IDE vs. SMLPX

Last updated Aug 1, 2026

IDE (Voya Infrastructure, Industrials and Materials Fund) and SMLPX (Salient MLP & Energy Infrastructure Fund) are both Infrastructure Equities funds. Over the past 10 years, IDE returned 10.98%/yr vs 9.63%/yr for SMLPX. Their 0.47 correlation means their historical movements had little consistent relationship. IDE charges 0.01%/yr vs 1.35%/yr for SMLPX.

Performance

IDE vs. SMLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Infrastructure, Industrials and Materials Fund (IDE) and Salient MLP & Energy Infrastructure Fund (SMLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDE achieves a 11.32% return, which is significantly lower than SMLPX's 22.43% return. Over the past 10 years, IDE has outperformed SMLPX with an annualized return of 10.98%, while SMLPX has yielded a comparatively lower 9.63% annualized return.

IDE

• 1D: 1.47%
• 1M: -5.35%
• 6M: 1.72%
• YTD: 11.32%
• 1Y: 21.73%
• 3Y*: 20.57%
• 5Y*: 9.79%
• 10Y*: 10.98%
• ALL TIME*: 7.57%

SMLPX

• 1D: 0.98%
• 1M: 1.72%
• 6M: 13.84%
• YTD: 22.43%
• 1Y: 23.62%
• 3Y*: 22.75%
• 5Y*: 18.59%
• 10Y*: 9.63%
• ALL TIME*: 6.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IDE Voya Infrastructure, Industrials and Materials Fund	$502.73K	$436.82K	$481.70K
SMLPX Salient MLP & Energy Infrastructure Fund	$0.00	$0.00	$0.00

IDE vs. SMLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDE Voya Infrastructure, Industrials and Materials Fund	11.32%	34.61%	10.91%	22.04%	-16.54%	26.27%	-1.06%	13.49%	-24.48%	39.58%
SMLPX Salient MLP & Energy Infrastructure Fund	22.43%	5.22%	37.87%	14.06%	14.69%	22.69%	-17.25%	16.36%	-18.10%	-6.80%

Correlation

The correlation between IDE and SMLPX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.44
Correlation (10Y) Provides a long-term view across more market conditions.	0.45
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012	0.47

Over the past year, the correlation between IDE and SMLPX has dropped to 0.07 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

IDE vs. SMLPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IDE

IDE Risk / Return Rank: 45
IDE Sharpe Ratio Rank: 55
IDE Sortino Ratio Rank: 48
IDE Omega Ratio Rank: 52
IDE Calmar Ratio Rank: 34
IDE Martin Ratio Rank: 34

SMLPX

SMLPX Risk / Return Rank: 74
SMLPX Sharpe Ratio Rank: 72
SMLPX Sortino Ratio Rank: 71
SMLPX Omega Ratio Rank: 65
SMLPX Calmar Ratio Rank: 92
SMLPX Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IDE vs. SMLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Infrastructure, Industrials and Materials Fund (IDE) and Salient MLP & Energy Infrastructure Fund (SMLPX). 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.

	IDE	SMLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.72	-0.31
Sortino ratio: Return per unit of downside risk	1.90	2.43	-0.53
Omega ratio: Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	1.47	3.69	-2.21
Martin ratio: Return relative to average drawdown	5.04	8.50	-3.46

IDE vs. SMLPX - Sharpe Ratio Comparison

The current IDE Sharpe Ratio is 1.41, which is comparable to the SMLPX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of IDE and SMLPX, 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

IDE vs. SMLPX - Drawdown Comparison

The maximum IDE drawdown since its inception was -52.43%, smaller than the maximum SMLPX drawdown of -73.06%. Use the drawdown chart below to compare losses from any high point for IDE and SMLPX.

Drawdown Indicators

	IDE	SMLPX	Difference
Max Drawdown Largest peak-to-trough decline	-52.43%	-73.06%	+20.63%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	-6.57%	-7.77%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-17.59%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-29.36%	-21.32%	-8.04%
Max Drawdown (10Y) Largest decline over 10 years	-52.43%	-60.49%	+8.06%
Current Drawdown Current decline from peak	-5.75%	-3.50%	-2.25%
Average Drawdown Average peak-to-trough decline	-11.22%	-26.86%	+15.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	2.84%	+1.34%

Volatility

IDE vs. SMLPX - Volatility Comparison

The current volatility for Voya Infrastructure, Industrials and Materials Fund (IDE) is 4.75%, while Salient MLP & Energy Infrastructure Fund (SMLPX) has a volatility of 5.17%. This indicates that IDE experiences smaller price fluctuations and is considered to be less risky than SMLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDE	SMLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	5.17%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	11.26%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	14.10%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	19.81%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.87%	24.04%	-3.17%

IDE vs. SMLPX - Expense Ratio Comparison

IDE has a 0.01% expense ratio, which is lower than SMLPX's 1.35% expense ratio.

Dividends

IDE vs. SMLPX - Dividend Comparison

IDE's dividend yield for the trailing twelve months is around 9.16%, more than SMLPX's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDE Voya Infrastructure, Industrials and Materials Fund	8.40%	9.76%	11.12%	9.00%	9.99%	7.58%	8.89%	9.02%	16.46%	6.88%	10.67%	12.56%
SMLPX Salient MLP & Energy Infrastructure Fund	3.70%	4.45%	4.48%	5.75%	2.19%	3.69%	5.82%	4.54%	6.21%	6.09%	6.31%	8.63%

Frequently Asked Questions

Can I hold both IDE and SMLPX in my portfolio?

IDE and SMLPX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDE or SMLPX?

SMLPX has higher volatility (5.17%) compared to IDE (4.75%). In terms of maximum drawdown, IDE dropped -52.43% vs SMLPX's -73.06%.

Which has better risk-adjusted returns?

SMLPX currently has the higher Sharpe Ratio (1.72 vs 1.41), 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.