IGHAX vs. NALFX

Last updated Aug 5, 2026

IGHAX (Voya Global High Dividend Low Volatility Portfolio) and NALFX (New Alternatives Fund) are both Global Equities funds. Over the past 10 years, IGHAX returned 9.30%/yr vs 9.60%/yr for NALFX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. IGHAX charges 1.10%/yr vs 0.89%/yr for NALFX.

Performance

IGHAX vs. NALFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Global High Dividend Low Volatility Portfolio (IGHAX) and New Alternatives Fund (NALFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGHAX achieves a 12.91% return, which is significantly lower than NALFX's 13.92% return. Both investments have delivered pretty close results over the past 10 years, with IGHAX having a 9.30% annualized return and NALFX not far ahead at 9.60%.

IGHAX

• 1D: 0.69%
• 1M: 4.86%
• 6M: 9.10%
• YTD: 12.91%
• 1Y: 18.36%
• 3Y*: 15.57%
• 5Y*: 9.17%
• 10Y*: 9.30%
• ALL TIME*: 5.51%

NALFX

• 1D: 0.60%
• 1M: -2.26%
• 6M: 7.37%
• YTD: 13.92%
• 1Y: 21.15%
• 3Y*: 11.06%
• 5Y*: 1.65%
• 10Y*: 9.60%
• ALL TIME*: 7.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IGHAX Voya Global High Dividend Low Volatility Portfolio	$0.00	$0.00	$0.00
NALFX New Alternatives Fund	$0.00	$0.00	$0.00

IGHAX vs. NALFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGHAX Voya Global High Dividend Low Volatility Portfolio	12.91%	18.30%	10.40%	6.16%	-5.34%	20.25%	-1.30%	20.96%	-9.26%	23.11%
NALFX New Alternatives Fund	13.92%	28.13%	-6.03%	-2.49%	-15.87%	-4.78%	61.74%	36.98%	-6.91%	21.24%

Correlation

The correlation between IGHAX and NALFX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.61
Correlation (All Time) Calculated using the full available price history since Jan 30, 2008	0.72

Over the past year, the correlation between IGHAX and NALFX has dropped to 0.36 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

IGHAX vs. NALFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IGHAX

IGHAX Risk / Return Rank: 85
IGHAX Sharpe Ratio Rank: 87
IGHAX Sortino Ratio Rank: 88
IGHAX Omega Ratio Rank: 84
IGHAX Calmar Ratio Rank: 83
IGHAX Martin Ratio Rank: 82

NALFX

NALFX Risk / Return Rank: 53
NALFX Sharpe Ratio Rank: 45
NALFX Sortino Ratio Rank: 41
NALFX Omega Ratio Rank: 40
NALFX Calmar Ratio Rank: 82
NALFX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IGHAX vs. NALFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Global High Dividend Low Volatility Portfolio (IGHAX) and New Alternatives Fund (NALFX). 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.

	IGHAX	NALFX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.43	+0.81
Sortino ratio: Return per unit of downside risk	3.28	1.99	+1.30
Omega ratio: Gain probability vs. loss probability	1.42	1.25	+0.17
Calmar ratio: Return relative to maximum drawdown	3.11	2.93	+0.18
Martin ratio: Return relative to average drawdown	11.62	8.30	+3.31

IGHAX vs. NALFX - Sharpe Ratio Comparison

The current IGHAX Sharpe Ratio is 2.24, which is higher than the NALFX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of IGHAX and NALFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IGHAX vs. NALFX - Drawdown Comparison

The maximum IGHAX drawdown since its inception was -59.27%, roughly equal to the maximum NALFX drawdown of -59.67%. Use the drawdown chart below to compare losses from any high point for IGHAX and NALFX.

Drawdown Indicators

	IGHAX	NALFX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-59.67%	+0.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-7.53%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-9.75%	-18.99%	+9.24%
Max Drawdown (5Y) Largest decline over 5 years	-17.36%	-38.03%	+20.67%
Max Drawdown (10Y) Largest decline over 10 years	-35.05%	-42.35%	+7.30%
Current Drawdown Current decline from peak	0.00%	-4.46%	+4.46%
Average Drawdown Average peak-to-trough decline	-9.95%	-14.79%	+4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	2.65%	-0.89%

Volatility

IGHAX vs. NALFX - Volatility Comparison

The current volatility for Voya Global High Dividend Low Volatility Portfolio (IGHAX) is 2.33%, while New Alternatives Fund (NALFX) has a volatility of 4.10%. This indicates that IGHAX experiences smaller price fluctuations and is considered to be less risky than NALFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGHAX	NALFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	4.10%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	12.83%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	9.34%	15.44%	-6.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.40%	17.90%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	17.99%	-3.42%

IGHAX vs. NALFX - Expense Ratio Comparison

IGHAX has a 1.10% expense ratio, which is higher than NALFX's 0.89% expense ratio.

Dividends

IGHAX vs. NALFX - Dividend Comparison

IGHAX's dividend yield for the trailing twelve months is around 8.67%, more than NALFX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGHAX Voya Global High Dividend Low Volatility Portfolio	8.67%	14.04%	3.97%	5.81%	5.72%	1.94%	1.86%	7.01%	4.26%	1.69%	2.23%	0.00%
NALFX New Alternatives Fund	1.02%	1.17%	2.04%	4.47%	4.63%	5.14%	4.93%	5.55%	6.62%	4.16%	3.71%	1.71%

Frequently Asked Questions

Can I hold both IGHAX and NALFX in my portfolio?

IGHAX and NALFX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGHAX or NALFX?

NALFX has higher volatility (4.10%) compared to IGHAX (2.33%). In terms of maximum drawdown, IGHAX dropped -59.27% vs NALFX's -59.67%.

Which has better risk-adjusted returns?

IGHAX currently has the higher Sharpe Ratio (2.24 vs 1.43), 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.