Any investors hoping to find a Mutual Fund Bond fund might consider looking past Delaware Ivy High Income Fund Class R6 (IHIFX). IHIFX has a Zacks Mutual Fund Rank of 4 (Sell), which is based on nine forecasting factors like size, cost, and past performance.History of Fund/ManagerIHIFX finds itself in the Delaware Investments family, based out of Philadelphia, PA. The Delaware Ivy High Income Fund Class R6 made its debut in July of 2014 and IHIFX has managed to accumulate roughly $54.12 million in assets, as of the most recently available information. The fund is currently managed by John P. McCarthy who has been in charge of the fund since November of 2021.PerformanceOf course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 1.37%, and it sits in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of -0.36%, which places it in the bottom third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, IHIFX's standard deviation comes in at 12.46%, compared to the category average of 14.43%. The standard deviation of the fund over the past 5 years is 10.07% compared to the category average of 12.78%. This makes the fund less volatile than its peers over the past half-decade.With a beta of 0.26, this fund is less volatile than a broad market index of fixed income securities. Taking this into account, IHIFX has a positive alpha of 0.6, which measures performance on a risk-adjusted basis.ExpensesCosts are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, IHIFX is a no load fund. It has an expense ratio of 0.60% compared to the category average of 0.99%. IHIFX is actually cheaper than its peers when you consider factors like cost.While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.Bottom LineOverall, Delaware Ivy High Income Fund Class R6 ( IHIFX ) has a low Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, average downside risk, and lower fees, Delaware Ivy High Income Fund Class R6 ( IHIFX ) looks like a somewhat weak choice for investors right now.Your research on the Mutual Fund Bond segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are. Want to Know the #1 Semiconductor Stock for 2022? Few people know how promising the semiconductor market is. Over the last couple of years, disruptions to the supply chain have caused shortages in several industries. The absence of one single semiconductor can stop all operations in certain industries. This year, companies that create and produce this essential material will have incredible pricing power. For a limited time, Zacks is revealing the top semiconductor stock for 2022. You'll find it in our new Special Report, One Semiconductor Stock Stands to Gain the Most. Today, it's yours free with no obligation.>>Give me access to my free special report.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (IHIFX): Fund Analysis Report To read this article on Zacks.com click here. Zacks Investment Research