IEMGX vs. BTC-USD

Last updated Apr 2, 2026

Compare and contrast key facts about Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) and Bitcoin (BTC-USD).

IEMGX is managed by BlackRock. It was launched on Oct 10, 2011.

Performance

IEMGX vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

IEMGX vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEMGX Voya Multi-Manager Emerging Markets Equity Fund	4.52%	46.12%	0.76%	15.09%	-24.13%	-2.91%	16.80%	25.23%	-19.85%	44.53%
BTC-USD Bitcoin	-21.63%	-6.27%	120.76%	155.82%	-64.23%	59.40%	304.57%	94.10%	-73.37%	1,324.24%

Returns By Period

In the year-to-date period, IEMGX achieves a 4.52% return, which is significantly higher than BTC-USD's -21.63% return. Over the past 10 years, IEMGX has underperformed BTC-USD with an annualized return of 8.85%, while BTC-USD has yielded a comparatively higher 66.45% annualized return.

IEMGX

• 1D: 2.76%
• 1M: -11.83%
• YTD: 4.52%
• 6M: 15.19%
• 1Y: 47.20%
• 3Y*: 18.81%
• 5Y*: 4.53%
• 10Y*: 8.85%

BTC-USD

• 1D: 0.51%
• 1M: -0.38%
• YTD: -21.63%
• 6M: -42.21%
• 1Y: -19.49%
• 3Y*: 34.49%
• 5Y*: 3.06%
• 10Y*: 66.45%

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

Return for Risk

IEMGX vs. BTC-USD — Risk / Return Rank

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

IEMGX

IEMGX Risk / Return Rank: 93
IEMGX Sharpe Ratio Rank: 96
IEMGX Sortino Ratio Rank: 95
IEMGX Omega Ratio Rank: 93
IEMGX Calmar Ratio Rank: 90
IEMGX Martin Ratio Rank: 89

BTC-USD

BTC-USD Risk / Return Rank: 43
BTC-USD Sharpe Ratio Rank: 61
BTC-USD Sortino Ratio Rank: 55
BTC-USD Omega Ratio Rank: 51
BTC-USD Calmar Ratio Rank: 43
BTC-USD Martin Ratio Rank: 4

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.

IEMGX vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) and Bitcoin (BTC-USD). 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.

	IEMGX	BTC-USD	Difference
Sharpe ratio Return per unit of total volatility	2.51	-0.44	+2.95
Sortino ratio Return per unit of downside risk	3.14	-0.38	+3.52
Omega ratio Gain probability vs. loss probability	1.47	0.96	+0.51
Calmar ratio Return relative to maximum drawdown	2.72	-1.11	+3.82
Martin ratio Return relative to average drawdown	10.35	-1.99	+12.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEMGX vs. BTC-USD - Sharpe Ratio Comparison

The current IEMGX Sharpe Ratio is 2.51, which is higher than the BTC-USD Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of IEMGX and BTC-USD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IEMGX	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	-0.44	+2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.05	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.97	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	1.19	-0.87

Correlation

The correlation between IEMGX and BTC-USD is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

IEMGX vs. BTC-USD - Drawdown Comparison

The maximum IEMGX drawdown since its inception was -41.87%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for IEMGX and BTC-USD.

Drawdown Indicators

	IEMGX	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-85.30%	+43.43%
Max Drawdown (1Y) Largest decline over 1 year	-15.85%	-49.65%	+33.80%
Max Drawdown (5Y) Largest decline over 5 years	-39.78%	-76.67%	+36.89%
Max Drawdown (10Y) Largest decline over 10 years	-41.87%	-83.80%	+41.93%
Current Drawdown Current decline from peak	-13.53%	-45.02%	+31.49%
Average Drawdown Average peak-to-trough decline	-15.24%	-41.99%	+26.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	27.60%	-23.44%

Volatility

IEMGX vs. BTC-USD - Volatility Comparison

The current volatility for Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) is 11.78%, while Bitcoin (BTC-USD) has a volatility of 13.58%. This indicates that IEMGX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEMGX	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.78%	13.58%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	16.13%	35.98%	-19.85%
Volatility (1Y) Calculated over the trailing 1-year period	22.06%	36.76%	-14.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	46.90%	-29.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	56.70%	-38.69%