IBNAX vs. SMIFX

Last updated Jun 26, 2026

IBNAX (Delaware Ivy Balanced Fund) and SMIFX (Sound Mind Investing Fund) are both Diversified Portfolio funds. Over the past 10 years, IBNAX returned 9.17%/yr vs 9.44%/yr for SMIFX. Their correlation of 0.88 suggests significant overlap in exposure. IBNAX charges 1.10%/yr vs 1.19%/yr for SMIFX.

Performance

IBNAX vs. SMIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Balanced Fund (IBNAX) and Sound Mind Investing Fund (SMIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBNAX achieves a 5.30% return, which is significantly lower than SMIFX's 12.94% return. Both investments have delivered pretty close results over the past 10 years, with IBNAX having a 9.17% annualized return and SMIFX not far ahead at 9.44%.

IBNAX

• 1D: 0.11%
• 1M: -0.81%
• YTD: 5.30%
• 6M: 4.48%
• 1Y: 12.99%
• 3Y*: 13.89%
• 5Y*: 6.91%
• 10Y*: 9.17%

SMIFX

• 1D: -0.37%
• 1M: -3.02%
• YTD: 12.94%
• 6M: 11.42%
• 1Y: 17.10%
• 3Y*: 11.66%
• 5Y*: 5.41%
• 10Y*: 9.44%

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

IBNAX vs. SMIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBNAX Delaware Ivy Balanced Fund	5.30%	12.17%	15.68%	16.19%	-16.41%	16.22%	14.34%	22.13%	-3.32%	11.37%
SMIFX Sound Mind Investing Fund	12.94%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%

Correlation

The correlation between IBNAX and SMIFX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 7, 2005	0.88

The correlation between IBNAX and SMIFX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

IBNAX vs. SMIFX — Risk / Return Rank

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

IBNAX

IBNAX Risk / Return Rank: 33
IBNAX Sharpe Ratio Rank: 32
IBNAX Sortino Ratio Rank: 32
IBNAX Omega Ratio Rank: 32
IBNAX Calmar Ratio Rank: 31
IBNAX Martin Ratio Rank: 40

SMIFX

SMIFX Risk / Return Rank: 34
SMIFX Sharpe Ratio Rank: 31
SMIFX Sortino Ratio Rank: 27
SMIFX Omega Ratio Rank: 30
SMIFX Calmar Ratio Rank: 45
SMIFX Martin Ratio Rank: 37

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.

IBNAX vs. SMIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Balanced Fund (IBNAX) and Sound Mind Investing Fund (SMIFX). 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	SMIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.30	+0.05
Sortino ratio: Return per unit of downside risk	1.94	1.78	+0.16
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	1.77	2.20	-0.43
Martin ratio: Return relative to average drawdown	7.44	6.90	+0.54

IBNAX vs. SMIFX - Sharpe Ratio Comparison

The current IBNAX Sharpe Ratio is 1.35, which is comparable to the SMIFX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of IBNAX and SMIFX, 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

IBNAX vs. SMIFX - Drawdown Comparison

The maximum IBNAX drawdown since its inception was -52.04%, roughly equal to the maximum SMIFX drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for IBNAX and SMIFX.

Drawdown Indicators

	IBNAX	SMIFX	Difference
Max Drawdown Largest peak-to-trough decline	-52.04%	-54.33%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	-7.42%	-7.42%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-10.91%	-19.98%	+9.07%
Max Drawdown (5Y) Largest decline over 5 years	-28.04%	-41.36%	+13.32%
Max Drawdown (10Y) Largest decline over 10 years	-28.04%	-41.36%	+13.32%
Current Drawdown Current decline from peak	-1.61%	-11.82%	+10.21%
Average Drawdown Average peak-to-trough decline	-10.46%	-14.27%	+3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	2.36%	-0.60%

Volatility

IBNAX vs. SMIFX - Volatility Comparison

The current volatility for Delaware Ivy Balanced Fund (IBNAX) is 4.01%, while Sound Mind Investing Fund (SMIFX) has a volatility of 5.59%. This indicates that IBNAX experiences smaller price fluctuations and is considered to be less risky than SMIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBNAX	SMIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	5.59%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	10.13%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	12.61%	-2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.15%	29.08%	-8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.69%	24.19%	-7.50%

IBNAX vs. SMIFX - Expense Ratio Comparison

IBNAX has a 1.10% expense ratio, which is lower than SMIFX's 1.19% expense ratio.

Dividends

IBNAX vs. SMIFX - Dividend Comparison

IBNAX's dividend yield for the trailing twelve months is around 2.58%, less than SMIFX's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBNAX Delaware Ivy Balanced Fund	2.58%	3.10%	1.86%	1.11%	26.49%	11.58%	6.76%	7.70%	11.85%	4.62%	2.31%	6.20%
SMIFX Sound Mind Investing Fund	4.72%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%

Frequently Asked Questions

Can I hold both IBNAX and SMIFX in my portfolio?

IBNAX and SMIFX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBNAX or SMIFX?

SMIFX has higher volatility (5.59%) compared to IBNAX (4.01%). In terms of maximum drawdown, IBNAX dropped -52.04% vs SMIFX's -54.33%.

Which has better risk-adjusted returns?

IBNAX currently has the higher Sharpe Ratio (1.35 vs 1.30), 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.