IPSIX vs. TSCSX

Last updated Aug 1, 2026

IPSIX (Voya Index Plus SmallCap Portfolio) and TSCSX (Thrivent Small Cap Stock Fund Class S) are both Small Cap Blend Equities funds. Over the past 10 years, IPSIX returned 10.27%/yr vs 12.49%/yr for TSCSX. Their correlation of 0.95 means they have usually moved in the same direction. IPSIX charges 0.60%/yr vs 0.80%/yr for TSCSX.

Performance

IPSIX vs. TSCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Index Plus SmallCap Portfolio (IPSIX) and Thrivent Small Cap Stock Fund Class S (TSCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPSIX achieves a 23.34% return, which is significantly higher than TSCSX's 15.40% return. Over the past 10 years, IPSIX has underperformed TSCSX with an annualized return of 10.27%, while TSCSX has yielded a comparatively higher 12.49% annualized return.

IPSIX

• 1D: 0.66%
• 1M: 0.12%
• 6M: 17.88%
• YTD: 23.34%
• 1Y: 37.90%
• 3Y*: 14.94%
• 5Y*: 9.48%
• 10Y*: 10.27%
• ALL TIME*: 8.45%

TSCSX

• 1D: 1.55%
• 1M: -2.54%
• 6M: 9.18%
• YTD: 15.40%
• 1Y: 23.97%
• 3Y*: 10.61%
• 5Y*: 6.63%
• 10Y*: 12.49%
• ALL TIME*: 9.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IPSIX Voya Index Plus SmallCap Portfolio	$0.00	$0.00	$0.00
TSCSX Thrivent Small Cap Stock Fund Class S	$0.00	$0.00	$0.00

IPSIX vs. TSCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPSIX Voya Index Plus SmallCap Portfolio	23.34%	8.46%	8.64%	18.17%	-13.82%	28.42%	5.25%	21.07%	-12.34%	9.94%
TSCSX Thrivent Small Cap Stock Fund Class S	15.40%	2.36%	12.73%	12.47%	-10.94%	24.22%	22.87%	27.92%	-10.52%	21.22%

Correlation

The correlation between IPSIX and TSCSX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Dec 29, 1997	0.95

The correlation between IPSIX and TSCSX shifts across timeframes, from 0.85 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IPSIX vs. TSCSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPSIX

IPSIX Risk / Return Rank: 91
IPSIX Sharpe Ratio Rank: 91
IPSIX Sortino Ratio Rank: 90
IPSIX Omega Ratio Rank: 82
IPSIX Calmar Ratio Rank: 97
IPSIX Martin Ratio Rank: 96

TSCSX

TSCSX Risk / Return Rank: 42
TSCSX Sharpe Ratio Rank: 40
TSCSX Sortino Ratio Rank: 46
TSCSX Omega Ratio Rank: 37
TSCSX Calmar Ratio Rank: 48
TSCSX Martin Ratio Rank: 41

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IPSIX vs. TSCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Plus SmallCap Portfolio (IPSIX) and Thrivent Small Cap Stock Fund Class S (TSCSX). 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.

	IPSIX	TSCSX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.18	+1.16
Sortino ratio: Return per unit of downside risk	3.44	1.81	+1.62
Omega ratio: Gain probability vs. loss probability	1.39	1.21	+0.19
Calmar ratio: Return relative to maximum drawdown	5.24	1.77	+3.47
Martin ratio: Return relative to average drawdown	17.76	5.83	+11.92

IPSIX vs. TSCSX - Sharpe Ratio Comparison

The current IPSIX Sharpe Ratio is 2.34, which is higher than the TSCSX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of IPSIX and TSCSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPSIX vs. TSCSX - Drawdown Comparison

The maximum IPSIX drawdown since its inception was -58.01%, roughly equal to the maximum TSCSX drawdown of -56.66%. Use the drawdown chart below to compare losses from any high point for IPSIX and TSCSX.

Drawdown Indicators

	IPSIX	TSCSX	Difference
Max Drawdown Largest peak-to-trough decline	-58.01%	-56.66%	-1.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-11.53%	+3.90%
Max Drawdown (3Y) Largest decline over 3 years	-26.60%	-26.84%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-27.04%	+0.44%
Max Drawdown (10Y) Largest decline over 10 years	-47.92%	-41.63%	-6.29%
Current Drawdown Current decline from peak	-1.29%	-4.05%	+2.76%
Average Drawdown Average peak-to-trough decline	-9.66%	-10.20%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	3.51%	-1.27%

Volatility

IPSIX vs. TSCSX - Volatility Comparison

The current volatility for Voya Index Plus SmallCap Portfolio (IPSIX) is 3.53%, while Thrivent Small Cap Stock Fund Class S (TSCSX) has a volatility of 4.07%. This indicates that IPSIX experiences smaller price fluctuations and is considered to be less risky than TSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPSIX	TSCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	4.07%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	12.72%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	17.42%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	21.60%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	22.08%	+1.61%

IPSIX vs. TSCSX - Expense Ratio Comparison

IPSIX has a 0.60% expense ratio, which is lower than TSCSX's 0.80% expense ratio.

Dividends

IPSIX vs. TSCSX - Dividend Comparison

IPSIX's dividend yield for the trailing twelve months is around 8.86%, more than TSCSX's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPSIX Voya Index Plus SmallCap Portfolio	8.86%	5.72%	4.44%	4.20%	19.88%	0.65%	1.98%	16.87%	18.12%	9.69%	3.19%	0.93%
TSCSX Thrivent Small Cap Stock Fund Class S	2.04%	2.36%	3.18%	0.46%	9.60%	11.33%	1.60%	8.72%	15.00%	6.68%	4.19%	8.34%

Frequently Asked Questions

Can I hold both IPSIX and TSCSX in my portfolio?

IPSIX and TSCSX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPSIX or TSCSX?

TSCSX has higher volatility (4.07%) compared to IPSIX (3.53%). In terms of maximum drawdown, IPSIX dropped -58.01% vs TSCSX's -56.66%.

Which has better risk-adjusted returns?

IPSIX currently has the higher Sharpe Ratio (2.34 vs 1.18), 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.