IGNAX vs. PRNEX

Last updated Apr 2, 2026

Compare and contrast key facts about Delaware Ivy Natural Resources Fund (IGNAX) and T. Rowe Price New Era Fund (PRNEX).

IGNAX is managed by Delaware Funds. It was launched on Jan 1, 1997. PRNEX is managed by T. Rowe Price. It was launched on Jan 19, 1969.

Performance

IGNAX vs. PRNEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Natural Resources Fund (IGNAX) and T. Rowe Price New Era Fund (PRNEX). The values are adjusted to include any dividend payments, if applicable.

IGNAX vs. PRNEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGNAX Delaware Ivy Natural Resources Fund	18.73%	38.01%	-0.56%	1.26%	17.52%	26.06%	-12.38%	9.24%	-23.79%	2.89%
PRNEX T. Rowe Price New Era Fund	20.48%	26.94%	4.41%	1.02%	7.14%	25.35%	-2.63%	16.91%	-16.23%	10.57%

Returns By Period

In the year-to-date period, IGNAX achieves a 18.73% return, which is significantly lower than PRNEX's 20.48% return. Over the past 10 years, IGNAX has underperformed PRNEX with an annualized return of 8.47%, while PRNEX has yielded a comparatively higher 10.24% annualized return.

IGNAX

• 1D: 1.29%
• 1M: -0.81%
• YTD: 18.73%
• 6M: 27.22%
• 1Y: 61.27%
• 3Y*: 18.52%
• 5Y*: 16.68%
• 10Y*: 8.47%

PRNEX

• 1D: 1.12%
• 1M: -1.15%
• YTD: 20.48%
• 6M: 32.51%
• 1Y: 45.06%
• 3Y*: 17.70%
• 5Y*: 14.07%
• 10Y*: 10.24%

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

IGNAX vs. PRNEX - Expense Ratio Comparison

IGNAX has a 1.82% expense ratio, which is higher than PRNEX's 0.56% expense ratio.

IGNAX

Delaware Ivy Natural Resources Fund

PRNEX

T. Rowe Price New Era Fund

Return for Risk

IGNAX vs. PRNEX — Risk / Return Rank

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

IGNAX

IGNAX Risk / Return Rank: 96
IGNAX Sharpe Ratio Rank: 97
IGNAX Sortino Ratio Rank: 95
IGNAX Omega Ratio Rank: 95
IGNAX Calmar Ratio Rank: 96
IGNAX Martin Ratio Rank: 98

PRNEX

PRNEX Risk / Return Rank: 93
PRNEX Sharpe Ratio Rank: 95
PRNEX Sortino Ratio Rank: 93
PRNEX Omega Ratio Rank: 93
PRNEX Calmar Ratio Rank: 92
PRNEX Martin Ratio Rank: 95

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. PRNEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Natural Resources Fund (IGNAX) and T. Rowe Price New Era Fund (PRNEX). 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	PRNEX	Difference
Sharpe ratio Return per unit of total volatility	2.80	2.28	+0.52
Sortino ratio Return per unit of downside risk	3.33	2.86	+0.47
Omega ratio Gain probability vs. loss probability	1.52	1.46	+0.06
Calmar ratio Return relative to maximum drawdown	3.94	2.85	+1.09
Martin ratio Return relative to average drawdown	21.18	13.51	+7.66
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. PRNEX - Sharpe Ratio Comparison

The current IGNAX Sharpe Ratio is 2.80, which is comparable to the PRNEX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of IGNAX and PRNEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGNAX	PRNEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	2.28	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.75	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.50	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.38	-0.17

Correlation

The correlation between IGNAX and PRNEX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IGNAX vs. PRNEX - Dividend Comparison

IGNAX has not paid dividends to shareholders, while PRNEX's dividend yield for the trailing twelve months is around 12.79%.

	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%
PRNEX T. Rowe Price New Era Fund	12.79%	15.41%	4.81%	11.46%	4.47%	2.07%	2.54%	2.18%	1.69%	1.89%	1.28%	2.68%

Drawdowns

IGNAX vs. PRNEX - Drawdown Comparison

The maximum IGNAX drawdown since its inception was -77.49%, which is greater than PRNEX's maximum drawdown of -66.56%. Use the drawdown chart below to compare losses from any high point for IGNAX and PRNEX.

Drawdown Indicators

	IGNAX	PRNEX	Difference
Max Drawdown Largest peak-to-trough decline	-77.49%	-66.56%	-10.93%
Max Drawdown (1Y) Largest decline over 1 year	-15.59%	-16.24%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-24.79%	-21.50%	-3.29%
Max Drawdown (10Y) Largest decline over 10 years	-57.95%	-49.64%	-8.31%
Current Drawdown Current decline from peak	-9.23%	-1.15%	-8.08%
Average Drawdown Average peak-to-trough decline	-35.83%	-16.35%	-19.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	3.43%	-0.53%

Volatility

IGNAX vs. PRNEX - Volatility Comparison

Delaware Ivy Natural Resources Fund (IGNAX) has a higher volatility of 5.41% compared to T. Rowe Price New Era Fund (PRNEX) at 5.02%. This indicates that IGNAX's price experiences larger fluctuations and is considered to be riskier than PRNEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGNAX	PRNEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	5.02%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	14.80%	12.38%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	22.32%	20.20%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.99%	18.82%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.59%	20.70%	+1.89%