DDVIX vs. IVOIX

Last updated Jun 4, 2026

DDVIX (Delaware Value Fund) and IVOIX (Delaware Ivy Mid Cap Income Opportunities Fund) are both mutual funds - DDVIX is a Large Cap Value Equities fund managed by Delaware Funds, while IVOIX is a Mid Cap Value Equities fund managed by Delaware Funds. Over the past 10 years, DDVIX returned 7.84%/yr vs 9.95%/yr for IVOIX. Their correlation of 0.86 suggests significant overlap in exposure. DDVIX charges 0.68%/yr vs 0.83%/yr for IVOIX.

Performance

DDVIX vs. IVOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Value Fund (DDVIX) and Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDVIX achieves a 5.83% return, which is significantly lower than IVOIX's 6.62% return. Over the past 10 years, DDVIX has underperformed IVOIX with an annualized return of 7.84%, while IVOIX has yielded a comparatively higher 9.95% annualized return.

DDVIX

• 1D: 0.56%
• 1M: -0.40%
• YTD: 5.83%
• 6M: 6.63%
• 1Y: 18.09%
• 3Y*: 10.44%
• 5Y*: 5.49%
• 10Y*: 7.84%

IVOIX

• 1D: 0.22%
• 1M: 2.90%
• YTD: 6.62%
• 6M: 6.24%
• 1Y: 12.95%
• 3Y*: 12.38%
• 5Y*: 6.52%
• 10Y*: 9.95%

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

DDVIX vs. IVOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDVIX Delaware Value Fund	5.83%	11.38%	6.76%	2.09%	-3.60%	22.05%	0.65%	20.26%	-2.99%	13.64%
IVOIX Delaware Ivy Mid Cap Income Opportunities Fund	6.62%	8.91%	9.08%	17.95%	-14.67%	25.76%	8.17%	26.84%	-4.27%	12.28%

Correlation

The correlation between DDVIX and IVOIX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.86

The correlation between DDVIX and IVOIX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

DDVIX vs. IVOIX — Risk / Return Rank

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

DDVIX

DDVIX Risk / Return Rank: 30
DDVIX Sharpe Ratio Rank: 30
DDVIX Sortino Ratio Rank: 31
DDVIX Omega Ratio Rank: 29
DDVIX Calmar Ratio Rank: 35
DDVIX Martin Ratio Rank: 28

IVOIX

IVOIX Risk / Return Rank: 16
IVOIX Sharpe Ratio Rank: 15
IVOIX Sortino Ratio Rank: 16
IVOIX Omega Ratio Rank: 14
IVOIX Calmar Ratio Rank: 17
IVOIX Martin Ratio Rank: 15

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.

DDVIX vs. IVOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Value Fund (DDVIX) and Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX). 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.

	DDVIX	IVOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.10	+0.47
Sortino ratio: Return per unit of downside risk	2.30	1.64	+0.66
Omega ratio: Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.22	1.50	+0.72
Martin ratio: Return relative to average drawdown	6.61	4.28	+2.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DDVIX vs. IVOIX - Sharpe Ratio Comparison

The current DDVIX Sharpe Ratio is 1.57, which is higher than the IVOIX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of DDVIX and IVOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DDVIX	IVOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.10	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.38	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.53	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.51	-0.08

Drawdowns

DDVIX vs. IVOIX - Drawdown Comparison

The maximum DDVIX drawdown since its inception was -53.49%, which is greater than IVOIX's maximum drawdown of -41.17%. Use the drawdown chart below to compare losses from any high point for DDVIX and IVOIX.

Drawdown Indicators

	DDVIX	IVOIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.49%	-41.17%	-12.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-9.50%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	-19.75%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.35%	-21.87%	+3.52%
Max Drawdown (10Y) Largest decline over 10 years	-37.52%	-41.17%	+3.65%
Current Drawdown Current decline from peak	-4.06%	-2.13%	-1.93%
Average Drawdown Average peak-to-trough decline	-8.17%	-4.98%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.32%	-0.49%

Volatility

DDVIX vs. IVOIX - Volatility Comparison

Delaware Value Fund (DDVIX) and Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) have volatilities of 3.18% and 3.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDVIX	IVOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.25%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	9.72%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	12.99%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	17.42%	-2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	19.02%	-1.90%

DDVIX vs. IVOIX - Expense Ratio Comparison

DDVIX has a 0.68% expense ratio, which is lower than IVOIX's 0.83% expense ratio.

Dividends

DDVIX vs. IVOIX - Dividend Comparison

DDVIX's dividend yield for the trailing twelve months is around 26.63%, more than IVOIX's 14.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDVIX Delaware Value Fund	26.63%	28.24%	32.45%	11.92%	10.60%	25.18%	3.11%	4.87%	6.45%	4.02%	2.51%	2.75%
IVOIX Delaware Ivy Mid Cap Income Opportunities Fund	14.75%	15.79%	11.69%	5.43%	4.44%	3.50%	1.75%	2.05%	4.31%	1.42%	1.10%	2.10%

Frequently Asked Questions

Can I hold both DDVIX and IVOIX in my portfolio?

DDVIX and IVOIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDVIX or IVOIX?

IVOIX has higher volatility (3.25%) compared to DDVIX (3.18%). In terms of maximum drawdown, DDVIX dropped -53.49% vs IVOIX's -41.17%.

Which has better risk-adjusted returns?

DDVIX currently has the higher Sharpe Ratio (1.57 vs 1.10), 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.