IRSOX vs. VYMSX

Last updated Jun 6, 2026

IRSOX (Voya Target Retirement 2040 Fund) and VYMSX (Voya Mid Cap Research Enhanced Index Fund) are both mutual funds - IRSOX is a Target Retirement Date fund managed by Voya, while VYMSX is a Mid Cap Blend Equities fund managed by Voya. Over the past 10 years, IRSOX returned 11.10%/yr vs 10.30%/yr for VYMSX. Their correlation of 0.86 suggests significant overlap in exposure. IRSOX charges 0.23%/yr vs 0.82%/yr for VYMSX.

Performance

IRSOX vs. VYMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Target Retirement 2040 Fund (IRSOX) and Voya Mid Cap Research Enhanced Index Fund (VYMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRSOX achieves a 10.89% return, which is significantly lower than VYMSX's 14.90% return. Over the past 10 years, IRSOX has outperformed VYMSX with an annualized return of 11.10%, while VYMSX has yielded a comparatively lower 10.30% annualized return.

IRSOX

• 1D: 0.00%
• 1M: 1.72%
• YTD: 10.89%
• 6M: 11.54%
• 1Y: 25.75%
• 3Y*: 18.23%
• 5Y*: 9.15%
• 10Y*: 11.10%

VYMSX

• 1D: 0.55%
• 1M: 2.16%
• YTD: 14.90%
• 6M: 13.55%
• 1Y: 25.42%
• 3Y*: 17.15%
• 5Y*: 8.27%
• 10Y*: 10.30%

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

IRSOX vs. VYMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRSOX Voya Target Retirement 2040 Fund	10.89%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%
VYMSX Voya Mid Cap Research Enhanced Index Fund	14.90%	6.79%	14.92%	17.35%	-14.63%	27.47%	8.26%	28.18%	-14.55%	13.43%

Correlation

The correlation between IRSOX and VYMSX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 26, 2012	0.86

Over the past year, the correlation between IRSOX and VYMSX has dropped to 0.63 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

IRSOX vs. VYMSX — Risk / Return Rank

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

IRSOX

IRSOX Risk / Return Rank: 80
IRSOX Sharpe Ratio Rank: 81
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 76
IRSOX Calmar Ratio Rank: 76
IRSOX Martin Ratio Rank: 87

VYMSX

VYMSX Risk / Return Rank: 42
VYMSX Sharpe Ratio Rank: 36
VYMSX Sortino Ratio Rank: 36
VYMSX Omega Ratio Rank: 31
VYMSX Calmar Ratio Rank: 54
VYMSX Martin Ratio Rank: 55

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.

IRSOX vs. VYMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2040 Fund (IRSOX) and Voya Mid Cap Research Enhanced Index Fund (VYMSX). 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.

	IRSOX	VYMSX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	1.65	+0.94
Sortino ratio: Return per unit of downside risk	3.77	2.38	+1.39
Omega ratio: Gain probability vs. loss probability	1.48	1.28	+0.20
Calmar ratio: Return relative to maximum drawdown	3.33	2.73	+0.60
Martin ratio: Return relative to average drawdown	15.91	10.64	+5.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRSOX vs. VYMSX - Sharpe Ratio Comparison

The current IRSOX Sharpe Ratio is 2.59, which is higher than the VYMSX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of IRSOX and VYMSX, 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

	IRSOX	VYMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	1.65	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.37	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.46	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.40	+0.35

Drawdowns

IRSOX vs. VYMSX - Drawdown Comparison

The maximum IRSOX drawdown since its inception was -31.25%, smaller than the maximum VYMSX drawdown of -57.85%. Use the drawdown chart below to compare losses from any high point for IRSOX and VYMSX.

Drawdown Indicators

	IRSOX	VYMSX	Difference
Max Drawdown Largest peak-to-trough decline	-31.25%	-57.85%	+26.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.38%	-10.34%	+1.96%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-24.02%	+10.18%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-31.71%	+6.47%
Max Drawdown (10Y) Largest decline over 10 years	-31.25%	-43.69%	+12.44%
Current Drawdown Current decline from peak	-0.70%	-0.38%	-0.32%
Average Drawdown Average peak-to-trough decline	-4.28%	-9.16%	+4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	2.57%	-0.88%

Volatility

IRSOX vs. VYMSX - Volatility Comparison

The current volatility for Voya Target Retirement 2040 Fund (IRSOX) is 3.34%, while Voya Mid Cap Research Enhanced Index Fund (VYMSX) has a volatility of 4.82%. This indicates that IRSOX experiences smaller price fluctuations and is considered to be less risky than VYMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRSOX	VYMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.82%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	8.79%	12.37%	-3.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	17.08%	-6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	23.33%	-9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.80%	22.90%	-8.10%

IRSOX vs. VYMSX - Expense Ratio Comparison

IRSOX has a 0.23% expense ratio, which is lower than VYMSX's 0.82% expense ratio.

Dividends

IRSOX vs. VYMSX - Dividend Comparison

IRSOX's dividend yield for the trailing twelve months is around 12.36%, less than VYMSX's 25.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.36%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
VYMSX Voya Mid Cap Research Enhanced Index Fund	25.91%	29.77%	11.50%	0.96%	6.78%	14.81%	0.79%	2.00%	13.24%	7.58%	1.83%	6.83%

Frequently Asked Questions

Can I hold both IRSOX and VYMSX in my portfolio?

IRSOX and VYMSX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRSOX or VYMSX?

VYMSX has higher volatility (4.82%) compared to IRSOX (3.34%). In terms of maximum drawdown, IRSOX dropped -31.25% vs VYMSX's -57.85%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.59 vs 1.65), 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.