IOSIX vs. FBIIX

Last updated Jun 4, 2026

IOSIX (Voya Global Bond Portfolio) and FBIIX (Fidelity International Bond Index Fund) are both Global Bonds funds. Over the past 5 years, IOSIX returned -2.25%/yr vs 0.80%/yr for FBIIX. A 0.61 correlation means they provide meaningful diversification when combined. IOSIX charges 0.67%/yr vs 0.06%/yr for FBIIX.

Performance

IOSIX vs. FBIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Global Bond Portfolio (IOSIX) and Fidelity International Bond Index Fund (FBIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOSIX achieves a 0.04% return, which is significantly lower than FBIIX's 0.83% return.

IOSIX

• 1D: 0.25%
• 1M: 0.51%
• YTD: 0.04%
• 6M: 0.27%
• 1Y: 2.43%
• 3Y*: 3.72%
• 5Y*: -2.25%
• 10Y*: 0.76%

FBIIX

• 1D: 0.11%
• 1M: 0.99%
• YTD: 0.83%
• 6M: 0.60%
• 1Y: 2.22%
• 3Y*: 4.12%
• 5Y*: 0.80%
• 10Y*: —

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

IOSIX vs. FBIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IOSIX Voya Global Bond Portfolio	0.04%	8.09%	-1.31%	5.85%	-18.95%	-5.21%	9.21%	0.56%
FBIIX Fidelity International Bond Index Fund	0.83%	2.66%	4.64%	7.48%	-10.84%	-1.84%	4.43%	-1.13%

Correlation

The correlation between IOSIX and FBIIX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.61

The correlation between IOSIX and FBIIX has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

IOSIX vs. FBIIX — Risk / Return Rank

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

IOSIX

IOSIX Risk / Return Rank: 5
IOSIX Sharpe Ratio Rank: 6
IOSIX Sortino Ratio Rank: 5
IOSIX Omega Ratio Rank: 5
IOSIX Calmar Ratio Rank: 6
IOSIX Martin Ratio Rank: 6

FBIIX

FBIIX Risk / Return Rank: 8
FBIIX Sharpe Ratio Rank: 9
FBIIX Sortino Ratio Rank: 9
FBIIX Omega Ratio Rank: 9
FBIIX Calmar Ratio Rank: 8
FBIIX Martin Ratio Rank: 8

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.

IOSIX vs. FBIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Global Bond Portfolio (IOSIX) and Fidelity International Bond Index Fund (FBIIX). 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.

	IOSIX	FBIIX	Difference
Sharpe ratio: Return per unit of total volatility	0.42	0.74	-0.33
Sortino ratio: Return per unit of downside risk	0.65	1.08	-0.43
Omega ratio: Gain probability vs. loss probability	1.08	1.14	-0.07
Calmar ratio: Return relative to maximum drawdown	0.49	0.80	-0.31
Martin ratio: Return relative to average drawdown	1.42	2.24	-0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOSIX vs. FBIIX - Sharpe Ratio Comparison

The current IOSIX Sharpe Ratio is 0.42, which is lower than the FBIIX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of IOSIX and FBIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IOSIX	FBIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	0.74	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	0.22	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.23	-0.11

Drawdowns

IOSIX vs. FBIIX - Drawdown Comparison

The maximum IOSIX drawdown since its inception was -28.75%, which is greater than FBIIX's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for IOSIX and FBIIX.

Drawdown Indicators

	IOSIX	FBIIX	Difference
Max Drawdown Largest peak-to-trough decline	-28.75%	-13.79%	-14.96%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	-2.78%	-2.08%
Max Drawdown (3Y) Largest decline over 3 years	-7.86%	-2.78%	-5.08%
Max Drawdown (5Y) Largest decline over 5 years	-27.06%	-13.74%	-13.32%
Max Drawdown (10Y) Largest decline over 10 years	-28.75%	—	—
Current Drawdown Current decline from peak	-13.51%	-1.11%	-12.40%
Average Drawdown Average peak-to-trough decline	-10.33%	-4.12%	-6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	0.99%	+0.65%

Volatility

IOSIX vs. FBIIX - Volatility Comparison

Voya Global Bond Portfolio (IOSIX) has a higher volatility of 2.13% compared to Fidelity International Bond Index Fund (FBIIX) at 1.33%. This indicates that IOSIX's price experiences larger fluctuations and is considered to be riskier than FBIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOSIX	FBIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	1.33%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	4.29%	2.65%	+1.64%
Volatility (1Y) Calculated over the trailing 1-year period	5.70%	2.99%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.65%	3.59%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.86%	3.42%	+2.44%

IOSIX vs. FBIIX - Expense Ratio Comparison

IOSIX has a 0.67% expense ratio, which is higher than FBIIX's 0.06% expense ratio.

Dividends

IOSIX vs. FBIIX - Dividend Comparison

IOSIX's dividend yield for the trailing twelve months is around 3.54%, less than FBIIX's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FBIIX Fidelity International Bond Index Fund	4.18%	4.09%	3.44%	2.85%	1.02%	0.62%	0.74%	0.17%	0.00%	0.00%	0.00%
IOSIX Voya Global Bond Portfolio	3.54%	3.19%	4.04%	3.28%	2.30%	5.60%	2.73%	4.64%	3.90%	2.50%	1.75%

Frequently Asked Questions

Can I hold both IOSIX and FBIIX in my portfolio?

IOSIX and FBIIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IOSIX or FBIIX?

IOSIX has higher volatility (2.13%) compared to FBIIX (1.33%). In terms of maximum drawdown, IOSIX dropped -28.75% vs FBIIX's -13.79%.

Which has better risk-adjusted returns?

FBIIX currently has the higher Sharpe Ratio (0.74 vs 0.42), 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.