IPLIX vs. IIRLX

Last updated Jun 4, 2026

IPLIX (Voya Index Plus LargeCap Portfolio) and IIRLX (Voya Russell Large Cap Index Portfolio) are both Large Cap Blend Equities funds from Voya. Over the past 10 years, IPLIX returned 14.78%/yr vs 16.22%/yr for IIRLX. With a 0.99 correlation, they move nearly in lockstep. IPLIX charges 0.55%/yr vs 0.36%/yr for IIRLX.

Performance

IPLIX vs. IIRLX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with IPLIX having a 11.40% return and IIRLX slightly lower at 11.09%. Over the past 10 years, IPLIX has underperformed IIRLX with an annualized return of 14.78%, while IIRLX has yielded a comparatively higher 16.22% 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%

IIRLX

• 1D: 0.06%
• 1M: 6.31%
• YTD: 11.09%
• 6M: 11.05%
• 1Y: 29.54%
• 3Y*: 23.56%
• 5Y*: 14.81%
• 10Y*: 16.22%

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

IPLIX vs. IIRLX - 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%
IIRLX Voya Russell Large Cap Index Portfolio	11.09%	18.77%	26.95%	29.41%	-20.07%	27.26%	21.71%	31.18%	-3.45%	22.58%

Correlation

The correlation between IPLIX and IIRLX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 12, 2008	0.99

The correlation between IPLIX and IIRLX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

IPLIX vs. IIRLX — 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

IIRLX

IIRLX Risk / Return Rank: 75
IIRLX Sharpe Ratio Rank: 76
IIRLX Sortino Ratio Rank: 72
IIRLX Omega Ratio Rank: 71
IIRLX Calmar Ratio Rank: 77
IIRLX Martin Ratio Rank: 79

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. IIRLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Plus LargeCap Portfolio (IPLIX) and Voya Russell Large Cap Index Portfolio (IIRLX). 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	IIRLX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.53	-0.12
Sortino ratio: Return per unit of downside risk	3.42	3.54	-0.12
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.48	3.48	0.00
Martin ratio: Return relative to average drawdown	15.62	14.91	+0.71
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. IIRLX - Sharpe Ratio Comparison

The current IPLIX Sharpe Ratio is 2.41, which is comparable to the IIRLX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IPLIX and IIRLX, 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	IIRLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.53	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.86	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.89	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.62	-0.12

Drawdowns

IPLIX vs. IIRLX - Drawdown Comparison

The maximum IPLIX drawdown since its inception was -51.01%, roughly equal to the maximum IIRLX drawdown of -50.33%. Use the drawdown chart below to compare losses from any high point for IPLIX and IIRLX.

Drawdown Indicators

	IPLIX	IIRLX	Difference
Max Drawdown Largest peak-to-trough decline	-51.01%	-50.33%	-0.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-9.83%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.56%	-19.58%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.78%	-25.83%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-35.40%	-32.60%	-2.80%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.96%	-6.78%	-3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.18%	-0.27%

Volatility

IPLIX vs. IIRLX - Volatility Comparison

The current volatility for Voya Index Plus LargeCap Portfolio (IPLIX) is 5.22%, while Voya Russell Large Cap Index Portfolio (IIRLX) has a volatility of 6.14%. This indicates that IPLIX experiences smaller price fluctuations and is considered to be less risky than IIRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPLIX	IIRLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	6.14%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	10.65%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	13.55%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	17.77%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	18.52%	+0.28%

IPLIX vs. IIRLX - Expense Ratio Comparison

IPLIX has a 0.55% expense ratio, which is higher than IIRLX's 0.36% expense ratio.

Dividends

IPLIX vs. IIRLX - Dividend Comparison

IPLIX's dividend yield for the trailing twelve months is around 11.61%, more than IIRLX's 4.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIRLX Voya Russell Large Cap Index Portfolio	4.76%	3.76%	0.96%	1.14%	5.04%	4.77%	4.71%	4.35%	1.73%	1.47%	1.77%	1.66%
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 IIRLX in my portfolio?

With a correlation of 0.98, IPLIX and IIRLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IPLIX or IIRLX?

IIRLX has higher volatility (6.14%) compared to IPLIX (5.22%). In terms of maximum drawdown, IPLIX dropped -51.01% vs IIRLX's -50.33%.

Which has better risk-adjusted returns?

IIRLX currently has the higher Sharpe Ratio (2.53 vs 2.41), 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.