WMGAX vs. FTNYX
WMGAX (Delaware Ivy Mid Cap Growth Fund) and FTNYX (Delaware Tax-Free New York Fund) are both mutual funds - WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds, while FTNYX is a Municipal Bonds fund managed by Delaware Funds. Over the past 10 years, WMGAX returned 11.18%/yr vs 2.25%/yr for FTNYX. At a correlation of -0.08, they often move in opposite directions. WMGAX charges 1.12%/yr vs 0.80%/yr for FTNYX.
Performance
WMGAX vs. FTNYX - Performance Comparison
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Returns By Period
In the year-to-date period, WMGAX achieves a 2.71% return, which is significantly lower than FTNYX's 3.13% return. Over the past 10 years, WMGAX has outperformed FTNYX with an annualized return of 11.18%, while FTNYX has yielded a comparatively lower 2.25% annualized return.
WMGAX
- 1D
- 0.69%
- 1M
- -0.26%
- 6M
- -0.97%
- YTD
- 2.71%
- 1Y
- 0.88%
- 3Y*
- 5.18%
- 5Y*
- -0.40%
- 10Y*
- 11.18%
FTNYX
- 1D
- 0.10%
- 1M
- 0.81%
- 6M
- 2.63%
- YTD
- 3.13%
- 1Y
- 8.50%
- 3Y*
- 4.52%
- 5Y*
- 0.75%
- 10Y*
- 2.25%
WMGAX vs. FTNYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WMGAX Delaware Ivy Mid Cap Growth Fund | 2.71% | 0.83% | 10.02% | 19.97% | -30.68% | 16.22% | 48.56% | 38.01% | -0.20% | 26.95% |
FTNYX Delaware Tax-Free New York Fund | 3.13% | 2.46% | 3.13% | 8.24% | -12.26% | 3.91% | 5.15% | 8.18% | 0.70% | 6.11% |
Correlation
The correlation between WMGAX and FTNYX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | -0.08 |
The correlation between WMGAX and FTNYX shifts across timeframes, from -0.08 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WMGAX vs. FTNYX — Risk / Return Rank
WMGAX
FTNYX
WMGAX vs. FTNYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Growth Fund (WMGAX) and Delaware Tax-Free New York Fund (FTNYX). 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 | FTNYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.50 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.54 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.05 | 9.06 | -9.11 |
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Drawdowns
WMGAX vs. FTNYX - Drawdown Comparison
The maximum WMGAX drawdown since its inception was -53.74%, which is greater than FTNYX's maximum drawdown of -17.11%. Use the drawdown chart below to compare losses from any high point for WMGAX and FTNYX.
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Drawdown Indicators
| WMGAX | FTNYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.74% | -17.11% | -36.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.16% | -3.24% | -12.92% |
Max Drawdown (3Y)Largest decline over 3 years | -26.59% | -8.54% | -18.05% |
Max Drawdown (5Y)Largest decline over 5 years | -42.95% | -17.11% | -25.84% |
Max Drawdown (10Y)Largest decline over 10 years | -42.95% | -17.11% | -25.84% |
Current DrawdownCurrent decline from peak | -14.84% | -0.57% | -14.27% |
Average DrawdownAverage peak-to-trough decline | -13.62% | -1.95% | -11.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.99% | 0.91% | +5.08% |
Volatility
WMGAX vs. FTNYX - Volatility Comparison
Delaware Ivy Mid Cap Growth Fund (WMGAX) has a higher volatility of 5.55% compared to Delaware Tax-Free New York Fund (FTNYX) at 0.81%. This indicates that WMGAX's price experiences larger fluctuations and is considered to be riskier than FTNYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WMGAX | FTNYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 0.81% | +4.74% |
Volatility (6M)Calculated over the trailing 6-month period | 13.86% | 2.83% | +11.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.94% | 3.81% | +14.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.17% | 5.35% | +19.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.13% | 4.91% | +18.22% |
WMGAX vs. FTNYX - Expense Ratio Comparison
WMGAX has a 1.12% expense ratio, which is higher than FTNYX's 0.80% expense ratio.
Dividends
WMGAX vs. FTNYX - Dividend Comparison
WMGAX's dividend yield for the trailing twelve months is around 10.80%, more than FTNYX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTNYX Delaware Tax-Free New York Fund | 3.98% | 5.09% | 4.14% | 3.13% | 3.27% | 2.39% | 3.50% | 3.97% | 3.70% | 3.81% | 3.12% | 3.14% |
WMGAX Delaware Ivy Mid Cap Growth Fund | 10.80% | 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 FTNYX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WMGAX has higher volatility (5.55%) compared to FTNYX (0.81%). In terms of maximum drawdown, WMGAX dropped -53.74% vs FTNYX's -17.11%.
FTNYX currently has the higher Sharpe Ratio (2.16 vs -0.02), 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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