IIBAX vs. IRGMX

Last updated Jun 5, 2026

IIBAX (Voya Intermediate Bond Fund) and IRGMX (Voya Retirement Moderate Growth Portfolio) are both mutual funds - IIBAX is a Intermediate Core-Plus Bond fund managed by Voya, while IRGMX is a Diversified Portfolio fund managed by Voya. Over the past 10 years, IIBAX returned 1.81%/yr vs 8.77%/yr for IRGMX. At a 0.03 correlation, their price movements are largely independent. IIBAX charges 0.69%/yr vs 0.26%/yr for IRGMX.

Performance

IIBAX vs. IRGMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Intermediate Bond Fund (IIBAX) and Voya Retirement Moderate Growth Portfolio (IRGMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIBAX achieves a 0.30% return, which is significantly lower than IRGMX's 7.52% return. Over the past 10 years, IIBAX has underperformed IRGMX with an annualized return of 1.81%, while IRGMX has yielded a comparatively higher 8.77% annualized return.

IIBAX

• 1D: -0.23%
• 1M: 0.14%
• YTD: 0.30%
• 6M: 0.33%
• 1Y: 3.98%
• 3Y*: 4.45%
• 5Y*: -0.02%
• 10Y*: 1.81%

IRGMX

• 1D: -0.47%
• 1M: 2.72%
• YTD: 7.52%
• 6M: 7.63%
• 1Y: 18.74%
• 3Y*: 14.45%
• 5Y*: 7.50%
• 10Y*: 8.77%

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

IIBAX vs. IRGMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIBAX Voya Intermediate Bond Fund	0.30%	6.42%	2.65%	7.04%	-15.11%	-1.79%	7.75%	9.57%	-0.59%	4.48%
IRGMX Voya Retirement Moderate Growth Portfolio	7.52%	14.26%	12.89%	15.88%	-16.04%	14.38%	13.54%	20.44%	-8.06%	15.10%

Correlation

The correlation between IIBAX and IRGMX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Nov 10, 2009	0.03

Over the past year, IIBAX and IRGMX have become more correlated (0.34) than their long-term average of 0.03, meaning their price movements have been converging.

Return for Risk

IIBAX vs. IRGMX — Risk / Return Rank

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

IIBAX

IIBAX Risk / Return Rank: 17
IIBAX Sharpe Ratio Rank: 16
IIBAX Sortino Ratio Rank: 16
IIBAX Omega Ratio Rank: 15
IIBAX Calmar Ratio Rank: 19
IIBAX Martin Ratio Rank: 17

IRGMX

IRGMX Risk / Return Rank: 78
IRGMX Sharpe Ratio Rank: 77
IRGMX Sortino Ratio Rank: 78
IRGMX Omega Ratio Rank: 73
IRGMX Calmar Ratio Rank: 75
IRGMX Martin Ratio Rank: 87

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.

IIBAX vs. IRGMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Intermediate Bond Fund (IIBAX) and Voya Retirement Moderate Growth Portfolio (IRGMX). 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.

	IIBAX	IRGMX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.52	-1.40
Sortino ratio: Return per unit of downside risk	1.66	3.68	-2.02
Omega ratio: Gain probability vs. loss probability	1.20	1.47	-0.27
Calmar ratio: Return relative to maximum drawdown	1.57	3.29	-1.72
Martin ratio: Return relative to average drawdown	4.61	16.18	-11.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIBAX vs. IRGMX - Sharpe Ratio Comparison

The current IIBAX Sharpe Ratio is 1.12, which is lower than the IRGMX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IIBAX and IRGMX, 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

	IIBAX	IRGMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.12	2.52	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	0.70	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.78	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.76	+0.15

Drawdowns

IIBAX vs. IRGMX - Drawdown Comparison

The maximum IIBAX drawdown since its inception was -20.34%, smaller than the maximum IRGMX drawdown of -23.38%. Use the drawdown chart below to compare losses from any high point for IIBAX and IRGMX.

Drawdown Indicators

	IIBAX	IRGMX	Difference
Max Drawdown Largest peak-to-trough decline	-20.34%	-23.38%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.10%	-6.35%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-11.12%	+5.00%
Max Drawdown (5Y) Largest decline over 5 years	-20.01%	-21.53%	+1.52%
Max Drawdown (10Y) Largest decline over 10 years	-20.34%	-23.38%	+3.04%
Current Drawdown Current decline from peak	-2.22%	-0.47%	-1.75%
Average Drawdown Average peak-to-trough decline	-2.88%	-3.39%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.25%	-0.21%

Volatility

IIBAX vs. IRGMX - Volatility Comparison

The current volatility for Voya Intermediate Bond Fund (IIBAX) is 1.59%, while Voya Retirement Moderate Growth Portfolio (IRGMX) has a volatility of 2.39%. This indicates that IIBAX experiences smaller price fluctuations and is considered to be less risky than IRGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIBAX	IRGMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	2.39%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	6.69%	-3.57%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	8.29%	-3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	10.91%	-4.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	11.31%	-6.28%

IIBAX vs. IRGMX - Expense Ratio Comparison

IIBAX has a 0.69% expense ratio, which is higher than IRGMX's 0.26% expense ratio.

Dividends

IIBAX vs. IRGMX - Dividend Comparison

IIBAX's dividend yield for the trailing twelve months is around 3.59%, less than IRGMX's 21.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIBAX Voya Intermediate Bond Fund	3.59%	3.43%	4.50%	4.05%	1.98%	2.03%	4.69%	3.23%	2.93%	2.88%	2.96%	2.45%
IRGMX Voya Retirement Moderate Growth Portfolio	21.38%	22.99%	7.83%	9.72%	17.03%	6.44%	6.69%	8.86%	8.13%	9.42%	11.83%	5.09%

Frequently Asked Questions

Can I hold both IIBAX and IRGMX in my portfolio?

IIBAX and IRGMX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IIBAX or IRGMX?

IRGMX has higher volatility (2.39%) compared to IIBAX (1.59%). In terms of maximum drawdown, IIBAX dropped -20.34% vs IRGMX's -23.38%.

Which has better risk-adjusted returns?

IRGMX currently has the higher Sharpe Ratio (2.52 vs 1.12), 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.