IPOAX vs. WLGAX
IPOAX (Delaware Ivy Systematic Emerging Markets Equity Fund) and WLGAX (Delaware Ivy Large Cap Growth Fund) are both mutual funds - IPOAX is a Emerging Markets Equities fund managed by Delaware Funds, while WLGAX is a Large Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, IPOAX returned 8.80%/yr vs 15.39%/yr for WLGAX. Their 0.49 correlation means their historical movements had little consistent relationship. IPOAX charges 1.15%/yr vs 0.89%/yr for WLGAX.
Performance
IPOAX vs. WLGAX - Performance Comparison
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Returns By Period
In the year-to-date period, IPOAX achieves a 18.05% return, which is significantly higher than WLGAX's -0.41% return. Over the past 10 years, IPOAX has underperformed WLGAX with an annualized return of 8.80%, while WLGAX has yielded a comparatively higher 15.39% annualized return.
IPOAX
- 1D
- 4.34%
- 1M
- -1.19%
- 6M
- 7.44%
- YTD
- 18.05%
- 1Y
- 34.17%
- 3Y*
- 16.79%
- 5Y*
- 4.31%
- 10Y*
- 8.80%
- ALL TIME*
- 5.33%
WLGAX
- 1D
- 1.65%
- 1M
- -0.19%
- 6M
- 2.71%
- YTD
- -0.41%
- 1Y
- 4.17%
- 3Y*
- 13.21%
- 5Y*
- 8.45%
- 10Y*
- 15.39%
- ALL TIME*
- 9.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IPOAX vs. WLGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 18.05% | 26.53% | 7.71% | 10.86% | -27.56% | -4.67% | 35.01% | 23.23% | -19.83% | 42.47% |
WLGAX Delaware Ivy Large Cap Growth Fund | -0.41% | 8.89% | 25.97% | 37.78% | -27.04% | 29.95% | 30.75% | 36.52% | 2.37% | 29.02% |
Correlation
The correlation between IPOAX and WLGAX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | 0.49 |
The correlation between IPOAX and WLGAX has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
IPOAX vs. WLGAX — Risk / Return Rank
IPOAX
WLGAX
IPOAX vs. WLGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) and Delaware Ivy Large Cap Growth Fund (WLGAX). 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 | WLGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.03 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 0.09 | +2.21 |
| Martin ratioReturn relative to average drawdown | 6.92 | 0.26 | +6.65 |
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Drawdowns
IPOAX vs. WLGAX - Drawdown Comparison
The maximum IPOAX drawdown since its inception was -67.11%, which is greater than WLGAX's maximum drawdown of -49.78%. Use the drawdown chart below to compare losses from any high point for IPOAX and WLGAX.
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Drawdown Indicators
| IPOAX | WLGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.11% | -49.78% | -17.33% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -18.12% | +4.73% |
Max Drawdown (3Y)Largest decline over 3 years | -16.86% | -19.31% | +2.45% |
Max Drawdown (5Y)Largest decline over 5 years | -40.84% | -37.00% | -3.84% |
Max Drawdown (10Y)Largest decline over 10 years | -45.79% | -37.00% | -8.79% |
Current DrawdownCurrent decline from peak | -8.70% | -3.56% | -5.14% |
Average DrawdownAverage peak-to-trough decline | -23.58% | -13.07% | -10.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 6.24% | -1.78% |
Volatility
IPOAX vs. WLGAX - Volatility Comparison
Delaware Ivy Systematic Emerging Markets Equity Fund (IPOAX) has a higher volatility of 9.36% compared to Delaware Ivy Large Cap Growth Fund (WLGAX) at 3.87%. This indicates that IPOAX's price experiences larger fluctuations and is considered to be riskier than WLGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPOAX | WLGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.36% | 3.87% | +5.49% |
Volatility (6M)Calculated over the trailing 6-month period | 20.68% | 12.50% | +8.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.72% | 15.34% | +7.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.78% | 20.77% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.60% | 20.72% | -0.12% |
IPOAX vs. WLGAX - Expense Ratio Comparison
IPOAX has a 1.15% expense ratio, which is higher than WLGAX's 0.89% expense ratio.
Dividends
IPOAX vs. WLGAX - Dividend Comparison
IPOAX's dividend yield for the trailing twelve months is around 8.48%, which matches WLGAX's 8.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPOAX Delaware Ivy Systematic Emerging Markets Equity Fund | 8.48% | 10.01% | 3.35% | 3.23% | 14.83% | 0.55% | 0.75% | 0.74% | 0.68% | 0.00% | 0.00% | 0.93% |
WLGAX Delaware Ivy Large Cap Growth Fund | 8.45% | 8.41% | 3.31% | 3.07% | 12.91% | 9.68% | 6.56% | 12.84% | 14.16% | 4.45% | 5.19% | 6.43% |
Frequently Asked Questions
IPOAX and WLGAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPOAX has higher volatility (9.36%) compared to WLGAX (3.87%). In terms of maximum drawdown, IPOAX dropped -67.11% vs WLGAX's -49.78%.
IPOAX currently has the higher Sharpe Ratio (1.36 vs 0.11), 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.
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