But last year, the Ivy fund lost 65 percent of its assets — meaning that investors pulled out — while the Waddell & Reed fund lost only 26 percent.

But last year, the Ivy fund lost 65 percent of its assets — meaning that investors pulled out — while the Waddell & Reed fund lost only 26 percent.<br />Net flow percentages, 2016<br />FUNDS SOLD BY ADVISERS<br />IDENTICAL FUNDS SOLD BY ADVISERS<br />PAID BY THE FUND CREATOR<br />NOT PAID BY THE FUND CREATOR<br />Waddell & Reed Advisor<br />Science and Technology<br />Strategic Emerging Markets<br />“Asset flows are driven by a number of factors, including the end investor<br />and their investment goals and time horizon,” said Natalie Marin, a spokeswoman for Oppenheimer.<br />Over the last three years, the Ivy fund has lost 82 percent, compared with 41 percent for the Waddell & Reed fund.<br />Given that both funds come from the same family — the Ivy fund is a product of Waddell & Reed,<br />and they have the same portfolio managers — it might seem to be a curious question why one dysfunctional family member is being battered more than another.