<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com -->
<!-- Created: Mon Aug 10 20:23:33 UTC 2026 -->
<xs:schema elementFormDefault="qualified" targetNamespace="http://ivyinvest.co/20240331" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:us-types="http://fasb.org/us-types/2024" xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iisf="http://ivyinvest.co/20240331" xmlns:dtr="http://www.xbrl.org/dtr/type/2022-03-31" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/cef/2024" schemaLocation="https://xbrl.sec.gov/cef/2024/cef-2024.xsd"/>
  <xs:import namespace="http://xbrl.sec.gov/cef-pre/2024" schemaLocation="https://xbrl.sec.gov/cef/2024/cef-2024_pre.xsd"/>
<!-- [WMV7][DdAFDyPQT6rXeXuBSPdoeHPyVfG1jqRr8FnHqI57GwVN4yT/JOq8okPHu8YaoFuxw0FjiRi4OWj6iHnRz4OXjEnaASpCg+0QQXUxkTJE+TGCp01M0uzyiYF4zLVkG+MlLU7stKJaJAqK1/RMMv859Ydx0P+LhgPOz4w2pOYDDdPEPq6cEyaSgqN+Alhbz+5GVvULBKKHbL+tUgsRaPSFpKK3/wfK3vwY8kGrbgVIsbQgSe/GFNYjXbbbmCYQdZsFCjxK0FRllDt+crWpy4FOXwA+dRVAZGes64wEAan6ZXq79wWDnQ==] CSR-->
  <xs:import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd"/>
</xs:schema>