IISIX vs. IIBAX
IISIX (Voya Strategic Income Opportunities Fund) and IIBAX (Voya Intermediate Bond Fund) are both mutual funds - IISIX is a Nontraditional Bonds fund managed by Voya, while IIBAX is a Intermediate Core-Plus Bond fund managed by Voya. Over the past 10 years, IISIX returned 3.36%/yr vs 1.76%/yr for IIBAX. A 0.53 correlation means they provide meaningful diversification when combined. IISIX charges 0.61%/yr vs 0.69%/yr for IIBAX.
Performance
IISIX vs. IIBAX - Performance Comparison
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Returns By Period
In the year-to-date period, IISIX achieves a 0.35% return, which is significantly higher than IIBAX's 0.18% return. Over the past 10 years, IISIX has outperformed IIBAX with an annualized return of 3.36%, while IIBAX has yielded a comparatively lower 1.76% annualized return.
IISIX
- 1D
- -0.32%
- 1M
- 0.18%
- YTD
- 0.35%
- 6M
- 0.76%
- 1Y
- 3.18%
- 3Y*
- 5.84%
- 5Y*
- 2.18%
- 10Y*
- 3.36%
IIBAX
- 1D
- -0.23%
- 1M
- 0.71%
- YTD
- 0.18%
- 6M
- 0.55%
- 1Y
- 3.51%
- 3Y*
- 4.41%
- 5Y*
- -0.06%
- 10Y*
- 1.76%
IISIX vs. IIBAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IISIX Voya Strategic Income Opportunities Fund | 0.35% | 5.94% | 6.78% | 6.69% | -8.19% | 1.54% | 1.46% | 8.47% | 1.65% | 5.87% |
IIBAX Voya Intermediate Bond Fund | 0.18% | 6.42% | 2.65% | 7.04% | -15.11% | -1.79% | 7.75% | 9.57% | -0.59% | 4.48% |
Correlation
The correlation between IISIX and IIBAX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.53 |
Over the past year, IISIX and IIBAX have become more correlated (0.79) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
IISIX vs. IIBAX — Risk / Return Rank
IISIX
IIBAX
IISIX vs. IIBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Strategic Income Opportunities Fund (IISIX) and Voya Intermediate Bond Fund (IIBAX). 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 | IIBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.17 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.31 | +0.65 |
| Martin ratioReturn relative to average drawdown | 7.94 | 3.67 | +4.27 |
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Drawdowns
IISIX vs. IIBAX - Drawdown Comparison
The maximum IISIX drawdown since its inception was -17.64%, smaller than the maximum IIBAX drawdown of -20.34%. Use the drawdown chart below to compare losses from any high point for IISIX and IIBAX.
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Drawdown Indicators
| IISIX | IIBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.64% | -20.34% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -3.10% | +1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -2.22% | -6.12% | +3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -9.49% | -20.01% | +10.52% |
Max Drawdown (10Y)Largest decline over 10 years | -17.64% | -20.34% | +2.70% |
Current DrawdownCurrent decline from peak | -0.68% | -2.33% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -2.88% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 1.07% | -0.62% |
Volatility
IISIX vs. IIBAX - Volatility Comparison
The current volatility for Voya Strategic Income Opportunities Fund (IISIX) is 1.00%, while Voya Intermediate Bond Fund (IIBAX) has a volatility of 1.22%. This indicates that IISIX experiences smaller price fluctuations and is considered to be less risky than IIBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IISIX | IIBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.22% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 3.21% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.12% | 4.33% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.99% | 6.00% | -3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.43% | 5.04% | -1.61% |
IISIX vs. IIBAX - Expense Ratio Comparison
IISIX has a 0.61% expense ratio, which is lower than IIBAX's 0.69% expense ratio.
Dividends
IISIX vs. IIBAX - Dividend Comparison
IISIX's dividend yield for the trailing twelve months is around 4.03%, more than IIBAX's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIBAX Voya Intermediate Bond Fund | 3.59% | 3.43% | 4.50% | 4.05% | 1.98% | 2.03% | 4.69% | 3.23% | 2.93% | 2.88% | 2.96% | 2.45% |
IISIX Voya Strategic Income Opportunities Fund | 4.03% | 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 IIBAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIBAX has higher volatility (1.22%) compared to IISIX (1.00%). In terms of maximum drawdown, IISIX dropped -17.64% vs IIBAX's -20.34%.
IISIX currently has the higher Sharpe Ratio (1.20 vs 0.94), 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.
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