DVMHX vs. DLHIX
DVMHX (Delaware Minnesota High-Yield Municipal Bond Fund) and DLHIX (Delaware Healthcare Fund) are both mutual funds - DVMHX is a Municipal Bonds fund managed by Delaware Funds by Macquarie, while DLHIX is a Health & Biotech Equities fund managed by Delaware Funds by Macquarie. Over the past 10 years, DVMHX returned 2.41%/yr vs 11.39%/yr for DLHIX. At a correlation of -0.05, they often move in opposite directions. DVMHX charges 0.88%/yr vs 0.98%/yr for DLHIX.
Performance
DVMHX vs. DLHIX - Performance Comparison
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Returns By Period
In the year-to-date period, DVMHX achieves a 2.71% return, which is significantly higher than DLHIX's -0.04% return. Over the past 10 years, DVMHX has underperformed DLHIX with an annualized return of 2.41%, while DLHIX has yielded a comparatively higher 11.39% annualized return.
DVMHX
- 1D
- 0.00%
- 1M
- 2.25%
- YTD
- 2.71%
- 6M
- 3.15%
- 1Y
- 9.03%
- 3Y*
- 4.88%
- 5Y*
- 1.31%
- 10Y*
- 2.41%
DLHIX
- 1D
- 1.58%
- 1M
- 0.84%
- YTD
- -0.04%
- 6M
- -0.79%
- 1Y
- 27.14%
- 3Y*
- 12.48%
- 5Y*
- 7.34%
- 10Y*
- 11.39%
DVMHX vs. DLHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DVMHX Delaware Minnesota High-Yield Municipal Bond Fund | 2.71% | 4.22% | 5.10% | 5.24% | -10.69% | 3.07% | 3.95% | 8.74% | 0.79% | 5.97% |
DLHIX Delaware Healthcare Fund | -0.04% | 22.27% | 8.76% | 5.42% | -0.99% | 5.48% | 12.02% | 31.82% | -0.59% | 32.29% |
Correlation
The correlation between DVMHX and DLHIX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007 | -0.05 |
The correlation between DVMHX and DLHIX shifts across timeframes, from -0.05 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DVMHX vs. DLHIX — Risk / Return Rank
DVMHX
DLHIX
DVMHX vs. DLHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Minnesota High-Yield Municipal Bond Fund (DVMHX) and Delaware Healthcare Fund (DLHIX). 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.
| DVMHX | DLHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.28 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.68 | -0.08 |
| Martin ratioReturn relative to average drawdown | 9.48 | 7.74 | +1.74 |
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Drawdowns
DVMHX vs. DLHIX - Drawdown Comparison
The maximum DVMHX drawdown since its inception was -15.73%, smaller than the maximum DLHIX drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for DVMHX and DLHIX.
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Drawdown Indicators
| DVMHX | DLHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.73% | -34.64% | +18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -10.30% | +6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -19.79% | +11.93% |
Max Drawdown (5Y)Largest decline over 5 years | -15.56% | -19.79% | +4.23% |
Max Drawdown (10Y)Largest decline over 10 years | -15.56% | -25.60% | +10.04% |
Current DrawdownCurrent decline from peak | 0.00% | -3.69% | +3.69% |
Average DrawdownAverage peak-to-trough decline | -1.96% | -5.55% | +3.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 3.55% | -2.58% |
Volatility
DVMHX vs. DLHIX - Volatility Comparison
The current volatility for Delaware Minnesota High-Yield Municipal Bond Fund (DVMHX) is 0.94%, while Delaware Healthcare Fund (DLHIX) has a volatility of 5.32%. This indicates that DVMHX experiences smaller price fluctuations and is considered to be less risky than DLHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVMHX | DLHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 5.32% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 12.27% | -9.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 16.84% | -13.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 16.02% | -11.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 17.95% | -13.27% |
DVMHX vs. DLHIX - Expense Ratio Comparison
DVMHX has a 0.88% expense ratio, which is lower than DLHIX's 0.98% expense ratio.
Dividends
DVMHX vs. DLHIX - Dividend Comparison
DVMHX's dividend yield for the trailing twelve months is around 3.77%, less than DLHIX's 11.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLHIX Delaware Healthcare Fund | 11.16% | 11.16% | 14.00% | 6.97% | 9.16% | 5.41% | 6.19% | 7.63% | 2.11% | 3.23% | 8.20% | 7.90% |
DVMHX Delaware Minnesota High-Yield Municipal Bond Fund | 3.77% | 4.95% | 4.17% | 3.12% | 2.98% | 2.40% | 2.99% | 3.70% | 3.21% | 3.34% | 3.29% | 3.47% |
Frequently Asked Questions
DVMHX and DLHIX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLHIX has higher volatility (5.32%) compared to DVMHX (0.94%). In terms of maximum drawdown, DVMHX dropped -15.73% vs DLHIX's -34.64%.
DVMHX currently has the higher Sharpe Ratio (2.48 vs 1.64), 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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