IACIX vs. NQVRX

Last updated Jun 23, 2026

IACIX (VY American Century Small-Mid Cap Value Portfolio) and NQVRX (Nuveen Multi Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, IACIX returned 9.57%/yr vs 13.35%/yr for NQVRX. Their correlation of 0.91 suggests significant overlap in exposure. IACIX charges 0.85%/yr vs 1.00%/yr for NQVRX.

Performance

IACIX vs. NQVRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VY American Century Small-Mid Cap Value Portfolio (IACIX) and Nuveen Multi Cap Value Fund (NQVRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IACIX achieves a 11.26% return, which is significantly lower than NQVRX's 14.53% return. Over the past 10 years, IACIX has underperformed NQVRX with an annualized return of 9.57%, while NQVRX has yielded a comparatively higher 13.35% annualized return.

IACIX

• 1D: 0.49%
• 1M: 1.48%
• YTD: 11.26%
• 6M: 9.97%
• 1Y: 19.89%
• 3Y*: 10.06%
• 5Y*: 7.30%
• 10Y*: 9.57%

NQVRX

• 1D: 0.59%
• 1M: 0.94%
• YTD: 14.53%
• 6M: 13.80%
• 1Y: 32.81%
• 3Y*: 19.56%
• 5Y*: 14.16%
• 10Y*: 13.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IACIX vs. NQVRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IACIX VY American Century Small-Mid Cap Value Portfolio	11.26%	5.24%	8.21%	9.01%	-5.23%	27.57%	3.85%	30.82%	-14.11%	11.47%
NQVRX Nuveen Multi Cap Value Fund	14.53%	17.89%	19.25%	15.94%	-1.02%	28.56%	-0.27%	30.35%	-14.39%	18.68%

Correlation

The correlation between IACIX and NQVRX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 2, 2002	0.91

The correlation between IACIX and NQVRX shifts across timeframes, from 0.76 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IACIX vs. NQVRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IACIX

IACIX Risk / Return Rank: 40
IACIX Sharpe Ratio Rank: 37
IACIX Sortino Ratio Rank: 41
IACIX Omega Ratio Rank: 34
IACIX Calmar Ratio Rank: 47
IACIX Martin Ratio Rank: 39

NQVRX

NQVRX Risk / Return Rank: 83
NQVRX Sharpe Ratio Rank: 82
NQVRX Sortino Ratio Rank: 79
NQVRX Omega Ratio Rank: 72
NQVRX Calmar Ratio Rank: 91
NQVRX Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IACIX vs. NQVRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VY American Century Small-Mid Cap Value Portfolio (IACIX) and Nuveen Multi Cap Value Fund (NQVRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IACIX	NQVRX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.48	-0.84
Sortino ratio: Return per unit of downside risk	2.47	3.45	-0.98
Omega ratio: Gain probability vs. loss probability	1.29	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.51	4.48	-1.97
Martin ratio: Return relative to average drawdown	8.08	16.95	-8.87

IACIX vs. NQVRX - Sharpe Ratio Comparison

The current IACIX Sharpe Ratio is 1.64, which is lower than the NQVRX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of IACIX and NQVRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IACIX vs. NQVRX - Drawdown Comparison

The maximum IACIX drawdown since its inception was -53.26%, smaller than the maximum NQVRX drawdown of -67.80%. Use the drawdown chart below to compare losses from any high point for IACIX and NQVRX.

Drawdown Indicators

	IACIX	NQVRX	Difference
Max Drawdown Largest peak-to-trough decline	-53.26%	-67.80%	+14.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-7.37%	-1.48%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	-17.93%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-19.18%	-17.93%	-1.25%
Max Drawdown (10Y) Largest decline over 10 years	-40.85%	-42.26%	+1.41%
Current Drawdown Current decline from peak	-1.36%	-0.46%	-0.90%
Average Drawdown Average peak-to-trough decline	-6.78%	-10.97%	+4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	1.94%	+0.74%

Volatility

IACIX vs. NQVRX - Volatility Comparison

The current volatility for VY American Century Small-Mid Cap Value Portfolio (IACIX) is 3.55%, while Nuveen Multi Cap Value Fund (NQVRX) has a volatility of 4.54%. This indicates that IACIX experiences smaller price fluctuations and is considered to be less risky than NQVRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IACIX	NQVRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.54%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	10.28%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	13.32%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	16.28%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	19.11%	+0.15%

IACIX vs. NQVRX - Expense Ratio Comparison

IACIX has a 0.85% expense ratio, which is lower than NQVRX's 1.00% expense ratio.

Dividends

IACIX vs. NQVRX - Dividend Comparison

IACIX's dividend yield for the trailing twelve months is around 8.41%, more than NQVRX's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IACIX VY American Century Small-Mid Cap Value Portfolio	8.41%	9.35%	4.70%	15.47%	22.39%	0.94%	1.97%	11.26%	14.56%	5.11%	9.82%	25.57%
NQVRX Nuveen Multi Cap Value Fund	1.63%	1.87%	1.86%	1.29%	1.42%	1.23%	3.40%	1.34%	0.00%	1.99%	1.02%	1.05%

Frequently Asked Questions

Can I hold both IACIX and NQVRX in my portfolio?

IACIX and NQVRX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IACIX or NQVRX?

NQVRX has higher volatility (4.54%) compared to IACIX (3.55%). In terms of maximum drawdown, IACIX dropped -53.26% vs NQVRX's -67.80%.

Which has better risk-adjusted returns?

NQVRX currently has the higher Sharpe Ratio (2.48 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.