SPGM vs. WASCX

Last updated Jun 24, 2026

SPGM (SPDR Portfolio MSCI Global Stock Market ETF) and WASCX (Delaware Ivy Asset Strategy Fund) are both funds - SPGM is a Global Equities fund tracking the MSCI ACWI IMI Index, while WASCX is a Global Allocation fund managed by Ivy Funds. Over the past 10 years, SPGM returned 13.23%/yr vs 8.63%/yr for WASCX. A 0.78 correlation means they provide meaningful diversification when combined. SPGM charges 0.09%/yr vs 2.18%/yr for WASCX.

Performance

SPGM vs. WASCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Delaware Ivy Asset Strategy Fund (WASCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPGM achieves a 10.79% return, which is significantly higher than WASCX's 5.36% return. Over the past 10 years, SPGM has outperformed WASCX with an annualized return of 13.23%, while WASCX has yielded a comparatively lower 8.63% annualized return.

SPGM

• 1D: -1.85%
• 1M: -0.09%
• YTD: 10.79%
• 6M: 9.88%
• 1Y: 28.37%
• 3Y*: 20.39%
• 5Y*: 11.06%
• 10Y*: 13.23%

WASCX

• 1D: -1.41%
• 1M: -0.00%
• YTD: 5.36%
• 6M: 4.73%
• 1Y: 14.13%
• 3Y*: 14.57%
• 5Y*: 7.22%
• 10Y*: 8.63%

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

SPGM vs. WASCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPGM SPDR Portfolio MSCI Global Stock Market ETF	10.79%	23.62%	16.75%	21.34%	-17.53%	21.13%	15.28%	26.58%	-10.12%	23.26%
WASCX Delaware Ivy Asset Strategy Fund	5.36%	16.07%	13.12%	14.62%	-14.57%	12.88%	12.53%	20.90%	-5.98%	17.53%

Correlation

The correlation between SPGM and WASCX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 5, 2012	0.78

The correlation between SPGM and WASCX shifts across timeframes, from 0.78 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SPGM vs. WASCX — Risk / Return Rank

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

SPGM

SPGM Risk / Return Rank: 66
SPGM Sharpe Ratio Rank: 67
SPGM Sortino Ratio Rank: 64
SPGM Omega Ratio Rank: 66
SPGM Calmar Ratio Rank: 63
SPGM Martin Ratio Rank: 73

WASCX

WASCX Risk / Return Rank: 27
WASCX Sharpe Ratio Rank: 25
WASCX Sortino Ratio Rank: 25
WASCX Omega Ratio Rank: 28
WASCX Calmar Ratio Rank: 23
WASCX Martin Ratio Rank: 34

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.

SPGM vs. WASCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Delaware Ivy Asset Strategy Fund (WASCX). 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.

	SPGM	WASCX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.33	+0.75
Sortino ratio: Return per unit of downside risk	2.82	1.92	+0.90
Omega ratio: Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	3.00	1.64	+1.36
Martin ratio: Return relative to average drawdown	13.18	7.11	+6.07

SPGM vs. WASCX - Sharpe Ratio Comparison

The current SPGM Sharpe Ratio is 2.08, which is higher than the WASCX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of SPGM and WASCX, 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

SPGM vs. WASCX - Drawdown Comparison

The maximum SPGM drawdown since its inception was -33.97%, smaller than the maximum WASCX drawdown of -36.09%. Use the drawdown chart below to compare losses from any high point for SPGM and WASCX.

Drawdown Indicators

	SPGM	WASCX	Difference
Max Drawdown Largest peak-to-trough decline	-33.97%	-36.09%	+2.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-9.02%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-16.90%	-11.21%	-5.69%
Max Drawdown (5Y) Largest decline over 5 years	-25.93%	-28.99%	+3.06%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	-29.42%	-4.55%
Current Drawdown Current decline from peak	-2.70%	-1.41%	-1.29%
Average Drawdown Average peak-to-trough decline	-4.79%	-7.46%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.07%	+0.09%

Volatility

SPGM vs. WASCX - Volatility Comparison

SPDR Portfolio MSCI Global Stock Market ETF (SPGM) has a higher volatility of 5.64% compared to Delaware Ivy Asset Strategy Fund (WASCX) at 4.63%. This indicates that SPGM's price experiences larger fluctuations and is considered to be riskier than WASCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPGM	WASCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	4.63%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	9.94%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.74%	11.13%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	17.78%	-1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	15.66%	+1.84%

SPGM vs. WASCX - Expense Ratio Comparison

SPGM has a 0.09% expense ratio, which is lower than WASCX's 2.18% expense ratio.

Dividends

SPGM vs. WASCX - Dividend Comparison

SPGM's dividend yield for the trailing twelve months is around 1.83%, less than WASCX's 9.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPGM SPDR Portfolio MSCI Global Stock Market ETF	1.83%	1.89%	1.98%	2.09%	2.37%	1.94%	1.45%	2.46%	1.89%	2.29%	1.87%	3.70%
WASCX Delaware Ivy Asset Strategy Fund	9.82%	10.75%	8.30%	2.28%	18.75%	11.68%	2.22%	5.49%	20.62%	2.37%	0.00%	6.52%

Frequently Asked Questions

Can I hold both SPGM and WASCX in my portfolio?

With a correlation of 0.94, SPGM and WASCX 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, SPGM or WASCX?

SPGM has higher volatility (5.64%) compared to WASCX (4.63%). In terms of maximum drawdown, SPGM dropped -33.97% vs WASCX's -36.09%.

Which has better risk-adjusted returns?

SPGM currently has the higher Sharpe Ratio (2.08 vs 1.33), 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.