OIIEX vs. WMGAX
OIIEX (Optimum International Fund) and WMGAX (Delaware Ivy Mid Cap Growth Fund) are both mutual funds - OIIEX is a Foreign Large Cap Equities fund managed by Delaware Funds, while WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, OIIEX returned 8.68%/yr vs 10.91%/yr for WMGAX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. OIIEX charges 1.04%/yr vs 1.12%/yr for WMGAX.
Performance
OIIEX vs. WMGAX - Performance Comparison
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Returns By Period
In the year-to-date period, OIIEX achieves a 14.03% return, which is significantly higher than WMGAX's 0.57% return. Over the past 10 years, OIIEX has underperformed WMGAX with an annualized return of 8.68%, while WMGAX has yielded a comparatively higher 10.91% annualized return.
OIIEX
- 1D
- 0.28%
- 1M
- -0.39%
- 6M
- 7.87%
- YTD
- 14.03%
- 1Y
- 24.61%
- 3Y*
- 17.24%
- 5Y*
- 6.61%
- 10Y*
- 8.68%
- ALL TIME*
- 7.14%
WMGAX
- 1D
- 0.83%
- 1M
- -3.28%
- 6M
- -2.05%
- YTD
- 0.57%
- 1Y
- -2.92%
- 3Y*
- 3.72%
- 5Y*
- -1.28%
- 10Y*
- 10.91%
- ALL TIME*
- 8.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
OIIEX vs. WMGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OIIEX Optimum International Fund | 14.03% | 25.99% | 8.41% | 17.37% | -23.04% | 8.52% | 12.57% | 19.60% | -13.98% | 30.46% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 0.57% | 0.83% | 10.02% | 19.97% | -30.68% | 16.22% | 48.56% | 38.01% | -0.20% | 26.95% |
Correlation
The correlation between OIIEX and WMGAX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2003 | 0.70 |
The correlation between OIIEX and WMGAX has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
OIIEX vs. WMGAX — Risk / Return Rank
OIIEX
WMGAX
OIIEX vs. WMGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Optimum International Fund (OIIEX) and Delaware Ivy Mid Cap Growth Fund (WMGAX). 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.
| OIIEX | WMGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.98 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | -0.24 | +2.20 |
| Martin ratioReturn relative to average drawdown | 7.08 | -0.62 | +7.69 |
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Drawdowns
OIIEX vs. WMGAX - Drawdown Comparison
The maximum OIIEX drawdown since its inception was -58.10%, which is greater than WMGAX's maximum drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for OIIEX and WMGAX.
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Drawdown Indicators
| OIIEX | WMGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.10% | -53.74% | -4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -11.93% | -16.16% | +4.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.64% | -26.59% | +11.95% |
Max Drawdown (5Y)Largest decline over 5 years | -37.09% | -42.95% | +5.86% |
Max Drawdown (10Y)Largest decline over 10 years | -37.43% | -42.95% | +5.52% |
Current DrawdownCurrent decline from peak | -2.97% | -16.62% | +13.65% |
Average DrawdownAverage peak-to-trough decline | -12.37% | -13.63% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 6.23% | -2.93% |
Volatility
OIIEX vs. WMGAX - Volatility Comparison
Optimum International Fund (OIIEX) has a higher volatility of 5.55% compared to Delaware Ivy Mid Cap Growth Fund (WMGAX) at 3.23%. This indicates that OIIEX's price experiences larger fluctuations and is considered to be riskier than WMGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OIIEX | WMGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 3.23% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 13.76% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.09% | 17.88% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 25.13% | -7.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.14% | 23.14% | -6.00% |
OIIEX vs. WMGAX - Expense Ratio Comparison
OIIEX has a 1.04% expense ratio, which is lower than WMGAX's 1.12% expense ratio.
Dividends
OIIEX vs. WMGAX - Dividend Comparison
OIIEX's dividend yield for the trailing twelve months is around 1.23%, less than WMGAX's 11.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OIIEX Optimum International Fund | 1.23% | 1.40% | 1.62% | 1.37% | 3.08% | 15.53% | 3.16% | 2.10% | 8.98% | 2.06% | 1.16% | 0.80% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 11.03% | 11.10% | 15.30% | 6.66% | 11.94% | 13.08% | 9.97% | 5.23% | 10.28% | 7.92% | 3.98% | 10.88% |
Frequently Asked Questions
OIIEX and WMGAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OIIEX has higher volatility (5.55%) compared to WMGAX (3.23%). In terms of maximum drawdown, OIIEX dropped -58.10% vs WMGAX's -53.74%.
OIIEX currently has the higher Sharpe Ratio (1.37 vs -0.22), 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.
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