IISBX vs. ATLAX

Last updated Aug 1, 2026

IISBX (Voya Short Term Bond Fund) and ATLAX (Atlas U.S. Tactical Income Fund) are both mutual funds - IISBX is a Short-Term Bond fund managed by Voya, while ATLAX is a Diversified Portfolio fund managed by Voya. Over the past 10 years, IISBX returned 1.97%/yr vs -0.33%/yr for ATLAX. Their 0.36 correlation means their historical movements had little consistent relationship. IISBX charges 0.35%/yr vs 1.18%/yr for ATLAX.

Performance

IISBX vs. ATLAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Short Term Bond Fund (IISBX) and Atlas U.S. Tactical Income Fund (ATLAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IISBX achieves a 0.71% return, which is significantly higher than ATLAX's 0.37% return. Over the past 10 years, IISBX has outperformed ATLAX with an annualized return of 1.97%, while ATLAX has yielded a comparatively lower -0.33% annualized return.

IISBX

• 1D: 0.11%
• 1M: -0.22%
• 6M: 0.44%
• YTD: 0.71%
• 1Y: 2.51%
• 3Y*: 4.20%
• 5Y*: 1.69%
• 10Y*: 1.97%
• ALL TIME*: 1.85%

ATLAX

• 1D: -0.13%
• 1M: -1.14%
• 6M: -0.48%
• YTD: 0.37%
• 1Y: 5.86%
• 3Y*: 7.96%
• 5Y*: -0.52%
• 10Y*: -0.33%
• ALL TIME*: 0.23%

*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)
ATLAX Atlas U.S. Tactical Income Fund	$0.00	$0.00	$0.00
IISBX Voya Short Term Bond Fund	$0.00	$0.00	$0.00

IISBX vs. ATLAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IISBX Voya Short Term Bond Fund	0.71%	4.66%	4.88%	4.38%	-5.30%	0.13%	3.66%	4.68%	1.00%	1.54%
ATLAX Atlas U.S. Tactical Income Fund	0.37%	13.62%	4.51%	9.92%	-23.76%	-1.25%	1.46%	4.27%	-8.13%	2.39%

Correlation

The correlation between IISBX and ATLAX is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.58
Correlation (10Y) Provides a long-term view across more market conditions.	0.38
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015	0.36

Over the past year, IISBX and ATLAX have become more correlated (0.62) than their long-term average of 0.36, meaning their price movements have been converging.

Return for Risk

IISBX vs. ATLAX — Risk / Return Rank

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

IISBX

IISBX Risk / Return Rank: 67
IISBX Sharpe Ratio Rank: 56
IISBX Sortino Ratio Rank: 74
IISBX Omega Ratio Rank: 75
IISBX Calmar Ratio Rank: 68
IISBX Martin Ratio Rank: 59

ATLAX

ATLAX Risk / Return Rank: 33
ATLAX Sharpe Ratio Rank: 34
ATLAX Sortino Ratio Rank: 34
ATLAX Omega Ratio Rank: 32
ATLAX Calmar Ratio Rank: 32
ATLAX Martin Ratio Rank: 35

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.

IISBX vs. ATLAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Short Term Bond Fund (IISBX) and Atlas U.S. Tactical Income Fund (ATLAX). 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.

	IISBX	ATLAX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.08	+0.42
Sortino ratio: Return per unit of downside risk	2.59	1.58	+1.01
Omega ratio: Gain probability vs. loss probability	1.34	1.19	+0.15
Calmar ratio: Return relative to maximum drawdown	2.31	1.40	+0.91
Martin ratio: Return relative to average drawdown	8.07	5.21	+2.86

IISBX vs. ATLAX - Sharpe Ratio Comparison

The current IISBX Sharpe Ratio is 1.49, which is higher than the ATLAX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of IISBX and ATLAX, 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

IISBX vs. ATLAX - Drawdown Comparison

The maximum IISBX drawdown since its inception was -8.22%, smaller than the maximum ATLAX drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for IISBX and ATLAX.

Drawdown Indicators

	IISBX	ATLAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.22%	-39.28%	+31.06%
Max Drawdown (1Y) Largest decline over 1 year	-1.38%	-4.66%	+3.28%
Max Drawdown (3Y) Largest decline over 3 years	-1.38%	-10.20%	+8.82%
Max Drawdown (5Y) Largest decline over 5 years	-7.40%	-31.49%	+24.09%
Max Drawdown (10Y) Largest decline over 10 years	-8.22%	-39.28%	+31.06%
Current Drawdown Current decline from peak	-0.22%	-14.17%	+13.95%
Average Drawdown Average peak-to-trough decline	-0.88%	-14.56%	+13.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	1.25%	-0.86%

Volatility

IISBX vs. ATLAX - Volatility Comparison

The current volatility for Voya Short Term Bond Fund (IISBX) is 0.43%, while Atlas U.S. Tactical Income Fund (ATLAX) has a volatility of 1.83%. This indicates that IISBX experiences smaller price fluctuations and is considered to be less risky than ATLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IISBX	ATLAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	1.83%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	1.69%	4.98%	-3.29%
Volatility (1Y) Calculated over the trailing 1-year period	2.13%	6.05%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.47%	9.00%	-6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.25%	16.47%	-14.22%

IISBX vs. ATLAX - Expense Ratio Comparison

IISBX has a 0.35% expense ratio, which is lower than ATLAX's 1.18% expense ratio.

Dividends

IISBX vs. ATLAX - Dividend Comparison

IISBX's dividend yield for the trailing twelve months is around 3.36%, less than ATLAX's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATLAX Atlas U.S. Tactical Income Fund	5.08%	4.68%	5.15%	3.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IISBX Voya Short Term Bond Fund	3.36%	3.46%	4.75%	2.96%	1.61%	1.35%	2.25%	2.40%	2.54%	1.84%	1.90%	1.88%

Frequently Asked Questions

Can I hold both IISBX and ATLAX in my portfolio?

IISBX and ATLAX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IISBX or ATLAX?

ATLAX has higher volatility (1.83%) compared to IISBX (0.43%). In terms of maximum drawdown, IISBX dropped -8.22% vs ATLAX's -39.28%.

Which has better risk-adjusted returns?

IISBX currently has the higher Sharpe Ratio (1.49 vs 1.08), 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.