IVSOX vs. IMCDX

Last updated Jun 4, 2026

IVSOX (Voya SmallCap Opportunities Portfolio) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both mutual funds - IVSOX is a Small Cap Growth Equities fund managed by Voya, while IMCDX is a Emerging Markets Bonds fund managed by Voya. At a 0.14 correlation, their price movements are largely independent. IVSOX charges 0.85%/yr vs 0.10%/yr for IMCDX.

Performance

IVSOX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya SmallCap Opportunities Portfolio (IVSOX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVSOX

• 1D: 1.15%
• 1M: 6.09%
• YTD: 18.35%
• 6M: 17.45%
• 1Y: 47.28%
• 3Y*: 21.74%
• 5Y*: 8.76%
• 10Y*: 10.65%

IMCDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVSOX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVSOX Voya SmallCap Opportunities Portfolio	18.35%	14.79%	18.89%	20.93%	-23.02%	4.78%	26.36%	25.77%	-16.03%	18.75%
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	6.44%	8.51%	-13.79%	0.08%	8.35%	13.65%	-1.77%	9.40%

Correlation

The correlation between IVSOX and IMCDX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 1, 2012	0.14

Return for Risk

IVSOX vs. IMCDX — Risk / Return Rank

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

IVSOX

IVSOX Risk / Return Rank: 63
IVSOX Sharpe Ratio Rank: 69
IVSOX Sortino Ratio Rank: 57
IVSOX Omega Ratio Rank: 53
IVSOX Calmar Ratio Rank: 69
IVSOX Martin Ratio Rank: 65

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.

IVSOX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya SmallCap Opportunities Portfolio (IVSOX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). 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.

	IVSOX	IMCDX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	—	—
Sortino ratio: Return per unit of downside risk	3.19	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	3.23	—	—
Martin ratio: Return relative to average drawdown	12.83	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IVSOX	IMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	—	—

Drawdowns

Drawdown Indicators

	IVSOX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-74.77%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.13%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.90%	—	—
Current Drawdown Current decline from peak	-0.45%	—	—
Average Drawdown Average peak-to-trough decline	-25.92%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	—	—

Volatility

Volatility by Period

	IVSOX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.53%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.17%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.96%	—	—

IVSOX vs. IMCDX - Expense Ratio Comparison

IVSOX has a 0.85% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

Dividends

IVSOX vs. IMCDX - Dividend Comparison

IVSOX's dividend yield for the trailing twelve months is around 1.98%, while IMCDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCDX Voya Emerging Markets Corporate Debt Fund	0.00%	0.00%	4.08%	4.21%	3.80%	6.14%	4.64%	4.99%	5.30%	4.79%	5.22%	5.11%
IVSOX Voya SmallCap Opportunities Portfolio	1.98%	2.34%	0.66%	0.00%	26.68%	10.12%	0.36%	13.66%	22.36%	5.60%	8.58%	11.10%

Frequently Asked Questions

Can I hold both IVSOX and IMCDX in my portfolio?

IVSOX and IMCDX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.