ILMBX vs. DFCFX

Last updated Jul 4, 2026

ILMBX (Voya Limited Maturity Bond Portfolio) and DFCFX (DFA Two-Year Fixed Income Portfolio) are both Short-Term Bond funds. Over the past 10 years, ILMBX returned 1.69%/yr vs 2.50%/yr for DFCFX. At a 0.43 correlation, their price movements are largely independent. ILMBX charges 0.53%/yr vs 0.21%/yr for DFCFX.

Performance

ILMBX vs. DFCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Limited Maturity Bond Portfolio (ILMBX) and DFA Two-Year Fixed Income Portfolio (DFCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILMBX achieves a 0.90% return, which is significantly lower than DFCFX's 1.82% return. Over the past 10 years, ILMBX has underperformed DFCFX with an annualized return of 1.69%, while DFCFX has yielded a comparatively higher 2.50% annualized return.

ILMBX

• 1D: 0.10%
• 1M: 0.13%
• 6M: 0.90%
• YTD: 0.90%
• 1Y: 2.87%
• 3Y*: 4.36%
• 5Y*: 1.55%
• 10Y*: 1.69%

DFCFX

• 1D: 0.10%
• 1M: 0.19%
• 6M: 1.82%
• YTD: 1.82%
• 1Y: 3.92%
• 3Y*: 4.05%
• 5Y*: 3.87%
• 10Y*: 2.50%

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

ILMBX vs. DFCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILMBX Voya Limited Maturity Bond Portfolio	0.90%	4.30%	4.48%	4.20%	-5.30%	-0.48%	3.20%	4.06%	1.06%	1.20%
DFCFX DFA Two-Year Fixed Income Portfolio	1.82%	2.28%	5.33%	4.92%	-3.28%	8.60%	0.57%	2.65%	1.78%	0.92%

Correlation

The correlation between ILMBX and DFCFX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jun 6, 1996	0.43

Over the past year, the correlation between ILMBX and DFCFX has dropped to 0.10 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

ILMBX vs. DFCFX — Risk / Return Rank

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

ILMBX

ILMBX Risk / Return Rank: 48
ILMBX Sharpe Ratio Rank: 34
ILMBX Sortino Ratio Rank: 41
ILMBX Omega Ratio Rank: 59
ILMBX Calmar Ratio Rank: 53
ILMBX Martin Ratio Rank: 55

DFCFX

DFCFX Risk / Return Rank: 100
DFCFX Sharpe Ratio Rank: 100
DFCFX Sortino Ratio Rank: 100
DFCFX Omega Ratio Rank: 100
DFCFX Calmar Ratio Rank: 100
DFCFX Martin Ratio Rank: 100

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.

ILMBX vs. DFCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Limited Maturity Bond Portfolio (ILMBX) and DFA Two-Year Fixed Income Portfolio (DFCFX). 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.

	ILMBX	DFCFX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	5.99	-4.69
Sortino ratio: Return per unit of downside risk	2.08	15.32	-13.24
Omega ratio: Gain probability vs. loss probability	1.32	9.16	-7.84
Calmar ratio: Return relative to maximum drawdown	2.26	19.84	-17.58
Martin ratio: Return relative to average drawdown	8.87	173.98	-165.11

ILMBX vs. DFCFX - Sharpe Ratio Comparison

The current ILMBX Sharpe Ratio is 1.30, which is lower than the DFCFX Sharpe Ratio of 5.99. The chart below compares the historical Sharpe Ratios of ILMBX and DFCFX, 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

ILMBX vs. DFCFX - Drawdown Comparison

The maximum ILMBX drawdown since its inception was -10.01%, which is greater than DFCFX's maximum drawdown of -4.27%. Use the drawdown chart below to compare losses from any high point for ILMBX and DFCFX.

Drawdown Indicators

	ILMBX	DFCFX	Difference
Max Drawdown Largest peak-to-trough decline	-10.01%	-4.27%	-5.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-0.21%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-1.34%	-1.33%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-7.36%	-4.27%	-3.09%
Max Drawdown (10Y) Largest decline over 10 years	-7.36%	-4.27%	-3.09%
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-1.16%	-0.26%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.02%	+0.31%

Volatility

ILMBX vs. DFCFX - Volatility Comparison

Voya Limited Maturity Bond Portfolio (ILMBX) has a higher volatility of 0.59% compared to DFA Two-Year Fixed Income Portfolio (DFCFX) at 0.38%. This indicates that ILMBX's price experiences larger fluctuations and is considered to be riskier than DFCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILMBX	DFCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	0.38%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	1.92%	0.52%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.34%	0.68%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.39%	4.39%	-2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.98%	3.13%	-1.15%

ILMBX vs. DFCFX - Expense Ratio Comparison

ILMBX has a 0.53% expense ratio, which is higher than DFCFX's 0.21% expense ratio.

Dividends

ILMBX vs. DFCFX - Dividend Comparison

ILMBX's dividend yield for the trailing twelve months is around 3.48%, less than DFCFX's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFCFX DFA Two-Year Fixed Income Portfolio	3.86%	2.16%	4.90%	3.43%	1.32%	8.29%	0.67%	2.22%	1.87%	1.22%	0.79%	0.53%
ILMBX Voya Limited Maturity Bond Portfolio	3.48%	3.15%	4.26%	3.45%	1.30%	1.09%	1.96%	1.59%	1.45%	1.70%	2.40%	0.95%

Frequently Asked Questions

Can I hold both ILMBX and DFCFX in my portfolio?

ILMBX and DFCFX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILMBX or DFCFX?

ILMBX has higher volatility (0.59%) compared to DFCFX (0.38%). In terms of maximum drawdown, ILMBX dropped -10.01% vs DFCFX's -4.27%.

Which has better risk-adjusted returns?

DFCFX currently has the higher Sharpe Ratio (5.99 vs 1.30), 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.