DMTFX vs. WMGAX
DMTFX (Delaware Tax Free USA Fund) and WMGAX (Delaware Ivy Mid Cap Growth Fund) are both mutual funds - DMTFX is a Municipal Bonds fund managed by Delaware Funds, while WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, DMTFX returned 2.39%/yr vs 10.91%/yr for WMGAX. Their -0.07 correlation means they have often moved in opposite directions in the past. DMTFX charges 0.80%/yr vs 1.12%/yr for WMGAX.
Performance
DMTFX vs. WMGAX - Performance Comparison
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Returns By Period
In the year-to-date period, DMTFX achieves a 0.73% return, which is significantly higher than WMGAX's 0.57% return. Over the past 10 years, DMTFX has underperformed WMGAX with an annualized return of 2.39%, while WMGAX has yielded a comparatively higher 10.91% annualized return.
DMTFX
- 1D
- -0.20%
- 1M
- -2.72%
- 6M
- 0.05%
- YTD
- 0.73%
- 1Y
- 6.41%
- 3Y*
- 3.77%
- 5Y*
- -0.33%
- 10Y*
- 2.39%
- ALL TIME*
- 4.13%
WMGAX
- 1D
- 0.83%
- 1M
- -3.28%
- 6M
- -2.05%
- YTD
- 0.57%
- 1Y
- -2.92%
- 3Y*
- 3.72%
- 5Y*
- -1.28%
- 10Y*
- 10.91%
- ALL TIME*
- 8.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DMTFX vs. WMGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DMTFX Delaware Tax Free USA Fund | 0.73% | 2.13% | 3.17% | 10.72% | -16.20% | 5.19% | 8.85% | 8.97% | 0.29% | 7.19% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 0.57% | 0.83% | 10.02% | 19.97% | -30.68% | 16.22% | 48.56% | 38.01% | -0.20% | 26.95% |
Correlation
The correlation between DMTFX and WMGAX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | -0.07 |
The correlation between DMTFX and WMGAX shifts across timeframes, from -0.07 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DMTFX vs. WMGAX — Risk / Return Rank
DMTFX
WMGAX
DMTFX vs. WMGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Tax Free USA Fund (DMTFX) 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.
| DMTFX | WMGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.95 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.98 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | -0.24 | +2.19 |
| Martin ratioReturn relative to average drawdown | 6.35 | -0.62 | +6.96 |
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Drawdowns
DMTFX vs. WMGAX - Drawdown Comparison
The maximum DMTFX drawdown since its inception was -21.92%, smaller than the maximum WMGAX drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for DMTFX and WMGAX.
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Drawdown Indicators
| DMTFX | WMGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.92% | -53.74% | +31.82% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -16.16% | +12.56% |
Max Drawdown (3Y)Largest decline over 3 years | -9.62% | -26.59% | +16.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.92% | -42.95% | +21.03% |
Max Drawdown (10Y)Largest decline over 10 years | -21.92% | -42.95% | +21.03% |
Current DrawdownCurrent decline from peak | -2.72% | -16.62% | +13.90% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -13.63% | +11.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 6.23% | -5.13% |
Volatility
DMTFX vs. WMGAX - Volatility Comparison
The current volatility for Delaware Tax Free USA Fund (DMTFX) is 1.17%, while Delaware Ivy Mid Cap Growth Fund (WMGAX) has a volatility of 3.23%. This indicates that DMTFX experiences smaller price fluctuations and is considered to be less risky than WMGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DMTFX | WMGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 3.23% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 13.76% | -10.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 17.88% | -13.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 25.13% | -18.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 23.14% | -17.13% |
DMTFX vs. WMGAX - Expense Ratio Comparison
DMTFX has a 0.80% expense ratio, which is lower than WMGAX's 1.12% expense ratio.
Dividends
DMTFX vs. WMGAX - Dividend Comparison
DMTFX's dividend yield for the trailing twelve months is around 3.93%, less than WMGAX's 11.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DMTFX Delaware Tax Free USA Fund | 3.93% | 5.69% | 4.77% | 3.53% | 3.67% | 4.00% | 4.24% | 4.44% | 3.64% | 4.74% | 4.70% | 3.63% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 11.03% | 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
DMTFX and WMGAX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WMGAX has higher volatility (3.23%) compared to DMTFX (1.17%). In terms of maximum drawdown, DMTFX dropped -21.92% vs WMGAX's -53.74%.
DMTFX currently has the higher Sharpe Ratio (1.74 vs -0.22), 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.
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