IMLPX vs. IEYYX

Last updated Jun 23, 2026

IMLPX (MainGate MLP Fund) and IEYYX (Delaware Ivy Energy Fund) are both Energy Equities funds. Over the past 10 years, IMLPX returned 9.27%/yr vs 1.22%/yr for IEYYX. A 0.71 correlation means they provide meaningful diversification when combined. IMLPX charges 1.44%/yr vs 1.28%/yr for IEYYX.

Performance

IMLPX vs. IEYYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainGate MLP Fund (IMLPX) and Delaware Ivy Energy Fund (IEYYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMLPX achieves a 17.62% return, which is significantly higher than IEYYX's 16.42% return. Over the past 10 years, IMLPX has outperformed IEYYX with an annualized return of 9.27%, while IEYYX has yielded a comparatively lower 1.22% annualized return.

IMLPX

• 1D: -0.09%
• 1M: -5.60%
• YTD: 17.62%
• 6M: 18.45%
• 1Y: 18.09%
• 3Y*: 22.92%
• 5Y*: 20.99%
• 10Y*: 9.27%

IEYYX

• 1D: -0.47%
• 1M: -2.21%
• YTD: 16.42%
• 6M: 16.21%
• 1Y: 39.47%
• 3Y*: 10.27%
• 5Y*: 14.98%
• 10Y*: 1.22%

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

IMLPX vs. IEYYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMLPX MainGate MLP Fund	17.62%	2.77%	34.76%	20.26%	33.69%	44.24%	-27.81%	7.14%	-22.20%	-7.92%
IEYYX Delaware Ivy Energy Fund	16.42%	22.56%	-3.60%	-4.08%	41.14%	43.34%	-38.68%	4.25%	-34.47%	-12.98%

Correlation

The correlation between IMLPX and IEYYX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Feb 22, 2011	0.71

Over the past year, the correlation between IMLPX and IEYYX has dropped to 0.23 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

IMLPX vs. IEYYX — Risk / Return Rank

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

IMLPX

IMLPX Risk / Return Rank: 34
IMLPX Sharpe Ratio Rank: 27
IMLPX Sortino Ratio Rank: 25
IMLPX Omega Ratio Rank: 23
IMLPX Calmar Ratio Rank: 61
IMLPX Martin Ratio Rank: 32

IEYYX

IEYYX Risk / Return Rank: 92
IEYYX Sharpe Ratio Rank: 94
IEYYX Sortino Ratio Rank: 89
IEYYX Omega Ratio Rank: 84
IEYYX Calmar Ratio Rank: 98
IEYYX Martin Ratio Rank: 97

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.

IMLPX vs. IEYYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainGate MLP Fund (IMLPX) and Delaware Ivy Energy Fund (IEYYX). 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.

	IMLPX	IEYYX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.97	-1.59
Sortino ratio: Return per unit of downside risk	1.95	3.99	-2.04
Omega ratio: Gain probability vs. loss probability	1.24	1.52	-0.28
Calmar ratio: Return relative to maximum drawdown	2.88	7.14	-4.26
Martin ratio: Return relative to average drawdown	6.85	26.28	-19.43

IMLPX vs. IEYYX - Sharpe Ratio Comparison

The current IMLPX Sharpe Ratio is 1.38, which is lower than the IEYYX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of IMLPX and IEYYX, 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

IMLPX vs. IEYYX - Drawdown Comparison

The maximum IMLPX drawdown since its inception was -76.39%, smaller than the maximum IEYYX drawdown of -85.16%. Use the drawdown chart below to compare losses from any high point for IMLPX and IEYYX.

Drawdown Indicators

	IMLPX	IEYYX	Difference
Max Drawdown Largest peak-to-trough decline	-76.39%	-85.16%	+8.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-5.56%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-15.93%	-22.71%	+6.78%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	-30.43%	+8.43%
Max Drawdown (10Y) Largest decline over 10 years	-72.19%	-81.45%	+9.26%
Current Drawdown Current decline from peak	-5.98%	-24.76%	+18.78%
Average Drawdown Average peak-to-trough decline	-17.66%	-35.14%	+17.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	1.51%	+1.21%

Volatility

IMLPX vs. IEYYX - Volatility Comparison

MainGate MLP Fund (IMLPX) and Delaware Ivy Energy Fund (IEYYX) have volatilities of 4.89% and 4.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMLPX	IEYYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	4.67%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	10.36%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.50%	13.39%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	21.69%	-1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.53%	30.83%	-4.30%

IMLPX vs. IEYYX - Expense Ratio Comparison

IMLPX has a 1.44% expense ratio, which is higher than IEYYX's 1.28% expense ratio.

Dividends

IMLPX vs. IEYYX - Dividend Comparison

IMLPX's dividend yield for the trailing twelve months is around 4.40%, more than IEYYX's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEYYX Delaware Ivy Energy Fund	0.75%	0.87%	0.91%	2.37%	1.33%	1.49%	2.17%	0.00%	0.00%	0.36%	0.00%	0.00%
IMLPX MainGate MLP Fund	4.40%	4.55%	4.22%	5.04%	5.75%	7.22%	11.02%	9.83%	9.65%	6.98%	6.02%	7.01%

Frequently Asked Questions

Can I hold both IMLPX and IEYYX in my portfolio?

IMLPX and IEYYX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMLPX or IEYYX?

IMLPX has higher volatility (4.89%) compared to IEYYX (4.67%). In terms of maximum drawdown, IMLPX dropped -76.39% vs IEYYX's -85.16%.

Which has better risk-adjusted returns?

IEYYX currently has the higher Sharpe Ratio (2.97 vs 1.38), 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.