IRVIX vs. SWLVX

Last updated Jun 4, 2026

IRVIX (Voya Russell Large Cap Value Index Portfolio) and SWLVX (Schwab U.S. Large-Cap Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, IRVIX returned 11.06%/yr vs 10.33%/yr for SWLVX. Their correlation of 0.95 suggests significant overlap in exposure. IRVIX charges 0.35%/yr vs 0.04%/yr for SWLVX.

Performance

IRVIX vs. SWLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Russell Large Cap Value Index Portfolio (IRVIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). 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 IRVIX having a 13.79% return and SWLVX slightly higher at 14.21%.

IRVIX

• 1D: 0.70%
• 1M: 4.56%
• YTD: 13.79%
• 6M: 14.58%
• 1Y: 28.49%
• 3Y*: 18.79%
• 5Y*: 11.06%
• 10Y*: 11.52%

SWLVX

• 1D: -0.05%
• 1M: 3.11%
• YTD: 14.21%
• 6M: 14.80%
• 1Y: 28.75%
• 3Y*: 18.55%
• 5Y*: 10.33%
• 10Y*: —

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

IRVIX vs. SWLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRVIX Voya Russell Large Cap Value Index Portfolio	13.79%	18.08%	14.99%	10.26%	-5.48%	22.95%	1.38%	25.75%	-6.61%	0.09%
SWLVX Schwab U.S. Large-Cap Value Index Fund	14.21%	15.87%	14.36%	11.45%	-7.61%	25.15%	2.64%	26.49%	-8.39%	0.30%

Correlation

The correlation between IRVIX and SWLVX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.95

The correlation between IRVIX and SWLVX shifts across timeframes, from 0.84 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IRVIX vs. SWLVX — Risk / Return Rank

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

IRVIX

IRVIX Risk / Return Rank: 89
IRVIX Sharpe Ratio Rank: 90
IRVIX Sortino Ratio Rank: 88
IRVIX Omega Ratio Rank: 83
IRVIX Calmar Ratio Rank: 92
IRVIX Martin Ratio Rank: 93

SWLVX

SWLVX Risk / Return Rank: 81
SWLVX Sharpe Ratio Rank: 80
SWLVX Sortino Ratio Rank: 77
SWLVX Omega Ratio Rank: 72
SWLVX Calmar Ratio Rank: 86
SWLVX Martin Ratio Rank: 89

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.

IRVIX vs. SWLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Russell Large Cap Value Index Portfolio (IRVIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). 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.

	IRVIX	SWLVX	Difference
Sharpe ratio: Return per unit of total volatility	2.99	2.63	+0.36
Sortino ratio: Return per unit of downside risk	4.26	3.71	+0.55
Omega ratio: Gain probability vs. loss probability	1.56	1.48	+0.08
Calmar ratio: Return relative to maximum drawdown	4.94	4.16	+0.78
Martin ratio: Return relative to average drawdown	20.55	17.49	+3.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRVIX vs. SWLVX - Sharpe Ratio Comparison

The current IRVIX Sharpe Ratio is 2.99, which is comparable to the SWLVX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of IRVIX and SWLVX, 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

	IRVIX	SWLVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	2.63	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.70	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.57	+0.16

Drawdowns

IRVIX vs. SWLVX - Drawdown Comparison

The maximum IRVIX drawdown since its inception was -35.67%, smaller than the maximum SWLVX drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for IRVIX and SWLVX.

Drawdown Indicators

	IRVIX	SWLVX	Difference
Max Drawdown Largest peak-to-trough decline	-35.67%	-38.34%	+2.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-6.82%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.38%	-15.61%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	-19.05%	+0.68%
Max Drawdown (10Y) Largest decline over 10 years	-35.67%	—	—
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-3.83%	-4.84%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.62%	-0.08%

Volatility

IRVIX vs. SWLVX - Volatility Comparison

Voya Russell Large Cap Value Index Portfolio (IRVIX) has a higher volatility of 4.83% compared to Schwab U.S. Large-Cap Value Index Fund (SWLVX) at 3.01%. This indicates that IRVIX's price experiences larger fluctuations and is considered to be riskier than SWLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRVIX	SWLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	3.01%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	8.59%	8.15%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.99%	10.80%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	14.86%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	18.55%	-1.68%

IRVIX vs. SWLVX - Expense Ratio Comparison

IRVIX has a 0.35% expense ratio, which is higher than SWLVX's 0.04% expense ratio.

Dividends

IRVIX vs. SWLVX - Dividend Comparison

IRVIX's dividend yield for the trailing twelve months is around 3.87%, more than SWLVX's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRVIX Voya Russell Large Cap Value Index Portfolio	3.87%	29.89%	3.60%	2.01%	1.36%	1.94%	3.78%	5.91%	6.32%	1.94%	2.90%	3.11%
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.77%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IRVIX and SWLVX in my portfolio?

IRVIX and SWLVX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRVIX or SWLVX?

IRVIX has higher volatility (4.83%) compared to SWLVX (3.01%). In terms of maximum drawdown, IRVIX dropped -35.67% vs SWLVX's -38.34%.

Which has better risk-adjusted returns?

IRVIX currently has the higher Sharpe Ratio (2.99 vs 2.63), 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.