KMVAX vs. IPMIX

Last updated Jun 3, 2026

KMVAX (Kirr Marbach Partners Value Fund) and IPMIX (Voya Index Plus MidCap Portfolio) are both Mid Cap Blend Equities funds. Over the past 10 years, KMVAX returned 11.34%/yr vs 10.40%/yr for IPMIX. Their correlation of 0.90 suggests significant overlap in exposure. KMVAX charges 1.45%/yr vs 0.60%/yr for IPMIX.

Performance

KMVAX vs. IPMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kirr Marbach Partners Value Fund (KMVAX) and Voya Index Plus MidCap Portfolio (IPMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KMVAX having a 13.48% return and IPMIX slightly lower at 13.07%. Over the past 10 years, KMVAX has outperformed IPMIX with an annualized return of 11.34%, while IPMIX has yielded a comparatively lower 10.40% annualized return.

KMVAX

• 1D: -0.23%
• 1M: -0.15%
• YTD: 13.48%
• 6M: 12.09%
• 1Y: 22.79%
• 3Y*: 22.19%
• 5Y*: 13.13%
• 10Y*: 11.34%

IPMIX

• 1D: 0.09%
• 1M: 2.53%
• YTD: 13.07%
• 6M: 13.88%
• 1Y: 25.45%
• 3Y*: 16.82%
• 5Y*: 8.49%
• 10Y*: 10.40%

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

KMVAX vs. IPMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KMVAX Kirr Marbach Partners Value Fund	13.48%	14.44%	27.82%	20.42%	-16.01%	28.83%	2.96%	27.03%	-19.72%	16.12%
IPMIX Voya Index Plus MidCap Portfolio	13.07%	8.27%	15.17%	17.49%	-14.10%	27.70%	8.18%	26.62%	-14.34%	13.66%

Correlation

The correlation between KMVAX and IPMIX is 0.69, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999	0.90

Over the past year, the correlation between KMVAX and IPMIX has dropped to 0.69 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

KMVAX vs. IPMIX — Risk / Return Rank

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

KMVAX

KMVAX Risk / Return Rank: 28
KMVAX Sharpe Ratio Rank: 27
KMVAX Sortino Ratio Rank: 26
KMVAX Omega Ratio Rank: 25
KMVAX Calmar Ratio Rank: 37
KMVAX Martin Ratio Rank: 25

IPMIX

IPMIX Risk / Return Rank: 43
IPMIX Sharpe Ratio Rank: 23
IPMIX Sortino Ratio Rank: 21
IPMIX Omega Ratio Rank: 32
IPMIX Calmar Ratio Rank: 73
IPMIX 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.

KMVAX vs. IPMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kirr Marbach Partners Value Fund (KMVAX) and Voya Index Plus MidCap Portfolio (IPMIX). 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.

	KMVAX	IPMIX	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.37	+0.13
Sortino ratio Return per unit of downside risk	2.18	1.94	+0.24
Omega ratio Gain probability vs. loss probability	1.26	1.30	-0.03
Calmar ratio Return relative to maximum drawdown	2.33	3.33	-0.99
Martin ratio Return relative to average drawdown	6.39	12.68	-6.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KMVAX vs. IPMIX - Sharpe Ratio Comparison

The current KMVAX Sharpe Ratio is 1.51, which is comparable to the IPMIX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of KMVAX and IPMIX, 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

	KMVAX	IPMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.37	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.41	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.48	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.40	+0.02

Drawdowns

KMVAX vs. IPMIX - Drawdown Comparison

The maximum KMVAX drawdown since its inception was -65.81%, which is greater than IPMIX's maximum drawdown of -54.71%. Use the drawdown chart below to compare losses from any high point for KMVAX and IPMIX.

Drawdown Indicators

	KMVAX	IPMIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.81%	-54.71%	-11.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.22%	-12.67%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-21.26%	-23.97%	+2.71%
Max Drawdown (5Y) Largest decline over 5 years	-24.84%	-24.28%	-0.56%
Max Drawdown (10Y) Largest decline over 10 years	-45.41%	-43.76%	-1.65%
Current Drawdown Current decline from peak	-1.51%	-8.41%	+6.90%
Average Drawdown Average peak-to-trough decline	-9.99%	-10.15%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	3.32%	+0.41%

Volatility

KMVAX vs. IPMIX - Volatility Comparison

The current volatility for Kirr Marbach Partners Value Fund (KMVAX) is 4.14%, while Voya Index Plus MidCap Portfolio (IPMIX) has a volatility of 14.22%. This indicates that KMVAX experiences smaller price fluctuations and is considered to be less risky than IPMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMVAX	IPMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	14.22%	-10.08%
Volatility (6M) Calculated over the trailing 6-month period	11.82%	17.42%	-5.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	20.59%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.39%	21.28%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	22.07%	-1.93%

KMVAX vs. IPMIX - Expense Ratio Comparison

KMVAX has a 1.45% expense ratio, which is higher than IPMIX's 0.60% expense ratio.

Dividends

KMVAX vs. IPMIX - Dividend Comparison

KMVAX's dividend yield for the trailing twelve months is around 4.67%, less than IPMIX's 6.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPMIX Voya Index Plus MidCap Portfolio	6.68%	7.59%	4.15%	4.66%	29.03%	1.13%	1.20%	10.96%	16.62%	7.62%	10.43%	17.41%
KMVAX Kirr Marbach Partners Value Fund	4.67%	5.30%	7.58%	3.35%	3.57%	3.72%	1.35%	2.11%	9.38%	6.87%	5.64%	0.34%

Frequently Asked Questions

Can I hold both KMVAX and IPMIX in my portfolio?

KMVAX and IPMIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMVAX or IPMIX?

IPMIX has higher volatility (14.22%) compared to KMVAX (4.14%). In terms of maximum drawdown, KMVAX dropped -65.81% vs IPMIX's -54.71%.

Which has better risk-adjusted returns?

KMVAX currently has the higher Sharpe Ratio (1.51 vs 1.37), 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.