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Voya High Yield Bond Fund (IHYAX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The investment seeks to provide investors with a high level of current income and total return. Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of high-yield (high risk) bonds commonly known as "junk bonds." High-yield bonds are debt instruments that, at the time of purchase, are not rated by a nationally recognized statistical rating organization ("NRSRO") or are rated below investment-grade (for example, rated below BBB- by S&P Global Ratings or Baa3 by Moody's Investors Service, Inc.) or have an equivalent rating by a NRSRO.

Looking to diversify beyond IHYAX? The mutual funds below have the lowest correlation with IHYAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from IHYAX.

Best Diversifiers for IHYAX

4 mutual funds have low correlation with IHYAX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CCLFX
Cliffwater Corporate Lending Fund0.040.080.10
100
High Yield BondsIHYAX vs CCLFX
XILSX
Pioneer ILS Interval Fund0.070.070.05
100
High Yield BondsIHYAX vs XILSX
RPHIX
RiverPark Short Term High Yield Fund0.160.160.26
99
High Yield BondsIHYAX vs RPHIX
RCRYX
Pioneer Corporate High Yield Fund0.300.660.78
52
High Yield BondsIHYAX vs RCRYX
PRFRX
T. Rowe Price Floating Rate Fund0.380.450.53
96
High Yield BondsIHYAX vs PRFRX
See all 29 diversifiers for IHYAX

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