IPOAX vs. BEMIX
Compare and contrast key facts about Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) and Brandes Emerging Markets Fund (BEMIX).
IPOAX is managed by Delaware Funds by Macquarie. It was launched on Oct 24, 1993. BEMIX is managed by Brandes. It was launched on Jan 30, 2011.
Performance
IPOAX vs. BEMIX - Performance Comparison
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IPOAX vs. BEMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 2.17% | 26.53% | 7.71% | 10.86% | -27.56% | -4.67% | 35.01% | 23.23% | -19.83% | 42.47% |
BEMIX Brandes Emerging Markets Fund | 2.96% | 47.83% | 4.01% | 22.53% | -15.91% | 1.68% | -6.17% | 18.60% | -15.56% | 26.00% |
Returns By Period
In the year-to-date period, IPOAX achieves a 2.17% return, which is significantly lower than BEMIX's 2.96% return. Both investments have delivered pretty close results over the past 10 years, with IPOAX having a 8.30% annualized return and BEMIX not far behind at 8.04%.
IPOAX
- 1D
- 0.09%
- 1M
- -12.40%
- YTD
- 2.17%
- 6M
- 7.77%
- 1Y
- 27.28%
- 3Y*
- 13.56%
- 5Y*
- 0.86%
- 10Y*
- 8.30%
BEMIX
- 1D
- -0.79%
- 1M
- -11.64%
- YTD
- 2.96%
- 6M
- 11.40%
- 1Y
- 45.15%
- 3Y*
- 21.23%
- 5Y*
- 9.84%
- 10Y*
- 8.04%
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IPOAX vs. BEMIX - Expense Ratio Comparison
IPOAX has a 1.15% expense ratio, which is higher than BEMIX's 1.12% expense ratio.
Return for Risk
IPOAX vs. BEMIX — Risk / Return Rank
IPOAX
BEMIX
IPOAX vs. BEMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) and Brandes Emerging Markets Fund (BEMIX). 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.
| IPOAX | BEMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.46 | 2.57 | -1.11 |
Sortino ratioReturn per unit of downside risk | 1.92 | 3.24 | -1.32 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.51 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.45 | -1.62 |
Martin ratioReturn relative to average drawdown | 6.85 | 14.31 | -7.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IPOAX | BEMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.57 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.61 | -0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.48 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.24 | -0.01 |
Correlation
The correlation between IPOAX and BEMIX is 0.78, 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
IPOAX vs. BEMIX - Dividend Comparison
IPOAX's dividend yield for the trailing twelve months is around 9.80%, more than BEMIX's 2.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 9.80% | 10.01% | 3.35% | 3.23% | 14.83% | 0.55% | 0.75% | 0.74% | 0.68% | 0.00% | 0.00% | 0.93% |
BEMIX Brandes Emerging Markets Fund | 2.09% | 2.15% | 3.04% | 2.45% | 2.86% | 2.31% | 1.31% | 2.56% | 1.55% | 1.41% | 2.20% | 1.54% |
Drawdowns
IPOAX vs. BEMIX - Drawdown Comparison
The maximum IPOAX drawdown since its inception was -67.11%, which is greater than BEMIX's maximum drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for IPOAX and BEMIX.
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Drawdown Indicators
| IPOAX | BEMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.11% | -46.05% | -21.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -12.07% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -42.92% | -36.37% | -6.55% |
Max Drawdown (10Y)Largest decline over 10 years | -45.79% | -46.05% | +0.26% |
Current DrawdownCurrent decline from peak | -13.31% | -12.07% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -23.79% | -14.32% | -9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 2.91% | +0.67% |
Volatility
IPOAX vs. BEMIX - Volatility Comparison
Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) has a higher volatility of 8.95% compared to Brandes Emerging Markets Fund (BEMIX) at 8.42%. This indicates that IPOAX's price experiences larger fluctuations and is considered to be riskier than BEMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPOAX | BEMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 8.42% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 13.68% | 12.56% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 17.37% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 16.15% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.12% | 16.96% | +3.16% |