CXHYX vs. VIDAX
CXHYX (Delaware National High-Yield Municipal Bond Fund) and VIDAX (Delaware Tax-Free Idaho Fund) are both mutual funds - CXHYX is a High Yield Muni fund managed by Delaware Funds, while VIDAX is a Municipal Bonds fund managed by Delaware Funds. Over the past 10 years, CXHYX returned 3.26%/yr vs 2.28%/yr for VIDAX. Their correlation of 0.82 suggests significant overlap in exposure. CXHYX charges 0.85%/yr vs 0.86%/yr for VIDAX.
Performance
CXHYX vs. VIDAX - 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 VIDAX's 2.72% return. Over the past 10 years, CXHYX has outperformed VIDAX with an annualized return of 3.26%, while VIDAX has yielded a comparatively lower 2.28% 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%
VIDAX
- 1D
- 0.00%
- 1M
- 2.33%
- YTD
- 2.72%
- 6M
- 3.12%
- 1Y
- 8.71%
- 3Y*
- 4.34%
- 5Y*
- 1.05%
- 10Y*
- 2.28%
CXHYX vs. VIDAX - 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% |
VIDAX Delaware Tax-Free Idaho Fund | 2.72% | 3.78% | 3.68% | 6.51% | -11.90% | 4.05% | 4.61% | 7.72% | 1.27% | 5.05% |
Correlation
The correlation between CXHYX and VIDAX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996 | 0.82 |
The correlation between CXHYX and VIDAX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.
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Return for Risk
CXHYX vs. VIDAX — Risk / Return Rank
CXHYX
VIDAX
CXHYX vs. VIDAX - 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 Tax-Free Idaho Fund (VIDAX). 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 | VIDAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.62 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.88 | -1.15 |
| Martin ratioReturn relative to average drawdown | 4.96 | 10.32 | -5.37 |
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Drawdowns
CXHYX vs. VIDAX - Drawdown Comparison
The maximum CXHYX drawdown since its inception was -21.82%, which is greater than VIDAX's maximum drawdown of -17.08%. Use the drawdown chart below to compare losses from any high point for CXHYX and VIDAX.
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Drawdown Indicators
| CXHYX | VIDAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.82% | -17.08% | -4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.12% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -9.55% | -8.68% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -17.08% | -3.03% |
Max Drawdown (10Y)Largest decline over 10 years | -20.11% | -17.08% | -3.03% |
Current DrawdownCurrent decline from peak | -0.41% | 0.00% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -2.03% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.87% | +0.28% |
Volatility
CXHYX vs. VIDAX - Volatility Comparison
Delaware National High-Yield Municipal Bond Fund (CXHYX) has a higher volatility of 1.09% compared to Delaware Tax-Free Idaho Fund (VIDAX) at 1.00%. This indicates that CXHYX's price experiences larger fluctuations and is considered to be riskier than VIDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXHYX | VIDAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.00% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 2.54% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 3.43% | +0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 5.20% | +0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.81% | 4.57% | +1.24% |
CXHYX vs. VIDAX - Expense Ratio Comparison
CXHYX has a 0.85% expense ratio, which is lower than VIDAX's 0.86% expense ratio.
Dividends
CXHYX vs. VIDAX - Dividend Comparison
CXHYX's dividend yield for the trailing twelve months is around 4.97%, more than VIDAX's 3.41% 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% |
VIDAX Delaware Tax-Free Idaho Fund | 3.41% | 4.50% | 3.81% | 2.93% | 3.06% | 2.34% | 3.15% | 3.95% | 3.57% | 3.76% | 3.16% | 3.17% |
Frequently Asked Questions
CXHYX and VIDAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CXHYX has higher volatility (1.09%) compared to VIDAX (1.00%). In terms of maximum drawdown, CXHYX dropped -21.82% vs VIDAX's -17.08%.
VIDAX currently has the higher Sharpe Ratio (2.63 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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