IVOIX vs. OIFIX
IVOIX (Delaware Ivy Mid Cap Income Opportunities Fund) and OIFIX (Optimum Fixed Income Fund) are both mutual funds - IVOIX is a Mid Cap Value Equities fund managed by Delaware Funds, while OIFIX is a Intermediate Core-Plus Bond fund managed by Delaware Funds. Over the past 10 years, IVOIX returned 10.26%/yr vs 2.03%/yr for OIFIX. At a 0.04 correlation, their price movements are largely independent. IVOIX charges 0.83%/yr vs 0.80%/yr for OIFIX.
Performance
IVOIX vs. OIFIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IVOIX achieves a 7.38% return, which is significantly higher than OIFIX's 0.24% return. Over the past 10 years, IVOIX has outperformed OIFIX with an annualized return of 10.26%, while OIFIX has yielded a comparatively lower 2.03% annualized return.
IVOIX
- 1D
- -0.98%
- 1M
- 1.51%
- YTD
- 7.38%
- 6M
- 5.95%
- 1Y
- 12.33%
- 3Y*
- 12.29%
- 5Y*
- 7.18%
- 10Y*
- 10.26%
OIFIX
- 1D
- -0.24%
- 1M
- 0.73%
- YTD
- 0.24%
- 6M
- 0.48%
- 1Y
- 4.51%
- 3Y*
- 4.25%
- 5Y*
- -0.08%
- 10Y*
- 2.03%
IVOIX vs. OIFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOIX Delaware Ivy Mid Cap Income Opportunities Fund | 7.38% | 8.91% | 9.08% | 17.95% | -14.67% | 25.76% | 8.17% | 26.84% | -4.27% | 12.28% |
OIFIX Optimum Fixed Income Fund | 0.24% | 7.64% | 1.49% | 5.90% | -13.96% | -1.78% | 11.14% | 8.63% | -0.70% | 4.50% |
Correlation
The correlation between IVOIX and OIFIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.04 |
Over the past year, IVOIX and OIFIX have become more correlated (0.41) than their long-term average of 0.04, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IVOIX vs. OIFIX — Risk / Return Rank
IVOIX
OIFIX
IVOIX vs. OIFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) and Optimum Fixed Income Fund (OIFIX). 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.
| IVOIX | OIFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.66 | -0.21 |
| Martin ratioReturn relative to average drawdown | 4.10 | 4.88 | -0.78 |
Loading charts...
Drawdowns
IVOIX vs. OIFIX - Drawdown Comparison
The maximum IVOIX drawdown since its inception was -41.17%, which is greater than OIFIX's maximum drawdown of -19.46%. Use the drawdown chart below to compare losses from any high point for IVOIX and OIFIX.
Loading charts...
Drawdown Indicators
| IVOIX | OIFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.17% | -19.46% | -21.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -2.96% | -6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -19.75% | -6.67% | -13.08% |
Max Drawdown (5Y)Largest decline over 5 years | -21.87% | -19.30% | -2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -41.17% | -19.46% | -21.71% |
Current DrawdownCurrent decline from peak | -1.67% | -1.99% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -2.93% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 1.01% | +2.33% |
Volatility
IVOIX vs. OIFIX - Volatility Comparison
Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) has a higher volatility of 3.60% compared to Optimum Fixed Income Fund (OIFIX) at 1.12%. This indicates that IVOIX's price experiences larger fluctuations and is considered to be riskier than OIFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IVOIX | OIFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 1.12% | +2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.89% | 2.88% | +7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 3.90% | +9.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 5.91% | +11.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.04% | 4.88% | +14.16% |
IVOIX vs. OIFIX - Expense Ratio Comparison
IVOIX has a 0.83% expense ratio, which is higher than OIFIX's 0.80% expense ratio.
Dividends
IVOIX vs. OIFIX - Dividend Comparison
IVOIX's dividend yield for the trailing twelve months is around 14.17%, more than OIFIX's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOIX Delaware Ivy Mid Cap Income Opportunities Fund | 14.17% | 15.79% | 11.69% | 5.43% | 4.44% | 3.50% | 1.75% | 2.05% | 4.31% | 1.42% | 1.10% | 2.10% |
OIFIX Optimum Fixed Income Fund | 3.85% | 3.86% | 3.97% | 3.23% | 3.42% | 2.21% | 6.88% | 3.22% | 2.43% | 2.50% | 2.17% | 3.24% |
Frequently Asked Questions
IVOIX and OIFIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOIX has higher volatility (3.60%) compared to OIFIX (1.12%). In terms of maximum drawdown, IVOIX dropped -41.17% vs OIFIX's -19.46%.
OIFIX currently has the higher Sharpe Ratio (1.26 vs 1.04), 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.
Find the right allocation for IVOIX and OIFIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer