IISIX vs. FPFIX
IISIX (Voya Strategic Income Opportunities Fund) and FPFIX (FPA Flexible Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 5 years, IISIX returned 2.27%/yr vs 3.47%/yr for FPFIX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. IISIX charges 0.61%/yr vs 0.51%/yr for FPFIX.
Performance
IISIX vs. FPFIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IISIX achieves a 0.73% return, which is significantly higher than FPFIX's -0.06% return.
IISIX
- 1D
- 0.22%
- 1M
- -0.54%
- 6M
- 0.42%
- YTD
- 0.73%
- 1Y
- 2.62%
- 3Y*
- 5.47%
- 5Y*
- 2.27%
- 10Y*
- 3.22%
- ALL TIME*
- 3.18%
FPFIX
- 1D
- 0.10%
- 1M
- -0.07%
- 6M
- -0.38%
- YTD
- -0.06%
- 1Y
- 2.36%
- 3Y*
- 5.47%
- 5Y*
- 3.47%
- 10Y*
- —
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IISIX vs. FPFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IISIX Voya Strategic Income Opportunities Fund | 0.73% | 5.94% | 6.78% | 6.69% | -8.19% | 1.54% | 1.46% | 8.47% |
FPFIX FPA Flexible Fixed Income Fund | -0.06% | 6.87% | 5.28% | 8.11% | -2.82% | 1.77% | 4.71% | 3.78% |
Correlation
The correlation between IISIX and FPFIX is 0.70, 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. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2019 | 0.60 |
The correlation between IISIX and FPFIX shifts across timeframes, from 0.60 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IISIX vs. FPFIX — Risk / Return Rank
IISIX
FPFIX
IISIX vs. FPFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Strategic Income Opportunities Fund (IISIX) and FPA Flexible Fixed Income Fund (FPFIX). 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.
| IISIX | FPFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.47 | +0.20 |
| Martin ratioReturn relative to average drawdown | 6.33 | 3.30 | +3.03 |
Loading charts...
Drawdowns
IISIX vs. FPFIX - Drawdown Comparison
The maximum IISIX drawdown since its inception was -17.64%, which is greater than FPFIX's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for IISIX and FPFIX.
Loading charts...
Drawdown Indicators
| IISIX | FPFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.64% | -4.11% | -13.53% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -2.10% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -2.10% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -9.49% | -4.11% | -5.38% |
Max Drawdown (10Y)Largest decline over 10 years | -17.64% | — | — |
Current DrawdownCurrent decline from peak | -0.64% | -1.46% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -0.61% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.93% | -0.44% |
Volatility
IISIX vs. FPFIX - Volatility Comparison
Voya Strategic Income Opportunities Fund (IISIX) has a higher volatility of 0.78% compared to FPA Flexible Fixed Income Fund (FPFIX) at 0.59%. This indicates that IISIX's price experiences larger fluctuations and is considered to be riskier than FPFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IISIX | FPFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.59% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 1.91% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.15% | 2.42% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.00% | 2.36% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.43% | 2.09% | +1.34% |
IISIX vs. FPFIX - Expense Ratio Comparison
IISIX has a 0.61% expense ratio, which is higher than FPFIX's 0.51% expense ratio.
Dividends
IISIX vs. FPFIX - Dividend Comparison
IISIX's dividend yield for the trailing twelve months is around 3.58%, less than FPFIX's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPFIX FPA Flexible Fixed Income Fund | 3.76% | 3.78% | 4.76% | 3.95% | 2.92% | 2.26% | 3.00% | 2.42% | 0.00% | 0.00% | 0.00% | 0.00% |
IISIX Voya Strategic Income Opportunities Fund | 3.58% | 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
IISIX and FPFIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IISIX has higher volatility (0.78%) compared to FPFIX (0.59%). In terms of maximum drawdown, IISIX dropped -17.64% vs FPFIX's -4.11%.
FPFIX currently has the higher Sharpe Ratio (1.27 vs 1.01), 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.
Find the right allocation for IISIX and FPFIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer