IHYAX vs. OSTIX
IHYAX (Voya High Yield Bond Fund) and OSTIX (Osterweis Strategic Income Fund) are both High Yield Bonds funds. Over the past 10 years, IHYAX returned 4.14%/yr vs 5.08%/yr for OSTIX. A 0.56 correlation means they provide meaningful diversification when combined. IHYAX charges 1.04%/yr vs 0.84%/yr for OSTIX.
Performance
IHYAX vs. OSTIX - Performance Comparison
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Returns By Period
In the year-to-date period, IHYAX achieves a 1.02% return, which is significantly lower than OSTIX's 1.77% return. Over the past 10 years, IHYAX has underperformed OSTIX with an annualized return of 4.14%, while OSTIX has yielded a comparatively higher 5.08% annualized return.
IHYAX
- 1D
- 0.00%
- 1M
- 0.88%
- YTD
- 1.02%
- 6M
- 1.61%
- 1Y
- 4.70%
- 3Y*
- 6.65%
- 5Y*
- 2.30%
- 10Y*
- 4.14%
OSTIX
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.77%
- 6M
- 1.91%
- 1Y
- 4.75%
- 3Y*
- 6.91%
- 5Y*
- 4.27%
- 10Y*
- 5.08%
IHYAX vs. OSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHYAX Voya High Yield Bond Fund | 1.02% | 6.99% | 6.45% | 10.63% | -13.95% | 3.71% | 5.54% | 14.51% | -3.38% | 5.85% |
OSTIX Osterweis Strategic Income Fund | 1.77% | 4.04% | 8.03% | 12.29% | -5.94% | 5.48% | 9.01% | 5.36% | -0.66% | 6.00% |
Correlation
The correlation between IHYAX and OSTIX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2002 | 0.56 |
The correlation between IHYAX and OSTIX shifts across timeframes, from 0.56 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IHYAX vs. OSTIX — Risk / Return Rank
IHYAX
OSTIX
IHYAX vs. OSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya High Yield Bond Fund (IHYAX) and Osterweis Strategic Income Fund (OSTIX). 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.
| IHYAX | OSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.68 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.43 | -1.40 |
| Martin ratioReturn relative to average drawdown | 9.45 | 15.51 | -6.06 |
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Drawdowns
IHYAX vs. OSTIX - Drawdown Comparison
The maximum IHYAX drawdown since its inception was -38.22%, which is greater than OSTIX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for IHYAX and OSTIX.
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Drawdown Indicators
| IHYAX | OSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.22% | -10.06% | -28.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -1.42% | -1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.90% | -3.27% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -17.14% | -9.75% | -7.39% |
Max Drawdown (10Y)Largest decline over 10 years | -20.25% | -10.06% | -10.19% |
Current DrawdownCurrent decline from peak | -0.29% | -0.09% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -2.93% | -0.94% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.31% | +0.23% |
Volatility
IHYAX vs. OSTIX - Volatility Comparison
Voya High Yield Bond Fund (IHYAX) has a higher volatility of 1.10% compared to Osterweis Strategic Income Fund (OSTIX) at 0.46%. This indicates that IHYAX's price experiences larger fluctuations and is considered to be riskier than OSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHYAX | OSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.46% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 1.36% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 1.70% | +1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 3.01% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.47% | 2.96% | +2.51% |
IHYAX vs. OSTIX - Expense Ratio Comparison
IHYAX has a 1.04% expense ratio, which is higher than OSTIX's 0.84% expense ratio.
Dividends
IHYAX vs. OSTIX - Dividend Comparison
IHYAX's dividend yield for the trailing twelve months is around 4.59%, less than OSTIX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHYAX Voya High Yield Bond Fund | 4.59% | 4.98% | 5.93% | 4.91% | 5.38% | 4.01% | 5.00% | 5.17% | 5.63% | 5.21% | 5.14% | 5.54% |
OSTIX Osterweis Strategic Income Fund | 4.74% | 3.96% | 5.25% | 5.72% | 4.72% | 4.03% | 3.85% | 4.74% | 4.66% | 4.58% | 5.23% | 5.98% |
Frequently Asked Questions
IHYAX and OSTIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHYAX has higher volatility (1.10%) compared to OSTIX (0.46%). In terms of maximum drawdown, IHYAX dropped -38.22% vs OSTIX's -10.06%.
OSTIX currently has the higher Sharpe Ratio (2.87 vs 1.47), 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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