DPDFX vs. WMGAX

Last updated Jul 14, 2026

DPDFX (Delaware Diversified Income Fund) and WMGAX (Delaware Ivy Mid Cap Growth Fund) are both mutual funds - DPDFX is a Intermediate Core-Plus Bond fund managed by Delaware Funds, while WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, DPDFX returned 2.50%/yr vs 11.04%/yr for WMGAX. At a correlation of -0.03, they often move in opposite directions. DPDFX charges 0.70%/yr vs 1.12%/yr for WMGAX.

Performance

DPDFX vs. WMGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Diversified Income Fund (DPDFX) 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, DPDFX achieves a 0.17% return, which is significantly lower than WMGAX's 2.23% return. Over the past 10 years, DPDFX has underperformed WMGAX with an annualized return of 2.50%, while WMGAX has yielded a comparatively higher 11.04% annualized return.

DPDFX

• 1D: -0.13%
• 1M: -0.32%
• 6M: 0.04%
• YTD: 0.17%
• 1Y: 4.42%
• 3Y*: 4.64%
• 5Y*: 0.46%
• 10Y*: 2.50%

WMGAX

• 1D: -0.47%
• 1M: -0.72%
• 6M: -1.68%
• YTD: 2.23%
• 1Y: 0.41%
• 3Y*: 4.56%
• 5Y*: -0.49%
• 10Y*: 11.04%

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

DPDFX vs. WMGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DPDFX Delaware Diversified Income Fund	0.17%	7.39%	1.91%	6.05%	-13.93%	1.64%	10.96%	11.98%	-1.98%	5.34%
WMGAX Delaware Ivy Mid Cap Growth Fund	2.23%	0.83%	10.02%	19.97%	-30.68%	16.22%	48.56%	38.01%	-0.20%	26.95%

Correlation

The correlation between DPDFX and WMGAX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000	-0.03

The correlation between DPDFX and WMGAX shifts across timeframes, from -0.03 (all time) to 0.41 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DPDFX vs. WMGAX — Risk / Return Rank

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

DPDFX

DPDFX Risk / Return Rank: 24
DPDFX Sharpe Ratio Rank: 24
DPDFX Sortino Ratio Rank: 24
DPDFX Omega Ratio Rank: 23
DPDFX Calmar Ratio Rank: 26
DPDFX Martin Ratio Rank: 22

WMGAX

WMGAX Risk / Return Rank: 3
WMGAX Sharpe Ratio Rank: 3
WMGAX Sortino Ratio Rank: 3
WMGAX Omega Ratio Rank: 3
WMGAX Calmar Ratio Rank: 3
WMGAX Martin Ratio Rank: 3

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.

DPDFX vs. WMGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Diversified Income Fund (DPDFX) 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.

	DPDFX	WMGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	-0.04	+1.09
Sortino ratio: Return per unit of downside risk	1.55	0.07	+1.48
Omega ratio: Gain probability vs. loss probability	1.18	1.01	+0.18
Calmar ratio: Return relative to maximum drawdown	1.44	-0.05	+1.49
Martin ratio: Return relative to average drawdown	4.09	-0.13	+4.22

DPDFX vs. WMGAX - Sharpe Ratio Comparison

The current DPDFX Sharpe Ratio is 1.04, which is higher than the WMGAX Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of DPDFX 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

DPDFX vs. WMGAX - Drawdown Comparison

The maximum DPDFX drawdown since its inception was -18.64%, smaller than the maximum WMGAX drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for DPDFX and WMGAX.

Drawdown Indicators

	DPDFX	WMGAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.64%	-53.74%	+35.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-16.16%	+13.35%
Max Drawdown (3Y) Largest decline over 3 years	-6.91%	-26.59%	+19.68%
Max Drawdown (5Y) Largest decline over 5 years	-18.64%	-42.95%	+24.31%
Max Drawdown (10Y) Largest decline over 10 years	-18.64%	-42.95%	+24.31%
Current Drawdown Current decline from peak	-1.49%	-15.24%	+13.75%
Average Drawdown Average peak-to-trough decline	-2.20%	-13.62%	+11.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	6.00%	-5.01%

Volatility

DPDFX vs. WMGAX - Volatility Comparison

The current volatility for Delaware Diversified Income Fund (DPDFX) is 1.06%, while Delaware Ivy Mid Cap Growth Fund (WMGAX) has a volatility of 5.48%. This indicates that DPDFX 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.

Volatility by Period

	DPDFX	WMGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	5.48%	-4.42%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	13.86%	-10.90%
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	17.92%	-14.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.16%	25.16%	-19.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.05%	23.13%	-18.08%

DPDFX vs. WMGAX - Expense Ratio Comparison

DPDFX has a 0.70% expense ratio, which is lower than WMGAX's 1.12% expense ratio.

Dividends

DPDFX vs. WMGAX - Dividend Comparison

DPDFX's dividend yield for the trailing twelve months is around 4.38%, less than WMGAX's 10.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPDFX Delaware Diversified Income Fund	4.38%	4.34%	4.01%	3.57%	3.52%	5.95%	3.15%	4.28%	4.10%	3.70%	3.19%	3.55%
WMGAX Delaware Ivy Mid Cap Growth Fund	10.86%	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 DPDFX and WMGAX in my portfolio?

DPDFX and WMGAX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DPDFX or WMGAX?

WMGAX has higher volatility (5.48%) compared to DPDFX (1.06%). In terms of maximum drawdown, DPDFX dropped -18.64% vs WMGAX's -53.74%.

Which has better risk-adjusted returns?

DPDFX currently has the higher Sharpe Ratio (1.04 vs -0.04), 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.