IVOIX vs. WLGAX

Last updated Jun 24, 2026

IVOIX (Delaware Ivy Mid Cap Income Opportunities Fund) and WLGAX (Delaware Ivy Large Cap Growth Fund) are both mutual funds - IVOIX is a Mid Cap Value Equities fund managed by Delaware Funds, while WLGAX is a Large Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, IVOIX returned 10.26%/yr vs 16.05%/yr for WLGAX. A 0.70 correlation means they provide meaningful diversification when combined. IVOIX charges 0.83%/yr vs 0.89%/yr for WLGAX.

Performance

IVOIX vs. WLGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) and Delaware Ivy Large Cap Growth Fund (WLGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOIX achieves a 7.38% return, which is significantly higher than WLGAX's -2.77% return. Over the past 10 years, IVOIX has underperformed WLGAX with an annualized return of 10.26%, while WLGAX has yielded a comparatively higher 16.05% 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%

WLGAX

• 1D: -1.47%
• 1M: -2.98%
• YTD: -2.77%
• 6M: -3.43%
• 1Y: 5.90%
• 3Y*: 13.77%
• 5Y*: 8.99%
• 10Y*: 16.05%

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

IVOIX vs. WLGAX - 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%
WLGAX Delaware Ivy Large Cap Growth Fund	-2.77%	8.89%	25.97%	37.78%	-27.04%	29.95%	30.75%	36.52%	2.37%	29.02%

Correlation

The correlation between IVOIX and WLGAX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.70

Over the past year, the correlation between IVOIX and WLGAX has dropped to 0.44 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

IVOIX vs. WLGAX — Risk / Return Rank

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

IVOIX

IVOIX Risk / Return Rank: 16
IVOIX Sharpe Ratio Rank: 16
IVOIX Sortino Ratio Rank: 17
IVOIX Omega Ratio Rank: 15
IVOIX Calmar Ratio Rank: 18
IVOIX Martin Ratio Rank: 16

WLGAX

WLGAX Risk / Return Rank: 6
WLGAX Sharpe Ratio Rank: 6
WLGAX Sortino Ratio Rank: 6
WLGAX Omega Ratio Rank: 6
WLGAX Calmar Ratio Rank: 5
WLGAX Martin Ratio Rank: 5

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.

IVOIX vs. WLGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) 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.

	IVOIX	WLGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	0.45	+0.60
Sortino ratio: Return per unit of downside risk	1.58	0.69	+0.88
Omega ratio: Gain probability vs. loss probability	1.18	1.09	+0.10
Calmar ratio: Return relative to maximum drawdown	1.45	0.37	+1.08
Martin ratio: Return relative to average drawdown	4.10	1.09	+3.00

IVOIX vs. WLGAX - Sharpe Ratio Comparison

The current IVOIX Sharpe Ratio is 1.04, which is higher than the WLGAX Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of IVOIX and WLGAX, 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

IVOIX vs. WLGAX - Drawdown Comparison

The maximum IVOIX drawdown since its inception was -41.17%, smaller than the maximum WLGAX drawdown of -49.78%. Use the drawdown chart below to compare losses from any high point for IVOIX and WLGAX.

Drawdown Indicators

	IVOIX	WLGAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.17%	-49.78%	+8.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-18.12%	+8.62%
Max Drawdown (3Y) Largest decline over 3 years	-19.75%	-19.31%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-21.87%	-37.00%	+15.13%
Max Drawdown (10Y) Largest decline over 10 years	-41.17%	-37.00%	-4.17%
Current Drawdown Current decline from peak	-1.67%	-5.84%	+4.17%
Average Drawdown Average peak-to-trough decline	-4.96%	-13.11%	+8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	6.08%	-2.74%

Volatility

IVOIX vs. WLGAX - Volatility Comparison

The current volatility for Delaware Ivy Mid Cap Income Opportunities Fund (IVOIX) is 3.60%, while Delaware Ivy Large Cap Growth Fund (WLGAX) has a volatility of 5.73%. This indicates that IVOIX experiences smaller price fluctuations and is considered to be less risky than WLGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOIX	WLGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	5.73%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	12.30%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	13.16%	14.92%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	20.72%	-3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	20.75%	-1.71%

IVOIX vs. WLGAX - Expense Ratio Comparison

IVOIX has a 0.83% expense ratio, which is lower than WLGAX's 0.89% expense ratio.

Dividends

IVOIX vs. WLGAX - Dividend Comparison

IVOIX's dividend yield for the trailing twelve months is around 14.17%, more than WLGAX's 8.65% 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%
WLGAX Delaware Ivy Large Cap Growth Fund	8.65%	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

Can I hold both IVOIX and WLGAX in my portfolio?

IVOIX and WLGAX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOIX or WLGAX?

WLGAX has higher volatility (5.73%) compared to IVOIX (3.60%). In terms of maximum drawdown, IVOIX dropped -41.17% vs WLGAX's -49.78%.

Which has better risk-adjusted returns?

IVOIX currently has the higher Sharpe Ratio (1.04 vs 0.45), 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.