SCHM vs. WMGAX

Last updated Jun 26, 2026

SCHM (Schwab US Mid-Cap ETF) and WMGAX (Delaware Ivy Mid Cap Growth Fund) are both funds - SCHM is a Mid Cap Blend Equities fund tracking the Dow Jones US Total Stock Market Mid-Cap, while WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, SCHM returned 12.31%/yr vs 11.73%/yr for WMGAX. Their correlation of 0.90 suggests significant overlap in exposure. SCHM charges 0.04%/yr vs 1.12%/yr for WMGAX.

Performance

SCHM vs. WMGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US Mid-Cap ETF (SCHM) and Delaware Ivy Mid Cap Growth Fund (WMGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCHM achieves a 22.04% return, which is significantly higher than WMGAX's 2.50% return. Both investments have delivered pretty close results over the past 10 years, with SCHM having a 12.31% annualized return and WMGAX not far behind at 11.73%.

SCHM

• 1D: 1.96%
• 1M: 4.00%
• YTD: 22.04%
• 6M: 19.62%
• 1Y: 34.41%
• 3Y*: 18.54%
• 5Y*: 8.42%
• 10Y*: 12.31%

WMGAX

• 1D: 0.77%
• 1M: 0.82%
• YTD: 2.50%
• 6M: 0.13%
• 1Y: 3.76%
• 3Y*: 6.39%
• 5Y*: -0.18%
• 10Y*: 11.73%

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

SCHM vs. WMGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHM Schwab US Mid-Cap ETF	22.04%	10.17%	11.98%	16.69%	-17.07%	19.36%	15.26%	27.48%	-8.77%	19.60%
WMGAX Delaware Ivy Mid Cap Growth Fund	2.50%	0.83%	10.02%	19.97%	-30.68%	16.22%	48.56%	38.01%	-0.20%	26.95%

Correlation

The correlation between SCHM and WMGAX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011	0.90

The correlation between SCHM and WMGAX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

SCHM vs. WMGAX — Risk / Return Rank

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

SCHM

SCHM Risk / Return Rank: 78
SCHM Sharpe Ratio Rank: 77
SCHM Sortino Ratio Rank: 77
SCHM Omega Ratio Rank: 72
SCHM Calmar Ratio Rank: 81
SCHM Martin Ratio Rank: 84

WMGAX

WMGAX Risk / Return Rank: 5
WMGAX Sharpe Ratio Rank: 5
WMGAX Sortino Ratio Rank: 5
WMGAX Omega Ratio Rank: 5
WMGAX Calmar Ratio Rank: 5
WMGAX Martin Ratio Rank: 5

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.

SCHM vs. WMGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US Mid-Cap ETF (SCHM) 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.

	SCHM	WMGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.17	+1.94
Sortino ratio: Return per unit of downside risk	2.95	0.38	+2.57
Omega ratio: Gain probability vs. loss probability	1.37	1.04	+0.32
Calmar ratio: Return relative to maximum drawdown	3.71	0.19	+3.52
Martin ratio: Return relative to average drawdown	14.81	0.52	+14.29

SCHM vs. WMGAX - Sharpe Ratio Comparison

The current SCHM Sharpe Ratio is 2.12, which is higher than the WMGAX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of SCHM and WMGAX, 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

SCHM vs. WMGAX - Drawdown Comparison

The maximum SCHM drawdown since its inception was -42.43%, smaller than the maximum WMGAX drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for SCHM and WMGAX.

Drawdown Indicators

	SCHM	WMGAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.43%	-53.74%	+11.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-16.16%	+6.84%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-26.59%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	-26.46%	-42.95%	+16.49%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-42.95%	+0.52%
Current Drawdown Current decline from peak	0.00%	-15.03%	+15.03%
Average Drawdown Average peak-to-trough decline	-5.64%	-13.62%	+7.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	5.95%	-3.62%

Volatility

SCHM vs. WMGAX - Volatility Comparison

The current volatility for Schwab US Mid-Cap ETF (SCHM) is 5.91%, while Delaware Ivy Mid Cap Growth Fund (WMGAX) has a volatility of 6.39%. This indicates that SCHM experiences smaller price fluctuations and is considered to be less risky than WMGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHM	WMGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	6.39%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	13.99%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	17.96%	-1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	25.16%	-5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.49%	23.19%	-2.70%

SCHM vs. WMGAX - Expense Ratio Comparison

SCHM has a 0.04% expense ratio, which is lower than WMGAX's 1.12% expense ratio.

Dividends

SCHM vs. WMGAX - Dividend Comparison

SCHM's dividend yield for the trailing twelve months is around 1.21%, less than WMGAX's 10.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHM Schwab US Mid-Cap ETF	1.21%	1.46%	1.43%	1.50%	1.67%	1.13%	1.31%	1.48%	1.56%	1.27%	1.51%	1.54%
WMGAX Delaware Ivy Mid Cap Growth Fund	10.83%	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

Can I hold both SCHM and WMGAX in my portfolio?

SCHM and WMGAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHM or WMGAX?

WMGAX has higher volatility (6.39%) compared to SCHM (5.91%). In terms of maximum drawdown, SCHM dropped -42.43% vs WMGAX's -53.74%.

Which has better risk-adjusted returns?

SCHM currently has the higher Sharpe Ratio (2.12 vs 0.17), 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.