IRSPX vs. DTDRX

Last updated Jun 4, 2026

IRSPX (Voya Target Retirement 2045 Fund) and DTDRX (Dimensional 2065 Target Date Retirement Income Fund) are both Target Retirement Date funds. Over the past 5 years, IRSPX returned 10.27%/yr vs 11.65%/yr for DTDRX. With a 0.95 correlation, they move nearly in lockstep. IRSPX charges 0.19%/yr vs 0.22%/yr for DTDRX.

Performance

IRSPX vs. DTDRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Target Retirement 2045 Fund (IRSPX) and Dimensional 2065 Target Date Retirement Income Fund (DTDRX). 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 IRSPX having a 12.56% return and DTDRX slightly lower at 12.39%.

IRSPX

• 1D: 0.39%
• 1M: 5.50%
• YTD: 12.56%
• 6M: 13.39%
• 1Y: 28.63%
• 3Y*: 19.58%
• 5Y*: 10.27%
• 10Y*: 11.85%

DTDRX

• 1D: 0.36%
• 1M: 5.00%
• YTD: 12.39%
• 6M: 13.11%
• 1Y: 28.08%
• 3Y*: 20.33%
• 5Y*: 11.65%
• 10Y*: —

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

IRSPX vs. DTDRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IRSPX Voya Target Retirement 2045 Fund	12.56%	20.26%	14.80%	20.14%	-18.48%	18.90%	17.49%
DTDRX Dimensional 2065 Target Date Retirement Income Fund	12.39%	19.28%	17.13%	21.29%	-15.25%	20.99%	13.15%

Correlation

The correlation between IRSPX and DTDRX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.95

The correlation between IRSPX and DTDRX shifts across timeframes, from 0.79 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IRSPX vs. DTDRX — Risk / Return Rank

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

IRSPX

IRSPX Risk / Return Rank: 82
IRSPX Sharpe Ratio Rank: 84
IRSPX Sortino Ratio Rank: 82
IRSPX Omega Ratio Rank: 76
IRSPX Calmar Ratio Rank: 78
IRSPX Martin Ratio Rank: 88

DTDRX

DTDRX Risk / Return Rank: 83
DTDRX Sharpe Ratio Rank: 87
DTDRX Sortino Ratio Rank: 84
DTDRX Omega Ratio Rank: 79
DTDRX Calmar Ratio Rank: 80
DTDRX Martin Ratio Rank: 85

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.

IRSPX vs. DTDRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2045 Fund (IRSPX) and Dimensional 2065 Target Date Retirement Income Fund (DTDRX). 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.

	IRSPX	DTDRX	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.86	-0.12
Sortino ratio: Return per unit of downside risk	3.93	4.02	-0.09
Omega ratio: Gain probability vs. loss probability	1.51	1.52	-0.01
Calmar ratio: Return relative to maximum drawdown	3.56	3.69	-0.13
Martin ratio: Return relative to average drawdown	17.12	16.19	+0.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRSPX vs. DTDRX - Sharpe Ratio Comparison

The current IRSPX Sharpe Ratio is 2.74, which is comparable to the DTDRX Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of IRSPX and DTDRX, 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

	IRSPX	DTDRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.74	2.86	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.80	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.70	+0.05

Drawdowns

IRSPX vs. DTDRX - Drawdown Comparison

The maximum IRSPX drawdown since its inception was -32.60%, roughly equal to the maximum DTDRX drawdown of -33.33%. Use the drawdown chart below to compare losses from any high point for IRSPX and DTDRX.

Drawdown Indicators

	IRSPX	DTDRX	Difference
Max Drawdown Largest peak-to-trough decline	-32.60%	-33.33%	+0.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-8.57%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-15.95%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	-23.47%	-2.33%
Max Drawdown (10Y) Largest decline over 10 years	-32.60%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.41%	-5.10%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.88%	-0.08%

Volatility

IRSPX vs. DTDRX - Volatility Comparison

Voya Target Retirement 2045 Fund (IRSPX) has a higher volatility of 3.55% compared to Dimensional 2065 Target Date Retirement Income Fund (DTDRX) at 3.10%. This indicates that IRSPX's price experiences larger fluctuations and is considered to be riskier than DTDRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRSPX	DTDRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.10%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	8.68%	+0.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	11.04%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	14.87%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	19.17%	-3.38%

IRSPX vs. DTDRX - Expense Ratio Comparison

IRSPX has a 0.19% expense ratio, which is lower than DTDRX's 0.22% expense ratio. Despite the difference, 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. DTDRX - Dividend Comparison

IRSPX's dividend yield for the trailing twelve months is around 10.37%, more than DTDRX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DTDRX Dimensional 2065 Target Date Retirement Income Fund	1.37%	1.31%	2.07%	1.94%	2.01%	1.53%	2.55%	0.00%	0.00%	0.00%	0.00%	0.00%
IRSPX Voya Target Retirement 2045 Fund	10.37%	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 DTDRX in my portfolio?

IRSPX and DTDRX have a correlation of 0.79, 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 DTDRX?

IRSPX has higher volatility (3.55%) compared to DTDRX (3.10%). In terms of maximum drawdown, IRSPX dropped -32.60% vs DTDRX's -33.33%.

Which has better risk-adjusted returns?

DTDRX currently has the higher Sharpe Ratio (2.86 vs 2.74), 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.