WMGAX vs. IGNAX
WMGAX (Delaware Ivy Mid Cap Growth Fund) and IGNAX (Delaware Ivy Natural Resources Fund) are both mutual funds - WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds, while IGNAX is a Energy Equities fund managed by Delaware Funds. Over the past 10 years, WMGAX returned 10.91%/yr vs 7.20%/yr for IGNAX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. WMGAX charges 1.12%/yr vs 1.82%/yr for IGNAX.
Performance
WMGAX vs. IGNAX - 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 IGNAX's 13.92% return. Over the past 10 years, WMGAX has outperformed IGNAX with an annualized return of 10.91%, while IGNAX has yielded a comparatively lower 7.20% 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%
IGNAX
- 1D
- -0.72%
- 1M
- 4.93%
- 6M
- 3.58%
- YTD
- 13.92%
- 1Y
- 43.97%
- 3Y*
- 15.05%
- 5Y*
- 15.21%
- 10Y*
- 7.20%
- ALL TIME*
- 5.33%
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. IGNAX - 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% |
IGNAX Delaware Ivy Natural Resources Fund | 13.92% | 38.01% | -0.56% | 1.26% | 17.52% | 26.06% | -12.38% | 9.24% | -23.79% | 2.89% |
Correlation
The correlation between WMGAX and IGNAX is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.51 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000 | 0.61 |
Over the past year, the correlation between WMGAX and IGNAX has dropped to 0.41 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
WMGAX vs. IGNAX — Risk / Return Rank
WMGAX
IGNAX
WMGAX vs. IGNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Growth Fund (WMGAX) and Delaware Ivy Natural Resources Fund (IGNAX). 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 | IGNAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.40 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 3.74 | -3.97 |
| Martin ratioReturn relative to average drawdown | -0.62 | 12.17 | -12.78 |
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Drawdowns
WMGAX vs. IGNAX - Drawdown Comparison
The maximum WMGAX drawdown since its inception was -53.74%, smaller than the maximum IGNAX drawdown of -77.49%. Use the drawdown chart below to compare losses from any high point for WMGAX and IGNAX.
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Drawdown Indicators
| WMGAX | IGNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.74% | -77.49% | +23.75% |
Max Drawdown (1Y)Largest decline over 1 year | -16.16% | -11.40% | -4.76% |
Max Drawdown (3Y)Largest decline over 3 years | -26.59% | -22.86% | -3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -42.95% | -24.79% | -18.16% |
Max Drawdown (10Y)Largest decline over 10 years | -42.95% | -57.95% | +15.00% |
Current DrawdownCurrent decline from peak | -16.62% | -12.92% | -3.70% |
Average DrawdownAverage peak-to-trough decline | -13.63% | -35.56% | +21.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.23% | 3.49% | +2.74% |
Volatility
WMGAX vs. IGNAX - Volatility Comparison
The current volatility for Delaware Ivy Mid Cap Growth Fund (WMGAX) is 3.23%, while Delaware Ivy Natural Resources Fund (IGNAX) has a volatility of 4.10%. This indicates that WMGAX experiences smaller price fluctuations and is considered to be less risky than IGNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WMGAX | IGNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 4.10% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 14.10% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.88% | 18.32% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.13% | 21.91% | +3.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.14% | 22.39% | +0.75% |
WMGAX vs. IGNAX - Expense Ratio Comparison
WMGAX has a 1.12% expense ratio, which is lower than IGNAX's 1.82% expense ratio.
Dividends
WMGAX vs. IGNAX - Dividend Comparison
WMGAX's dividend yield for the trailing twelve months is around 11.03%, while IGNAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGNAX Delaware Ivy Natural Resources Fund | 0.00% | 0.00% | 5.68% | 1.94% | 2.02% | 2.30% | 0.29% | 1.75% | 0.00% | 0.00% | 0.06% | 0.00% |
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 IGNAX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGNAX has higher volatility (4.10%) compared to WMGAX (3.23%). In terms of maximum drawdown, WMGAX dropped -53.74% vs IGNAX's -77.49%.
IGNAX currently has the higher Sharpe Ratio (2.33 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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