WMGAX vs. DDIIX

Last updated Aug 4, 2026

WMGAX (Delaware Ivy Mid Cap Growth Fund) and DDIIX (Delaware Wealth Builder Fund) are both mutual funds - WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds, while DDIIX is a Diversified Portfolio fund managed by Delaware Funds. Over the past 10 years, WMGAX returned 10.91%/yr vs 7.79%/yr for DDIIX. Their correlation of 0.82 means they have usually moved in the same direction. WMGAX charges 1.12%/yr vs 0.84%/yr for DDIIX.

Performance

WMGAX vs. DDIIX - Performance Comparison

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

Returns By Period

In the year-to-date period, WMGAX achieves a 0.57% return, which is significantly lower than DDIIX's 10.36% return. Over the past 10 years, WMGAX has outperformed DDIIX with an annualized return of 10.91%, while DDIIX has yielded a comparatively lower 7.79% 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%

DDIIX

• 1D: 0.06%
• 1M: 1.21%
• 6M: 6.65%
• YTD: 10.36%
• 1Y: 19.20%
• 3Y*: 12.99%
• 5Y*: 8.60%
• 10Y*: 7.79%
• ALL TIME*: 7.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDIIX Delaware Wealth Builder Fund	$0.00	$0.00	$0.00
WMGAX Delaware Ivy Mid Cap Growth Fund	$0.00	$0.00	$0.00

WMGAX vs. DDIIX - 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%
DDIIX Delaware Wealth Builder Fund	10.36%	13.58%	10.69%	12.44%	-8.50%	18.09%	3.11%	18.09%	-7.03%	9.40%

Correlation

The correlation between WMGAX and DDIIX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000	0.82

The correlation between WMGAX and DDIIX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

WMGAX vs. DDIIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WMGAX

WMGAX Risk / Return Rank: 2
WMGAX Sharpe Ratio Rank: 2
WMGAX Sortino Ratio Rank: 2
WMGAX Omega Ratio Rank: 2
WMGAX Calmar Ratio Rank: 2
WMGAX Martin Ratio Rank: 2

DDIIX

DDIIX Risk / Return Rank: 86
DDIIX Sharpe Ratio Rank: 88
DDIIX Sortino Ratio Rank: 86
DDIIX Omega Ratio Rank: 83
DDIIX Calmar Ratio Rank: 83
DDIIX Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WMGAX vs. DDIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Growth Fund (WMGAX) and Delaware Wealth Builder Fund (DDIIX). 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	DDIIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	2.20	-2.42
Sortino ratio: Return per unit of downside risk	-0.19	3.13	-3.33
Omega ratio: Gain probability vs. loss probability	0.98	1.40	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.24	2.94	-3.17
Martin ratio: Return relative to average drawdown	-0.62	12.36	-12.98

WMGAX vs. DDIIX - Sharpe Ratio Comparison

The current WMGAX Sharpe Ratio is -0.22, which is lower than the DDIIX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of WMGAX and DDIIX, 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

WMGAX vs. DDIIX - Drawdown Comparison

The maximum WMGAX drawdown since its inception was -53.74%, which is greater than DDIIX's maximum drawdown of -47.01%. Use the drawdown chart below to compare losses from any high point for WMGAX and DDIIX.

Drawdown Indicators

	WMGAX	DDIIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-47.01%	-6.73%
Max Drawdown (1Y) Largest decline over 1 year	-16.16%	-6.46%	-9.70%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	-11.62%	-14.97%
Max Drawdown (5Y) Largest decline over 5 years	-42.95%	-15.70%	-27.25%
Max Drawdown (10Y) Largest decline over 10 years	-42.95%	-29.46%	-13.49%
Current Drawdown Current decline from peak	-16.62%	-0.15%	-16.47%
Average Drawdown Average peak-to-trough decline	-13.63%	-6.40%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.23%	1.53%	+4.70%

Volatility

WMGAX vs. DDIIX - Volatility Comparison

Delaware Ivy Mid Cap Growth Fund (WMGAX) has a higher volatility of 3.23% compared to Delaware Wealth Builder Fund (DDIIX) at 2.20%. This indicates that WMGAX's price experiences larger fluctuations and is considered to be riskier than DDIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMGAX	DDIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	2.20%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	13.76%	6.92%	+6.84%
Volatility (1Y) Calculated over the trailing 1-year period	17.88%	8.64%	+9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.13%	10.53%	+14.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.14%	11.26%	+11.88%

WMGAX vs. DDIIX - Expense Ratio Comparison

WMGAX has a 1.12% expense ratio, which is higher than DDIIX's 0.84% expense ratio.

Dividends

WMGAX vs. DDIIX - Dividend Comparison

WMGAX's dividend yield for the trailing twelve months is around 11.03%, more than DDIIX's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDIIX Delaware Wealth Builder Fund	6.30%	7.38%	6.40%	4.23%	8.05%	7.15%	2.54%	4.46%	9.67%	2.88%	2.19%	2.79%
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

Can I hold both WMGAX and DDIIX in my portfolio?

WMGAX and DDIIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WMGAX or DDIIX?

WMGAX has higher volatility (3.23%) compared to DDIIX (2.20%). In terms of maximum drawdown, WMGAX dropped -53.74% vs DDIIX's -47.01%.

Which has better risk-adjusted returns?

DDIIX currently has the higher Sharpe Ratio (2.20 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.