ITRAX vs. IPHYX
ITRAX (VY® T. Rowe Price Capital Appreciation Portfolio) and IPHYX (Voya High Yield Portfolio) are both mutual funds - ITRAX is a Diversified Portfolio fund managed by Voya, while IPHYX is a High Yield Bonds fund managed by Voya. Over the past 10 years, ITRAX returned 10.39%/yr vs 4.49%/yr for IPHYX. At a 0.38 correlation, their price movements are largely independent. ITRAX charges 1.24%/yr vs 0.73%/yr for IPHYX.
Performance
ITRAX vs. IPHYX - Performance Comparison
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Returns By Period
In the year-to-date period, ITRAX achieves a 3.81% return, which is significantly higher than IPHYX's 1.17% return. Over the past 10 years, ITRAX has outperformed IPHYX with an annualized return of 10.39%, while IPHYX has yielded a comparatively lower 4.49% annualized return.
ITRAX
- 1D
- 0.75%
- 1M
- -0.54%
- YTD
- 3.81%
- 6M
- 2.36%
- 1Y
- 10.17%
- 3Y*
- 11.21%
- 5Y*
- 7.68%
- 10Y*
- 10.39%
IPHYX
- 1D
- 0.00%
- 1M
- 0.81%
- YTD
- 1.17%
- 6M
- 1.76%
- 1Y
- 5.12%
- 3Y*
- 7.00%
- 5Y*
- 2.60%
- 10Y*
- 4.49%
ITRAX vs. IPHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITRAX VY® T. Rowe Price Capital Appreciation Portfolio | 3.81% | 10.14% | 12.12% | 18.26% | -12.54% | 17.94% | 17.52% | 23.99% | -0.12% | 14.74% |
IPHYX Voya High Yield Portfolio | 1.17% | 6.80% | 6.74% | 11.47% | -13.75% | 4.15% | 5.66% | 15.24% | -3.18% | 6.24% |
Correlation
The correlation between ITRAX and IPHYX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since May 4, 2004 | 0.38 |
Over the past year, ITRAX and IPHYX have become more correlated (0.60) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
ITRAX vs. IPHYX — Risk / Return Rank
ITRAX
IPHYX
ITRAX vs. IPHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY® T. Rowe Price Capital Appreciation Portfolio (ITRAX) and Voya High Yield Portfolio (IPHYX). 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.
| ITRAX | IPHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.34 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.16 | -0.99 |
| Martin ratioReturn relative to average drawdown | 3.11 | 10.11 | -7.01 |
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Drawdowns
ITRAX vs. IPHYX - Drawdown Comparison
The maximum ITRAX drawdown since its inception was -42.74%, which is greater than IPHYX's maximum drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for ITRAX and IPHYX.
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Drawdown Indicators
| ITRAX | IPHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.74% | -32.43% | -10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -9.67% | -2.62% | -7.05% |
Max Drawdown (3Y)Largest decline over 3 years | -9.99% | -3.81% | -6.18% |
Max Drawdown (5Y)Largest decline over 5 years | -17.53% | -17.18% | -0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -27.01% | -20.45% | -6.56% |
Current DrawdownCurrent decline from peak | -8.28% | -0.23% | -8.05% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -2.78% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 0.54% | +2.92% |
Volatility
ITRAX vs. IPHYX - Volatility Comparison
VY® T. Rowe Price Capital Appreciation Portfolio (ITRAX) has a higher volatility of 3.07% compared to Voya High Yield Portfolio (IPHYX) at 1.05%. This indicates that ITRAX's price experiences larger fluctuations and is considered to be riskier than IPHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITRAX | IPHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 1.05% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.44% | 2.77% | +10.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.82% | 3.53% | +11.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.54% | 5.21% | +7.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 5.51% | +7.19% |
ITRAX vs. IPHYX - Expense Ratio Comparison
ITRAX has a 1.24% expense ratio, which is higher than IPHYX's 0.73% expense ratio.
Dividends
ITRAX vs. IPHYX - Dividend Comparison
ITRAX's dividend yield for the trailing twelve months is around 16.69%, more than IPHYX's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPHYX Voya High Yield Portfolio | 4.77% | 4.47% | 5.90% | 5.68% | 4.36% | 4.26% | 5.03% | 5.14% | 6.03% | 6.82% | 6.44% | 6.32% |
ITRAX VY® T. Rowe Price Capital Appreciation Portfolio | 16.69% | 17.33% | 2.68% | 11.74% | 17.12% | 13.46% | 8.70% | 6.53% | 10.32% | 5.87% | 10.79% | 16.34% |
Frequently Asked Questions
ITRAX and IPHYX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITRAX has higher volatility (3.07%) compared to IPHYX (1.05%). In terms of maximum drawdown, ITRAX dropped -42.74% vs IPHYX's -32.43%.
IPHYX currently has the higher Sharpe Ratio (1.61 vs 0.76), 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.
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