IMCDX vs. IIBAX

Last updated Jun 5, 2026

IMCDX (Voya Emerging Markets Corporate Debt Fund) and IIBAX (Voya Intermediate Bond Fund) are both mutual funds - IMCDX is a Emerging Markets Bonds fund managed by Voya, while IIBAX is a Intermediate Core-Plus Bond fund managed by Voya. At a 0.40 correlation, their price movements are largely independent. IMCDX charges 0.10%/yr vs 0.69%/yr for IIBAX.

Performance

IMCDX vs. IIBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Emerging Markets Corporate Debt Fund (IMCDX) and Voya Intermediate Bond Fund (IIBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IIBAX

• 1D: -0.23%
• 1M: 0.14%
• YTD: 0.30%
• 6M: 0.33%
• 1Y: 3.98%
• 3Y*: 4.45%
• 5Y*: -0.02%
• 10Y*: 1.81%

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

IMCDX vs. IIBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%
IIBAX Voya Intermediate Bond Fund	0.30%	6.42%	2.65%	7.04%	-15.11%	-1.79%	7.75%	9.57%	-0.59%	4.48%

Correlation

The correlation between IMCDX and IIBAX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Aug 1, 2012	0.40

The correlation between IMCDX and IIBAX shifts across timeframes, from 0.40 (all time) to 0.52 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

IMCDX vs. IIBAX — Risk / Return Rank

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

IIBAX

IIBAX Risk / Return Rank: 17
IIBAX Sharpe Ratio Rank: 16
IIBAX Sortino Ratio Rank: 16
IIBAX Omega Ratio Rank: 15
IIBAX Calmar Ratio Rank: 19
IIBAX Martin Ratio Rank: 17

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.

IMCDX vs. IIBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Emerging Markets Corporate Debt Fund (IMCDX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IMCDX	IIBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.90	—

Drawdowns

Drawdown Indicators

	IMCDX	IIBAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-20.34%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.34%	—
Current Drawdown Current decline from peak	—	-2.22%	—
Average Drawdown Average peak-to-trough decline	—	-2.88%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	IMCDX	IIBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.34%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.03%	—

IMCDX vs. IIBAX - Expense Ratio Comparison

IMCDX has a 0.10% expense ratio, which is lower than IIBAX's 0.69% expense ratio.

Dividends

IMCDX vs. IIBAX - Dividend Comparison

IMCDX has not paid dividends to shareholders, while IIBAX's dividend yield for the trailing twelve months is around 3.59%.

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%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%

Frequently Asked Questions

Can I hold both IMCDX and IIBAX in my portfolio?

IMCDX and IIBAX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.