KYN vs. IGNAX

Last updated Aug 4, 2026

KYN (Kayne Anderson Energy Infrastructure Fund) and IGNAX (Delaware Ivy Natural Resources Fund) are both mutual funds - KYN is a Infrastructure Equities fund actively managed by Kayne Anderson, while IGNAX is a Energy Equities fund managed by Delaware Funds. Over the past 10 years, KYN returned 7.10%/yr vs 7.20%/yr for IGNAX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. KYN charges 2.00%/yr vs 1.82%/yr for IGNAX.

Performance

KYN vs. IGNAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kayne Anderson Energy Infrastructure Fund (KYN) and Delaware Ivy Natural Resources Fund (IGNAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KYN achieves a 22.09% return, which is significantly higher than IGNAX's 13.92% return. Both investments have delivered pretty close results over the past 10 years, with KYN having a 7.10% annualized return and IGNAX not far ahead at 7.20%.

KYN

• 1D: -1.03%
• 1M: 4.68%
• 6M: 14.42%
• YTD: 22.09%
• 1Y: 26.20%
• 3Y*: 29.90%
• 5Y*: 23.63%
• 10Y*: 7.10%
• ALL TIME*: 6.14%

IGNAX

• 1D: -0.72%
• 1M: 4.93%
• 6M: 3.58%
• YTD: 13.92%
• 1Y: 43.97%
• 3Y*: 15.05%
• 5Y*: 15.21%
• 10Y*: 7.20%
• ALL TIME*: 5.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IGNAX Delaware Ivy Natural Resources Fund	$0.00	$0.00	$0.00
KYN Kayne Anderson Energy Infrastructure Fund	$4.42M	$5.46M	$5.51M

KYN vs. IGNAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KYN Kayne Anderson Energy Infrastructure Fund	22.09%	5.34%	60.45%	13.19%	20.50%	44.21%	-51.60%	11.52%	-19.35%	7.33%
IGNAX Delaware Ivy Natural Resources Fund	13.92%	38.01%	-0.56%	1.26%	17.52%	26.06%	-12.38%	9.24%	-23.79%	2.89%

Correlation

The correlation between KYN and IGNAX is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Sep 28, 2004	0.51

Over the past year, the correlation between KYN and IGNAX has dropped to 0.28 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

KYN vs. IGNAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KYN

KYN Risk / Return Rank: 57
KYN Sharpe Ratio Rank: 52
KYN Sortino Ratio Rank: 49
KYN Omega Ratio Rank: 44
KYN Calmar Ratio Rank: 86
KYN Martin Ratio Rank: 56

IGNAX

IGNAX Risk / Return Rank: 87
IGNAX Sharpe Ratio Rank: 91
IGNAX Sortino Ratio Rank: 81
IGNAX Omega Ratio Rank: 82
IGNAX Calmar Ratio Rank: 92
IGNAX Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KYN vs. IGNAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kayne Anderson Energy Infrastructure Fund (KYN) and Delaware Ivy Natural Resources Fund (IGNAX). 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.

	KYN	IGNAX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.33	-0.85
Sortino ratio: Return per unit of downside risk	2.05	2.91	-0.86
Omega ratio: Gain probability vs. loss probability	1.25	1.40	-0.15
Calmar ratio: Return relative to maximum drawdown	3.08	3.74	-0.65
Martin ratio: Return relative to average drawdown	7.94	12.17	-4.22

KYN vs. IGNAX - Sharpe Ratio Comparison

The current KYN Sharpe Ratio is 1.48, which is lower than the IGNAX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of KYN and IGNAX, 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

KYN vs. IGNAX - Drawdown Comparison

The maximum KYN drawdown since its inception was -91.43%, which is greater than IGNAX's maximum drawdown of -77.49%. Use the drawdown chart below to compare losses from any high point for KYN and IGNAX.

Drawdown Indicators

	KYN	IGNAX	Difference
Max Drawdown Largest peak-to-trough decline	-91.43%	-77.49%	-13.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-11.40%	+2.87%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-22.86%	+1.21%
Max Drawdown (5Y) Largest decline over 5 years	-21.65%	-24.79%	+3.14%
Max Drawdown (10Y) Largest decline over 10 years	-87.74%	-57.95%	-29.79%
Current Drawdown Current decline from peak	-3.34%	-12.92%	+9.58%
Average Drawdown Average peak-to-trough decline	-26.77%	-35.56%	+8.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.49%	-0.18%

Volatility

KYN vs. IGNAX - Volatility Comparison

Kayne Anderson Energy Infrastructure Fund (KYN) has a higher volatility of 6.01% compared to Delaware Ivy Natural Resources Fund (IGNAX) at 4.10%. This indicates that KYN's price experiences larger fluctuations and is considered to be riskier than IGNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KYN	IGNAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	4.10%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	14.10%	-1.26%
Volatility (1Y) Calculated over the trailing 1-year period	17.79%	18.32%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.84%	21.91%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.77%	22.39%	+18.38%

KYN vs. IGNAX - Expense Ratio Comparison

KYN has a 2.00% expense ratio, which is higher than IGNAX's 1.82% expense ratio.

Dividends

KYN vs. IGNAX - Dividend Comparison

KYN's dividend yield for the trailing twelve months is around 6.91%, while IGNAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGNAX Delaware Ivy Natural Resources Fund	0.00%	0.00%	5.68%	1.94%	2.02%	2.30%	0.29%	1.75%	0.00%	0.00%	0.06%	0.00%
KYN Kayne Anderson Energy Infrastructure Fund	6.91%	7.75%	8.34%	9.45%	9.05%	6.42%	16.17%	10.34%	14.17%	9.97%	11.24%	15.20%

Frequently Asked Questions

Can I hold both KYN and IGNAX in my portfolio?

KYN and IGNAX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KYN or IGNAX?

KYN has higher volatility (6.01%) compared to IGNAX (4.10%). In terms of maximum drawdown, KYN dropped -91.43% vs IGNAX's -77.49%.

Which has better risk-adjusted returns?

IGNAX currently has the higher Sharpe Ratio (2.33 vs 1.48), 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.