DEMIX vs. CLS

Last updated Jun 10, 2026

DEMIX (Delaware Emerging Markets Fund) is Emerging Markets Diversified fund managed by Delaware Funds, while CLS (Celestica Inc.) is a stock. Over the past 10 years, DEMIX returned 19.96%/yr vs 42.61%/yr for CLS. At a 0.42 correlation, their price movements are largely independent.

Performance

DEMIX vs. CLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Emerging Markets Fund (DEMIX) and Celestica Inc. (CLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEMIX achieves a 83.98% return, which is significantly higher than CLS's 25.79% return. Over the past 10 years, DEMIX has underperformed CLS with an annualized return of 19.96%, while CLS has yielded a comparatively higher 42.61% annualized return.

DEMIX

• 1D: 0.42%
• 1M: -1.58%
• YTD: 83.98%
• 6M: 95.88%
• 1Y: 188.29%
• 3Y*: 58.22%
• 5Y*: 22.72%
• 10Y*: 19.96%

CLS

• 1D: -3.79%
• 1M: -0.98%
• YTD: 25.79%
• 6M: 8.72%
• 1Y: 203.19%
• 3Y*: 205.59%
• 5Y*: 113.26%
• 10Y*: 42.61%

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

DEMIX vs. CLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEMIX Delaware Emerging Markets Fund	83.98%	86.79%	6.52%	17.59%	-28.66%	-2.08%	26.09%	24.33%	-17.10%	41.98%
CLS Celestica Inc.	25.79%	220.27%	215.23%	159.80%	1.26%	37.92%	-2.42%	-5.70%	-16.32%	-11.56%

Correlation

The correlation between DEMIX and CLS is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 30, 1998	0.42

The correlation between DEMIX and CLS shifts across timeframes, from 0.29 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DEMIX vs. CLS — Risk / Return Rank

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

DEMIX

DEMIX Risk / Return Rank: 96
DEMIX Sharpe Ratio Rank: 99
DEMIX Sortino Ratio Rank: 91
DEMIX Omega Ratio Rank: 94
DEMIX Calmar Ratio Rank: 99
DEMIX Martin Ratio Rank: 98

CLS

CLS Risk / Return Rank: 92
CLS Sharpe Ratio Rank: 95
CLS Sortino Ratio Rank: 88
CLS Omega Ratio Rank: 88
CLS Calmar Ratio Rank: 96
CLS Martin Ratio Rank: 95

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.

DEMIX vs. CLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Emerging Markets Fund (DEMIX) and Celestica Inc. (CLS). 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.

	DEMIX	CLS	Difference
Sharpe ratio: Return per unit of total volatility	4.73	2.82	+1.91
Sortino ratio: Return per unit of downside risk	4.17	2.82	+1.34
Omega ratio: Gain probability vs. loss probability	1.69	1.37	+0.32
Calmar ratio: Return relative to maximum drawdown	9.15	7.00	+2.16
Martin ratio: Return relative to average drawdown	33.95	17.31	+16.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEMIX vs. CLS - Sharpe Ratio Comparison

The current DEMIX Sharpe Ratio is 4.73, which is higher than the CLS Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of DEMIX and CLS, 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

	DEMIX	CLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.73	2.82	+1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	1.98	-1.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.86	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.27	+0.24

Drawdowns

DEMIX vs. CLS - Drawdown Comparison

The maximum DEMIX drawdown since its inception was -63.15%, smaller than the maximum CLS drawdown of -96.93%. Use the drawdown chart below to compare losses from any high point for DEMIX and CLS.

Drawdown Indicators

	DEMIX	CLS	Difference
Max Drawdown Largest peak-to-trough decline	-63.15%	-96.93%	+33.78%
Max Drawdown (1Y) Largest decline over 1 year	-21.01%	-29.24%	+8.23%
Max Drawdown (3Y) Largest decline over 3 years	-22.62%	-53.96%	+31.34%
Max Drawdown (5Y) Largest decline over 5 years	-43.71%	-53.96%	+10.25%
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	-80.60%	+34.31%
Current Drawdown Current decline from peak	-13.58%	-21.28%	+7.70%
Average Drawdown Average peak-to-trough decline	-18.45%	-73.34%	+54.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	11.79%	-6.15%

Volatility

DEMIX vs. CLS - Volatility Comparison

The current volatility for Delaware Emerging Markets Fund (DEMIX) is 20.43%, while Celestica Inc. (CLS) has a volatility of 26.77%. This indicates that DEMIX experiences smaller price fluctuations and is considered to be less risky than CLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMIX	CLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.43%	26.77%	-6.34%
Volatility (6M) Calculated over the trailing 6-month period	36.87%	55.22%	-18.35%
Volatility (1Y) Calculated over the trailing 1-year period	40.72%	72.51%	-31.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	57.65%	-31.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.50%	49.94%	-26.44%

Dividends

DEMIX vs. CLS - Dividend Comparison

DEMIX's dividend yield for the trailing twelve months is around 10.31%, while CLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLS Celestica Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DEMIX Delaware Emerging Markets Fund	10.31%	18.97%	1.99%	2.95%	1.89%	3.42%	0.87%	0.80%	0.65%	1.80%	0.94%	0.30%

Frequently Asked Questions

Can I hold both DEMIX and CLS in my portfolio?

DEMIX and CLS have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEMIX or CLS?

CLS has higher volatility (26.77%) compared to DEMIX (20.43%). In terms of maximum drawdown, DEMIX dropped -63.15% vs CLS's -96.93%.

Which has better risk-adjusted returns?

DEMIX currently has the higher Sharpe Ratio (4.73 vs 2.82), 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.