<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com -->
<!-- Created: Mon Aug 10 20:00:48 UTC 2026 -->
<xs:schema elementFormDefault="qualified" targetNamespace="http://ivyinvest.co/20250930" 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/20250930" xmlns:dtr="http://www.xbrl.org/dtr/type/2022-03-31" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <xs:annotation>
    <xs:appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="iisf-20250930_lab.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="iisf-20250930_pre.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef"/>
      <link:linkbaseRef xlink:type="simple" xlink:href="iisf-20250930_def.xml" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef"/>
    </xs:appinfo>
  </xs:annotation>
  <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"/>
  <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:element name="FounderClassMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="iisf_FounderClassMember"/>
<!-- [WMV7][5WYQ5g649RaNzA04H1XJ49wStx97q/gdwokGA+1uJo42G9thKSMTEnhZxk29w08eRxdT4BVFYEXpXH8C5fhlkNnWg03DRx53NF1WxK3OX8/A6ZnzKCKdvWQGAl1ipkyw5zUTg947zi5EEgY8dhXY2MexMZ9SzkWQo/cNJE3oNz3AGcy6MN/r3rZbH/RzwpV1dEt96+cVDWyj2tAJMGIDjRSRIAXy/96TEl9pWRSlckJfSn+1t9OOvBFo+GvFhAVuvQ0roes4plB7b4Raqt1+DNRyguf2JgNXeoNH3KFszd+FRtJoe9H1hw==] CSR-->
  <xs:element name="InvestorClassMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="iisf_InvestorClassMember"/>
</xs:schema>
