IEDAX vs. IISBX

Last updated Jun 4, 2026

IEDAX (Voya Large Cap Value Fund) and IISBX (Voya Short Term Bond Fund) are both mutual funds - IEDAX is a Large Cap Value Equities fund managed by Voya, while IISBX is a Short-Term Bond fund managed by Voya. Over the past 10 years, IEDAX returned 12.43%/yr vs 2.03%/yr for IISBX. At a 0.02 correlation, their price movements are largely independent. IEDAX charges 1.10%/yr vs 0.35%/yr for IISBX.

Performance

IEDAX vs. IISBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Large Cap Value Fund (IEDAX) and Voya Short Term Bond Fund (IISBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEDAX achieves a 8.93% return, which is significantly higher than IISBX's 0.66% return. Over the past 10 years, IEDAX has outperformed IISBX with an annualized return of 12.43%, while IISBX has yielded a comparatively lower 2.03% annualized return.

IEDAX

• 1D: 0.81%
• 1M: 5.65%
• YTD: 8.93%
• 6M: 9.01%
• 1Y: 18.16%
• 3Y*: 16.93%
• 5Y*: 10.37%
• 10Y*: 12.43%

IISBX

• 1D: 0.00%
• 1M: 0.27%
• YTD: 0.66%
• 6M: 1.16%
• 1Y: 3.41%
• 3Y*: 4.36%
• 5Y*: 1.73%
• 10Y*: 2.03%

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

IEDAX vs. IISBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEDAX Voya Large Cap Value Fund	8.93%	12.42%	16.47%	13.26%	-3.86%	26.38%	5.53%	35.63%	-8.29%	13.36%
IISBX Voya Short Term Bond Fund	0.66%	4.66%	4.88%	4.38%	-5.30%	0.13%	3.66%	4.68%	1.00%	1.54%

Correlation

The correlation between IEDAX and IISBX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.02

Over the past year, IEDAX and IISBX have become more correlated (0.29) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

IEDAX vs. IISBX — Risk / Return Rank

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

IEDAX

IEDAX Risk / Return Rank: 37
IEDAX Sharpe Ratio Rank: 38
IEDAX Sortino Ratio Rank: 41
IEDAX Omega Ratio Rank: 38
IEDAX Calmar Ratio Rank: 30
IEDAX Martin Ratio Rank: 36

IISBX

IISBX Risk / Return Rank: 50
IISBX Sharpe Ratio Rank: 37
IISBX Sortino Ratio Rank: 59
IISBX Omega Ratio Rank: 56
IISBX Calmar Ratio Rank: 51
IISBX Martin Ratio Rank: 48

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.

IEDAX vs. IISBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Large Cap Value Fund (IEDAX) and Voya Short Term Bond Fund (IISBX). 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.

	IEDAX	IISBX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.77	+0.02
Sortino ratio: Return per unit of downside risk	2.67	3.24	-0.57
Omega ratio: Gain probability vs. loss probability	1.33	1.42	-0.09
Calmar ratio: Return relative to maximum drawdown	2.04	2.75	-0.71
Martin ratio: Return relative to average drawdown	7.97	9.95	-1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEDAX vs. IISBX - Sharpe Ratio Comparison

The current IEDAX Sharpe Ratio is 1.79, which is comparable to the IISBX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of IEDAX and IISBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IEDAX	IISBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.77	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.72	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.92	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.94	-0.45

Drawdowns

IEDAX vs. IISBX - Drawdown Comparison

The maximum IEDAX drawdown since its inception was -47.31%, which is greater than IISBX's maximum drawdown of -8.22%. Use the drawdown chart below to compare losses from any high point for IEDAX and IISBX.

Drawdown Indicators

	IEDAX	IISBX	Difference
Max Drawdown Largest peak-to-trough decline	-47.31%	-8.22%	-39.09%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-1.38%	-8.66%
Max Drawdown (3Y) Largest decline over 3 years	-22.40%	-1.38%	-21.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	-7.40%	-15.00%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-8.22%	-31.14%
Current Drawdown Current decline from peak	0.00%	-0.26%	+0.26%
Average Drawdown Average peak-to-trough decline	-6.49%	-0.89%	-5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	0.37%	+2.11%

Volatility

IEDAX vs. IISBX - Volatility Comparison

Voya Large Cap Value Fund (IEDAX) has a higher volatility of 3.22% compared to Voya Short Term Bond Fund (IISBX) at 0.84%. This indicates that IEDAX's price experiences larger fluctuations and is considered to be riskier than IISBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEDAX	IISBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	0.84%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	8.85%	1.64%	+7.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.45%	2.14%	+9.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	2.45%	+14.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	2.25%	+16.57%

IEDAX vs. IISBX - Expense Ratio Comparison

IEDAX has a 1.10% expense ratio, which is higher than IISBX's 0.35% expense ratio.

Dividends

IEDAX vs. IISBX - Dividend Comparison

IEDAX's dividend yield for the trailing twelve months is around 7.33%, more than IISBX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEDAX Voya Large Cap Value Fund	7.33%	8.03%	15.43%	10.92%	8.06%	16.02%	9.13%	17.61%	11.75%	11.03%	1.89%	8.59%
IISBX Voya Short Term Bond Fund	3.80%	3.46%	4.75%	2.96%	1.61%	1.35%	2.25%	2.40%	2.54%	1.84%	1.90%	1.88%

Frequently Asked Questions

Can I hold both IEDAX and IISBX in my portfolio?

IEDAX and IISBX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEDAX or IISBX?

IEDAX has higher volatility (3.22%) compared to IISBX (0.84%). In terms of maximum drawdown, IEDAX dropped -47.31% vs IISBX's -8.22%.

Which has better risk-adjusted returns?

IEDAX currently has the higher Sharpe Ratio (1.79 vs 1.77), 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.