WMGAX vs. CXHYX
WMGAX (Delaware Ivy Mid Cap Growth Fund) and CXHYX (Delaware National High-Yield Municipal Bond Fund) are both mutual funds - WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds, while CXHYX is a High Yield Muni fund managed by Delaware Funds. Over the past 10 years, WMGAX returned 10.91%/yr vs 3.09%/yr for CXHYX. Their -0.06 correlation means they have often moved in opposite directions in the past. WMGAX charges 1.12%/yr vs 0.85%/yr for CXHYX.
Performance
WMGAX vs. CXHYX - Performance Comparison
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Returns By Period
In the year-to-date period, WMGAX achieves a 0.57% return, which is significantly lower than CXHYX's 0.74% return. Over the past 10 years, WMGAX has outperformed CXHYX with an annualized return of 10.91%, while CXHYX has yielded a comparatively lower 3.09% annualized return.
WMGAX
- 1D
- 0.83%
- 1M
- -3.28%
- 6M
- -2.05%
- YTD
- 0.57%
- 1Y
- -2.92%
- 3Y*
- 3.72%
- 5Y*
- -1.28%
- 10Y*
- 10.91%
- ALL TIME*
- 8.17%
CXHYX
- 1D
- -0.21%
- 1M
- -2.46%
- 6M
- -0.10%
- YTD
- 0.74%
- 1Y
- 5.39%
- 3Y*
- 4.15%
- 5Y*
- 0.12%
- 10Y*
- 3.09%
- ALL TIME*
- 4.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
WMGAX vs. CXHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WMGAX Delaware Ivy Mid Cap Growth Fund | 0.57% | 0.83% | 10.02% | 19.97% | -30.68% | 16.22% | 48.56% | 38.01% | -0.20% | 26.95% |
CXHYX Delaware National High-Yield Municipal Bond Fund | 0.74% | 1.71% | 5.76% | 8.26% | -14.85% | 7.86% | 6.49% | 11.52% | 1.58% | 10.15% |
Correlation
The correlation between WMGAX and CXHYX is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | -0.06 |
The correlation between WMGAX and CXHYX shifts across timeframes, from -0.06 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WMGAX vs. CXHYX — Risk / Return Rank
WMGAX
CXHYX
WMGAX vs. CXHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Growth Fund (WMGAX) 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.
| WMGAX | CXHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.32 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 1.90 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.62 | 6.72 | -7.33 |
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Drawdowns
WMGAX vs. CXHYX - Drawdown Comparison
The maximum WMGAX drawdown since its inception was -53.74%, which is greater than CXHYX's maximum drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for WMGAX and CXHYX.
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Drawdown Indicators
| WMGAX | CXHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.74% | -21.82% | -31.92% |
Max Drawdown (1Y)Largest decline over 1 year | -16.16% | -3.16% | -13.00% |
Max Drawdown (3Y)Largest decline over 3 years | -26.59% | -8.33% | -18.26% |
Max Drawdown (5Y)Largest decline over 5 years | -42.95% | -20.11% | -22.84% |
Max Drawdown (10Y)Largest decline over 10 years | -42.95% | -20.11% | -22.84% |
Current DrawdownCurrent decline from peak | -16.62% | -2.56% | -14.06% |
Average DrawdownAverage peak-to-trough decline | -13.63% | -2.57% | -11.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.23% | 0.89% | +5.34% |
Volatility
WMGAX vs. CXHYX - Volatility Comparison
Delaware Ivy Mid Cap Growth Fund (WMGAX) has a higher volatility of 3.23% compared to Delaware National High-Yield Municipal Bond Fund (CXHYX) at 1.14%. This indicates that WMGAX'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
| WMGAX | CXHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 1.14% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 3.03% | +10.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.88% | 3.98% | +13.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.13% | 6.10% | +19.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.14% | 5.81% | +17.33% |
WMGAX vs. CXHYX - Expense Ratio Comparison
WMGAX has a 1.12% expense ratio, which is higher than CXHYX's 0.85% expense ratio.
Dividends
WMGAX vs. CXHYX - Dividend Comparison
WMGAX's dividend yield for the trailing twelve months is around 11.03%, more than CXHYX's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXHYX Delaware National High-Yield Municipal Bond Fund | 4.70% | 6.41% | 5.43% | 3.99% | 4.94% | 3.61% | 4.42% | 5.27% | 4.92% | 4.98% | 3.87% | 3.77% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 11.03% | 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
WMGAX and CXHYX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WMGAX has higher volatility (3.23%) compared to CXHYX (1.14%). In terms of maximum drawdown, WMGAX dropped -53.74% vs CXHYX's -21.82%.
CXHYX currently has the higher Sharpe Ratio (1.53 vs -0.22), 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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