IGA vs. IEDAX

Last updated Jun 4, 2026

IGA (Voya Global Advantage and Premium Opportunity Fund) and IEDAX (Voya Large Cap Value Fund) are both mutual funds - IGA is a Global Allocation fund managed by Voya, while IEDAX is a Large Cap Value Equities fund managed by Voya. Over the past 10 years, IGA returned 10.00%/yr vs 12.43%/yr for IEDAX. A 0.65 correlation means they provide meaningful diversification when combined. IGA charges 0.01%/yr vs 1.10%/yr for IEDAX.

Performance

IGA vs. IEDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Global Advantage and Premium Opportunity Fund (IGA) and Voya Large Cap Value Fund (IEDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGA achieves a 5.15% return, which is significantly lower than IEDAX's 8.93% return. Over the past 10 years, IGA has underperformed IEDAX with an annualized return of 10.00%, while IEDAX has yielded a comparatively higher 12.43% annualized return.

IGA

• 1D: -0.34%
• 1M: 2.19%
• YTD: 5.15%
• 6M: 6.50%
• 1Y: 9.52%
• 3Y*: 18.86%
• 5Y*: 10.96%
• 10Y*: 10.00%

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%

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

IGA vs. IEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGA Voya Global Advantage and Premium Opportunity Fund	5.15%	18.32%	21.06%	7.55%	-8.33%	28.35%	-8.03%	23.40%	-12.35%	26.19%
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%

Correlation

The correlation between IGA and IEDAX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 21, 2007	0.65

The correlation between IGA and IEDAX has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

Return for Risk

IGA vs. IEDAX — Risk / Return Rank

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

IGA

IGA Risk / Return Rank: 15
IGA Sharpe Ratio Rank: 14
IGA Sortino Ratio Rank: 14
IGA Omega Ratio Rank: 13
IGA Calmar Ratio Rank: 15
IGA Martin Ratio Rank: 17

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

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.

IGA vs. IEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Global Advantage and Premium Opportunity Fund (IGA) and Voya Large Cap Value Fund (IEDAX). 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.

	IGA	IEDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.79	-0.77
Sortino ratio: Return per unit of downside risk	1.53	2.67	-1.13
Omega ratio: Gain probability vs. loss probability	1.18	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	1.37	2.04	-0.67
Martin ratio: Return relative to average drawdown	4.76	7.97	-3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGA vs. IEDAX - Sharpe Ratio Comparison

The current IGA Sharpe Ratio is 1.02, which is lower than the IEDAX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of IGA and IEDAX, 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

	IGA	IEDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.79	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.62	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.67	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.49	-0.15

Drawdowns

IGA vs. IEDAX - Drawdown Comparison

The maximum IGA drawdown since its inception was -57.16%, which is greater than IEDAX's maximum drawdown of -47.31%. Use the drawdown chart below to compare losses from any high point for IGA and IEDAX.

Drawdown Indicators

	IGA	IEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-57.16%	-47.31%	-9.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-10.04%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-22.40%	+11.18%
Max Drawdown (5Y) Largest decline over 5 years	-16.98%	-22.40%	+5.42%
Max Drawdown (10Y) Largest decline over 10 years	-41.68%	-39.36%	-2.32%
Current Drawdown Current decline from peak	-0.34%	0.00%	-0.34%
Average Drawdown Average peak-to-trough decline	-8.06%	-6.49%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.48%	-0.47%

Volatility

IGA vs. IEDAX - Volatility Comparison

The current volatility for Voya Global Advantage and Premium Opportunity Fund (IGA) is 2.36%, while Voya Large Cap Value Fund (IEDAX) has a volatility of 3.22%. This indicates that IGA experiences smaller price fluctuations and is considered to be less risky than IEDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGA	IEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	3.22%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	8.85%	-1.47%
Volatility (1Y) Calculated over the trailing 1-year period	9.37%	11.45%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.94%	17.23%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.28%	18.82%	-2.54%

IGA vs. IEDAX - Expense Ratio Comparison

IGA has a 0.01% expense ratio, which is lower than IEDAX's 1.10% expense ratio.

Dividends

IGA vs. IEDAX - Dividend Comparison

IGA's dividend yield for the trailing twelve months is around 11.29%, more than IEDAX's 7.33% 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%
IGA Voya Global Advantage and Premium Opportunity Fund	11.29%	11.37%	11.38%	9.25%	9.06%	7.60%	9.01%	8.05%	9.78%	7.87%	10.83%	10.72%

Frequently Asked Questions

Can I hold both IGA and IEDAX in my portfolio?

IGA and IEDAX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGA or IEDAX?

IEDAX has higher volatility (3.22%) compared to IGA (2.36%). In terms of maximum drawdown, IGA dropped -57.16% vs IEDAX's -47.31%.

Which has better risk-adjusted returns?

IEDAX currently has the higher Sharpe Ratio (1.79 vs 1.02), 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.