MAGRX vs. IGNAX

Last updated Jul 14, 2026

MAGRX (BlackRock Natural Resources Trust Fund) and IGNAX (Delaware Ivy Natural Resources Fund) are both Energy Equities funds. Over the past 10 years, MAGRX returned 8.69%/yr vs 6.26%/yr for IGNAX. Their correlation of 0.88 suggests significant overlap in exposure. MAGRX charges 0.87%/yr vs 1.82%/yr for IGNAX.

Performance

MAGRX vs. IGNAX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with MAGRX having a 9.49% return and IGNAX slightly lower at 9.15%. Over the past 10 years, MAGRX has outperformed IGNAX with an annualized return of 8.69%, while IGNAX has yielded a comparatively lower 6.26% annualized return.

MAGRX

• 1D: 0.75%
• 1M: -4.75%
• 6M: 3.68%
• YTD: 9.49%
• 1Y: 24.21%
• 3Y*: 11.20%
• 5Y*: 10.73%
• 10Y*: 8.69%

IGNAX

• 1D: 0.54%
• 1M: -6.77%
• 6M: 3.03%
• YTD: 9.15%
• 1Y: 33.04%
• 3Y*: 14.87%
• 5Y*: 13.80%
• 10Y*: 6.26%

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

MAGRX vs. IGNAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAGRX BlackRock Natural Resources Trust Fund	9.49%	30.26%	-5.65%	-1.36%	17.20%	30.76%	3.20%	15.34%	-17.95%	8.20%
IGNAX Delaware Ivy Natural Resources Fund	9.15%	38.01%	-0.56%	1.26%	17.52%	26.06%	-12.38%	9.24%	-23.79%	2.89%

Correlation

The correlation between MAGRX and IGNAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 31, 1996	0.88

The correlation between MAGRX and IGNAX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

MAGRX vs. IGNAX — Risk / Return Rank

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

MAGRX

MAGRX Risk / Return Rank: 38
MAGRX Sharpe Ratio Rank: 40
MAGRX Sortino Ratio Rank: 35
MAGRX Omega Ratio Rank: 38
MAGRX Calmar Ratio Rank: 42
MAGRX Martin Ratio Rank: 35

IGNAX

IGNAX Risk / Return Rank: 67
IGNAX Sharpe Ratio Rank: 67
IGNAX Sortino Ratio Rank: 54
IGNAX Omega Ratio Rank: 59
IGNAX Calmar Ratio Rank: 80
IGNAX Martin Ratio Rank: 74

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.

MAGRX vs. IGNAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Natural Resources Trust Fund (MAGRX) 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.

	MAGRX	IGNAX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.81	-0.40
Sortino ratio: Return per unit of downside risk	1.89	2.33	-0.45
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	1.99	2.89	-0.90
Martin ratio: Return relative to average drawdown	6.06	10.66	-4.60

MAGRX vs. IGNAX - Sharpe Ratio Comparison

The current MAGRX Sharpe Ratio is 1.41, which is comparable to the IGNAX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of MAGRX 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

MAGRX vs. IGNAX - Drawdown Comparison

The maximum MAGRX drawdown since its inception was -65.68%, smaller than the maximum IGNAX drawdown of -77.49%. Use the drawdown chart below to compare losses from any high point for MAGRX and IGNAX.

Drawdown Indicators

	MAGRX	IGNAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.68%	-77.49%	+11.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-11.40%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-22.86%	+3.40%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-24.79%	-1.51%
Max Drawdown (10Y) Largest decline over 10 years	-50.11%	-57.95%	+7.84%
Current Drawdown Current decline from peak	-10.27%	-16.56%	+6.29%
Average Drawdown Average peak-to-trough decline	-15.91%	-35.60%	+19.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	3.09%	+0.93%

Volatility

MAGRX vs. IGNAX - Volatility Comparison

BlackRock Natural Resources Trust Fund (MAGRX) and Delaware Ivy Natural Resources Fund (IGNAX) have volatilities of 5.04% and 5.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGRX	IGNAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	5.23%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	14.13%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	18.26%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.96%	21.96%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	22.41%	+0.03%

MAGRX vs. IGNAX - Expense Ratio Comparison

MAGRX has a 0.87% expense ratio, which is lower than IGNAX's 1.82% expense ratio.

Dividends

MAGRX vs. IGNAX - Dividend Comparison

MAGRX's dividend yield for the trailing twelve months is around 7.71%, 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%
MAGRX BlackRock Natural Resources Trust Fund	7.71%	8.44%	3.32%	4.16%	10.86%	3.90%	2.07%	2.97%	20.12%	49.72%	0.87%	8.29%

Frequently Asked Questions

Can I hold both MAGRX and IGNAX in my portfolio?

With a correlation of 0.92, MAGRX and IGNAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MAGRX or IGNAX?

IGNAX has higher volatility (5.23%) compared to MAGRX (5.04%). In terms of maximum drawdown, MAGRX dropped -65.68% vs IGNAX's -77.49%.

Which has better risk-adjusted returns?

IGNAX currently has the higher Sharpe Ratio (1.81 vs 1.41), 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.