IPMIX vs. IEDAX

Last updated Jun 4, 2026

IPMIX (Voya Index Plus MidCap Portfolio) and IEDAX (Voya Large Cap Value Fund) are both mutual funds - IPMIX is a Mid Cap Blend Equities fund managed by Voya, while IEDAX is a Large Cap Value Equities fund managed by Voya. Over the past 10 years, IPMIX returned 10.51%/yr vs 12.43%/yr for IEDAX. Their correlation of 0.90 suggests significant overlap in exposure. IPMIX charges 0.60%/yr vs 1.10%/yr for IEDAX.

Performance

IPMIX vs. IEDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Index Plus MidCap Portfolio (IPMIX) 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, IPMIX achieves a 14.23% return, which is significantly higher than IEDAX's 8.93% return. Over the past 10 years, IPMIX has underperformed IEDAX with an annualized return of 10.51%, while IEDAX has yielded a comparatively higher 12.43% annualized return.

IPMIX

• 1D: 1.02%
• 1M: 4.20%
• YTD: 14.23%
• 6M: 14.50%
• 1Y: 25.41%
• 3Y*: 17.22%
• 5Y*: 8.79%
• 10Y*: 10.51%

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)

IPMIX vs. IEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPMIX Voya Index Plus MidCap Portfolio	14.23%	8.27%	15.17%	17.49%	-14.10%	27.70%	8.18%	26.62%	-14.34%	13.66%
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 IPMIX and IEDAX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 21, 2007	0.90

The correlation between IPMIX and IEDAX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

Return for Risk

IPMIX vs. IEDAX — Risk / Return Rank

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

IPMIX

IPMIX Risk / Return Rank: 33
IPMIX Sharpe Ratio Rank: 26
IPMIX Sortino Ratio Rank: 24
IPMIX Omega Ratio Rank: 36
IPMIX Calmar Ratio Rank: 40
IPMIX Martin Ratio Rank: 40

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.

IPMIX vs. IEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Plus MidCap Portfolio (IPMIX) 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.

	IPMIX	IEDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.79	-0.32
Sortino ratio: Return per unit of downside risk	2.05	2.67	-0.62
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.39	2.04	+0.34
Martin ratio: Return relative to average drawdown	8.63	7.97	+0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPMIX vs. IEDAX - Sharpe Ratio Comparison

The current IPMIX Sharpe Ratio is 1.47, which is comparable to the IEDAX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of IPMIX 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

	IPMIX	IEDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.79	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.62	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.67	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.49	-0.09

Drawdowns

IPMIX vs. IEDAX - Drawdown Comparison

The maximum IPMIX drawdown since its inception was -54.71%, which is greater than IEDAX's maximum drawdown of -47.31%. Use the drawdown chart below to compare losses from any high point for IPMIX and IEDAX.

Drawdown Indicators

	IPMIX	IEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.71%	-47.31%	-7.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.67%	-10.04%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-23.97%	-22.40%	-1.57%
Max Drawdown (5Y) Largest decline over 5 years	-24.28%	-22.40%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	-43.76%	-39.36%	-4.40%
Current Drawdown Current decline from peak	-7.47%	0.00%	-7.47%
Average Drawdown Average peak-to-trough decline	-10.15%	-6.49%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.48%	+0.88%

Volatility

IPMIX vs. IEDAX - Volatility Comparison

Voya Index Plus MidCap Portfolio (IPMIX) has a higher volatility of 14.24% compared to Voya Large Cap Value Fund (IEDAX) at 3.22%. This indicates that IPMIX'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

	IPMIX	IEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.24%	3.22%	+11.02%
Volatility (6M) Calculated over the trailing 6-month period	17.36%	8.85%	+8.51%
Volatility (1Y) Calculated over the trailing 1-year period	20.56%	11.45%	+9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	17.23%	+4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.08%	18.82%	+3.26%

IPMIX vs. IEDAX - Expense Ratio Comparison

IPMIX has a 0.60% expense ratio, which is lower than IEDAX's 1.10% expense ratio.

Dividends

IPMIX vs. IEDAX - Dividend Comparison

IPMIX's dividend yield for the trailing twelve months is around 6.61%, less 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%
IPMIX Voya Index Plus MidCap Portfolio	6.61%	7.59%	4.15%	4.66%	29.03%	1.13%	1.20%	10.96%	16.62%	7.62%	10.43%	17.41%

Frequently Asked Questions

Can I hold both IPMIX and IEDAX in my portfolio?

IPMIX and IEDAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPMIX or IEDAX?

IPMIX has higher volatility (14.24%) compared to IEDAX (3.22%). In terms of maximum drawdown, IPMIX dropped -54.71% vs IEDAX's -47.31%.

Which has better risk-adjusted returns?

IEDAX currently has the higher Sharpe Ratio (1.79 vs 1.47), 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.