WMGAX vs. OILGX

Last updated Jun 5, 2026

WMGAX (Delaware Ivy Mid Cap Growth Fund) and OILGX (Optimum Large Cap Growth Fund) are both mutual funds - WMGAX is a Mid Cap Growth Equities fund managed by Delaware Funds, while OILGX is a Large Cap Growth Equities fund managed by Delaware Funds. Over the past 10 years, WMGAX returned 11.41%/yr vs 17.22%/yr for OILGX. Their correlation of 0.89 suggests significant overlap in exposure. WMGAX charges 1.12%/yr vs 0.89%/yr for OILGX.

Performance

WMGAX vs. OILGX - Performance Comparison

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

Returns By Period

In the year-to-date period, WMGAX achieves a 2.93% return, which is significantly lower than OILGX's 8.48% return. Over the past 10 years, WMGAX has underperformed OILGX with an annualized return of 11.41%, while OILGX has yielded a comparatively higher 17.22% annualized return.

WMGAX

• 1D: -0.51%
• 1M: 4.26%
• YTD: 2.93%
• 6M: -0.00%
• 1Y: 4.92%
• 3Y*: 7.07%
• 5Y*: 0.81%
• 10Y*: 11.41%

OILGX

• 1D: -1.42%
• 1M: 5.02%
• YTD: 8.48%
• 6M: 7.29%
• 1Y: 25.50%
• 3Y*: 28.93%
• 5Y*: 14.12%
• 10Y*: 17.22%

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

WMGAX vs. OILGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WMGAX Delaware Ivy Mid Cap Growth Fund	2.93%	0.83%	10.02%	19.97%	-30.68%	16.22%	48.56%	38.01%	-0.20%	26.95%
OILGX Optimum Large Cap Growth Fund	8.48%	15.97%	49.90%	41.16%	-34.69%	17.88%	33.81%	31.34%	-0.80%	32.46%

Correlation

The correlation between WMGAX and OILGX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 24, 2003	0.89

Over the past year, the correlation between WMGAX and OILGX has dropped to 0.69 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

WMGAX vs. OILGX — Risk / Return Rank

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

WMGAX

WMGAX Risk / Return Rank: 5
WMGAX Sharpe Ratio Rank: 5
WMGAX Sortino Ratio Rank: 5
WMGAX Omega Ratio Rank: 4
WMGAX Calmar Ratio Rank: 5
WMGAX Martin Ratio Rank: 5

OILGX

OILGX Risk / Return Rank: 28
OILGX Sharpe Ratio Rank: 32
OILGX Sortino Ratio Rank: 29
OILGX Omega Ratio Rank: 30
OILGX Calmar Ratio Rank: 22
OILGX Martin Ratio Rank: 25

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.

WMGAX vs. OILGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Mid Cap Growth Fund (WMGAX) and Optimum Large Cap Growth Fund (OILGX). 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.

	WMGAX	OILGX	Difference
Sharpe ratio: Return per unit of total volatility	0.30	1.63	-1.33
Sortino ratio: Return per unit of downside risk	0.57	2.24	-1.68
Omega ratio: Gain probability vs. loss probability	1.06	1.28	-0.22
Calmar ratio: Return relative to maximum drawdown	0.32	1.71	-1.39
Martin ratio: Return relative to average drawdown	0.89	6.04	-5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WMGAX vs. OILGX - Sharpe Ratio Comparison

The current WMGAX Sharpe Ratio is 0.30, which is lower than the OILGX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of WMGAX and OILGX, 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

	WMGAX	OILGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	1.63	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.61	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.78	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.59	-0.20

Drawdowns

WMGAX vs. OILGX - Drawdown Comparison

The maximum WMGAX drawdown since its inception was -53.74%, roughly equal to the maximum OILGX drawdown of -54.28%. Use the drawdown chart below to compare losses from any high point for WMGAX and OILGX.

Drawdown Indicators

	WMGAX	OILGX	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-54.28%	+0.54%
Max Drawdown (1Y) Largest decline over 1 year	-16.16%	-15.31%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	-26.59%	-23.75%	-2.84%
Max Drawdown (5Y) Largest decline over 5 years	-42.95%	-39.97%	-2.98%
Max Drawdown (10Y) Largest decline over 10 years	-42.95%	-39.97%	-2.98%
Current Drawdown Current decline from peak	-14.66%	-1.71%	-12.95%
Average Drawdown Average peak-to-trough decline	-13.62%	-8.48%	-5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.85%	4.33%	+1.52%

Volatility

WMGAX vs. OILGX - Volatility Comparison

Delaware Ivy Mid Cap Growth Fund (WMGAX) has a higher volatility of 4.43% compared to Optimum Large Cap Growth Fund (OILGX) at 4.02%. This indicates that WMGAX's price experiences larger fluctuations and is considered to be riskier than OILGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WMGAX	OILGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.02%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	12.11%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	17.36%	16.10%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.06%	23.41%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.18%	22.04%	+1.14%

WMGAX vs. OILGX - Expense Ratio Comparison

WMGAX has a 1.12% expense ratio, which is higher than OILGX's 0.89% expense ratio.

Dividends

WMGAX vs. OILGX - Dividend Comparison

WMGAX's dividend yield for the trailing twelve months is around 10.78%, less than OILGX's 12.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OILGX Optimum Large Cap Growth Fund	12.95%	14.05%	20.62%	11.50%	4.95%	14.42%	7.72%	2.98%	14.76%	18.13%	3.68%	10.49%
WMGAX Delaware Ivy Mid Cap Growth Fund	10.78%	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 OILGX in my portfolio?

WMGAX and OILGX have a correlation of 0.69, 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 OILGX?

WMGAX has higher volatility (4.43%) compared to OILGX (4.02%). In terms of maximum drawdown, WMGAX dropped -53.74% vs OILGX's -54.28%.

Which has better risk-adjusted returns?

OILGX currently has the higher Sharpe Ratio (1.63 vs 0.30), 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.