OILVX vs. CXHYX
OILVX (Optimum Large Cap Value Fund) and CXHYX (Delaware National High-Yield Municipal Bond Fund) are both mutual funds - OILVX is a Large Cap Value Equities fund managed by Delaware Funds, while CXHYX is a High Yield Muni fund managed by Delaware Funds. Over the past 10 years, OILVX returned 11.23%/yr vs 3.26%/yr for CXHYX. At a correlation of -0.08, they often move in opposite directions. OILVX charges 0.92%/yr vs 0.85%/yr for CXHYX.
Performance
OILVX vs. CXHYX - Performance Comparison
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Returns By Period
In the year-to-date period, OILVX achieves a 8.77% return, which is significantly higher than CXHYX's 2.29% return. Over the past 10 years, OILVX has outperformed CXHYX with an annualized return of 11.23%, while CXHYX has yielded a comparatively lower 3.26% annualized return.
OILVX
- 1D
- 0.33%
- 1M
- 1.61%
- YTD
- 8.77%
- 6M
- 8.00%
- 1Y
- 19.95%
- 3Y*
- 15.47%
- 5Y*
- 10.10%
- 10Y*
- 11.23%
CXHYX
- 1D
- 0.00%
- 1M
- 1.51%
- YTD
- 2.29%
- 6M
- 2.85%
- 1Y
- 5.56%
- 3Y*
- 4.41%
- 5Y*
- 0.78%
- 10Y*
- 3.26%
OILVX vs. CXHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILVX Optimum Large Cap Value Fund | 8.77% | 14.79% | 13.63% | 9.90% | -6.05% | 27.17% | 3.39% | 27.97% | -9.38% | 16.40% |
CXHYX Delaware National High-Yield Municipal Bond Fund | 2.29% | 1.71% | 5.76% | 8.26% | -14.85% | 7.86% | 6.49% | 11.52% | 1.58% | 10.15% |
Correlation
The correlation between OILVX and CXHYX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2003 | -0.08 |
The correlation between OILVX and CXHYX shifts across timeframes, from -0.08 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OILVX vs. CXHYX — Risk / Return Rank
OILVX
CXHYX
OILVX vs. CXHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Optimum Large Cap Value Fund (OILVX) and Delaware National High-Yield Municipal Bond Fund (CXHYX). 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.
| OILVX | CXHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 1.73 | +1.20 |
| Martin ratioReturn relative to average drawdown | 11.67 | 4.96 | +6.72 |
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Drawdowns
OILVX vs. CXHYX - Drawdown Comparison
The maximum OILVX drawdown since its inception was -56.56%, which is greater than CXHYX's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for OILVX and CXHYX.
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Drawdown Indicators
| OILVX | CXHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.56% | -21.82% | -34.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -3.31% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -9.55% | -5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.17% | -20.11% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -36.99% | -20.11% | -16.88% |
Current DrawdownCurrent decline from peak | -0.65% | -0.41% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -2.58% | -4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.15% | +0.63% |
Volatility
OILVX vs. CXHYX - Volatility Comparison
Optimum Large Cap Value Fund (OILVX) has a higher volatility of 3.21% compared to Delaware National High-Yield Municipal Bond Fund (CXHYX) at 1.09%. This indicates that OILVX's price experiences larger fluctuations and is considered to be riskier than CXHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILVX | CXHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 1.09% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 7.94% | 2.83% | +5.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.60% | 4.04% | +6.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 6.08% | +11.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 5.81% | +12.38% |
OILVX vs. CXHYX - Expense Ratio Comparison
OILVX has a 0.92% expense ratio, which is higher than CXHYX's 0.85% expense ratio.
Dividends
OILVX vs. CXHYX - Dividend Comparison
OILVX's dividend yield for the trailing twelve months is around 7.14%, more than CXHYX's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 4.97% | 6.41% | 5.43% | 3.99% | 4.94% | 3.61% | 4.42% | 5.27% | 4.92% | 4.98% | 3.87% | 3.77% |
OILVX Optimum Large Cap Value Fund | 7.14% | 7.76% | 7.30% | 16.51% | 6.33% | 7.55% | 2.02% | 2.74% | 4.72% | 5.68% | 13.20% | 1.28% |
Frequently Asked Questions
OILVX and CXHYX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILVX has higher volatility (3.21%) compared to CXHYX (1.09%). In terms of maximum drawdown, OILVX dropped -56.56% vs CXHYX's -21.82%.
OILVX currently has the higher Sharpe Ratio (1.97 vs 1.42), 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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