IVIAX vs. OILGX

Last updated Jun 23, 2026

IVIAX (Delaware Ivy International Core Equity Fund) and OILGX (Optimum Large Cap Growth Fund) are both mutual funds - IVIAX is a Foreign Large Cap Equities fund managed by Delaware Funds, while OILGX is a Large Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, IVIAX returned 7.85%/yr vs 17.19%/yr for OILGX. A 0.67 correlation means they provide meaningful diversification when combined. IVIAX charges 1.04%/yr vs 0.89%/yr for OILGX.

Performance

IVIAX vs. OILGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy International Core Equity Fund (IVIAX) and Optimum Large Cap Growth Fund (OILGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVIAX achieves a 9.22% return, which is significantly higher than OILGX's 6.27% return. Over the past 10 years, IVIAX has underperformed OILGX with an annualized return of 7.85%, while OILGX has yielded a comparatively higher 17.19% annualized return.

IVIAX

• 1D: 2.24%
• 1M: 4.50%
• YTD: 9.22%
• 6M: 10.25%
• 1Y: 16.49%
• 3Y*: 13.32%
• 5Y*: 6.96%
• 10Y*: 7.85%

OILGX

• 1D: 1.42%
• 1M: -0.49%
• YTD: 6.27%
• 6M: 5.55%
• 1Y: 24.37%
• 3Y*: 26.88%
• 5Y*: 13.18%
• 10Y*: 17.19%

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

IVIAX vs. OILGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVIAX Delaware Ivy International Core Equity Fund	9.22%	23.95%	3.66%	16.71%	-15.37%	13.99%	7.08%	18.48%	-17.87%	22.74%
OILGX Optimum Large Cap Growth Fund	6.27%	15.97%	49.90%	41.16%	-34.69%	17.88%	33.81%	31.34%	-0.80%	32.46%

Correlation

The correlation between IVIAX and OILGX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 23, 2003	0.67

The correlation between IVIAX and OILGX has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

Return for Risk

IVIAX vs. OILGX — Risk / Return Rank

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

IVIAX

IVIAX Risk / Return Rank: 14
IVIAX Sharpe Ratio Rank: 12
IVIAX Sortino Ratio Rank: 13
IVIAX Omega Ratio Rank: 14
IVIAX Calmar Ratio Rank: 12
IVIAX Martin Ratio Rank: 16

OILGX

OILGX Risk / Return Rank: 25
OILGX Sharpe Ratio Rank: 28
OILGX Sortino Ratio Rank: 25
OILGX Omega Ratio Rank: 26
OILGX Calmar Ratio Rank: 21
OILGX Martin Ratio Rank: 24

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.

IVIAX vs. OILGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy International Core Equity Fund (IVIAX) and Optimum Large Cap Growth Fund (OILGX). 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.

	IVIAX	OILGX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.42	-0.52
Sortino ratio: Return per unit of downside risk	1.39	1.95	-0.57
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.06
Calmar ratio: Return relative to maximum drawdown	1.12	1.55	-0.44
Martin ratio: Return relative to average drawdown	4.03	5.36	-1.33

IVIAX vs. OILGX - Sharpe Ratio Comparison

The current IVIAX Sharpe Ratio is 0.90, which is lower than the OILGX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of IVIAX and OILGX, 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

IVIAX vs. OILGX - Drawdown Comparison

The maximum IVIAX drawdown since its inception was -56.37%, roughly equal to the maximum OILGX drawdown of -54.28%. Use the drawdown chart below to compare losses from any high point for IVIAX and OILGX.

Drawdown Indicators

	IVIAX	OILGX	Difference
Max Drawdown Largest peak-to-trough decline	-56.37%	-54.28%	-2.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.58%	-15.31%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-15.50%	-23.75%	+8.25%
Max Drawdown (5Y) Largest decline over 5 years	-30.25%	-39.97%	+9.72%
Max Drawdown (10Y) Largest decline over 10 years	-40.87%	-39.97%	-0.90%
Current Drawdown Current decline from peak	0.00%	-3.71%	+3.71%
Average Drawdown Average peak-to-trough decline	-12.28%	-8.47%	-3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	4.43%	-0.40%

Volatility

IVIAX vs. OILGX - Volatility Comparison

Delaware Ivy International Core Equity Fund (IVIAX) has a higher volatility of 7.51% compared to Optimum Large Cap Growth Fund (OILGX) at 6.14%. This indicates that IVIAX's price experiences larger fluctuations and is considered to be riskier than OILGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVIAX	OILGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	6.14%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	15.95%	13.11%	+2.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.11%	16.80%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	23.51%	-5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	22.09%	-4.57%

IVIAX vs. OILGX - Expense Ratio Comparison

IVIAX has a 1.04% expense ratio, which is higher than OILGX's 0.89% expense ratio.

Dividends

IVIAX vs. OILGX - Dividend Comparison

IVIAX's dividend yield for the trailing twelve months is around 11.03%, less than OILGX's 13.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVIAX Delaware Ivy International Core Equity Fund	11.03%	12.05%	0.69%	2.55%	0.82%	2.43%	0.98%	2.39%	9.63%	1.01%	1.59%	0.82%
OILGX Optimum Large Cap Growth Fund	13.22%	14.05%	20.62%	11.50%	4.95%	14.42%	7.72%	2.98%	14.76%	18.13%	3.68%	10.49%

Frequently Asked Questions

Can I hold both IVIAX and OILGX in my portfolio?

IVIAX and OILGX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVIAX or OILGX?

IVIAX has higher volatility (7.51%) compared to OILGX (6.14%). In terms of maximum drawdown, IVIAX dropped -56.37% vs OILGX's -54.28%.

Which has better risk-adjusted returns?

OILGX currently has the higher Sharpe Ratio (1.42 vs 0.90), 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.