IISBX vs. IEDAX

Last updated Jun 23, 2026

IISBX (Voya Short Term Bond Fund) and IEDAX (Voya Large Cap Value Fund) are both mutual funds - IISBX is a Short-Term Bond fund managed by Voya, while IEDAX is a Large Cap Value Equities fund managed by Voya. Over the past 10 years, IISBX returned 2.00%/yr vs 12.63%/yr for IEDAX. At a 0.03 correlation, their price movements are largely independent. IISBX charges 0.35%/yr vs 1.10%/yr for IEDAX.

Performance

IISBX vs. IEDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Short Term Bond Fund (IISBX) 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, IISBX achieves a 0.45% return, which is significantly lower than IEDAX's 10.50% return. Over the past 10 years, IISBX has underperformed IEDAX with an annualized return of 2.00%, while IEDAX has yielded a comparatively higher 12.63% annualized return.

IISBX

• 1D: 0.11%
• 1M: 0.27%
• YTD: 0.45%
• 6M: 0.94%
• 1Y: 3.19%
• 3Y*: 4.33%
• 5Y*: 1.70%
• 10Y*: 2.00%

IEDAX

• 1D: 0.87%
• 1M: 4.01%
• YTD: 10.50%
• 6M: 9.74%
• 1Y: 19.33%
• 3Y*: 16.35%
• 5Y*: 11.76%
• 10Y*: 12.63%

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

IISBX vs. IEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IISBX Voya Short Term Bond Fund	0.45%	4.66%	4.88%	4.38%	-5.30%	0.13%	3.66%	4.68%	1.00%	1.54%
IEDAX Voya Large Cap Value Fund	10.50%	12.42%	16.47%	13.26%	-3.86%	26.38%	5.53%	35.63%	-8.29%	13.36%

Correlation

The correlation between IISBX and IEDAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.03

Over the past year, IISBX and IEDAX have become more correlated (0.35) than their long-term average of 0.03, meaning their price movements have been converging.

Return for Risk

IISBX vs. IEDAX — Risk / Return Rank

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

IISBX

IISBX Risk / Return Rank: 48
IISBX Sharpe Ratio Rank: 36
IISBX Sortino Ratio Rank: 55
IISBX Omega Ratio Rank: 54
IISBX Calmar Ratio Rank: 49
IISBX Martin Ratio Rank: 46

IEDAX

IEDAX Risk / Return Rank: 41
IEDAX Sharpe Ratio Rank: 43
IEDAX Sortino Ratio Rank: 46
IEDAX Omega Ratio Rank: 41
IEDAX Calmar Ratio Rank: 35
IEDAX Martin Ratio Rank: 41

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.

IISBX vs. IEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Short Term Bond Fund (IISBX) 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.

	IISBX	IEDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.78	-0.17
Sortino ratio: Return per unit of downside risk	2.84	2.63	+0.21
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	2.56	2.13	+0.43
Martin ratio: Return relative to average drawdown	9.06	8.31	+0.75

IISBX vs. IEDAX - Sharpe Ratio Comparison

The current IISBX Sharpe Ratio is 1.61, which is comparable to the IEDAX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of IISBX 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

IISBX vs. IEDAX - Drawdown Comparison

The maximum IISBX drawdown since its inception was -8.22%, smaller than the maximum IEDAX drawdown of -47.31%. Use the drawdown chart below to compare losses from any high point for IISBX and IEDAX.

Drawdown Indicators

	IISBX	IEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.22%	-47.31%	+39.09%
Max Drawdown (1Y) Largest decline over 1 year	-1.38%	-10.04%	+8.66%
Max Drawdown (3Y) Largest decline over 3 years	-1.38%	-22.40%	+21.02%
Max Drawdown (5Y) Largest decline over 5 years	-7.40%	-22.40%	+15.00%
Max Drawdown (10Y) Largest decline over 10 years	-8.22%	-39.36%	+31.14%
Current Drawdown Current decline from peak	-0.48%	-0.55%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.89%	-6.48%	+5.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	2.49%	-2.12%

Volatility

IISBX vs. IEDAX - Volatility Comparison

The current volatility for Voya Short Term Bond Fund (IISBX) is 0.80%, while Voya Large Cap Value Fund (IEDAX) has a volatility of 4.34%. This indicates that IISBX 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

	IISBX	IEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	4.34%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	9.44%	-7.77%
Volatility (1Y) Calculated over the trailing 1-year period	2.19%	12.04%	-9.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.46%	17.27%	-14.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.25%	18.85%	-16.60%

IISBX vs. IEDAX - Expense Ratio Comparison

IISBX has a 0.35% expense ratio, which is lower than IEDAX's 1.10% expense ratio.

Dividends

IISBX vs. IEDAX - Dividend Comparison

IISBX's dividend yield for the trailing twelve months is around 3.81%, less than IEDAX's 7.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEDAX Voya Large Cap Value Fund	7.23%	8.03%	15.43%	10.92%	8.06%	16.02%	9.13%	17.61%	11.75%	11.03%	1.89%	8.59%
IISBX Voya Short Term Bond Fund	3.81%	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 IEDAX in my portfolio?

IISBX and IEDAX have a correlation of 0.35, 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 IEDAX?

IEDAX has higher volatility (4.34%) compared to IISBX (0.80%). In terms of maximum drawdown, IISBX dropped -8.22% vs IEDAX's -47.31%.

Which has better risk-adjusted returns?

IEDAX currently has the higher Sharpe Ratio (1.78 vs 1.61), 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.