IPLIX vs. IEDAX

Last updated Jun 4, 2026

IPLIX (Voya Index Plus LargeCap Portfolio) and IEDAX (Voya Large Cap Value Fund) are both mutual funds - IPLIX is a Large Cap Blend Equities fund managed by Voya, while IEDAX is a Large Cap Value Equities fund managed by Voya. Over the past 10 years, IPLIX returned 14.78%/yr vs 12.43%/yr for IEDAX. Their correlation of 0.91 suggests significant overlap in exposure. IPLIX charges 0.55%/yr vs 1.10%/yr for IEDAX.

Performance

IPLIX vs. IEDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Index Plus LargeCap Portfolio (IPLIX) and Voya Large Cap Value Fund (IEDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPLIX achieves a 11.40% return, which is significantly higher than IEDAX's 8.93% return. Over the past 10 years, IPLIX has outperformed IEDAX with an annualized return of 14.78%, while IEDAX has yielded a comparatively lower 12.43% annualized return.

IPLIX

• 1D: 0.00%
• 1M: 6.43%
• YTD: 11.40%
• 6M: 11.48%
• 1Y: 26.94%
• 3Y*: 21.83%
• 5Y*: 13.35%
• 10Y*: 14.78%

IEDAX

• 1D: 0.81%
• 1M: 5.65%
• YTD: 8.93%
• 6M: 9.01%
• 1Y: 18.16%
• 3Y*: 16.93%
• 5Y*: 10.37%
• 10Y*: 12.43%

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

IPLIX vs. IEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPLIX Voya Index Plus LargeCap Portfolio	11.40%	15.30%	25.20%	26.06%	-19.04%	29.01%	15.56%	29.67%	-6.79%	24.66%
IEDAX Voya Large Cap Value Fund	8.93%	12.42%	16.47%	13.26%	-3.86%	26.38%	5.53%	35.63%	-8.29%	13.36%

Correlation

The correlation between IPLIX and IEDAX 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	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 21, 2007	0.91

The correlation between IPLIX and IEDAX shifts across timeframes, from 0.71 (3 years) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IPLIX vs. IEDAX — Risk / Return Rank

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

IPLIX

IPLIX Risk / Return Rank: 71
IPLIX Sharpe Ratio Rank: 67
IPLIX Sortino Ratio Rank: 67
IPLIX Omega Ratio Rank: 63
IPLIX Calmar Ratio Rank: 76
IPLIX Martin Ratio Rank: 83

IEDAX

IEDAX Risk / Return Rank: 37
IEDAX Sharpe Ratio Rank: 38
IEDAX Sortino Ratio Rank: 41
IEDAX Omega Ratio Rank: 38
IEDAX Calmar Ratio Rank: 30
IEDAX Martin Ratio Rank: 36

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.

IPLIX vs. IEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Plus LargeCap Portfolio (IPLIX) and Voya Large Cap Value Fund (IEDAX). 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.

	IPLIX	IEDAX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.79	+0.61
Sortino ratio: Return per unit of downside risk	3.42	2.67	+0.75
Omega ratio: Gain probability vs. loss probability	1.44	1.33	+0.11
Calmar ratio: Return relative to maximum drawdown	3.48	2.04	+1.44
Martin ratio: Return relative to average drawdown	15.62	7.97	+7.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPLIX vs. IEDAX - Sharpe Ratio Comparison

The current IPLIX Sharpe Ratio is 2.41, which is higher than the IEDAX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of IPLIX and IEDAX, 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

	IPLIX	IEDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	1.79	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.62	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.67	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.49	+0.01

Drawdowns

IPLIX vs. IEDAX - Drawdown Comparison

The maximum IPLIX drawdown since its inception was -51.01%, which is greater than IEDAX's maximum drawdown of -47.31%. Use the drawdown chart below to compare losses from any high point for IPLIX and IEDAX.

Drawdown Indicators

	IPLIX	IEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.01%	-47.31%	-3.70%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-10.04%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-19.56%	-22.40%	+2.84%
Max Drawdown (5Y) Largest decline over 5 years	-24.78%	-22.40%	-2.38%
Max Drawdown (10Y) Largest decline over 10 years	-35.40%	-39.36%	+3.96%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.96%	-6.49%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.48%	-0.57%

Volatility

IPLIX vs. IEDAX - Volatility Comparison

Voya Index Plus LargeCap Portfolio (IPLIX) has a higher volatility of 5.22% compared to Voya Large Cap Value Fund (IEDAX) at 3.22%. This indicates that IPLIX's price experiences larger fluctuations and is considered to be riskier than IEDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPLIX	IEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	3.22%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	8.85%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	11.45%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	17.23%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	18.82%	-0.02%

IPLIX vs. IEDAX - Expense Ratio Comparison

IPLIX has a 0.55% expense ratio, which is lower than IEDAX's 1.10% expense ratio.

Dividends

IPLIX vs. IEDAX - Dividend Comparison

IPLIX's dividend yield for the trailing twelve months is around 11.61%, more than IEDAX's 7.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEDAX Voya Large Cap Value Fund	7.33%	8.03%	15.43%	10.92%	8.06%	16.02%	9.13%	17.61%	11.75%	11.03%	1.89%	8.59%
IPLIX Voya Index Plus LargeCap Portfolio	11.61%	10.85%	5.16%	2.88%	35.98%	7.06%	10.07%	9.90%	10.97%	3.12%	1.59%	1.61%

Frequently Asked Questions

Can I hold both IPLIX and IEDAX in my portfolio?

IPLIX and IEDAX 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, IPLIX or IEDAX?

IPLIX has higher volatility (5.22%) compared to IEDAX (3.22%). In terms of maximum drawdown, IPLIX dropped -51.01% vs IEDAX's -47.31%.

Which has better risk-adjusted returns?

IPLIX currently has the higher Sharpe Ratio (2.41 vs 1.79), 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.