IGNAX vs. MAGRX

Last updated Jun 5, 2026

IGNAX (Delaware Ivy Natural Resources Fund) and MAGRX (BlackRock Natural Resources Trust Fund) are both Energy Equities funds. Over the past 10 years, IGNAX returned 7.81%/yr vs 10.00%/yr for MAGRX. Their correlation of 0.88 suggests significant overlap in exposure. IGNAX charges 1.82%/yr vs 0.87%/yr for MAGRX.

Performance

IGNAX vs. MAGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Natural Resources Fund (IGNAX) and BlackRock Natural Resources Trust Fund (MAGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGNAX achieves a 20.34% return, which is significantly higher than MAGRX's 17.64% return. Over the past 10 years, IGNAX has underperformed MAGRX with an annualized return of 7.81%, while MAGRX has yielded a comparatively higher 10.00% annualized return.

IGNAX

• 1D: -0.36%
• 1M: 0.98%
• YTD: 20.34%
• 6M: 22.67%
• 1Y: 55.44%
• 3Y*: 20.65%
• 5Y*: 15.01%
• 10Y*: 7.81%

MAGRX

• 1D: -0.56%
• 1M: -0.30%
• YTD: 17.64%
• 6M: 21.61%
• 1Y: 42.05%
• 3Y*: 15.06%
• 5Y*: 11.14%
• 10Y*: 10.00%

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

IGNAX vs. MAGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGNAX Delaware Ivy Natural Resources Fund	20.34%	38.01%	-0.56%	1.26%	17.52%	26.06%	-12.38%	9.24%	-23.79%	2.89%
MAGRX BlackRock Natural Resources Trust Fund	17.64%	30.26%	-5.65%	-1.36%	17.20%	30.76%	3.20%	15.34%	-17.95%	8.20%

Correlation

The correlation between IGNAX and MAGRX is 0.92, 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	0.92
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	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.88

The correlation between IGNAX and MAGRX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

IGNAX vs. MAGRX — Risk / Return Rank

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

IGNAX

IGNAX Risk / Return Rank: 91
IGNAX Sharpe Ratio Rank: 94
IGNAX Sortino Ratio Rank: 84
IGNAX Omega Ratio Rank: 83
IGNAX Calmar Ratio Rank: 98
IGNAX Martin Ratio Rank: 98

MAGRX

MAGRX Risk / Return Rank: 75
MAGRX Sharpe Ratio Rank: 77
MAGRX Sortino Ratio Rank: 61
MAGRX Omega Ratio Rank: 63
MAGRX Calmar Ratio Rank: 90
MAGRX Martin Ratio Rank: 84

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.

IGNAX vs. MAGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Natural Resources Fund (IGNAX) and BlackRock Natural Resources Trust Fund (MAGRX). 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.

	IGNAX	MAGRX	Difference
Sharpe ratio: Return per unit of total volatility	3.24	2.53	+0.71
Sortino ratio: Return per unit of downside risk	3.98	3.21	+0.77
Omega ratio: Gain probability vs. loss probability	1.55	1.43	+0.12
Calmar ratio: Return relative to maximum drawdown	9.48	4.54	+4.95
Martin ratio: Return relative to average drawdown	30.28	15.49	+14.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGNAX vs. MAGRX - Sharpe Ratio Comparison

The current IGNAX Sharpe Ratio is 3.24, which is comparable to the MAGRX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IGNAX and MAGRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGNAX	MAGRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.24	2.53	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.53	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.45	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.34	-0.12

Drawdowns

IGNAX vs. MAGRX - Drawdown Comparison

The maximum IGNAX drawdown since its inception was -77.49%, which is greater than MAGRX's maximum drawdown of -65.68%. Use the drawdown chart below to compare losses from any high point for IGNAX and MAGRX.

Drawdown Indicators

	IGNAX	MAGRX	Difference
Max Drawdown Largest peak-to-trough decline	-77.49%	-65.68%	-11.81%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-9.27%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.86%	-19.46%	-3.40%
Max Drawdown (5Y) Largest decline over 5 years	-24.79%	-26.30%	+1.51%
Max Drawdown (10Y) Largest decline over 10 years	-57.95%	-50.11%	-7.84%
Current Drawdown Current decline from peak	-8.01%	-3.59%	-4.42%
Average Drawdown Average peak-to-trough decline	-35.68%	-15.93%	-19.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.71%	-0.87%

Volatility

IGNAX vs. MAGRX - Volatility Comparison

The current volatility for Delaware Ivy Natural Resources Fund (IGNAX) is 4.31%, while BlackRock Natural Resources Trust Fund (MAGRX) has a volatility of 4.81%. This indicates that IGNAX experiences smaller price fluctuations and is considered to be less risky than MAGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGNAX	MAGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.81%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	13.21%	13.18%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	16.65%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	21.00%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.48%	22.53%	-0.05%

IGNAX vs. MAGRX - Expense Ratio Comparison

IGNAX has a 1.82% expense ratio, which is higher than MAGRX's 0.87% expense ratio.

Dividends

IGNAX vs. MAGRX - Dividend Comparison

IGNAX has not paid dividends to shareholders, while MAGRX's dividend yield for the trailing twelve months is around 7.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGNAX Delaware Ivy Natural Resources Fund	0.00%	0.00%	5.68%	1.94%	2.02%	2.30%	0.29%	1.75%	0.00%	0.00%	0.06%	0.00%
MAGRX BlackRock Natural Resources Trust Fund	7.17%	8.44%	3.32%	4.16%	10.86%	3.90%	2.07%	2.97%	20.12%	49.72%	0.87%	8.29%

Frequently Asked Questions

Can I hold both IGNAX and MAGRX in my portfolio?

With a correlation of 0.92, IGNAX and MAGRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IGNAX or MAGRX?

MAGRX has higher volatility (4.81%) compared to IGNAX (4.31%). In terms of maximum drawdown, IGNAX dropped -77.49% vs MAGRX's -65.68%.

Which has better risk-adjusted returns?

IGNAX currently has the higher Sharpe Ratio (3.24 vs 2.53), 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.