DDIIX vs. DMTFX

Last updated Jun 23, 2026

DDIIX (Delaware Wealth Builder Fund) and DMTFX (Delaware Tax Free USA Fund) are both mutual funds - DDIIX is a Diversified Portfolio fund managed by Delaware Funds, while DMTFX is a Municipal Bonds fund managed by Delaware Funds. Over the past 10 years, DDIIX returned 8.04%/yr vs 2.64%/yr for DMTFX. At a correlation of -0.03, they often move in opposite directions. DDIIX charges 0.84%/yr vs 0.80%/yr for DMTFX.

Performance

DDIIX vs. DMTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Wealth Builder Fund (DDIIX) and Delaware Tax Free USA Fund (DMTFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDIIX achieves a 9.95% return, which is significantly higher than DMTFX's 2.51% return. Over the past 10 years, DDIIX has outperformed DMTFX with an annualized return of 8.04%, while DMTFX has yielded a comparatively lower 2.64% annualized return.

DDIIX

• 1D: 0.59%
• 1M: 1.31%
• YTD: 9.95%
• 6M: 9.73%
• 1Y: 22.66%
• 3Y*: 13.86%
• 5Y*: 9.13%
• 10Y*: 8.04%

DMTFX

• 1D: 0.10%
• 1M: 2.44%
• YTD: 2.51%
• 6M: 3.11%
• 1Y: 7.36%
• 3Y*: 4.44%
• 5Y*: 0.30%
• 10Y*: 2.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DDIIX vs. DMTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDIIX Delaware Wealth Builder Fund	9.95%	13.58%	10.69%	12.44%	-8.50%	18.09%	3.11%	18.09%	-7.03%	9.40%
DMTFX Delaware Tax Free USA Fund	2.51%	2.13%	3.17%	10.72%	-16.20%	5.19%	8.85%	8.97%	0.29%	7.19%

Correlation

The correlation between DDIIX and DMTFX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Nov 29, 1996	-0.03

The correlation between DDIIX and DMTFX shifts across timeframes, from -0.03 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DDIIX vs. DMTFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DDIIX

DDIIX Risk / Return Rank: 85
DDIIX Sharpe Ratio Rank: 88
DDIIX Sortino Ratio Rank: 86
DDIIX Omega Ratio Rank: 82
DDIIX Calmar Ratio Rank: 82
DDIIX Martin Ratio Rank: 86

DMTFX

DMTFX Risk / Return Rank: 44
DMTFX Sharpe Ratio Rank: 44
DMTFX Sortino Ratio Rank: 52
DMTFX Omega Ratio Rank: 60
DMTFX Calmar Ratio Rank: 34
DMTFX Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DDIIX vs. DMTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Wealth Builder Fund (DDIIX) and Delaware Tax Free USA Fund (DMTFX). 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.

	DDIIX	DMTFX	Difference
Sharpe ratio: Return per unit of total volatility	2.69	1.80	+0.88
Sortino ratio: Return per unit of downside risk	3.80	2.80	+1.00
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.11
Calmar ratio: Return relative to maximum drawdown	3.54	2.06	+1.47
Martin ratio: Return relative to average drawdown	15.18	6.04	+9.14

DDIIX vs. DMTFX - Sharpe Ratio Comparison

The current DDIIX Sharpe Ratio is 2.69, which is higher than the DMTFX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of DDIIX and DMTFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DDIIX vs. DMTFX - Drawdown Comparison

The maximum DDIIX drawdown since its inception was -47.01%, which is greater than DMTFX's maximum drawdown of -21.92%. Use the drawdown chart below to compare losses from any high point for DDIIX and DMTFX.

Drawdown Indicators

	DDIIX	DMTFX	Difference
Max Drawdown Largest peak-to-trough decline	-47.01%	-21.92%	-25.09%
Max Drawdown (1Y) Largest decline over 1 year	-6.46%	-3.60%	-2.86%
Max Drawdown (3Y) Largest decline over 3 years	-11.62%	-11.32%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.70%	-21.92%	+6.22%
Max Drawdown (10Y) Largest decline over 10 years	-29.46%	-21.92%	-7.54%
Current Drawdown Current decline from peak	-0.53%	0.00%	-0.53%
Average Drawdown Average peak-to-trough decline	-6.42%	-2.55%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.22%	+0.28%

Volatility

DDIIX vs. DMTFX - Volatility Comparison

Delaware Wealth Builder Fund (DDIIX) has a higher volatility of 3.21% compared to Delaware Tax Free USA Fund (DMTFX) at 0.97%. This indicates that DDIIX's price experiences larger fluctuations and is considered to be riskier than DMTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDIIX	DMTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	0.97%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	2.86%	+4.10%
Volatility (1Y) Calculated over the trailing 1-year period	8.52%	4.11%	+4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	6.61%	+3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	6.00%	+5.27%

DDIIX vs. DMTFX - Expense Ratio Comparison

DDIIX has a 0.84% expense ratio, which is higher than DMTFX's 0.80% expense ratio.

Dividends

DDIIX vs. DMTFX - Dividend Comparison

DDIIX's dividend yield for the trailing twelve months is around 6.51%, more than DMTFX's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDIIX Delaware Wealth Builder Fund	6.51%	7.38%	6.40%	4.23%	8.05%	7.15%	2.54%	4.46%	9.67%	2.88%	2.19%	2.79%
DMTFX Delaware Tax Free USA Fund	4.25%	5.69%	4.77%	3.53%	3.67%	4.00%	4.24%	4.44%	3.64%	4.74%	4.70%	3.63%

Frequently Asked Questions

Can I hold both DDIIX and DMTFX in my portfolio?

DDIIX and DMTFX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDIIX or DMTFX?

DDIIX has higher volatility (3.21%) compared to DMTFX (0.97%). In terms of maximum drawdown, DDIIX dropped -47.01% vs DMTFX's -21.92%.

Which has better risk-adjusted returns?

DDIIX currently has the higher Sharpe Ratio (2.69 vs 1.80), 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.