DDVIX vs. OIIEX

Last updated Jun 4, 2026

DDVIX (Delaware Value Fund) and OIIEX (Optimum International Fund) are both mutual funds - DDVIX is a Large Cap Value Equities fund managed by Delaware Funds, while OIIEX is a Foreign Large Cap Equities fund managed by Delaware Funds. Over the past 10 years, DDVIX returned 7.84%/yr vs 9.34%/yr for OIIEX. A 0.69 correlation means they provide meaningful diversification when combined. DDVIX charges 0.68%/yr vs 1.04%/yr for OIIEX.

Performance

DDVIX vs. OIIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Value Fund (DDVIX) and Optimum International Fund (OIIEX). 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 OIIEX's 17.33% return. Over the past 10 years, DDVIX has underperformed OIIEX with an annualized return of 7.84%, while OIIEX has yielded a comparatively higher 9.34% 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%

OIIEX

• 1D: 0.65%
• 1M: 8.39%
• YTD: 17.33%
• 6M: 20.70%
• 1Y: 28.83%
• 3Y*: 19.82%
• 5Y*: 7.00%
• 10Y*: 9.34%

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

DDVIX vs. OIIEX - 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%
OIIEX Optimum International Fund	17.33%	25.99%	8.41%	17.37%	-23.04%	8.52%	12.57%	19.60%	-13.98%	30.46%

Correlation

The correlation between DDVIX and OIIEX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 24, 2003	0.69

The correlation between DDVIX and OIIEX shifts across timeframes, from 0.50 (3 years) to 0.69 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DDVIX vs. OIIEX — 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

OIIEX

OIIEX Risk / Return Rank: 42
OIIEX Sharpe Ratio Rank: 42
OIIEX Sortino Ratio Rank: 40
OIIEX Omega Ratio Rank: 44
OIIEX Calmar Ratio Rank: 41
OIIEX Martin Ratio Rank: 44

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. OIIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Value Fund (DDVIX) 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.

	DDVIX	OIIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.92	-0.35
Sortino ratio: Return per unit of downside risk	2.30	2.64	-0.34
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.22	2.41	-0.18
Martin ratio: Return relative to average drawdown	6.61	9.26	-2.66
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. OIIEX - Sharpe Ratio Comparison

The current DDVIX Sharpe Ratio is 1.57, which is comparable to the OIIEX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of DDVIX and OIIEX, 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	OIIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.92	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.42	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.55	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.38	+0.05

Drawdowns

DDVIX vs. OIIEX - Drawdown Comparison

The maximum DDVIX drawdown since its inception was -53.49%, smaller than the maximum OIIEX drawdown of -58.10%. Use the drawdown chart below to compare losses from any high point for DDVIX and OIIEX.

Drawdown Indicators

	DDVIX	OIIEX	Difference
Max Drawdown Largest peak-to-trough decline	-53.49%	-58.10%	+4.61%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-11.93%	+3.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	-14.64%	-3.71%
Max Drawdown (5Y) Largest decline over 5 years	-18.35%	-37.09%	+18.74%
Max Drawdown (10Y) Largest decline over 10 years	-37.52%	-37.43%	-0.09%
Current Drawdown Current decline from peak	-4.06%	0.00%	-4.06%
Average Drawdown Average peak-to-trough decline	-8.17%	-12.44%	+4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.09%	-0.26%

Volatility

DDVIX vs. OIIEX - Volatility Comparison

The current volatility for Delaware Value Fund (DDVIX) is 3.18%, while Optimum International Fund (OIIEX) has a volatility of 4.72%. This indicates that DDVIX 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.

Volatility by Period

	DDVIX	OIIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	4.72%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	12.50%	-3.60%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	14.99%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	16.75%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	17.14%	-0.02%

DDVIX vs. OIIEX - Expense Ratio Comparison

DDVIX has a 0.68% expense ratio, which is lower than OIIEX's 1.04% expense ratio.

Dividends

DDVIX vs. OIIEX - Dividend Comparison

DDVIX's dividend yield for the trailing twelve months is around 26.63%, more than OIIEX's 1.19% 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%
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

Can I hold both DDVIX and OIIEX in my portfolio?

DDVIX and OIIEX have a correlation of 0.53, 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 OIIEX?

OIIEX has higher volatility (4.72%) compared to DDVIX (3.18%). In terms of maximum drawdown, DDVIX dropped -53.49% vs OIIEX's -58.10%.

Which has better risk-adjusted returns?

OIIEX currently has the higher Sharpe Ratio (1.92 vs 1.57), 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.