IRSPX vs. DRIQX

Last updated Aug 1, 2026

IRSPX (Voya Target Retirement 2045 Fund) and DRIQX (Dimensional 2015 Target Date Retirement Income Fund) are both Target Retirement Date funds. Over the past 10 years, IRSPX returned 11.31%/yr vs 4.48%/yr for DRIQX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. IRSPX charges 0.19%/yr vs 0.17%/yr for DRIQX.

Performance

IRSPX vs. DRIQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Target Retirement 2045 Fund (IRSPX) and Dimensional 2015 Target Date Retirement Income Fund (DRIQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRSPX achieves a 10.29% return, which is significantly higher than DRIQX's 3.01% return. Over the past 10 years, IRSPX has outperformed DRIQX with an annualized return of 11.31%, while DRIQX has yielded a comparatively lower 4.48% annualized return.

IRSPX

• 1D: 1.81%
• 1M: -0.57%
• 6M: 6.33%
• YTD: 10.29%
• 1Y: 21.78%
• 3Y*: 16.43%
• 5Y*: 9.40%
• 10Y*: 11.31%
• ALL TIME*: 10.74%

DRIQX

• 1D: 0.35%
• 1M: -0.44%
• 6M: 1.84%
• YTD: 3.01%
• 1Y: 6.61%
• 3Y*: 6.44%
• 5Y*: 1.86%
• 10Y*: 4.48%
• ALL TIME*: 5.07%

*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)
DRIQX Dimensional 2015 Target Date Retirement Income Fund	$0.00	$0.00	$0.00
IRSPX Voya Target Retirement 2045 Fund	$0.00	$0.00	$0.00

IRSPX vs. DRIQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRSPX Voya Target Retirement 2045 Fund	10.29%	20.26%	14.80%	20.14%	-18.48%	18.90%	17.49%	24.79%	-9.02%	20.77%
DRIQX Dimensional 2015 Target Date Retirement Income Fund	3.01%	8.83%	5.47%	8.17%	-14.79%	7.79%	14.31%	14.08%	-4.20%	7.82%

Correlation

The correlation between IRSPX and DRIQX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.60
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.60

The correlation between IRSPX and DRIQX shifts across timeframes, from 0.60 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IRSPX vs. DRIQX — Risk / Return Rank

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

IRSPX

IRSPX Risk / Return Rank: 73
IRSPX Sharpe Ratio Rank: 70
IRSPX Sortino Ratio Rank: 71
IRSPX Omega Ratio Rank: 68
IRSPX Calmar Ratio Rank: 73
IRSPX Martin Ratio Rank: 84

DRIQX

DRIQX Risk / Return Rank: 53
DRIQX Sharpe Ratio Rank: 54
DRIQX Sortino Ratio Rank: 54
DRIQX Omega Ratio Rank: 54
DRIQX Calmar Ratio Rank: 48
DRIQX Martin Ratio Rank: 53

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.

IRSPX vs. DRIQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2045 Fund (IRSPX) and Dimensional 2015 Target Date Retirement Income Fund (DRIQX). 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.

	IRSPX	DRIQX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.46	+0.25
Sortino ratio: Return per unit of downside risk	2.48	2.10	+0.38
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.44	1.90	+0.54
Martin ratio: Return relative to average drawdown	10.81	7.47	+3.35

IRSPX vs. DRIQX - Sharpe Ratio Comparison

The current IRSPX Sharpe Ratio is 1.71, which is comparable to the DRIQX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of IRSPX and DRIQX, 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

IRSPX vs. DRIQX - Drawdown Comparison

The maximum IRSPX drawdown since its inception was -32.60%, which is greater than DRIQX's maximum drawdown of -19.86%. Use the drawdown chart below to compare losses from any high point for IRSPX and DRIQX.

Drawdown Indicators

	IRSPX	DRIQX	Difference
Max Drawdown Largest peak-to-trough decline	-32.60%	-19.86%	-12.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-3.47%	-5.52%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-5.12%	-10.06%
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	-19.86%	-5.94%
Max Drawdown (10Y) Largest decline over 10 years	-32.60%	-19.86%	-12.74%
Current Drawdown Current decline from peak	-2.02%	-1.30%	-0.72%
Average Drawdown Average peak-to-trough decline	-4.37%	-3.84%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	0.88%	+1.07%

Volatility

IRSPX vs. DRIQX - Volatility Comparison

Voya Target Retirement 2045 Fund (IRSPX) has a higher volatility of 3.62% compared to Dimensional 2015 Target Date Retirement Income Fund (DRIQX) at 1.10%. This indicates that IRSPX's price experiences larger fluctuations and is considered to be riskier than DRIQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRSPX	DRIQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	1.10%	+2.52%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	3.60%	+6.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	4.52%	+8.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	7.07%	+7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	6.58%	+9.18%

IRSPX vs. DRIQX - Expense Ratio Comparison

IRSPX has a 0.19% expense ratio, which is higher than DRIQX's 0.17% 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

IRSPX vs. DRIQX - Dividend Comparison

IRSPX's dividend yield for the trailing twelve months is around 10.59%, more than DRIQX's 6.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRIQX Dimensional 2015 Target Date Retirement Income Fund	6.36%	4.95%	4.53%	4.28%	6.51%	4.54%	3.76%	2.05%	2.23%	1.66%	1.37%	0.00%
IRSPX Voya Target Retirement 2045 Fund	10.59%	11.68%	3.04%	2.02%	6.08%	22.70%	3.26%	4.76%	5.54%	5.68%	2.00%	0.44%

Frequently Asked Questions

Can I hold both IRSPX and DRIQX in my portfolio?

IRSPX and DRIQX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRSPX or DRIQX?

IRSPX has higher volatility (3.62%) compared to DRIQX (1.10%). In terms of maximum drawdown, IRSPX dropped -32.60% vs DRIQX's -19.86%.

Which has better risk-adjusted returns?

IRSPX currently has the higher Sharpe Ratio (1.71 vs 1.46), 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.