IPOAX vs. USD=X
IPOAX (Delaware Ivy Systematic Emerging Markets Equity Fund) is Emerging Markets Diversified fund managed by Delaware Funds by Macquarie, while USD=X (USD Cash) is a currency. Over the past 10 years, IPOAX returned 9.37%/yr vs 0.00%/yr for USD=X.
Performance
IPOAX vs. USD=X - Performance Comparison
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Returns By Period
IPOAX
- 1D
- 0.20%
- 1M
- -2.13%
- 6M
- 17.10%
- YTD
- 21.36%
- 1Y
- 36.53%
- 3Y*
- 19.54%
- 5Y*
- 4.01%
- 10Y*
- 9.37%
USD=X
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
IPOAX vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 21.36% | 26.53% | 7.71% | 10.86% | -27.56% | -4.67% | 35.01% | 23.23% | -19.83% | 42.47% |
USD=X USD Cash | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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Return for Risk
IPOAX vs. USD=X — Risk / Return Rank
IPOAX
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IPOAX vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) and USD Cash (USD=X). 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.
| IPOAX | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | — | — |
| Martin ratioReturn relative to average drawdown | 9.16 | — | — |
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Drawdowns
IPOAX vs. USD=X - Drawdown Comparison
The maximum IPOAX drawdown since its inception was -67.11%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for IPOAX and USD=X.
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Drawdown Indicators
| IPOAX | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.11% | 0.00% | -67.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | 0.00% | -13.39% |
Max Drawdown (3Y)Largest decline over 3 years | -16.86% | 0.00% | -16.86% |
Max Drawdown (5Y)Largest decline over 5 years | -41.19% | 0.00% | -41.19% |
Max Drawdown (10Y)Largest decline over 10 years | -45.79% | 0.00% | -45.79% |
Current DrawdownCurrent decline from peak | -6.14% | 0.00% | -6.14% |
Average DrawdownAverage peak-to-trough decline | -23.61% | 0.00% | -23.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 0.00% | +3.96% |
Volatility
IPOAX vs. USD=X - Volatility Comparison
Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) has a higher volatility of 10.53% compared to USD Cash (USD=X) at 0.00%. This indicates that IPOAX's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPOAX | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 0.00% | +10.53% |
Volatility (6M)Calculated over the trailing 6-month period | 19.42% | 0.00% | +19.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.43% | 0.00% | +21.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.61% | 0.00% | +20.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.46% | 0.00% | +20.46% |
Frequently Asked Questions
IPOAX has higher volatility (10.53%) compared to USD=X (0.00%). In terms of maximum drawdown, IPOAX dropped -67.11% vs USD=X's 0.00%.
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