IRMIX vs. VTMFX

Last updated Jun 23, 2026

IRMIX (Voya Retirement Moderate Portfolio) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, IRMIX returned 6.62%/yr vs 8.63%/yr for VTMFX. Their correlation of 0.92 suggests significant overlap in exposure. IRMIX charges 0.27%/yr vs 0.05%/yr for VTMFX.

Performance

IRMIX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Retirement Moderate Portfolio (IRMIX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IRMIX having a 5.35% return and VTMFX slightly higher at 5.44%. Over the past 10 years, IRMIX has underperformed VTMFX with an annualized return of 6.62%, while VTMFX has yielded a comparatively higher 8.63% annualized return.

IRMIX

• 1D: 0.66%
• 1M: 0.85%
• YTD: 5.35%
• 6M: 5.35%
• 1Y: 14.10%
• 3Y*: 10.20%
• 5Y*: 5.01%
• 10Y*: 6.62%

VTMFX

• 1D: 0.57%
• 1M: 0.96%
• YTD: 5.44%
• 6M: 5.27%
• 1Y: 15.82%
• 3Y*: 11.93%
• 5Y*: 7.23%
• 10Y*: 8.63%

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

IRMIX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRMIX Voya Retirement Moderate Portfolio	5.35%	12.07%	8.18%	11.66%	-14.89%	10.03%	12.48%	17.58%	-6.85%	12.23%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.44%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between IRMIX and VTMFX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 9, 2009	0.92

The correlation between IRMIX and VTMFX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

IRMIX vs. VTMFX — Risk / Return Rank

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

IRMIX

IRMIX Risk / Return Rank: 78
IRMIX Sharpe Ratio Rank: 78
IRMIX Sortino Ratio Rank: 80
IRMIX Omega Ratio Rank: 77
IRMIX Calmar Ratio Rank: 73
IRMIX Martin Ratio Rank: 84

VTMFX

VTMFX Risk / Return Rank: 76
VTMFX Sharpe Ratio Rank: 81
VTMFX Sortino Ratio Rank: 79
VTMFX Omega Ratio Rank: 79
VTMFX Calmar Ratio Rank: 64
VTMFX 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.

IRMIX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Retirement Moderate Portfolio (IRMIX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	IRMIX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.45	-0.07
Sortino ratio: Return per unit of downside risk	3.50	3.45	+0.05
Omega ratio: Gain probability vs. loss probability	1.45	1.47	-0.01
Calmar ratio: Return relative to maximum drawdown	3.15	2.93	+0.22
Martin ratio: Return relative to average drawdown	14.64	13.72	+0.92

IRMIX vs. VTMFX - Sharpe Ratio Comparison

The current IRMIX Sharpe Ratio is 2.37, which is comparable to the VTMFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of IRMIX and VTMFX, 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

IRMIX vs. VTMFX - Drawdown Comparison

The maximum IRMIX drawdown since its inception was -19.50%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for IRMIX and VTMFX.

Drawdown Indicators

	IRMIX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-28.49%	+8.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.84%	-5.38%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-6.69%	-10.61%	+3.92%
Max Drawdown (5Y) Largest decline over 5 years	-19.50%	-17.40%	-2.10%
Max Drawdown (10Y) Largest decline over 10 years	-19.50%	-21.87%	+2.37%
Current Drawdown Current decline from peak	-0.37%	-0.56%	+0.19%
Average Drawdown Average peak-to-trough decline	-2.95%	-3.54%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.15%	-0.15%

Volatility

IRMIX vs. VTMFX - Volatility Comparison

Voya Retirement Moderate Portfolio (IRMIX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 2.53% and 2.50%, 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

	IRMIX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.50%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	5.25%	5.21%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	6.44%	6.45%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	8.57%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.46%	9.15%	-0.69%

IRMIX vs. VTMFX - Expense Ratio Comparison

IRMIX has a 0.27% expense ratio, which is higher than VTMFX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IRMIX vs. VTMFX - Dividend Comparison

IRMIX's dividend yield for the trailing twelve months is around 10.61%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRMIX Voya Retirement Moderate Portfolio	10.61%	11.18%	5.94%	6.51%	15.75%	6.33%	5.57%	6.59%	4.80%	7.60%	7.39%	9.23%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both IRMIX and VTMFX in my portfolio?

IRMIX and VTMFX 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, IRMIX or VTMFX?

IRMIX has higher volatility (2.53%) compared to VTMFX (2.50%). In terms of maximum drawdown, IRMIX dropped -19.50% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.45 vs 2.37), 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.