX drawdown since its inception was -21.82%, smaller than the maximum OIIEX drawdown of -58.10%. Use the drawdown chart below to compare losses from any high point for CXHYX and OIIEX.
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Drawdown Indicators
| CXHYX | OIIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -58.10% | +36.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -11.93% | +8.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.55% | -14.64% | +5.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -37.09% | +16.98% |
Max Drawdown (10Y)Largest decline over 10 years | -20.11% | -37.43% | +17.32% |
Current DrawdownCurrent decline from peak | -0.41% | -0.11% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -12.42% | +9.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 3.14% | -1.99% |
Volatility
CXHYX vs. OIIEX - Volatility Comparison
The current volatility for Delaware National High-Yield Municipal Bond Fund (CXHYX) is 1.09%, while Optimum International Fund (OIIEX) has a volatility of 6.87%. This indicates that CXHYX experiences smaller price fluctuations and is considered to be less risky than OIIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXHYX | OIIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 6.87% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 13.92% | -11.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 16.13% | -12.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 16.97% | -10.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.81% | 17.20% | -11.39% |
CXHYX vs. OIIEX - Expense Ratio Comparison
CXHYX has a 0.85% expense ratio, which is lower than OIIEX's 1.04% expense ratio.
Dividends
CXHYX vs. OIIEX - Dividend Comparison
CXHYX's dividend yield for the trailing twelve months is around 4.97%, more than OIIEX's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 4.97% | 6.41% | 5.43% | 3.99% | 4.94% | 3.61% | 4.42% | 5.27% | 4.92% | 4.98% | 3.87% | 3.77% |
OIIEX Optimum International Fund | 1.19% | 1.40% | 1.62% | 1.37% | 3.08% | 15.53% | 3.16% | 2.10% | 8.98% | 2.06% | 1.16% | 0.80% |
Frequently Asked Questions
CXHYX and OIIEX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OIIEX has higher volatility (6.87%) compared to CXHYX (1.09%). In terms of maximum drawdown, CXHYX dropped -21.82% vs OIIEX's -58.10%.
OIIEX currently has the higher Sharpe Ratio (1.83 vs 1.42), 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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