IIGIX vs. DFWVX

Last updated Jun 4, 2026

IIGIX (Voya Multi-Manager International Equity Fund) and DFWVX (DFA World ex U.S. Value Portfolio Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, IIGIX returned 7.94%/yr vs 29.51%/yr for DFWVX. Their correlation of 0.91 suggests significant overlap in exposure. IIGIX charges 0.95%/yr vs 0.40%/yr for DFWVX.

Performance

IIGIX vs. DFWVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Multi-Manager International Equity Fund (IIGIX) and DFA World ex U.S. Value Portfolio Fund (DFWVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIGIX achieves a 13.25% return, which is significantly lower than DFWVX's 17.30% return. Over the past 10 years, IIGIX has underperformed DFWVX with an annualized return of 7.94%, while DFWVX has yielded a comparatively higher 29.51% annualized return.

IIGIX

• 1D: 0.54%
• 1M: 6.26%
• YTD: 13.25%
• 6M: 15.38%
• 1Y: 24.86%
• 3Y*: 16.78%
• 5Y*: 5.91%
• 10Y*: 7.94%

DFWVX

• 1D: 0.75%
• 1M: 5.65%
• YTD: 17.30%
• 6M: 20.85%
• 1Y: 41.46%
• 3Y*: 24.46%
• 5Y*: 16.46%
• 10Y*: 29.51%

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

IIGIX vs. DFWVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIGIX Voya Multi-Manager International Equity Fund	13.25%	27.55%	4.31%	14.65%	-21.82%	6.91%	15.46%	23.66%	-15.79%	25.24%
DFWVX DFA World ex U.S. Value Portfolio Fund	17.30%	40.30%	6.66%	17.37%	-6.41%	32.65%	-0.40%	344.89%	-16.69%	28.21%

Correlation

The correlation between IIGIX and DFWVX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012	0.91

The correlation between IIGIX and DFWVX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

IIGIX vs. DFWVX — Risk / Return Rank

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

IIGIX

IIGIX Risk / Return Rank: 44
IIGIX Sharpe Ratio Rank: 44
IIGIX Sortino Ratio Rank: 42
IIGIX Omega Ratio Rank: 43
IIGIX Calmar Ratio Rank: 45
IIGIX Martin Ratio Rank: 46

DFWVX

DFWVX Risk / Return Rank: 88
DFWVX Sharpe Ratio Rank: 94
DFWVX Sortino Ratio Rank: 90
DFWVX Omega Ratio Rank: 88
DFWVX Calmar Ratio Rank: 87
DFWVX Martin Ratio Rank: 84

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.

IIGIX vs. DFWVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager International Equity Fund (IIGIX) and DFA World ex U.S. Value Portfolio Fund (DFWVX). 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.

	IIGIX	DFWVX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	3.26	-1.30
Sortino ratio: Return per unit of downside risk	2.73	4.35	-1.63
Omega ratio: Gain probability vs. loss probability	1.35	1.61	-0.26
Calmar ratio: Return relative to maximum drawdown	2.55	4.20	-1.65
Martin ratio: Return relative to average drawdown	9.55	15.89	-6.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIGIX vs. DFWVX - Sharpe Ratio Comparison

The current IIGIX Sharpe Ratio is 1.96, which is lower than the DFWVX Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of IIGIX and DFWVX, 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

	IIGIX	DFWVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	3.26	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	1.03	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.85	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.72	-0.35

Drawdowns

IIGIX vs. DFWVX - Drawdown Comparison

The maximum IIGIX drawdown since its inception was -37.67%, smaller than the maximum DFWVX drawdown of -41.32%. Use the drawdown chart below to compare losses from any high point for IIGIX and DFWVX.

Drawdown Indicators

	IIGIX	DFWVX	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-41.32%	+3.65%
Max Drawdown (1Y) Largest decline over 1 year	-10.69%	-9.91%	-0.78%
Max Drawdown (3Y) Largest decline over 3 years	-13.21%	-14.11%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-35.88%	-24.59%	-11.29%
Max Drawdown (10Y) Largest decline over 10 years	-37.67%	-41.32%	+3.65%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.97%	-7.08%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.60%	+0.11%

Volatility

IIGIX vs. DFWVX - Volatility Comparison

Voya Multi-Manager International Equity Fund (IIGIX) and DFA World ex U.S. Value Portfolio Fund (DFWVX) have volatilities of 4.02% and 4.18%, 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.

Volatility by Period

	IIGIX	DFWVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	4.18%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.99%	10.52%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.92%	12.77%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	16.06%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.19%	34.91%	-17.72%

IIGIX vs. DFWVX - Expense Ratio Comparison

IIGIX has a 0.95% expense ratio, which is higher than DFWVX's 0.40% expense ratio.

Dividends

IIGIX vs. DFWVX - Dividend Comparison

IIGIX's dividend yield for the trailing twelve months is around 11.08%, more than DFWVX's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFWVX DFA World ex U.S. Value Portfolio Fund	3.37%	3.66%	4.28%	4.30%	3.75%	15.97%	2.43%	110.54%	5.26%	2.70%	2.92%	2.77%
IIGIX Voya Multi-Manager International Equity Fund	11.08%	12.54%	1.82%	1.78%	1.21%	22.96%	4.10%	1.95%	5.88%	2.26%	1.84%	2.30%

Frequently Asked Questions

Can I hold both IIGIX and DFWVX in my portfolio?

IIGIX and DFWVX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IIGIX or DFWVX?

DFWVX has higher volatility (4.18%) compared to IIGIX (4.02%). In terms of maximum drawdown, IIGIX dropped -37.67% vs DFWVX's -41.32%.

Which has better risk-adjusted returns?

DFWVX currently has the higher Sharpe Ratio (3.26 vs 1.96), 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.