IEMGX vs. BTC-USD
IEMGX (Voya Multi-Manager Emerging Markets Equity Fund) is Emerging Markets Diversified fund managed by BlackRock, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, IEMGX returned 12.60%/yr vs 57.41%/yr for BTC-USD. At a 0.10 correlation, their price movements are largely independent.
Performance
IEMGX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, IEMGX achieves a 43.07% return, which is significantly higher than BTC-USD's -28.07% return. Over the past 10 years, IEMGX has underperformed BTC-USD with an annualized return of 12.60%, while BTC-USD has yielded a comparatively higher 57.41% annualized return.
IEMGX
- 1D
- 1.94%
- 1M
- 12.15%
- YTD
- 43.07%
- 6M
- 46.14%
- 1Y
- 79.10%
- 3Y*
- 31.25%
- 5Y*
- 10.87%
- 10Y*
- 12.60%
BTC-USD
- 1D
- -1.58%
- 1M
- -18.24%
- YTD
- -28.07%
- 6M
- -28.01%
- 1Y
- -40.30%
- 3Y*
- 27.25%
- 5Y*
- 12.68%
- 10Y*
- 57.41%
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 | 43.07% | 46.12% | 0.76% | 15.09% | -24.13% | -2.91% | 16.80% | 25.23% | -19.85% | 44.53% |
BTC-USD Bitcoin | -28.07% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between IEMGX and BTC-USD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2012 | 0.10 |
The correlation between IEMGX and BTC-USD shifts across timeframes, from 0.10 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEMGX vs. BTC-USD — Risk / Return Rank
IEMGX
BTC-USD
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.
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.
| IEMGX | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.58 | ||
| Sortino ratioReturn per unit of downside risk | +5.42 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 0.86 | +0.78 |
| Calmar ratioReturn relative to maximum drawdown | 5.72 | -0.79 | +6.51 |
| Martin ratioReturn relative to average drawdown | 20.72 | -1.32 | +22.04 |
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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.
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Drawdown Indicators
| IEMGX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -85.30% | +43.43% |
Max Drawdown (1Y)Largest decline over 1 year | -15.85% | -51.21% | +35.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.58% | -51.21% | +33.63% |
Max Drawdown (5Y)Largest decline over 5 years | -39.36% | -76.67% | +37.31% |
Max Drawdown (10Y)Largest decline over 10 years | -41.87% | -83.80% | +41.93% |
Current DrawdownCurrent decline from peak | 0.00% | -49.54% | +49.54% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -42.40% | +27.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 31.29% | -27.12% |
Volatility
IEMGX vs. BTC-USD - Volatility Comparison
Voya Multi-Manager Emerging Markets Equity Fund (IEMGX) has a higher volatility of 13.17% compared to Bitcoin (BTC-USD) at 12.23%. This indicates that IEMGX's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMGX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.17% | 12.23% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 21.93% | 34.57% | -12.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 35.70% | -10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 44.26% | -25.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 56.41% | -37.73% |
Frequently Asked Questions
IEMGX and BTC-USD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMGX has higher volatility (13.17%) compared to BTC-USD (12.23%). In terms of maximum drawdown, IEMGX dropped -41.87% vs BTC-USD's -85.30%.
IEMGX currently has the higher Sharpe Ratio (3.64 vs -0.94), 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.
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