IPIRX vs. PIALX

Last updated Jun 4, 2026

IPIRX (Voya Global Perspectives Portfolio) and PIALX (Pioneer Solutions - Balanced Fund) are both Global Allocation funds. Over the past 10 years, IPIRX returned 6.45%/yr vs 7.96%/yr for PIALX. Their correlation of 0.87 suggests significant overlap in exposure. IPIRX charges 0.20%/yr vs 0.44%/yr for PIALX.

Performance

IPIRX vs. PIALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Global Perspectives Portfolio (IPIRX) and Pioneer Solutions - Balanced Fund (PIALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPIRX achieves a 6.84% return, which is significantly lower than PIALX's 7.59% return. Over the past 10 years, IPIRX has underperformed PIALX with an annualized return of 6.45%, while PIALX has yielded a comparatively higher 7.96% annualized return.

IPIRX

• 1D: 0.00%
• 1M: 2.01%
• YTD: 6.84%
• 6M: 7.17%
• 1Y: 16.10%
• 3Y*: 11.74%
• 5Y*: 4.43%
• 10Y*: 6.45%

PIALX

• 1D: 0.28%
• 1M: 2.38%
• YTD: 7.59%
• 6M: 8.84%
• 1Y: 21.32%
• 3Y*: 15.57%
• 5Y*: 8.20%
• 10Y*: 7.96%

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

IPIRX vs. PIALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPIRX Voya Global Perspectives Portfolio	6.84%	14.21%	7.31%	10.65%	-17.52%	6.06%	16.10%	18.35%	-9.87%	15.00%
PIALX Pioneer Solutions - Balanced Fund	7.59%	23.78%	8.23%	11.73%	-8.89%	12.66%	9.75%	15.45%	-10.08%	12.88%

Correlation

The correlation between IPIRX and PIALX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.87

The correlation between IPIRX and PIALX shifts across timeframes, from 0.75 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IPIRX vs. PIALX — Risk / Return Rank

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

IPIRX

IPIRX Risk / Return Rank: 54
IPIRX Sharpe Ratio Rank: 54
IPIRX Sortino Ratio Rank: 61
IPIRX Omega Ratio Rank: 57
IPIRX Calmar Ratio Rank: 43
IPIRX Martin Ratio Rank: 56

PIALX

PIALX Risk / Return Rank: 86
PIALX Sharpe Ratio Rank: 92
PIALX Sortino Ratio Rank: 90
PIALX Omega Ratio Rank: 87
PIALX Calmar Ratio Rank: 83
PIALX Martin Ratio Rank: 81

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.

IPIRX vs. PIALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Global Perspectives Portfolio (IPIRX) and Pioneer Solutions - Balanced Fund (PIALX). 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.

	IPIRX	PIALX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	3.12	-0.95
Sortino ratio: Return per unit of downside risk	3.27	4.44	-1.17
Omega ratio: Gain probability vs. loss probability	1.42	1.60	-0.18
Calmar ratio: Return relative to maximum drawdown	2.48	3.88	-1.40
Martin ratio: Return relative to average drawdown	11.31	15.12	-3.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPIRX vs. PIALX - Sharpe Ratio Comparison

The current IPIRX Sharpe Ratio is 2.18, which is lower than the PIALX Sharpe Ratio of 3.12. The chart below compares the historical Sharpe Ratios of IPIRX and PIALX, 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

	IPIRX	PIALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	3.12	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.94	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.84	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.59	+0.02

Drawdowns

IPIRX vs. PIALX - Drawdown Comparison

The maximum IPIRX drawdown since its inception was -24.97%, smaller than the maximum PIALX drawdown of -43.04%. Use the drawdown chart below to compare losses from any high point for IPIRX and PIALX.

Drawdown Indicators

	IPIRX	PIALX	Difference
Max Drawdown Largest peak-to-trough decline	-24.97%	-43.04%	+18.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-5.57%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-10.54%	-8.85%	-1.69%
Max Drawdown (5Y) Largest decline over 5 years	-24.97%	-18.19%	-6.78%
Max Drawdown (10Y) Largest decline over 10 years	-24.97%	-26.28%	+1.31%
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-4.85%	-5.15%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.43%	+0.24%

Volatility

IPIRX vs. PIALX - Volatility Comparison

Voya Global Perspectives Portfolio (IPIRX) has a higher volatility of 2.53% compared to Pioneer Solutions - Balanced Fund (PIALX) at 2.10%. This indicates that IPIRX's price experiences larger fluctuations and is considered to be riskier than PIALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPIRX	PIALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.10%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	7.32%	5.46%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	9.11%	6.93%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.82%	8.75%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.78%	9.55%	+0.23%

IPIRX vs. PIALX - Expense Ratio Comparison

IPIRX has a 0.20% expense ratio, which is lower than PIALX's 0.44% expense ratio.

Dividends

IPIRX vs. PIALX - Dividend Comparison

IPIRX's dividend yield for the trailing twelve months is around 44.20%, more than PIALX's 5.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPIRX Voya Global Perspectives Portfolio	44.20%	5.64%	3.25%	14.65%	13.55%	6.34%	6.25%	7.80%	1.30%	2.78%	2.78%	7.16%
PIALX Pioneer Solutions - Balanced Fund	5.34%	5.74%	5.07%	3.97%	14.16%	6.30%	2.79%	6.44%	5.91%	1.81%	2.18%	10.28%

Frequently Asked Questions

Can I hold both IPIRX and PIALX in my portfolio?

IPIRX and PIALX 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.

Which is riskier, IPIRX or PIALX?

IPIRX has higher volatility (2.53%) compared to PIALX (2.10%). In terms of maximum drawdown, IPIRX dropped -24.97% vs PIALX's -43.04%.

Which has better risk-adjusted returns?

PIALX currently has the higher Sharpe Ratio (3.12 vs 2.17), 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.