DPDFX vs. MDVAX
DPDFX (Delaware Diversified Income Fund) and MDVAX (MassMutual Diversified Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, DPDFX returned 2.63%/yr vs 2.15%/yr for MDVAX. A 0.79 correlation means they provide meaningful diversification when combined. DPDFX charges 0.70%/yr vs 1.07%/yr for MDVAX.
Performance
DPDFX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, DPDFX achieves a 0.36% return, which is significantly lower than MDVAX's 2.47% return. Over the past 10 years, DPDFX has outperformed MDVAX with an annualized return of 2.63%, while MDVAX has yielded a comparatively lower 2.15% annualized return.
DPDFX
- 1D
- -0.26%
- 1M
- 0.74%
- YTD
- 0.36%
- 6M
- 0.87%
- 1Y
- 4.82%
- 3Y*
- 4.41%
- 5Y*
- 0.63%
- 10Y*
- 2.63%
MDVAX
- 1D
- -0.12%
- 1M
- 0.73%
- YTD
- 2.47%
- 6M
- 2.94%
- 1Y
- 7.26%
- 3Y*
- 5.92%
- 5Y*
- 0.18%
- 10Y*
- 2.15%
DPDFX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DPDFX Delaware Diversified Income Fund | 0.36% | 7.39% | 1.91% | 6.05% | -13.93% | 1.64% | 10.96% | 11.98% | -1.98% | 5.34% |
MDVAX MassMutual Diversified Bond Fund | 2.47% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Correlation
The correlation between DPDFX and MDVAX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999 | 0.79 |
The correlation between DPDFX and MDVAX shifts across timeframes, from 0.79 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DPDFX vs. MDVAX — Risk / Return Rank
DPDFX
MDVAX
DPDFX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Diversified Income Fund (DPDFX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| DPDFX | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.48 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.41 | -1.58 |
| Martin ratioReturn relative to average drawdown | 5.25 | 14.38 | -9.12 |
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Drawdowns
DPDFX vs. MDVAX - Drawdown Comparison
The maximum DPDFX drawdown since its inception was -18.64%, smaller than the maximum MDVAX drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for DPDFX and MDVAX.
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Drawdown Indicators
| DPDFX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.64% | -23.02% | +4.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.21% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -6.91% | -5.44% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -18.64% | -23.02% | +4.38% |
Max Drawdown (10Y)Largest decline over 10 years | -18.64% | -23.02% | +4.38% |
Current DrawdownCurrent decline from peak | -1.30% | -3.49% | +2.19% |
Average DrawdownAverage peak-to-trough decline | -2.20% | -3.47% | +1.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.52% | +0.46% |
Volatility
DPDFX vs. MDVAX - Volatility Comparison
Delaware Diversified Income Fund (DPDFX) has a higher volatility of 1.14% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.74%. This indicates that DPDFX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DPDFX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.74% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.15% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.19% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.46% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.06% | 5.27% | -0.21% |
DPDFX vs. MDVAX - Expense Ratio Comparison
DPDFX has a 0.70% expense ratio, which is lower than MDVAX's 1.07% expense ratio.
Dividends
DPDFX vs. MDVAX - Dividend Comparison
DPDFX's dividend yield for the trailing twelve months is around 4.36%, more than MDVAX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DPDFX Delaware Diversified Income Fund | 4.36% | 4.34% | 4.01% | 3.57% | 3.52% | 5.95% | 3.15% | 4.28% | 4.10% | 3.70% | 3.19% | 3.55% |
MDVAX MassMutual Diversified Bond Fund | 3.99% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
Frequently Asked Questions
DPDFX and MDVAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DPDFX has higher volatility (1.14%) compared to MDVAX (0.74%). In terms of maximum drawdown, DPDFX dropped -18.64% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (2.37 vs 1.29), 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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