IEDAX vs. IRSOX

Last updated Jun 4, 2026

IEDAX (Voya Large Cap Value Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both mutual funds - IEDAX is a Large Cap Value Equities fund managed by Voya, while IRSOX is a Target Retirement Date fund managed by Voya. Over the past 10 years, IEDAX returned 12.43%/yr vs 11.24%/yr for IRSOX. Their correlation of 0.87 suggests significant overlap in exposure. IEDAX charges 1.10%/yr vs 0.23%/yr for IRSOX.

Performance

IEDAX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Large Cap Value Fund (IEDAX) and Voya Target Retirement 2040 Fund (IRSOX). 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 lower than IRSOX's 11.67% return. Over the past 10 years, IEDAX has outperformed IRSOX with an annualized return of 12.43%, while IRSOX has yielded a comparatively lower 11.24% 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%

IRSOX

• 1D: 0.35%
• 1M: 5.13%
• YTD: 11.67%
• 6M: 12.45%
• 1Y: 26.71%
• 3Y*: 18.38%
• 5Y*: 9.48%
• 10Y*: 11.24%

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

IEDAX vs. IRSOX - 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%
IRSOX Voya Target Retirement 2040 Fund	11.67%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between IEDAX and IRSOX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 26, 2012	0.87

Over the past year, the correlation between IEDAX and IRSOX has dropped to 0.62 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

IEDAX vs. IRSOX — 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

IRSOX

IRSOX Risk / Return Rank: 82
IRSOX Sharpe Ratio Rank: 85
IRSOX Sortino Ratio Rank: 83
IRSOX Omega Ratio Rank: 78
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 87

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. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Large Cap Value Fund (IEDAX) and Voya Target Retirement 2040 Fund (IRSOX). 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	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.75	-0.96
Sortino ratio: Return per unit of downside risk	2.67	3.99	-1.32
Omega ratio: Gain probability vs. loss probability	1.33	1.51	-0.18
Calmar ratio: Return relative to maximum drawdown	2.04	3.53	-1.49
Martin ratio: Return relative to average drawdown	7.97	16.89	-8.92
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. IRSOX - Sharpe Ratio Comparison

The current IEDAX Sharpe Ratio is 1.79, which is lower than the IRSOX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of IEDAX and IRSOX, 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	IRSOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.75	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.70	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.77	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.75	-0.27

Drawdowns

IEDAX vs. IRSOX - Drawdown Comparison

The maximum IEDAX drawdown since its inception was -47.31%, which is greater than IRSOX's maximum drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for IEDAX and IRSOX.

Drawdown Indicators

	IEDAX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-47.31%	-31.25%	-16.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-8.38%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-22.40%	-13.84%	-8.56%
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	-25.24%	+2.84%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-31.25%	-8.11%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.49%	-4.28%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.69%	+0.79%

Volatility

IEDAX vs. IRSOX - Volatility Comparison

Voya Large Cap Value Fund (IEDAX) and Voya Target Retirement 2040 Fund (IRSOX) have volatilities of 3.22% and 3.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEDAX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	3.36%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	8.85%	8.82%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.45%	10.75%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	13.87%	+3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	14.80%	+4.02%

IEDAX vs. IRSOX - Expense Ratio Comparison

IEDAX has a 1.10% expense ratio, which is higher than IRSOX's 0.23% expense ratio.

Dividends

IEDAX vs. IRSOX - Dividend Comparison

IEDAX's dividend yield for the trailing twelve months is around 7.33%, less than IRSOX's 12.27% 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%
IRSOX Voya Target Retirement 2040 Fund	12.27%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%

Frequently Asked Questions

Can I hold both IEDAX and IRSOX in my portfolio?

IEDAX and IRSOX have a correlation of 0.62, 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 IRSOX?

IRSOX has higher volatility (3.36%) compared to IEDAX (3.22%). In terms of maximum drawdown, IEDAX dropped -47.31% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.75 vs 1.79), 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.