IAE vs. IMCDX

Last updated Jun 4, 2026

IAE (Voya Asia Pacific High Dividend Equity Income Fund) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both mutual funds - IAE is a Asia Pacific Equities fund managed by Voya, while IMCDX is a Emerging Markets Bonds fund managed by Voya. At a 0.25 correlation, their price movements are largely independent. IAE charges 0.02%/yr vs 0.10%/yr for IMCDX.

Performance

IAE vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Asia Pacific High Dividend Equity Income Fund (IAE) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IAE

• 1D: 3.16%
• 1M: 14.39%
• YTD: 30.87%
• 6M: 31.14%
• 1Y: 52.74%
• 3Y*: 29.70%
• 5Y*: 11.69%
• 10Y*: 11.82%

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAE vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAE Voya Asia Pacific High Dividend Equity Income Fund	30.87%	35.90%	14.60%	9.06%	-13.97%	3.60%	13.77%	9.62%	-11.31%	30.19%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%

Correlation

The correlation between IAE and IMCDX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Aug 1, 2012	0.25

Return for Risk

IAE vs. IMCDX — Risk / Return Rank

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

IAE

IAE Risk / Return Rank: 75
IAE Sharpe Ratio Rank: 79
IAE Sortino Ratio Rank: 68
IAE Omega Ratio Rank: 73
IAE Calmar Ratio Rank: 86
IAE Martin Ratio Rank: 70

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.

IAE vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Asia Pacific High Dividend Equity Income Fund (IAE) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	IAE	IMCDX	Difference
Sharpe ratio Return per unit of total volatility	2.61	—	—
Sortino ratio Return per unit of downside risk	3.44	—	—
Omega ratio Gain probability vs. loss probability	1.48	—	—
Calmar ratio Return relative to maximum drawdown	4.12	—	—
Martin ratio Return relative to average drawdown	13.41	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IAE	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	—	—

Drawdowns

Drawdown Indicators

	IAE	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-60.72%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.44%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-13.75%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	—	—

Volatility

Volatility by Period

	IAE	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.33%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.41%	—	—

IAE vs. IMCDX - Expense Ratio Comparison

IAE has a 0.02% expense ratio, which is lower than IMCDX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IAE vs. IMCDX - Dividend Comparison

IAE's dividend yield for the trailing twelve months is around 9.23%, while IMCDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAE Voya Asia Pacific High Dividend Equity Income Fund	9.23%	11.61%	13.37%	10.65%	14.03%	10.60%	9.97%	9.88%	9.61%	7.82%	11.14%	12.74%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Frequently Asked Questions

Can I hold both IAE and IMCDX in my portfolio?

IAE and IMCDX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.