DEGGX vs. IPOAX

Last updated Jun 24, 2026

DEGGX (Delaware Strategic Income Fund) and IPOAX (Delaware Ivy Systematic Emerging Markets Equity Fund) are both mutual funds - DEGGX is a Multisector Bonds fund managed by Delaware Funds by Macquarie, while IPOAX is a Emerging Markets Diversified fund managed by Delaware Funds by Macquarie. Over the past 10 years, DEGGX returned 3.71%/yr vs 10.85%/yr for IPOAX. At a 0.00 correlation, their price movements are largely independent. DEGGX charges 0.90%/yr vs 1.15%/yr for IPOAX.

Performance

DEGGX vs. IPOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Strategic Income Fund (DEGGX) and Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEGGX achieves a 0.79% return, which is significantly lower than IPOAX's 28.64% return. Over the past 10 years, DEGGX has underperformed IPOAX with an annualized return of 3.71%, while IPOAX has yielded a comparatively higher 10.85% annualized return.

DEGGX

• 1D: -0.13%
• 1M: 0.63%
• YTD: 0.79%
• 6M: 1.57%
• 1Y: 6.12%
• 3Y*: 7.00%
• 5Y*: 2.48%
• 10Y*: 3.71%

IPOAX

• 1D: -0.51%
• 1M: 6.49%
• YTD: 28.64%
• 6M: 30.99%
• 1Y: 49.10%
• 3Y*: 22.49%
• 5Y*: 4.79%
• 10Y*: 10.85%

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

DEGGX vs. IPOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEGGX Delaware Strategic Income Fund	0.79%	7.92%	6.56%	8.76%	-10.49%	1.16%	10.12%	13.63%	-4.11%	6.72%
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund	28.64%	26.53%	7.71%	10.86%	-27.56%	-4.67%	35.01%	23.23%	-19.83%	42.47%

Correlation

The correlation between DEGGX and IPOAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	0.00

Over the past year, DEGGX and IPOAX have become more correlated (0.35) than their long-term average of 0.00, meaning their price movements have been converging.

Return for Risk

DEGGX vs. IPOAX — Risk / Return Rank

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

DEGGX

DEGGX Risk / Return Rank: 72
DEGGX Sharpe Ratio Rank: 72
DEGGX Sortino Ratio Rank: 88
DEGGX Omega Ratio Rank: 86
DEGGX Calmar Ratio Rank: 50
DEGGX Martin Ratio Rank: 64

IPOAX

IPOAX Risk / Return Rank: 73
IPOAX Sharpe Ratio Rank: 77
IPOAX Sortino Ratio Rank: 60
IPOAX Omega Ratio Rank: 76
IPOAX Calmar Ratio Rank: 82
IPOAX Martin Ratio Rank: 71

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.

DEGGX vs. IPOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Strategic Income Fund (DEGGX) and Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX). 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.

	DEGGX	IPOAX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.37	-0.09
Sortino ratio: Return per unit of downside risk	3.94	2.97	+0.97
Omega ratio: Gain probability vs. loss probability	1.56	1.45	+0.10
Calmar ratio: Return relative to maximum drawdown	2.60	3.59	-0.99
Martin ratio: Return relative to average drawdown	11.78	12.80	-1.02

DEGGX vs. IPOAX - Sharpe Ratio Comparison

The current DEGGX Sharpe Ratio is 2.27, which is comparable to the IPOAX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of DEGGX and IPOAX, 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

DEGGX vs. IPOAX - Drawdown Comparison

The maximum DEGGX drawdown since its inception was -16.81%, smaller than the maximum IPOAX drawdown of -67.11%. Use the drawdown chart below to compare losses from any high point for DEGGX and IPOAX.

Drawdown Indicators

	DEGGX	IPOAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.81%	-67.11%	+50.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-13.39%	+10.96%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-16.86%	+13.00%
Max Drawdown (5Y) Largest decline over 5 years	-16.07%	-42.52%	+26.45%
Max Drawdown (10Y) Largest decline over 10 years	-16.81%	-45.79%	+28.98%
Current Drawdown Current decline from peak	-0.27%	-0.51%	+0.24%
Average Drawdown Average peak-to-trough decline	-1.73%	-23.64%	+21.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	3.75%	-3.22%

Volatility

DEGGX vs. IPOAX - Volatility Comparison

The current volatility for Delaware Strategic Income Fund (DEGGX) is 0.84%, while Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) has a volatility of 10.25%. This indicates that DEGGX experiences smaller price fluctuations and is considered to be less risky than IPOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEGGX	IPOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	10.25%	-9.41%
Volatility (6M) Calculated over the trailing 6-month period	2.22%	17.98%	-15.76%
Volatility (1Y) Calculated over the trailing 1-year period	2.79%	20.36%	-17.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.11%	20.40%	-16.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	20.45%	-16.30%

DEGGX vs. IPOAX - Expense Ratio Comparison

DEGGX has a 0.90% expense ratio, which is lower than IPOAX's 1.15% expense ratio.

Dividends

DEGGX vs. IPOAX - Dividend Comparison

DEGGX's dividend yield for the trailing twelve months is around 6.12%, less than IPOAX's 7.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEGGX Delaware Strategic Income Fund	6.12%	6.09%	5.91%	4.46%	4.60%	3.78%	4.14%	5.41%	5.32%	4.91%	2.54%	2.77%
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund	7.78%	10.01%	3.35%	3.23%	14.83%	0.55%	0.75%	0.74%	0.68%	0.00%	0.00%	0.93%

Frequently Asked Questions

Can I hold both DEGGX and IPOAX in my portfolio?

DEGGX and IPOAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEGGX or IPOAX?

IPOAX has higher volatility (10.25%) compared to DEGGX (0.84%). In terms of maximum drawdown, DEGGX dropped -16.81% vs IPOAX's -67.11%.

Which has better risk-adjusted returns?

IPOAX currently has the higher Sharpe Ratio (2.37 vs 2.27), 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.