IRSQX vs. IRSOX

Last updated Jun 24, 2026

IRSQX (Voya Target Retirement 2050 Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds from Voya. Over the past 10 years, IRSQX returned 12.30%/yr vs 11.55%/yr for IRSOX. With a 1.00 correlation, they move nearly in lockstep. IRSQX charges 0.22%/yr vs 0.23%/yr for IRSOX.

Performance

IRSQX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Target Retirement 2050 Fund (IRSQX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRSQX achieves a 12.32% return, which is significantly higher than IRSOX's 11.08% return. Over the past 10 years, IRSQX has outperformed IRSOX with an annualized return of 12.30%, while IRSOX has yielded a comparatively lower 11.55% annualized return.

IRSQX

• 1D: -0.06%
• 1M: 1.68%
• YTD: 12.32%
• 6M: 11.62%
• 1Y: 27.72%
• 3Y*: 19.56%
• 5Y*: 10.33%
• 10Y*: 12.30%

IRSOX

• 1D: -0.06%
• 1M: 1.66%
• YTD: 11.08%
• 6M: 10.59%
• 1Y: 24.92%
• 3Y*: 17.89%
• 5Y*: 9.28%
• 10Y*: 11.55%

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

IRSQX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRSQX Voya Target Retirement 2050 Fund	12.32%	20.71%	15.32%	20.47%	-18.75%	18.82%	17.28%	25.25%	-9.37%	20.99%
IRSOX Voya Target Retirement 2040 Fund	11.08%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between IRSQX and IRSOX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012	1.00

The correlation between IRSQX and IRSOX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

IRSQX vs. IRSOX — Risk / Return Rank

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

IRSQX

IRSQX Risk / Return Rank: 81
IRSQX Sharpe Ratio Rank: 81
IRSQX Sortino Ratio Rank: 80
IRSQX Omega Ratio Rank: 76
IRSQX Calmar Ratio Rank: 79
IRSQX Martin Ratio Rank: 88

IRSOX

IRSOX Risk / Return Rank: 82
IRSOX Sharpe Ratio Rank: 83
IRSOX Sortino Ratio Rank: 82
IRSOX Omega Ratio Rank: 78
IRSOX Calmar Ratio Rank: 79
IRSOX Martin Ratio Rank: 88

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.

IRSQX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2050 Fund (IRSQX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	IRSQX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.50	-0.04
Sortino ratio: Return per unit of downside risk	3.47	3.58	-0.11
Omega ratio: Gain probability vs. loss probability	1.45	1.47	-0.01
Calmar ratio: Return relative to maximum drawdown	3.36	3.39	-0.02
Martin ratio: Return relative to average drawdown	15.75	15.74	+0.01

IRSQX vs. IRSOX - Sharpe Ratio Comparison

The current IRSQX Sharpe Ratio is 2.46, which is comparable to the IRSOX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of IRSQX and IRSOX, 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

IRSQX vs. IRSOX - Drawdown Comparison

The maximum IRSQX drawdown since its inception was -33.06%, which is greater than IRSOX's maximum drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for IRSQX and IRSOX.

Drawdown Indicators

	IRSQX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-33.06%	-31.25%	-1.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-8.38%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	-15.91%	-13.84%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-25.24%	-0.90%
Max Drawdown (10Y) Largest decline over 10 years	-33.06%	-31.25%	-1.81%
Current Drawdown Current decline from peak	-0.62%	-0.52%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.48%	-4.27%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.74%	+0.20%

Volatility

IRSQX vs. IRSOX - Volatility Comparison

Voya Target Retirement 2050 Fund (IRSQX) has a higher volatility of 4.85% compared to Voya Target Retirement 2040 Fund (IRSOX) at 4.25%. This indicates that IRSQX's price experiences larger fluctuations and is considered to be riskier than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRSQX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	4.25%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	9.34%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	11.40%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.41%	13.96%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	14.84%	+1.35%

IRSQX vs. IRSOX - Expense Ratio Comparison

IRSQX has a 0.22% expense ratio, which is lower than IRSOX's 0.23% 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

IRSQX vs. IRSOX - Dividend Comparison

IRSQX's dividend yield for the trailing twelve months is around 14.19%, more than IRSOX's 12.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.34%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
IRSQX Voya Target Retirement 2050 Fund	14.19%	15.94%	1.93%	1.89%	6.50%	20.41%	2.18%	4.80%	7.33%	6.29%	1.94%	0.44%

Frequently Asked Questions

Can I hold both IRSQX and IRSOX in my portfolio?

With a correlation of 1.00, IRSQX and IRSOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IRSQX or IRSOX?

IRSQX has higher volatility (4.85%) compared to IRSOX (4.25%). In terms of maximum drawdown, IRSQX dropped -33.06% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.50 vs 2.46), 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.