IPHYX vs. IGBIX
IPHYX (Voya High Yield Portfolio) and IGBIX (Voya Global Bond Fund) are both mutual funds - IPHYX is a High Yield Bonds fund managed by Voya, while IGBIX is a Global Bonds fund managed by Voya. Over the past 10 years, IPHYX returned 4.54%/yr vs 0.64%/yr for IGBIX. At a 0.30 correlation, their price movements are largely independent. IPHYX charges 0.73%/yr vs 0.65%/yr for IGBIX.
Performance
IPHYX vs. IGBIX - Performance Comparison
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Returns By Period
In the year-to-date period, IPHYX achieves a 1.06% return, which is significantly higher than IGBIX's -1.42% return. Over the past 10 years, IPHYX has outperformed IGBIX with an annualized return of 4.54%, while IGBIX has yielded a comparatively lower 0.64% annualized return.
IPHYX
- 1D
- 0.11%
- 1M
- 0.47%
- YTD
- 1.06%
- 6M
- 1.64%
- 1Y
- 4.52%
- 3Y*
- 7.30%
- 5Y*
- 2.52%
- 10Y*
- 4.54%
IGBIX
- 1D
- 0.28%
- 1M
- -0.17%
- YTD
- -1.42%
- 6M
- -1.17%
- 1Y
- -0.76%
- 3Y*
- 2.99%
- 5Y*
- -2.28%
- 10Y*
- 0.64%
IPHYX vs. IGBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPHYX Voya High Yield Portfolio | 1.06% | 6.80% | 6.74% | 11.47% | -13.75% | 4.15% | 5.66% | 15.24% | -3.18% | 6.24% |
IGBIX Voya Global Bond Fund | -1.42% | 7.51% | -1.07% | 6.05% | -18.48% | -5.58% | 10.12% | 7.59% | -1.89% | 9.66% |
Correlation
The correlation between IPHYX and IGBIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2006 | 0.30 |
Over the past year, IPHYX and IGBIX have become more correlated (0.67) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
IPHYX vs. IGBIX — Risk / Return Rank
IPHYX
IGBIX
IPHYX vs. IGBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya High Yield Portfolio (IPHYX) and Voya Global Bond Fund (IGBIX). 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.
| IPHYX | IGBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.98 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | -0.16 | +2.11 |
| Martin ratioReturn relative to average drawdown | 9.12 | -0.40 | +9.52 |
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Drawdowns
IPHYX vs. IGBIX - Drawdown Comparison
The maximum IPHYX drawdown since its inception was -32.43%, which is greater than IGBIX's maximum drawdown of -28.58%. Use the drawdown chart below to compare losses from any high point for IPHYX and IGBIX.
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Drawdown Indicators
| IPHYX | IGBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -28.58% | -3.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -5.27% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -3.81% | -7.74% | +3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -17.18% | -26.46% | +9.28% |
Max Drawdown (10Y)Largest decline over 10 years | -20.45% | -28.58% | +8.13% |
Current DrawdownCurrent decline from peak | -0.34% | -14.66% | +14.32% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -6.02% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 2.01% | -1.47% |
Volatility
IPHYX vs. IGBIX - Volatility Comparison
The current volatility for Voya High Yield Portfolio (IPHYX) is 1.04%, while Voya Global Bond Fund (IGBIX) has a volatility of 1.95%. This indicates that IPHYX experiences smaller price fluctuations and is considered to be less risky than IGBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPHYX | IGBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 1.95% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 4.64% | -1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 5.97% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.22% | 6.72% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 5.97% | -0.47% |
IPHYX vs. IGBIX - Expense Ratio Comparison
IPHYX has a 0.73% expense ratio, which is higher than IGBIX's 0.65% expense ratio.
Dividends
IPHYX vs. IGBIX - Dividend Comparison
IPHYX's dividend yield for the trailing twelve months is around 4.77%, more than IGBIX's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBIX Voya Global Bond Fund | 3.91% | 3.44% | 4.58% | 3.35% | 3.31% | 4.04% | 4.43% | 4.66% | 4.75% | 4.84% | 4.69% | 4.72% |
IPHYX Voya High Yield Portfolio | 4.77% | 4.47% | 5.90% | 5.68% | 4.36% | 4.26% | 5.03% | 5.14% | 6.03% | 6.82% | 6.44% | 6.32% |
Frequently Asked Questions
IPHYX and IGBIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGBIX has higher volatility (1.95%) compared to IPHYX (1.04%). In terms of maximum drawdown, IPHYX dropped -32.43% vs IGBIX's -28.58%.
IPHYX currently has the higher Sharpe Ratio (1.45 vs -0.14), 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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