MCMVX vs. FIUSX

Last updated Jun 5, 2026

MCMVX (Monongahela All Cap Value Fund) and FIUSX (Delaware Opportunity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, MCMVX returned 12.92%/yr vs 11.07%/yr for FIUSX. Their correlation of 0.90 suggests significant overlap in exposure. MCMVX charges 0.85%/yr vs 1.15%/yr for FIUSX.

Performance

MCMVX vs. FIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monongahela All Cap Value Fund (MCMVX) and Delaware Opportunity Fund (FIUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCMVX achieves a 14.74% return, which is significantly lower than FIUSX's 18.90% return. Over the past 10 years, MCMVX has outperformed FIUSX with an annualized return of 12.92%, while FIUSX has yielded a comparatively lower 11.07% annualized return.

MCMVX

• 1D: -0.38%
• 1M: 4.66%
• YTD: 14.74%
• 6M: 14.08%
• 1Y: 27.78%
• 3Y*: 17.76%
• 5Y*: 8.98%
• 10Y*: 12.92%

FIUSX

• 1D: 0.08%
• 1M: 1.41%
• YTD: 18.90%
• 6M: 18.41%
• 1Y: 34.96%
• 3Y*: 20.09%
• 5Y*: 10.63%
• 10Y*: 11.07%

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

MCMVX vs. FIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCMVX Monongahela All Cap Value Fund	14.74%	9.74%	15.38%	12.18%	-7.73%	22.57%	13.24%	26.98%	-8.15%	20.85%
FIUSX Delaware Opportunity Fund	18.90%	12.60%	14.07%	11.68%	-9.62%	30.95%	0.88%	29.58%	-15.71%	18.67%

Correlation

The correlation between MCMVX and FIUSX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
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 Jul 5, 2013	0.90

The correlation between MCMVX and FIUSX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

MCMVX vs. FIUSX — Risk / Return Rank

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

MCMVX

MCMVX Risk / Return Rank: 53
MCMVX Sharpe Ratio Rank: 46
MCMVX Sortino Ratio Rank: 46
MCMVX Omega Ratio Rank: 40
MCMVX Calmar Ratio Rank: 73
MCMVX Martin Ratio Rank: 62

FIUSX

FIUSX Risk / Return Rank: 80
FIUSX Sharpe Ratio Rank: 75
FIUSX Sortino Ratio Rank: 74
FIUSX Omega Ratio Rank: 65
FIUSX Calmar Ratio Rank: 93
FIUSX Martin Ratio Rank: 92

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.

MCMVX vs. FIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monongahela All Cap Value Fund (MCMVX) and Delaware Opportunity Fund (FIUSX). 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.

	MCMVX	FIUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.51	-0.59
Sortino ratio: Return per unit of downside risk	2.78	3.60	-0.81
Omega ratio: Gain probability vs. loss probability	1.33	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	3.24	5.12	-1.88
Martin ratio: Return relative to average drawdown	11.85	19.10	-7.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCMVX vs. FIUSX - Sharpe Ratio Comparison

The current MCMVX Sharpe Ratio is 1.91, which is comparable to the FIUSX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of MCMVX and FIUSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MCMVX	FIUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.51	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.59	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.54	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.45	+0.23

Drawdowns

MCMVX vs. FIUSX - Drawdown Comparison

The maximum MCMVX drawdown since its inception was -36.75%, smaller than the maximum FIUSX drawdown of -56.30%. Use the drawdown chart below to compare losses from any high point for MCMVX and FIUSX.

Drawdown Indicators

	MCMVX	FIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-36.75%	-56.30%	+19.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-6.75%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-21.06%	-21.69%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-21.06%	-21.69%	+0.63%
Max Drawdown (10Y) Largest decline over 10 years	-36.75%	-46.38%	+9.63%
Current Drawdown Current decline from peak	-0.38%	0.00%	-0.38%
Average Drawdown Average peak-to-trough decline	-4.08%	-9.45%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.80%	+0.53%

Volatility

MCMVX vs. FIUSX - Volatility Comparison

Monongahela All Cap Value Fund (MCMVX) has a higher volatility of 4.46% compared to Delaware Opportunity Fund (FIUSX) at 4.21%. This indicates that MCMVX's price experiences larger fluctuations and is considered to be riskier than FIUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCMVX	FIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	4.21%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	10.46%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	13.81%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	18.17%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	20.57%	-2.52%

MCMVX vs. FIUSX - Expense Ratio Comparison

MCMVX has a 0.85% expense ratio, which is lower than FIUSX's 1.15% expense ratio.

Dividends

MCMVX vs. FIUSX - Dividend Comparison

MCMVX's dividend yield for the trailing twelve months is around 5.67%, less than FIUSX's 9.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIUSX Delaware Opportunity Fund	9.70%	11.53%	12.68%	2.85%	8.96%	5.62%	1.60%	40.65%	12.11%	6.00%	4.23%	1.14%
MCMVX Monongahela All Cap Value Fund	5.67%	6.51%	5.41%	3.23%	4.79%	7.61%	1.25%	3.09%	6.87%	10.44%	2.13%	1.75%

Frequently Asked Questions

Can I hold both MCMVX and FIUSX in my portfolio?

MCMVX and FIUSX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCMVX or FIUSX?

MCMVX has higher volatility (4.46%) compared to FIUSX (4.21%). In terms of maximum drawdown, MCMVX dropped -36.75% vs FIUSX's -56.30%.

Which has better risk-adjusted returns?

FIUSX currently has the higher Sharpe Ratio (2.51 vs 1.91), 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.