IVCSX vs. VYMSX

Last updated Jun 4, 2026

IVCSX (Voya Small Company Portfolio) and VYMSX (Voya Mid Cap Research Enhanced Index Fund) are both mutual funds - IVCSX is a Small Cap Blend Equities fund managed by Voya, while VYMSX is a Mid Cap Blend Equities fund managed by Voya. Over the past 10 years, IVCSX returned 8.98%/yr vs 10.42%/yr for VYMSX. Their correlation of 0.94 suggests significant overlap in exposure. IVCSX charges 0.90%/yr vs 0.82%/yr for VYMSX.

Performance

IVCSX vs. VYMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Small Company Portfolio (IVCSX) and Voya Mid Cap Research Enhanced Index Fund (VYMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVCSX achieves a 12.87% return, which is significantly lower than VYMSX's 15.34% return. Over the past 10 years, IVCSX has underperformed VYMSX with an annualized return of 8.98%, while VYMSX has yielded a comparatively higher 10.42% annualized return.

IVCSX

• 1D: 0.78%
• 1M: 4.55%
• YTD: 12.87%
• 6M: 12.11%
• 1Y: 27.74%
• 3Y*: 15.26%
• 5Y*: 5.92%
• 10Y*: 8.98%

VYMSX

• 1D: 1.37%
• 1M: 5.11%
• YTD: 15.34%
• 6M: 14.36%
• 1Y: 25.10%
• 3Y*: 16.95%
• 5Y*: 8.45%
• 10Y*: 10.42%

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

IVCSX vs. VYMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVCSX Voya Small Company Portfolio	12.87%	8.94%	10.56%	18.00%	-16.42%	14.74%	12.14%	25.57%	-15.83%	11.37%
VYMSX Voya Mid Cap Research Enhanced Index Fund	15.34%	6.79%	14.92%	17.35%	-14.63%	27.47%	8.26%	28.18%	-14.55%	13.43%

Correlation

The correlation between IVCSX and VYMSX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 5, 1999	0.94

The correlation between IVCSX and VYMSX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

IVCSX vs. VYMSX — Risk / Return Rank

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

IVCSX

IVCSX Risk / Return Rank: 40
IVCSX Sharpe Ratio Rank: 39
IVCSX Sortino Ratio Rank: 38
IVCSX Omega Ratio Rank: 33
IVCSX Calmar Ratio Rank: 47
IVCSX Martin Ratio Rank: 43

VYMSX

VYMSX Risk / Return Rank: 43
VYMSX Sharpe Ratio Rank: 37
VYMSX Sortino Ratio Rank: 36
VYMSX Omega Ratio Rank: 31
VYMSX Calmar Ratio Rank: 57
VYMSX Martin Ratio Rank: 56

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. VYMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Small Company Portfolio (IVCSX) and Voya Mid Cap Research Enhanced Index Fund (VYMSX). 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.

	IVCSX	VYMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.75	+0.06
Sortino ratio: Return per unit of downside risk	2.57	2.50	+0.07
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	2.60	2.88	-0.28
Martin ratio: Return relative to average drawdown	9.12	11.25	-2.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVCSX vs. VYMSX - Sharpe Ratio Comparison

The current IVCSX Sharpe Ratio is 1.81, which is comparable to the VYMSX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of IVCSX and VYMSX, 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

	IVCSX	VYMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.75	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.37	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.46	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.40	+0.01

Drawdowns

IVCSX vs. VYMSX - Drawdown Comparison

The maximum IVCSX drawdown since its inception was -54.59%, smaller than the maximum VYMSX drawdown of -57.85%. Use the drawdown chart below to compare losses from any high point for IVCSX and VYMSX.

Drawdown Indicators

	IVCSX	VYMSX	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-57.85%	+3.26%
Max Drawdown (1Y) Largest decline over 1 year	-12.52%	-10.34%	-2.18%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	-24.02%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-28.47%	-31.71%	+3.24%
Max Drawdown (10Y) Largest decline over 10 years	-43.15%	-43.69%	+0.54%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.37%	-9.16%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	2.57%	+0.92%

Volatility

IVCSX vs. VYMSX - Volatility Comparison

Voya Small Company Portfolio (IVCSX) and Voya Mid Cap Research Enhanced Index Fund (VYMSX) have volatilities of 4.85% and 4.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVCSX	VYMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	4.81%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	12.84%	12.33%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	17.08%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	23.33%	-0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.17%	22.91%	+0.26%

IVCSX vs. VYMSX - Expense Ratio Comparison

IVCSX has a 0.90% expense ratio, which is higher than VYMSX's 0.82% expense ratio.

Dividends

IVCSX vs. VYMSX - Dividend Comparison

IVCSX's dividend yield for the trailing twelve months is around 6.56%, less than VYMSX's 25.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVCSX Voya Small Company Portfolio	6.56%	15.99%	3.68%	0.41%	37.13%	0.52%	1.91%	15.01%	21.50%	11.07%	9.01%	17.60%
VYMSX Voya Mid Cap Research Enhanced Index Fund	25.81%	29.77%	11.50%	0.96%	6.78%	14.81%	0.79%	2.00%	13.24%	7.58%	1.83%	6.83%

Frequently Asked Questions

Can I hold both IVCSX and VYMSX in my portfolio?

With a correlation of 0.93, IVCSX and VYMSX 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, IVCSX or VYMSX?

IVCSX has higher volatility (4.85%) compared to VYMSX (4.81%). In terms of maximum drawdown, IVCSX dropped -54.59% vs VYMSX's -57.85%.

Which has better risk-adjusted returns?

IVCSX currently has the higher Sharpe Ratio (1.81 vs 1.75), 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.