IGBIX vs. IPHYX
IGBIX (Voya Global Bond Fund) and IPHYX (Voya High Yield Portfolio) are both mutual funds - IGBIX is a Global Bonds fund managed by Voya, while IPHYX is a High Yield Bonds fund managed by Voya. Over the past 10 years, IGBIX returned 0.51%/yr vs 4.20%/yr for IPHYX. At a 0.30 correlation, their price movements are largely independent. IGBIX charges 0.65%/yr vs 0.73%/yr for IPHYX.
Performance
IGBIX vs. IPHYX - Performance Comparison
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Returns By Period
In the year-to-date period, IGBIX achieves a -1.75% return, which is significantly lower than IPHYX's 1.17% return. Over the past 10 years, IGBIX has underperformed IPHYX with an annualized return of 0.51%, while IPHYX has yielded a comparatively higher 4.20% annualized return.
IGBIX
- 1D
- 0.43%
- 1M
- -1.03%
- 6M
- -1.48%
- YTD
- -1.75%
- 1Y
- -0.21%
- 3Y*
- 2.34%
- 5Y*
- -2.42%
- 10Y*
- 0.51%
IPHYX
- 1D
- 0.00%
- 1M
- -0.23%
- 6M
- 1.06%
- YTD
- 1.17%
- 1Y
- 4.44%
- 3Y*
- 6.65%
- 5Y*
- 2.43%
- 10Y*
- 4.20%
IGBIX vs. IPHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGBIX Voya Global Bond Fund | -1.75% | 7.51% | -1.07% | 6.05% | -18.48% | -5.58% | 10.12% | 7.59% | -1.89% | 9.66% |
IPHYX Voya High Yield Portfolio | 1.17% | 6.80% | 6.74% | 11.47% | -13.75% | 4.15% | 5.66% | 15.24% | -3.18% | 6.24% |
Correlation
The correlation between IGBIX and IPHYX is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2006 | 0.30 |
Over the past year, IGBIX and IPHYX have become more correlated (0.66) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
IGBIX vs. IPHYX — Risk / Return Rank
IGBIX
IPHYX
IGBIX vs. IPHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Global Bond Fund (IGBIX) and Voya High Yield Portfolio (IPHYX). 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.
| IGBIX | IPHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 1.80 | -1.93 |
| Martin ratioReturn relative to average drawdown | -0.31 | 8.51 | -8.82 |
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Drawdowns
IGBIX vs. IPHYX - Drawdown Comparison
The maximum IGBIX drawdown since its inception was -28.58%, smaller than the maximum IPHYX drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for IGBIX and IPHYX.
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Drawdown Indicators
| IGBIX | IPHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.58% | -32.43% | +3.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.27% | -2.62% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -3.81% | -3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -26.46% | -17.18% | -9.28% |
Max Drawdown (10Y)Largest decline over 10 years | -28.58% | -20.45% | -8.13% |
Current DrawdownCurrent decline from peak | -14.94% | -0.46% | -14.48% |
Average DrawdownAverage peak-to-trough decline | -6.04% | -2.78% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.54% | +1.61% |
Volatility
IGBIX vs. IPHYX - Volatility Comparison
Voya Global Bond Fund (IGBIX) has a higher volatility of 1.62% compared to Voya High Yield Portfolio (IPHYX) at 0.83%. This indicates that IGBIX's price experiences larger fluctuations and is considered to be riskier than IPHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGBIX | IPHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 0.83% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 2.81% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 3.50% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 5.22% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.98% | 5.48% | +0.50% |
IGBIX vs. IPHYX - Expense Ratio Comparison
IGBIX has a 0.65% expense ratio, which is lower than IPHYX's 0.73% expense ratio.
Dividends
IGBIX vs. IPHYX - Dividend Comparison
IGBIX's dividend yield for the trailing twelve months is around 3.96%, less than IPHYX's 4.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBIX Voya Global Bond Fund | 3.96% | 3.44% | 4.58% | 3.35% | 3.31% | 4.04% | 4.43% | 4.66% | 4.75% | 4.84% | 4.69% | 4.72% |
IPHYX Voya High Yield Portfolio | 4.71% | 4.47% | 5.90% | 5.68% | 4.36% | 4.26% | 5.03% | 5.14% | 6.03% | 6.82% | 6.44% | 6.32% |
Frequently Asked Questions
IGBIX and IPHYX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGBIX has higher volatility (1.62%) compared to IPHYX (0.83%). In terms of maximum drawdown, IGBIX dropped -28.58% vs IPHYX's -32.43%.
IPHYX currently has the higher Sharpe Ratio (1.35 vs -0.11), 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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