IIRMX vs. IEDAX

Last updated Aug 1, 2026

IIRMX (Voya Russell Mid Cap Index Portfolio) and IEDAX (Voya Large Cap Value Fund) are both mutual funds - IIRMX is a Mid Cap Blend Equities fund managed by Voya, while IEDAX is a Large Cap Value Equities fund managed by Voya. Over the past 10 years, IIRMX returned 11.37%/yr vs 12.41%/yr for IEDAX. Their correlation of 0.91 means they have usually moved in the same direction. IIRMX charges 0.40%/yr vs 1.10%/yr for IEDAX.

Performance

IIRMX vs. IEDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Russell Mid Cap Index Portfolio (IIRMX) and Voya Large Cap Value Fund (IEDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIRMX achieves a 19.08% return, which is significantly higher than IEDAX's 11.24% return. Over the past 10 years, IIRMX has underperformed IEDAX with an annualized return of 11.37%, while IEDAX has yielded a comparatively higher 12.41% annualized return.

IIRMX

• 1D: 0.33%
• 1M: -0.44%
• 6M: 15.62%
• YTD: 19.08%
• 1Y: 23.10%
• 3Y*: 15.96%
• 5Y*: 8.71%
• 10Y*: 11.37%
• ALL TIME*: 10.43%

IEDAX

• 1D: 1.03%
• 1M: -0.16%
• 6M: 8.42%
• YTD: 11.24%
• 1Y: 18.06%
• 3Y*: 14.96%
• 5Y*: 11.28%
• 10Y*: 12.41%
• ALL TIME*: 9.78%

*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)
IEDAX Voya Large Cap Value Fund	$0.00	$0.00	$0.00
IIRMX Voya Russell Mid Cap Index Portfolio	$0.00	$0.00	$0.00

IIRMX vs. IEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IIRMX Voya Russell Mid Cap Index Portfolio	19.08%	10.40%	14.78%	16.74%	-17.55%	21.79%	16.04%	29.16%	-9.30%	18.05%
IEDAX Voya Large Cap Value Fund	11.24%	12.42%	16.47%	13.26%	-3.86%	26.38%	5.53%	35.63%	-8.29%	13.36%

Correlation

The correlation between IIRMX and IEDAX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Mar 11, 2008	0.91

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

Return for Risk

IIRMX vs. IEDAX — Risk / Return Rank

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

IIRMX

IIRMX Risk / Return Rank: 58
IIRMX Sharpe Ratio Rank: 33
IIRMX Sortino Ratio Rank: 40
IIRMX Omega Ratio Rank: 60
IIRMX Calmar Ratio Rank: 76
IIRMX Martin Ratio Rank: 85

IEDAX

IEDAX Risk / Return Rank: 57
IEDAX Sharpe Ratio Rank: 62
IEDAX Sortino Ratio Rank: 64
IEDAX Omega Ratio Rank: 59
IEDAX Calmar Ratio Rank: 49
IEDAX Martin Ratio Rank: 53

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.

IIRMX vs. IEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Russell Mid Cap Index Portfolio (IIRMX) and Voya Large Cap Value Fund (IEDAX). 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.

	IIRMX	IEDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.48	-0.39
Sortino ratio: Return per unit of downside risk	1.80	2.21	-0.41
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.53	1.82	+0.71
Martin ratio: Return relative to average drawdown	10.96	7.13	+3.83

IIRMX vs. IEDAX - Sharpe Ratio Comparison

The current IIRMX Sharpe Ratio is 1.09, which is comparable to the IEDAX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of IIRMX and IEDAX, 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

IIRMX vs. IEDAX - Drawdown Comparison

The maximum IIRMX drawdown since its inception was -56.44%, which is greater than IEDAX's maximum drawdown of -47.31%. Use the drawdown chart below to compare losses from any high point for IIRMX and IEDAX.

Drawdown Indicators

	IIRMX	IEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.44%	-47.31%	-9.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-10.04%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-21.18%	-22.40%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-22.40%	-3.86%
Max Drawdown (10Y) Largest decline over 10 years	-40.41%	-39.36%	-1.05%
Current Drawdown Current decline from peak	-0.66%	-0.55%	-0.11%
Average Drawdown Average peak-to-trough decline	-7.82%	-6.44%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.49%	-0.33%

Volatility

IIRMX vs. IEDAX - Volatility Comparison

The current volatility for Voya Russell Mid Cap Index Portfolio (IIRMX) is 2.49%, while Voya Large Cap Value Fund (IEDAX) has a volatility of 3.00%. This indicates that IIRMX experiences smaller price fluctuations and is considered to be less risky than IEDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIRMX	IEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	3.00%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	19.37%	9.59%	+9.78%
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	12.35%	+9.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	17.18%	+3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.34%	18.80%	+1.54%

IIRMX vs. IEDAX - Expense Ratio Comparison

IIRMX has a 0.40% expense ratio, which is lower than IEDAX's 1.10% expense ratio.

Dividends

IIRMX vs. IEDAX - Dividend Comparison

IIRMX's dividend yield for the trailing twelve months is around 37.05%, more than IEDAX's 7.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEDAX Voya Large Cap Value Fund	7.14%	8.03%	15.43%	10.92%	8.06%	16.02%	9.13%	17.61%	11.75%	11.03%	1.89%	8.59%
IIRMX Voya Russell Mid Cap Index Portfolio	37.05%	13.19%	10.43%	11.78%	10.34%	10.34%	14.22%	20.78%	15.64%	8.09%	14.11%	10.13%

Frequently Asked Questions

Can I hold both IIRMX and IEDAX in my portfolio?

With a correlation of 0.90, IIRMX and IEDAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IIRMX or IEDAX?

IEDAX has higher volatility (3.00%) compared to IIRMX (2.49%). In terms of maximum drawdown, IIRMX dropped -56.44% vs IEDAX's -47.31%.

Which has better risk-adjusted returns?

IEDAX currently has the higher Sharpe Ratio (1.48 vs 1.09), 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.