IISIX vs. BGCIX

Last updated Jun 4, 2026

IISIX (Voya Strategic Income Opportunities Fund) and BGCIX (BlackRock Global Long/Short Credit Fund) are both Nontraditional Bonds funds. Over the past 10 years, IISIX returned 3.40%/yr vs 4.22%/yr for BGCIX. At a 0.33 correlation, their price movements are largely independent. IISIX charges 0.61%/yr vs 1.12%/yr for BGCIX.

Performance

IISIX vs. BGCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Strategic Income Opportunities Fund (IISIX) and BlackRock Global Long/Short Credit Fund (BGCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IISIX achieves a 0.89% return, which is significantly lower than BGCIX's 1.33% return. Over the past 10 years, IISIX has underperformed BGCIX with an annualized return of 3.40%, while BGCIX has yielded a comparatively higher 4.22% annualized return.

IISIX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 0.89%
• 6M: 1.20%
• 1Y: 4.18%
• 3Y*: 5.99%
• 5Y*: 2.21%
• 10Y*: 3.40%

BGCIX

• 1D: 0.00%
• 1M: 0.77%
• YTD: 1.33%
• 6M: 1.74%
• 1Y: 4.81%
• 3Y*: 7.26%
• 5Y*: 3.27%
• 10Y*: 4.22%

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

IISIX vs. BGCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IISIX Voya Strategic Income Opportunities Fund	0.89%	5.94%	6.78%	6.69%	-8.19%	1.54%	1.46%	8.47%	1.65%	5.87%
BGCIX BlackRock Global Long/Short Credit Fund	1.33%	6.55%	8.47%	8.87%	-8.02%	3.48%	10.71%	7.43%	-1.78%	3.46%

Correlation

The correlation between IISIX and BGCIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.33

Return for Risk

IISIX vs. BGCIX — Risk / Return Rank

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

IISIX

IISIX Risk / Return Rank: 39
IISIX Sharpe Ratio Rank: 28
IISIX Sortino Ratio Rank: 34
IISIX Omega Ratio Rank: 45
IISIX Calmar Ratio Rank: 41
IISIX Martin Ratio Rank: 49

BGCIX

BGCIX Risk / Return Rank: 95
BGCIX Sharpe Ratio Rank: 96
BGCIX Sortino Ratio Rank: 98
BGCIX Omega Ratio Rank: 97
BGCIX Calmar Ratio Rank: 91
BGCIX Martin Ratio Rank: 93

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.

IISIX vs. BGCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Strategic Income Opportunities Fund (IISIX) and BlackRock Global Long/Short Credit Fund (BGCIX). 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.

	IISIX	BGCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	3.56	-2.03
Sortino ratio: Return per unit of downside risk	2.43	6.18	-3.75
Omega ratio: Gain probability vs. loss probability	1.37	1.99	-0.63
Calmar ratio: Return relative to maximum drawdown	2.43	4.88	-2.45
Martin ratio: Return relative to average drawdown	9.98	20.54	-10.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IISIX vs. BGCIX - Sharpe Ratio Comparison

The current IISIX Sharpe Ratio is 1.53, which is lower than the BGCIX Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of IISIX and BGCIX, 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

	IISIX	BGCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	3.56	-2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.73	-0.96
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.01	1.34	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.35	-0.30

Drawdowns

IISIX vs. BGCIX - Drawdown Comparison

The maximum IISIX drawdown since its inception was -17.64%, which is greater than BGCIX's maximum drawdown of -10.37%. Use the drawdown chart below to compare losses from any high point for IISIX and BGCIX.

Drawdown Indicators

	IISIX	BGCIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.64%	-10.37%	-7.27%
Max Drawdown (1Y) Largest decline over 1 year	-1.91%	-0.99%	-0.92%
Max Drawdown (3Y) Largest decline over 3 years	-2.22%	-2.18%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-9.54%	-9.78%	+0.24%
Max Drawdown (10Y) Largest decline over 10 years	-17.64%	-10.37%	-7.27%
Current Drawdown Current decline from peak	-0.14%	0.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.58%	-1.27%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.23%	+0.21%

Volatility

IISIX vs. BGCIX - Volatility Comparison

Voya Strategic Income Opportunities Fund (IISIX) has a higher volatility of 1.80% compared to BlackRock Global Long/Short Credit Fund (BGCIX) at 0.39%. This indicates that IISIX's price experiences larger fluctuations and is considered to be riskier than BGCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IISIX	BGCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	0.39%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	0.97%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	3.05%	1.36%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	1.90%	+1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.42%	3.15%	+0.27%

IISIX vs. BGCIX - Expense Ratio Comparison

IISIX has a 0.61% expense ratio, which is lower than BGCIX's 1.12% expense ratio.

Dividends

IISIX vs. BGCIX - Dividend Comparison

IISIX's dividend yield for the trailing twelve months is around 4.00%, less than BGCIX's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGCIX BlackRock Global Long/Short Credit Fund	5.75%	5.83%	7.13%	3.33%	8.25%	3.57%	9.87%	3.75%	6.01%	1.16%	0.00%	5.11%
IISIX Voya Strategic Income Opportunities Fund	4.00%	3.70%	5.66%	3.75%	2.70%	2.86%	3.87%	4.55%	4.38%	4.12%	4.09%	0.81%

Frequently Asked Questions

Can I hold both IISIX and BGCIX in my portfolio?

IISIX and BGCIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IISIX or BGCIX?

IISIX has higher volatility (1.80%) compared to BGCIX (0.39%). In terms of maximum drawdown, IISIX dropped -17.64% vs BGCIX's -10.37%.

Which has better risk-adjusted returns?

BGCIX currently has the higher Sharpe Ratio (3.56 vs 1.53), 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.