IBNAX vs. IPOAX
IBNAX (Delaware Ivy Balanced Fund) and IPOAX (Delaware Ivy Systematic Emerging Markets Equity Fund) are both mutual funds - IBNAX is a Diversified Portfolio fund managed by Delaware Funds, while IPOAX is a Emerging Markets Equities fund managed by Delaware Funds. Over the past 10 years, IBNAX returned 8.81%/yr vs 8.80%/yr for IPOAX. Their 0.43 correlation means their historical movements had little consistent relationship. IBNAX charges 1.10%/yr vs 1.15%/yr for IPOAX.
Performance
IBNAX vs. IPOAX - Performance Comparison
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Returns By Period
In the year-to-date period, IBNAX achieves a 5.53% return, which is significantly lower than IPOAX's 18.05% return. Both investments have delivered pretty close results over the past 10 years, with IBNAX having a 8.81% annualized return and IPOAX not far behind at 8.80%.
IBNAX
- 1D
- 1.32%
- 1M
- -0.85%
- 6M
- 4.31%
- YTD
- 5.53%
- 1Y
- 10.75%
- 3Y*
- 12.71%
- 5Y*
- 6.70%
- 10Y*
- 8.81%
- ALL TIME*
- 4.90%
IPOAX
- 1D
- 4.34%
- 1M
- -1.19%
- 6M
- 7.44%
- YTD
- 18.05%
- 1Y
- 34.17%
- 3Y*
- 16.79%
- 5Y*
- 4.31%
- 10Y*
- 8.80%
- ALL TIME*
- 5.33%
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 |
IBNAX vs. IPOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBNAX Delaware Ivy Balanced Fund | 5.53% | 12.17% | 15.68% | 16.19% | -16.41% | 16.22% | 14.34% | 22.13% | -3.32% | 11.37% |
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 18.05% | 26.53% | 7.71% | 10.86% | -27.56% | -4.67% | 35.01% | 23.23% | -19.83% | 42.47% |
Correlation
The correlation between IBNAX and IPOAX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 1993 | 0.43 |
The correlation between IBNAX and IPOAX shifts across timeframes, from 0.43 (all time) to 0.61 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBNAX vs. IPOAX — Risk / Return Rank
IBNAX
IPOAX
IBNAX vs. IPOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Balanced Fund (IBNAX) and Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX). 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.
| IBNAX | IPOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.30 | -0.96 |
| Martin ratioReturn relative to average drawdown | 5.55 | 6.92 | -1.37 |
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Drawdowns
IBNAX vs. IPOAX - Drawdown Comparison
The maximum IBNAX drawdown since its inception was -52.04%, smaller than the maximum IPOAX drawdown of -67.11%. Use the drawdown chart below to compare losses from any high point for IBNAX and IPOAX.
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Drawdown Indicators
| IBNAX | IPOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.04% | -67.11% | +15.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.42% | -13.39% | +5.97% |
Max Drawdown (3Y)Largest decline over 3 years | -10.91% | -16.86% | +5.95% |
Max Drawdown (5Y)Largest decline over 5 years | -28.04% | -40.84% | +12.80% |
Max Drawdown (10Y)Largest decline over 10 years | -28.04% | -45.79% | +17.75% |
Current DrawdownCurrent decline from peak | -1.83% | -8.70% | +6.87% |
Average DrawdownAverage peak-to-trough decline | -10.44% | -23.58% | +13.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 4.46% | -2.66% |
Volatility
IBNAX vs. IPOAX - Volatility Comparison
The current volatility for Delaware Ivy Balanced Fund (IBNAX) is 2.96%, while Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) has a volatility of 9.36%. This indicates that IBNAX experiences smaller price fluctuations and is considered to be less risky than IPOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBNAX | IPOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | 9.36% | -6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 20.68% | -12.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.09% | 22.72% | -12.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.18% | 20.78% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 20.60% | -3.90% |
IBNAX vs. IPOAX - Expense Ratio Comparison
IBNAX has a 1.10% expense ratio, which is lower than IPOAX's 1.15% expense ratio.
Dividends
IBNAX vs. IPOAX - Dividend Comparison
IBNAX's dividend yield for the trailing twelve months is around 2.59%, less than IPOAX's 8.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBNAX Delaware Ivy Balanced Fund | 2.59% | 3.10% | 1.86% | 1.11% | 26.49% | 11.58% | 6.76% | 7.70% | 11.85% | 4.62% | 2.31% | 6.20% |
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 8.48% | 10.01% | 3.35% | 3.23% | 14.83% | 0.55% | 0.75% | 0.74% | 0.68% | 0.00% | 0.00% | 0.93% |
Frequently Asked Questions
IBNAX and IPOAX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPOAX has higher volatility (9.36%) compared to IBNAX (2.96%). In terms of maximum drawdown, IBNAX dropped -52.04% vs IPOAX's -67.11%.
IPOAX currently has the higher Sharpe Ratio (1.36 vs 0.99), 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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