IPSIX vs. VSTCX

Last updated Jun 23, 2026

IPSIX (Voya Index Plus SmallCap Portfolio) and VSTCX (Vanguard Strategic Small-Cap Equity Fund) are both Small Cap Blend Equities funds. Over the past 10 years, IPSIX returned 10.52%/yr vs 13.03%/yr for VSTCX. With a 0.97 correlation, they move nearly in lockstep. IPSIX charges 0.60%/yr vs 0.26%/yr for VSTCX.

Performance

IPSIX vs. VSTCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Index Plus SmallCap Portfolio (IPSIX) and Vanguard Strategic Small-Cap Equity Fund (VSTCX). 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 IPSIX having a 21.20% return and VSTCX slightly lower at 20.84%. Over the past 10 years, IPSIX has underperformed VSTCX with an annualized return of 10.52%, while VSTCX has yielded a comparatively higher 13.03% annualized return.

IPSIX

• 1D: 1.79%
• 1M: 4.75%
• YTD: 21.20%
• 6M: 18.13%
• 1Y: 40.69%
• 3Y*: 16.89%
• 5Y*: 9.43%
• 10Y*: 10.52%

VSTCX

• 1D: 1.49%
• 1M: 4.62%
• YTD: 20.84%
• 6M: 18.00%
• 1Y: 45.39%
• 3Y*: 21.98%
• 5Y*: 13.15%
• 10Y*: 13.03%

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

IPSIX vs. VSTCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPSIX Voya Index Plus SmallCap Portfolio	21.20%	8.46%	8.64%	18.17%	-13.82%	28.42%	5.25%	21.07%	-12.34%	9.94%
VSTCX Vanguard Strategic Small-Cap Equity Fund	20.84%	15.20%	15.40%	21.34%	-13.00%	33.53%	8.38%	22.18%	-11.87%	9.21%

Correlation

The correlation between IPSIX and VSTCX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 20, 2006	0.97

The correlation between IPSIX and VSTCX has been stable across timeframes, ranging from 0.87 to 0.97 - a consistent structural relationship.

Return for Risk

IPSIX vs. VSTCX — Risk / Return Rank

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

IPSIX

IPSIX Risk / Return Rank: 86
IPSIX Sharpe Ratio Rank: 86
IPSIX Sortino Ratio Rank: 84
IPSIX Omega Ratio Rank: 70
IPSIX Calmar Ratio Rank: 96
IPSIX Martin Ratio Rank: 95

VSTCX

VSTCX Risk / Return Rank: 85
VSTCX Sharpe Ratio Rank: 84
VSTCX Sortino Ratio Rank: 81
VSTCX Omega Ratio Rank: 71
VSTCX Calmar Ratio Rank: 96
VSTCX Martin Ratio Rank: 95

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.

IPSIX vs. VSTCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Plus SmallCap Portfolio (IPSIX) and Vanguard Strategic Small-Cap Equity Fund (VSTCX). 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	VSTCX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.54	+0.05
Sortino ratio: Return per unit of downside risk	3.69	3.51	+0.18
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	6.00	5.62	+0.39
Martin ratio: Return relative to average drawdown	19.92	19.82	+0.11

IPSIX vs. VSTCX - Sharpe Ratio Comparison

The current IPSIX Sharpe Ratio is 2.59, which is comparable to the VSTCX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of IPSIX and VSTCX, 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. VSTCX - Drawdown Comparison

The maximum IPSIX drawdown since its inception was -58.01%, smaller than the maximum VSTCX drawdown of -62.50%. Use the drawdown chart below to compare losses from any high point for IPSIX and VSTCX.

Drawdown Indicators

	IPSIX	VSTCX	Difference
Max Drawdown Largest peak-to-trough decline	-58.01%	-62.50%	+4.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-8.08%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-26.60%	-27.47%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-27.47%	+0.87%
Max Drawdown (10Y) Largest decline over 10 years	-47.92%	-48.08%	+0.16%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.69%	-10.63%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.29%	-0.03%

Volatility

IPSIX vs. VSTCX - Volatility Comparison

Voya Index Plus SmallCap Portfolio (IPSIX) and Vanguard Strategic Small-Cap Equity Fund (VSTCX) have volatilities of 5.36% and 5.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPSIX	VSTCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	5.38%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	12.52%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.68%	17.85%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.04%	22.02%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.76%	23.49%	+0.27%

IPSIX vs. VSTCX - Expense Ratio Comparison

IPSIX has a 0.60% expense ratio, which is higher than VSTCX's 0.26% expense ratio.

Dividends

IPSIX vs. VSTCX - Dividend Comparison

IPSIX's dividend yield for the trailing twelve months is around 9.02%, more than VSTCX's 6.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPSIX Voya Index Plus SmallCap Portfolio	9.02%	5.72%	4.44%	4.20%	19.88%	0.65%	1.98%	16.87%	18.12%	9.69%	3.19%	0.93%
VSTCX Vanguard Strategic Small-Cap Equity Fund	6.25%	7.55%	9.66%	2.50%	7.44%	19.92%	1.24%	4.14%	11.74%	5.76%	1.35%	2.33%

Frequently Asked Questions

Can I hold both IPSIX and VSTCX in my portfolio?

IPSIX and VSTCX have a correlation of 0.87, 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 VSTCX?

VSTCX has higher volatility (5.38%) compared to IPSIX (5.36%). In terms of maximum drawdown, IPSIX dropped -58.01% vs VSTCX's -62.50%.

Which has better risk-adjusted returns?

IPSIX currently has the higher Sharpe Ratio (2.59 vs 2.54), 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.