IVCSX vs. MOPIX

Last updated Jun 25, 2026

IVCSX (Voya Small Company Portfolio) and MOPIX (MainStay WMC Small Companies Fund) are both Small Cap Blend Equities funds. Over the past 10 years, IVCSX returned 9.62%/yr vs 9.79%/yr for MOPIX. Their correlation of 0.93 suggests significant overlap in exposure. IVCSX charges 0.90%/yr vs 0.97%/yr for MOPIX.

Performance

IVCSX vs. MOPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Small Company Portfolio (IVCSX) and MainStay WMC Small Companies Fund (MOPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVCSX achieves a 15.85% return, which is significantly lower than MOPIX's 29.09% return. Both investments have delivered pretty close results over the past 10 years, with IVCSX having a 9.62% annualized return and MOPIX not far ahead at 9.79%.

IVCSX

• 1D: -0.75%
• 1M: 5.42%
• YTD: 15.85%
• 6M: 13.84%
• 1Y: 29.03%
• 3Y*: 16.64%
• 5Y*: 6.43%
• 10Y*: 9.62%

MOPIX

• 1D: -1.09%
• 1M: 4.13%
• YTD: 29.09%
• 6M: 25.75%
• 1Y: 53.45%
• 3Y*: 23.42%
• 5Y*: 9.09%
• 10Y*: 9.79%

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

IVCSX vs. MOPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVCSX Voya Small Company Portfolio	15.85%	8.94%	10.56%	18.00%	-16.42%	14.74%	12.14%	25.57%	-15.83%	11.37%
MOPIX MainStay WMC Small Companies Fund	29.09%	12.69%	16.07%	10.97%	-19.00%	17.55%	10.04%	17.70%	-16.42%	15.68%

Correlation

The correlation between IVCSX and MOPIX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 30, 1996	0.93

The correlation between IVCSX and MOPIX has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

Return for Risk

IVCSX vs. MOPIX — Risk / Return Rank

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

IVCSX

IVCSX Risk / Return Rank: 54
IVCSX Sharpe Ratio Rank: 54
IVCSX Sortino Ratio Rank: 54
IVCSX Omega Ratio Rank: 44
IVCSX Calmar Ratio Rank: 64
IVCSX Martin Ratio Rank: 53

MOPIX

MOPIX Risk / Return Rank: 92
MOPIX Sharpe Ratio Rank: 95
MOPIX Sortino Ratio Rank: 91
MOPIX Omega Ratio Rank: 83
MOPIX Calmar Ratio Rank: 96
MOPIX Martin Ratio Rank: 96

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.

IVCSX vs. MOPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Small Company Portfolio (IVCSX) and MainStay WMC Small Companies Fund (MOPIX). 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.

	IVCSX	MOPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.94	-1.11
Sortino ratio: Return per unit of downside risk	2.58	4.01	-1.43
Omega ratio: Gain probability vs. loss probability	1.30	1.49	-0.18
Calmar ratio: Return relative to maximum drawdown	2.70	5.75	-3.05
Martin ratio: Return relative to average drawdown	9.47	21.59	-12.12

IVCSX vs. MOPIX - Sharpe Ratio Comparison

The current IVCSX Sharpe Ratio is 1.83, which is lower than the MOPIX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of IVCSX and MOPIX, 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

IVCSX vs. MOPIX - Drawdown Comparison

The maximum IVCSX drawdown since its inception was -54.59%, smaller than the maximum MOPIX drawdown of -68.08%. Use the drawdown chart below to compare losses from any high point for IVCSX and MOPIX.

Drawdown Indicators

	IVCSX	MOPIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-68.08%	+13.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.52%	-9.84%	-2.68%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	-26.99%	+2.54%
Max Drawdown (5Y) Largest decline over 5 years	-28.47%	-32.60%	+4.13%
Max Drawdown (10Y) Largest decline over 10 years	-43.15%	-48.01%	+4.86%
Current Drawdown Current decline from peak	-0.75%	-1.09%	+0.34%
Average Drawdown Average peak-to-trough decline	-11.35%	-9.10%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.61%	+0.84%

Volatility

IVCSX vs. MOPIX - Volatility Comparison

The current volatility for Voya Small Company Portfolio (IVCSX) is 5.86%, while MainStay WMC Small Companies Fund (MOPIX) has a volatility of 6.75%. This indicates that IVCSX experiences smaller price fluctuations and is considered to be less risky than MOPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVCSX	MOPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	6.75%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	14.64%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.51%	19.26%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.60%	22.90%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.18%	23.41%	-0.23%

IVCSX vs. MOPIX - Expense Ratio Comparison

IVCSX has a 0.90% expense ratio, which is lower than MOPIX's 0.97% expense ratio.

Dividends

IVCSX vs. MOPIX - Dividend Comparison

IVCSX's dividend yield for the trailing twelve months is around 6.39%, more than MOPIX's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVCSX Voya Small Company Portfolio	6.39%	15.99%	3.68%	0.41%	37.13%	0.52%	1.91%	15.01%	21.50%	11.07%	9.01%	17.60%
MOPIX MainStay WMC Small Companies Fund	0.12%	0.15%	0.39%	0.33%	2.34%	29.42%	0.00%	0.50%	18.09%	8.32%	0.59%	0.37%

Frequently Asked Questions

Can I hold both IVCSX and MOPIX in my portfolio?

IVCSX and MOPIX 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, IVCSX or MOPIX?

MOPIX has higher volatility (6.75%) compared to IVCSX (5.86%). In terms of maximum drawdown, IVCSX dropped -54.59% vs MOPIX's -68.08%.

Which has better risk-adjusted returns?

MOPIX currently has the higher Sharpe Ratio (2.94 vs 1.83), 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.