WARAX vs. WASCX

Last updated Jun 23, 2026

WARAX (Allspring Absolute Return Fund) and WASCX (Delaware Ivy Asset Strategy Fund) are both Global Allocation funds. Over the past 10 years, WARAX returned 5.57%/yr vs 8.63%/yr for WASCX. A 0.70 correlation means they provide meaningful diversification when combined. WARAX charges 0.70%/yr vs 2.18%/yr for WASCX.

Performance

WARAX vs. WASCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Absolute Return Fund (WARAX) 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, WARAX achieves a 14.88% return, which is significantly higher than WASCX's 6.86% return. Over the past 10 years, WARAX has underperformed WASCX with an annualized return of 5.57%, while WASCX has yielded a comparatively higher 8.63% annualized return.

WARAX

• 1D: 0.08%
• 1M: -2.39%
• YTD: 14.88%
• 6M: 15.29%
• 1Y: 25.36%
• 3Y*: 12.22%
• 5Y*: 6.94%
• 10Y*: 5.57%

WASCX

• 1D: 1.14%
• 1M: 1.43%
• YTD: 6.86%
• 6M: 6.70%
• 1Y: 16.28%
• 3Y*: 14.59%
• 5Y*: 7.70%
• 10Y*: 8.63%

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

WARAX vs. WASCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WARAX Allspring Absolute Return Fund	14.88%	8.07%	5.93%	12.53%	-2.75%	2.25%	-3.25%	11.65%	-5.78%	12.11%
WASCX Delaware Ivy Asset Strategy Fund	6.86%	16.07%	13.12%	14.62%	-14.57%	12.88%	12.53%	20.90%	-5.98%	17.53%

Correlation

The correlation between WARAX and WASCX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012	0.70

Over the past year, the correlation between WARAX and WASCX has dropped to 0.45 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

Return for Risk

WARAX vs. WASCX — Risk / Return Rank

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

WARAX

WARAX Risk / Return Rank: 91
WARAX Sharpe Ratio Rank: 92
WARAX Sortino Ratio Rank: 86
WARAX Omega Ratio Rank: 86
WARAX Calmar Ratio Rank: 97
WARAX Martin Ratio Rank: 95

WASCX

WASCX Risk / Return Rank: 32
WASCX Sharpe Ratio Rank: 30
WASCX Sortino Ratio Rank: 30
WASCX Omega Ratio Rank: 34
WASCX Calmar Ratio Rank: 27
WASCX Martin Ratio Rank: 39

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.

WARAX vs. WASCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Absolute Return Fund (WARAX) 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.

	WARAX	WASCX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	1.48	+1.37
Sortino ratio: Return per unit of downside risk	3.82	2.14	+1.69
Omega ratio: Gain probability vs. loss probability	1.54	1.29	+0.25
Calmar ratio: Return relative to maximum drawdown	6.62	1.81	+4.82
Martin ratio: Return relative to average drawdown	20.03	7.86	+12.17

WARAX vs. WASCX - Sharpe Ratio Comparison

The current WARAX Sharpe Ratio is 2.85, which is higher than the WASCX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of WARAX 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

WARAX vs. WASCX - Drawdown Comparison

The maximum WARAX drawdown since its inception was -23.16%, smaller than the maximum WASCX drawdown of -36.09%. Use the drawdown chart below to compare losses from any high point for WARAX and WASCX.

Drawdown Indicators

	WARAX	WASCX	Difference
Max Drawdown Largest peak-to-trough decline	-23.16%	-36.09%	+12.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.81%	-9.02%	+5.21%
Max Drawdown (3Y) Largest decline over 3 years	-5.67%	-11.21%	+5.54%
Max Drawdown (5Y) Largest decline over 5 years	-13.05%	-28.99%	+15.94%
Max Drawdown (10Y) Largest decline over 10 years	-23.16%	-29.42%	+6.26%
Current Drawdown Current decline from peak	-3.58%	0.00%	-3.58%
Average Drawdown Average peak-to-trough decline	-3.83%	-7.46%	+3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	2.07%	-0.81%

Volatility

WARAX vs. WASCX - Volatility Comparison

The current volatility for Allspring Absolute Return Fund (WARAX) is 3.25%, while Delaware Ivy Asset Strategy Fund (WASCX) has a volatility of 4.54%. This indicates that WARAX experiences smaller price fluctuations and is considered to be less risky than WASCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WARAX	WASCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	4.54%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	9.83%	-2.45%
Volatility (1Y) Calculated over the trailing 1-year period	8.85%	11.02%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.75%	17.76%	-10.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.97%	15.65%	-7.68%

WARAX vs. WASCX - Expense Ratio Comparison

WARAX has a 0.70% expense ratio, which is lower than WASCX's 2.18% expense ratio.

Dividends

WARAX vs. WASCX - Dividend Comparison

WARAX's dividend yield for the trailing twelve months is around 1.74%, less than WASCX's 9.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WARAX Allspring Absolute Return Fund	1.74%	2.00%	10.90%	2.80%	2.34%	3.23%	3.34%	3.38%	2.66%	1.77%	0.76%	1.35%
WASCX Delaware Ivy Asset Strategy Fund	9.68%	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 WARAX and WASCX in my portfolio?

WARAX and WASCX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WARAX or WASCX?

WASCX has higher volatility (4.54%) compared to WARAX (3.25%). In terms of maximum drawdown, WARAX dropped -23.16% vs WASCX's -36.09%.

Which has better risk-adjusted returns?

WARAX currently has the higher Sharpe Ratio (2.85 vs 1.48), 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.