IPIIX vs. ATLAX
IPIIX (Voya Intermediate Bond Portfolio) and ATLAX (Atlas U.S. Tactical Income Fund) are both mutual funds - IPIIX is a Intermediate Core-Plus Bond fund managed by Voya, while ATLAX is a Diversified Portfolio fund managed by Voya. Over the past 10 years, IPIIX returned 1.68%/yr vs -0.33%/yr for ATLAX. Their 0.43 correlation means their historical movements had little consistent relationship. IPIIX charges 0.55%/yr vs 1.18%/yr for ATLAX.
Performance
IPIIX vs. ATLAX - Performance Comparison
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Returns By Period
In the year-to-date period, IPIIX achieves a -0.22% return, which is significantly lower than ATLAX's 0.37% return. Over the past 10 years, IPIIX has outperformed ATLAX with an annualized return of 1.68%, while ATLAX has yielded a comparatively lower -0.33% annualized return.
IPIIX
- 1D
- 0.09%
- 1M
- -1.37%
- 6M
- -0.62%
- YTD
- -0.22%
- 1Y
- 2.26%
- 3Y*
- 4.09%
- 5Y*
- -0.46%
- 10Y*
- 1.68%
- ALL TIME*
- 1.73%
ATLAX
- 1D
- -0.13%
- 1M
- -1.14%
- 6M
- -0.48%
- YTD
- 0.37%
- 1Y
- 5.86%
- 3Y*
- 7.96%
- 5Y*
- -0.52%
- 10Y*
- -0.33%
- ALL TIME*
- 0.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IPIIX vs. ATLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPIIX Voya Intermediate Bond Portfolio | -0.22% | 6.87% | 2.44% | 6.47% | -15.06% | -1.42% | 7.84% | 9.87% | -0.52% | 5.05% |
ATLAX Atlas U.S. Tactical Income Fund | 0.37% | 13.62% | 4.51% | 9.92% | -23.76% | -1.25% | 1.46% | 4.27% | -8.13% | 2.39% |
Correlation
The correlation between IPIIX and ATLAX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015 | 0.43 |
Over the past year, IPIIX and ATLAX have become more correlated (0.75) than their long-term average of 0.43, meaning their price movements have been converging.
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Return for Risk
IPIIX vs. ATLAX — Risk / Return Rank
IPIIX
ATLAX
IPIIX vs. ATLAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Intermediate Bond Portfolio (IPIIX) and Atlas U.S. Tactical Income Fund (ATLAX). 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.
| IPIIX | ATLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.19 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 1.40 | -0.41 |
| Martin ratioReturn relative to average drawdown | 2.55 | 5.21 | -2.65 |
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Drawdowns
IPIIX vs. ATLAX - Drawdown Comparison
The maximum IPIIX drawdown since its inception was -35.19%, smaller than the maximum ATLAX drawdown of -39.28%. Use the drawdown chart below to compare losses from any high point for IPIIX and ATLAX.
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Drawdown Indicators
| IPIIX | ATLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.19% | -39.28% | +4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -4.66% | +1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -5.54% | -10.20% | +4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.16% | -31.49% | +11.33% |
Max Drawdown (10Y)Largest decline over 10 years | -20.28% | -39.28% | +19.00% |
Current DrawdownCurrent decline from peak | -2.70% | -14.17% | +11.47% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -14.56% | +6.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.25% | -0.11% |
Volatility
IPIIX vs. ATLAX - Volatility Comparison
The current volatility for Voya Intermediate Bond Portfolio (IPIIX) is 1.16%, while Atlas U.S. Tactical Income Fund (ATLAX) has a volatility of 1.83%. This indicates that IPIIX experiences smaller price fluctuations and is considered to be less risky than ATLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPIIX | ATLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.83% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.75% | 4.98% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.62% | 6.05% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 9.00% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 16.47% | -11.46% |
IPIIX vs. ATLAX - Expense Ratio Comparison
IPIIX has a 0.55% expense ratio, which is lower than ATLAX's 1.18% expense ratio.
Dividends
IPIIX vs. ATLAX - Dividend Comparison
IPIIX's dividend yield for the trailing twelve months is around 3.60%, less than ATLAX's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATLAX Atlas U.S. Tactical Income Fund | 5.08% | 4.68% | 5.15% | 3.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IPIIX Voya Intermediate Bond Portfolio | 3.60% | 3.85% | 4.29% | 3.32% | 2.54% | 2.48% | 5.67% | 3.46% | 3.71% | 3.35% | 3.20% | 3.65% |
Frequently Asked Questions
IPIIX and ATLAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ATLAX has higher volatility (1.83%) compared to IPIIX (1.16%). In terms of maximum drawdown, IPIIX dropped -35.19% vs ATLAX's -39.28%.
ATLAX currently has the higher Sharpe Ratio (1.08 vs 0.65), 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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