DLHIX vs. WMGAX

Last updated Aug 1, 2026

DLHIX (Delaware Healthcare Fund) and WMGAX (Delaware Ivy Mid Cap Growth Fund) are both mutual funds - DLHIX is a Health & Biotech Equities fund managed by Delaware Funds, while WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, DLHIX returned 10.83%/yr vs 10.70%/yr for WMGAX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. DLHIX charges 0.98%/yr vs 1.12%/yr for WMGAX.

Performance

DLHIX vs. WMGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Healthcare Fund (DLHIX) and Delaware Ivy Mid Cap Growth Fund (WMGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLHIX achieves a 6.25% return, which is significantly higher than WMGAX's -0.26% return. Both investments have delivered pretty close results over the past 10 years, with DLHIX having a 10.83% annualized return and WMGAX not far behind at 10.70%.

DLHIX

• 1D: -0.14%
• 1M: -1.06%
• 6M: 5.77%
• YTD: 6.25%
• 1Y: 33.18%
• 3Y*: 14.76%
• 5Y*: 8.82%
• 10Y*: 10.83%
• ALL TIME*: 14.02%

WMGAX

• 1D: 0.71%
• 1M: -4.08%
• 6M: -2.19%
• YTD: -0.26%
• 1Y: -3.72%
• 3Y*: 3.26%
• 5Y*: -1.44%
• 10Y*: 10.70%
• ALL TIME*: 8.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DLHIX Delaware Healthcare Fund	$0.00	$0.00	$0.00
WMGAX Delaware Ivy Mid Cap Growth Fund	$0.00	$0.00	$0.00

DLHIX vs. WMGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLHIX Delaware Healthcare Fund	6.25%	22.27%	8.76%	5.42%	-0.99%	5.48%	12.02%	31.82%	-0.59%	32.29%
WMGAX Delaware Ivy Mid Cap Growth Fund	-0.26%	0.83%	10.02%	19.97%	-30.68%	16.22%	48.56%	38.01%	-0.20%	26.95%

Correlation

The correlation between DLHIX and WMGAX is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.50
Correlation (5Y) Shows whether the relationship held over a longer period.	0.57
Correlation (10Y) Provides a long-term view across more market conditions.	0.65
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007	0.73

Over the past year, the correlation between DLHIX and WMGAX has dropped to 0.44 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

Return for Risk

DLHIX vs. WMGAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DLHIX

DLHIX Risk / Return Rank: 77
DLHIX Sharpe Ratio Rank: 78
DLHIX Sortino Ratio Rank: 79
DLHIX Omega Ratio Rank: 71
DLHIX Calmar Ratio Rank: 87
DLHIX Martin Ratio Rank: 72

WMGAX

WMGAX Risk / Return Rank: 2
WMGAX Sharpe Ratio Rank: 2
WMGAX Sortino Ratio Rank: 2
WMGAX Omega Ratio Rank: 2
WMGAX Calmar Ratio Rank: 2
WMGAX Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DLHIX vs. WMGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Healthcare Fund (DLHIX) and Delaware Ivy Mid Cap Growth Fund (WMGAX). 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.

	DLHIX	WMGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	-0.33	+2.20
Sortino ratio: Return per unit of downside risk	2.70	-0.37	+3.07
Omega ratio: Gain probability vs. loss probability	1.31	0.96	+0.35
Calmar ratio: Return relative to maximum drawdown	3.07	-0.37	+3.44
Martin ratio: Return relative to average drawdown	8.84	-0.96	+9.80

DLHIX vs. WMGAX - Sharpe Ratio Comparison

The current DLHIX Sharpe Ratio is 1.87, which is higher than the WMGAX Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of DLHIX and WMGAX, 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

DLHIX vs. WMGAX - Drawdown Comparison

The maximum DLHIX drawdown since its inception was -34.64%, smaller than the maximum WMGAX drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for DLHIX and WMGAX.

Drawdown Indicators

	DLHIX	WMGAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.64%	-53.74%	+19.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-16.16%	+5.86%
Max Drawdown (3Y) Largest decline over 3 years	-19.79%	-26.59%	+6.80%
Max Drawdown (5Y) Largest decline over 5 years	-19.79%	-42.95%	+23.16%
Max Drawdown (10Y) Largest decline over 10 years	-25.60%	-42.95%	+17.35%
Current Drawdown Current decline from peak	-1.96%	-17.31%	+15.35%
Average Drawdown Average peak-to-trough decline	-5.53%	-13.63%	+8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	6.22%	-2.65%

Volatility

DLHIX vs. WMGAX - Volatility Comparison

Delaware Healthcare Fund (DLHIX) has a higher volatility of 4.95% compared to Delaware Ivy Mid Cap Growth Fund (WMGAX) at 3.06%. This indicates that DLHIX's price experiences larger fluctuations and is considered to be riskier than WMGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLHIX	WMGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	3.06%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	13.74%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.93%	17.87%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	25.14%	-9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	23.14%	-5.23%

DLHIX vs. WMGAX - Expense Ratio Comparison

DLHIX has a 0.98% expense ratio, which is lower than WMGAX's 1.12% expense ratio.

Dividends

DLHIX vs. WMGAX - Dividend Comparison

DLHIX's dividend yield for the trailing twelve months is around 10.50%, less than WMGAX's 11.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLHIX Delaware Healthcare Fund	10.50%	11.16%	14.00%	6.97%	9.16%	5.41%	6.19%	7.63%	2.11%	3.23%	8.20%	7.90%
WMGAX Delaware Ivy Mid Cap Growth Fund	11.13%	11.10%	15.30%	6.66%	11.94%	13.08%	9.97%	5.23%	10.28%	7.92%	3.98%	10.88%

Frequently Asked Questions

Can I hold both DLHIX and WMGAX in my portfolio?

DLHIX and WMGAX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLHIX or WMGAX?

DLHIX has higher volatility (4.95%) compared to WMGAX (3.06%). In terms of maximum drawdown, DLHIX dropped -34.64% vs WMGAX's -53.74%.

Which has better risk-adjusted returns?

DLHIX currently has the higher Sharpe Ratio (1.87 vs -0.33), 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.