WLGAX vs. NLCAX

Last updated Jun 5, 2026

WLGAX (Delaware Ivy Large Cap Growth Fund) and NLCAX (Voya Large-Cap Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, WLGAX returned 15.96%/yr vs 15.70%/yr for NLCAX. Their correlation of 0.93 suggests significant overlap in exposure. WLGAX charges 0.89%/yr vs 0.97%/yr for NLCAX.

Performance

WLGAX vs. NLCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Large Cap Growth Fund (WLGAX) and Voya Large-Cap Growth Fund (NLCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WLGAX achieves a 0.82% return, which is significantly lower than NLCAX's 9.69% return. Both investments have delivered pretty close results over the past 10 years, with WLGAX having a 15.96% annualized return and NLCAX not far behind at 15.70%.

WLGAX

• 1D: -1.31%
• 1M: 3.46%
• YTD: 0.82%
• 6M: 1.18%
• 1Y: 9.54%
• 3Y*: 15.71%
• 5Y*: 10.49%
• 10Y*: 15.96%

NLCAX

• 1D: -1.08%
• 1M: 6.45%
• YTD: 9.69%
• 6M: 8.41%
• 1Y: 25.30%
• 3Y*: 24.43%
• 5Y*: 12.81%
• 10Y*: 15.70%

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

WLGAX vs. NLCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WLGAX Delaware Ivy Large Cap Growth Fund	0.82%	8.89%	25.97%	37.78%	-27.04%	29.95%	30.75%	36.52%	2.37%	29.02%
NLCAX Voya Large-Cap Growth Fund	9.69%	14.63%	34.62%	37.74%	-31.26%	18.63%	30.75%	32.35%	-1.91%	29.29%

Correlation

The correlation between WLGAX and NLCAX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 3, 2000	0.93

The correlation between WLGAX and NLCAX shifts across timeframes, from 0.81 (1 year) to 0.93 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

WLGAX vs. NLCAX — Risk / Return Rank

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

WLGAX

WLGAX Risk / Return Rank: 8
WLGAX Sharpe Ratio Rank: 9
WLGAX Sortino Ratio Rank: 8
WLGAX Omega Ratio Rank: 9
WLGAX Calmar Ratio Rank: 6
WLGAX Martin Ratio Rank: 7

NLCAX

NLCAX Risk / Return Rank: 30
NLCAX Sharpe Ratio Rank: 38
NLCAX Sortino Ratio Rank: 36
NLCAX Omega Ratio Rank: 34
NLCAX Calmar Ratio Rank: 21
NLCAX Martin Ratio Rank: 22

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.

WLGAX vs. NLCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Large Cap Growth Fund (WLGAX) and Voya Large-Cap Growth Fund (NLCAX). 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.

	WLGAX	NLCAX	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.74	-1.03
Sortino ratio: Return per unit of downside risk	1.03	2.43	-1.40
Omega ratio: Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio: Return relative to maximum drawdown	0.55	1.62	-1.07
Martin ratio: Return relative to average drawdown	1.67	5.38	-3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WLGAX vs. NLCAX - Sharpe Ratio Comparison

The current WLGAX Sharpe Ratio is 0.71, which is lower than the NLCAX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of WLGAX and NLCAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WLGAX	NLCAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	1.74	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.59	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.75	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.44	+0.03

Drawdowns

WLGAX vs. NLCAX - Drawdown Comparison

The maximum WLGAX drawdown since its inception was -49.78%, smaller than the maximum NLCAX drawdown of -76.45%. Use the drawdown chart below to compare losses from any high point for WLGAX and NLCAX.

Drawdown Indicators

	WLGAX	NLCAX	Difference
Max Drawdown Largest peak-to-trough decline	-49.78%	-76.45%	+26.67%
Max Drawdown (1Y) Largest decline over 1 year	-18.12%	-17.52%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-24.76%	+5.45%
Max Drawdown (5Y) Largest decline over 5 years	-37.00%	-35.36%	-1.64%
Max Drawdown (10Y) Largest decline over 10 years	-37.00%	-35.36%	-1.64%
Current Drawdown Current decline from peak	-2.36%	-1.15%	-1.21%
Average Drawdown Average peak-to-trough decline	-13.13%	-31.27%	+18.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.99%	5.08%	+0.91%

Volatility

WLGAX vs. NLCAX - Volatility Comparison

Delaware Ivy Large Cap Growth Fund (WLGAX) and Voya Large-Cap Growth Fund (NLCAX) have volatilities of 3.89% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLGAX	NLCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.98%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	11.38%	12.53%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	16.36%	-2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	22.15%	-1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	21.28%	-0.59%

WLGAX vs. NLCAX - Expense Ratio Comparison

WLGAX has a 0.89% expense ratio, which is lower than NLCAX's 0.97% expense ratio.

Dividends

WLGAX vs. NLCAX - Dividend Comparison

WLGAX's dividend yield for the trailing twelve months is around 8.34%, less than NLCAX's 14.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLCAX Voya Large-Cap Growth Fund	14.73%	16.16%	4.69%	0.00%	24.97%	18.15%	13.40%	4.61%	7.42%	5.86%	5.52%	7.37%
WLGAX Delaware Ivy Large Cap Growth Fund	8.34%	8.41%	3.31%	3.07%	12.91%	9.68%	6.56%	12.84%	14.16%	4.45%	5.19%	6.43%

Frequently Asked Questions

Can I hold both WLGAX and NLCAX in my portfolio?

WLGAX and NLCAX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WLGAX or NLCAX?

NLCAX has higher volatility (3.98%) compared to WLGAX (3.89%). In terms of maximum drawdown, WLGAX dropped -49.78% vs NLCAX's -76.45%.

Which has better risk-adjusted returns?

NLCAX currently has the higher Sharpe Ratio (1.74 vs 0.71), 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.