IMCVX vs. RSVAX

Last updated Aug 1, 2026

IMCVX (Voya Multi-Manager Mid Cap Value Fund) and RSVAX (Victory RS Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, IMCVX returned 9.64%/yr vs 9.29%/yr for RSVAX. Their correlation of 0.92 means they have usually moved in the same direction. IMCVX charges 0.78%/yr vs 1.30%/yr for RSVAX.

Performance

IMCVX vs. RSVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Multi-Manager Mid Cap Value Fund (IMCVX) and Victory RS Value Fund (RSVAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMCVX achieves a 14.19% return, which is significantly higher than RSVAX's 10.72% return. Both investments have delivered pretty close results over the past 10 years, with IMCVX having a 9.64% annualized return and RSVAX not far behind at 9.29%.

IMCVX

• 1D: -0.58%
• 1M: 0.39%
• 6M: 8.76%
• YTD: 14.19%
• 1Y: 16.64%
• 3Y*: 10.50%
• 5Y*: 6.28%
• 10Y*: 9.64%
• ALL TIME*: 12.15%

RSVAX

• 1D: 0.30%
• 1M: 2.27%
• 6M: 7.01%
• YTD: 10.72%
• 1Y: 16.59%
• 3Y*: 9.70%
• 5Y*: 7.82%
• 10Y*: 9.29%
• ALL TIME*: 7.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IMCVX Voya Multi-Manager Mid Cap Value Fund	$0.00	$0.00	$0.00
RSVAX Victory RS Value Fund	$0.00	$0.00	$0.00

IMCVX vs. RSVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMCVX Voya Multi-Manager Mid Cap Value Fund	14.19%	4.09%	10.72%	9.44%	-11.52%	29.40%	2.62%	40.50%	-15.20%	15.06%
RSVAX Victory RS Value Fund	10.72%	4.58%	12.58%	7.63%	-2.98%	27.30%	-2.60%	31.36%	-10.84%	17.37%

Correlation

The correlation between IMCVX and RSVAX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011	0.92

The correlation between IMCVX and RSVAX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

Return for Risk

IMCVX vs. RSVAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IMCVX

IMCVX Risk / Return Rank: 63
IMCVX Sharpe Ratio Rank: 60
IMCVX Sortino Ratio Rank: 67
IMCVX Omega Ratio Rank: 54
IMCVX Calmar Ratio Rank: 72
IMCVX Martin Ratio Rank: 62

RSVAX

RSVAX Risk / Return Rank: 40
RSVAX Sharpe Ratio Rank: 38
RSVAX Sortino Ratio Rank: 41
RSVAX Omega Ratio Rank: 35
RSVAX Calmar Ratio Rank: 45
RSVAX Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IMCVX vs. RSVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager Mid Cap Value Fund (IMCVX) and Victory RS Value Fund (RSVAX). 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.

	IMCVX	RSVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.18	+0.35
Sortino ratio: Return per unit of downside risk	2.36	1.79	+0.57
Omega ratio: Gain probability vs. loss probability	1.27	1.21	+0.06
Calmar ratio: Return relative to maximum drawdown	2.42	1.79	+0.63
Martin ratio: Return relative to average drawdown	8.27	6.29	+1.98

IMCVX vs. RSVAX - Sharpe Ratio Comparison

The current IMCVX Sharpe Ratio is 1.54, which is comparable to the RSVAX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of IMCVX and RSVAX, 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

IMCVX vs. RSVAX - Drawdown Comparison

The maximum IMCVX drawdown since its inception was -44.22%, smaller than the maximum RSVAX drawdown of -59.23%. Use the drawdown chart below to compare losses from any high point for IMCVX and RSVAX.

Drawdown Indicators

	IMCVX	RSVAX	Difference
Max Drawdown Largest peak-to-trough decline	-44.22%	-59.23%	+15.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.47%	-7.81%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-17.98%	-1.36%
Max Drawdown (5Y) Largest decline over 5 years	-22.03%	-23.58%	+1.55%
Max Drawdown (10Y) Largest decline over 10 years	-44.22%	-43.49%	-0.73%
Current Drawdown Current decline from peak	-1.53%	-0.04%	-1.49%
Average Drawdown Average peak-to-trough decline	-5.41%	-13.75%	+8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.24%	-0.09%

Volatility

IMCVX vs. RSVAX - Volatility Comparison

The current volatility for Voya Multi-Manager Mid Cap Value Fund (IMCVX) is 2.83%, while Victory RS Value Fund (RSVAX) has a volatility of 3.07%. This indicates that IMCVX experiences smaller price fluctuations and is considered to be less risky than RSVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMCVX	RSVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.07%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	8.20%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.85%	11.88%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	17.92%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	19.16%	+0.84%

IMCVX vs. RSVAX - Expense Ratio Comparison

IMCVX has a 0.78% expense ratio, which is lower than RSVAX's 1.30% expense ratio.

Dividends

IMCVX vs. RSVAX - Dividend Comparison

IMCVX's dividend yield for the trailing twelve months is around 8.07%, more than RSVAX's 7.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCVX Voya Multi-Manager Mid Cap Value Fund	8.07%	9.21%	11.72%	0.98%	8.69%	15.71%	4.38%	19.23%	20.04%	7.09%	3.00%	21.05%
RSVAX Victory RS Value Fund	7.98%	8.83%	9.89%	6.48%	6.33%	14.14%	1.93%	7.38%	15.47%	25.04%	12.47%	9.35%

Frequently Asked Questions

Can I hold both IMCVX and RSVAX in my portfolio?

IMCVX and RSVAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMCVX or RSVAX?

RSVAX has higher volatility (3.07%) compared to IMCVX (2.83%). In terms of maximum drawdown, IMCVX dropped -44.22% vs RSVAX's -59.23%.

Which has better risk-adjusted returns?

IMCVX currently has the higher Sharpe Ratio (1.54 vs 1.18), 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.