IIBAX vs. BNDX
IIBAX (Voya Intermediate Bond Fund) and BNDX (Vanguard Total International Bond ETF) are both funds - IIBAX is a Intermediate Core-Plus Bond fund managed by Voya, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Over the past 10 years, IIBAX returned 1.74%/yr vs 1.69%/yr for BNDX. A 0.68 correlation means they provide meaningful diversification when combined. IIBAX charges 0.69%/yr vs 0.07%/yr for BNDX.
Performance
IIBAX vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, IIBAX achieves a -0.05% return, which is significantly lower than BNDX's 0.85% return. Both investments have delivered pretty close results over the past 10 years, with IIBAX having a 1.74% annualized return and BNDX not far behind at 1.69%.
IIBAX
- 1D
- -0.11%
- 1M
- 0.02%
- YTD
- -0.05%
- 6M
- 0.21%
- 1Y
- 3.74%
- 3Y*
- 4.37%
- 5Y*
- -0.17%
- 10Y*
- 1.74%
BNDX
- 1D
- 0.58%
- 1M
- 1.01%
- YTD
- 0.85%
- 6M
- 0.99%
- 1Y
- 1.99%
- 3Y*
- 4.13%
- 5Y*
- 0.29%
- 10Y*
- 1.69%
IIBAX vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIBAX Voya Intermediate Bond Fund | -0.05% | 6.42% | 2.65% | 7.04% | -15.11% | -1.79% | 7.75% | 9.57% | -0.59% | 4.48% |
BNDX Vanguard Total International Bond ETF | 0.85% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between IIBAX and BNDX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.68 |
The correlation between IIBAX and BNDX shifts across timeframes, from 0.68 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IIBAX vs. BNDX — Risk / Return Rank
IIBAX
BNDX
IIBAX vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Intermediate Bond Fund (IIBAX) and Vanguard Total International Bond ETF (BNDX). 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.
| IIBAX | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.10 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 0.68 | +0.76 |
| Martin ratioReturn relative to average drawdown | 4.12 | 1.90 | +2.22 |
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Drawdowns
IIBAX vs. BNDX - Drawdown Comparison
The maximum IIBAX drawdown since its inception was -20.34%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for IIBAX and BNDX.
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Drawdown Indicators
| IIBAX | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.34% | -16.23% | -4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.93% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -2.93% | -3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -20.01% | -15.86% | -4.15% |
Max Drawdown (10Y)Largest decline over 10 years | -20.34% | -16.23% | -4.11% |
Current DrawdownCurrent decline from peak | -2.56% | -1.18% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -3.10% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.05% | 0.00% |
Volatility
IIBAX vs. BNDX - Volatility Comparison
Voya Intermediate Bond Fund (IIBAX) and Vanguard Total International Bond ETF (BNDX) have volatilities of 1.53% and 1.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIBAX | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.50% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 2.96% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 3.47% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.00% | 4.89% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.03% | 4.10% | +0.93% |
IIBAX vs. BNDX - Expense Ratio Comparison
IIBAX has a 0.69% expense ratio, which is higher than BNDX's 0.07% expense ratio.
Dividends
IIBAX vs. BNDX - Dividend Comparison
IIBAX's dividend yield for the trailing twelve months is around 3.60%, less than BNDX's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.48% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
IIBAX Voya Intermediate Bond Fund | 3.60% | 3.43% | 4.50% | 4.05% | 1.98% | 2.03% | 4.69% | 3.23% | 2.93% | 2.88% | 2.96% | 2.45% |
Frequently Asked Questions
IIBAX and BNDX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIBAX has higher volatility (1.53%) compared to BNDX (1.50%). In terms of maximum drawdown, IIBAX dropped -20.34% vs BNDX's -16.23%.
IIBAX currently has the higher Sharpe Ratio (1.04 vs 0.58), 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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