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INGIX vs. FEQHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INGIX vs. FEQHX

Last updated Jun 23, 2026

INGIX (Voya U.S. Stock Index Portfolio) and FEQHX (Fidelity Hedged Equity Fund) are both Large Cap Blend Equities funds. Over the past 3 years, INGIX returned 20.13%/yr vs 16.28%/yr for FEQHX. Their correlation of 0.90 suggests significant overlap in exposure. INGIX charges 0.27%/yr vs 0.55%/yr for FEQHX.

Performance

INGIX vs. FEQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya U.S. Stock Index Portfolio (INGIX) and Fidelity Hedged Equity Fund (FEQHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INGIX achieves a 10.07% return, which is significantly higher than FEQHX's 8.26% return.

INGIX

1D
1.09%
1M
0.43%
YTD
10.07%
6M
8.07%
1Y
24.83%
3Y*
20.13%
5Y*
13.48%
10Y*
15.13%

FEQHX

1D
0.88%
1M
0.00%
YTD
8.26%
6M
7.75%
1Y
20.17%
3Y*
16.28%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

INGIX vs. FEQHX - Yearly Performance Comparison

2026 (YTD)2025202420232022
INGIX
Voya U.S. Stock Index Portfolio		10.07%15.88%24.71%26.04%-3.10%
FEQHX
Fidelity Hedged Equity Fund		8.26%13.61%19.46%17.65%-4.85%

Correlation

The correlation between INGIX and FEQHX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.88

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Sep 8, 2022

0.90

The correlation between INGIX and FEQHX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Voya U.S. Stock Index Portfolio

Fidelity Hedged Equity Fund

Often compared with INGIX:
INGIX vs. VOOINGIX vs. IEOSXINGIX vs. IEDAXINGIX vs. IFTIXINGIX vs. IRVIXINGIX vs. LEXCXINGIX vs. IPMIX
Often compared with FEQHX:
FEQHX vs. BDMAXFEQHX vs. JDIEXFEQHX vs. AGRDXFEQHX vs. BFSAXFEQHX vs. VDIGXFEQHX vs. VOOFEQHX vs. FNILX

Return for Risk

INGIX vs. FEQHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INGIX
INGIX Risk / Return Rank: 4949
Overall Rank
INGIX Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
INGIX Sortino Ratio Rank: 3333
Sortino Ratio Rank
INGIX Omega Ratio Rank: 5050
Omega Ratio Rank
INGIX Calmar Ratio Rank: 6363
Calmar Ratio Rank
INGIX Martin Ratio Rank: 6565
Martin Ratio Rank
FEQHX
FEQHX Risk / Return Rank: 5555
Overall Rank
FEQHX Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
FEQHX Sortino Ratio Rank: 5555
Sortino Ratio Rank
FEQHX Omega Ratio Rank: 5454
Omega Ratio Rank
FEQHX Calmar Ratio Rank: 5454
Calmar Ratio Rank
FEQHX Martin Ratio Rank: 5555
Martin Ratio Rank
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.

INGIX vs. FEQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya U.S. Stock Index Portfolio (INGIX) and Fidelity Hedged Equity Fund (FEQHX). 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.

INGIXFEQHXDifference
Sharpe ratioReturn per unit of total volatility
1.59
2.06

-0.46

Sortino ratioReturn per unit of downside risk
2.25
2.86

-0.61

Omega ratioGain probability vs. loss probability

1.36

1.37

-0.02

Calmar ratioReturn relative to maximum drawdown

2.92

2.70

+0.22

Martin ratioReturn relative to average drawdown

11.91

10.42

+1.49

INGIX vs. FEQHX - Sharpe Ratio Comparison

The current INGIX Sharpe Ratio is 1.59, which is comparable to the FEQHX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of INGIX and FEQHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

INGIX vs. FEQHX - Drawdown Comparison

The maximum INGIX drawdown since its inception was -55.38%, which is greater than FEQHX's maximum drawdown of -10.42%. Use the drawdown chart below to compare losses from any high point for INGIX and FEQHX.

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Drawdown Indicators

INGIXFEQHXDifference

Max Drawdown

Largest peak-to-trough decline

-55.38%

-10.42%

-44.96%

Max Drawdown (1Y)

Largest decline over 1 year

-9.53%

-7.40%

-2.13%

Max Drawdown (3Y)

Largest decline over 3 years

-19.08%

-10.42%

-8.66%

Max Drawdown (5Y)

Largest decline over 5 years

-24.69%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.84%

—

—

Current Drawdown

Current decline from peak

-1.36%

-1.59%

+0.23%

Average Drawdown

Average peak-to-trough decline

-8.16%

-2.22%

-5.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.23%

1.91%

+0.32%

Volatility

INGIX vs. FEQHX - Volatility Comparison

Voya U.S. Stock Index Portfolio (INGIX) has a higher volatility of 4.77% compared to Fidelity Hedged Equity Fund (FEQHX) at 4.05%. This indicates that INGIX's price experiences larger fluctuations and is considered to be riskier than FEQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INGIXFEQHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.77%

4.05%

+0.72%

Volatility (6M)

Calculated over the trailing 6-month period

15.12%

7.50%

+7.62%

Volatility (1Y)

Calculated over the trailing 1-year period

17.46%

9.73%

+7.73%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.11%

11.33%

+6.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.64%

11.33%

+7.31%

INGIX vs. FEQHX - Expense Ratio Comparison

INGIX has a 0.27% expense ratio, which is lower than FEQHX's 0.55% expense ratio.

Dividends

INGIX vs. FEQHX - Dividend Comparison

INGIX's dividend yield for the trailing twelve months is around 9.69%, more than FEQHX's 0.51% yield.

PositionTTM20252024202320222021202020192018201720162015
FEQHX
Fidelity Hedged Equity Fund		0.51%0.43%0.61%0.77%0.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
INGIX
Voya U.S. Stock Index Portfolio		9.69%10.66%9.12%11.02%12.95%10.29%5.21%6.82%8.29%6.30%7.74%11.51%

Frequently Asked Questions

INGIX and FEQHX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INGIX has higher volatility (4.77%) compared to FEQHX (4.05%). In terms of maximum drawdown, INGIX dropped -55.38% vs FEQHX's -10.42%.

FEQHX currently has the higher Sharpe Ratio (2.06 vs 1.59), 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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