LEWIX vs. IRSOX

Last updated Jun 6, 2026

LEWIX (BlackRock LifePath ESG Index 2065 Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 5 years, LEWIX returned 9.88%/yr vs 9.15%/yr for IRSOX. With a 0.96 correlation, they move nearly in lockstep. LEWIX charges 0.05%/yr vs 0.23%/yr for IRSOX.

Performance

LEWIX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath ESG Index 2065 Fund (LEWIX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEWIX achieves a 12.52% return, which is significantly higher than IRSOX's 10.89% return.

LEWIX

• 1D: 0.38%
• 1M: 2.24%
• YTD: 12.52%
• 6M: 12.96%
• 1Y: 28.80%
• 3Y*: 19.31%
• 5Y*: 9.88%
• 10Y*: —

IRSOX

• 1D: 0.00%
• 1M: 1.72%
• YTD: 10.89%
• 6M: 11.54%
• 1Y: 25.75%
• 3Y*: 18.23%
• 5Y*: 9.15%
• 10Y*: 11.10%

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

LEWIX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LEWIX BlackRock LifePath ESG Index 2065 Fund	12.52%	20.94%	12.84%	21.30%	-18.61%	19.97%	13.76%
IRSOX Voya Target Retirement 2040 Fund	10.89%	19.10%	13.74%	19.25%	-18.43%	17.65%	13.03%

Correlation

The correlation between LEWIX and IRSOX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020	0.96

The correlation between LEWIX and IRSOX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

LEWIX vs. IRSOX — Risk / Return Rank

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

LEWIX

LEWIX Risk / Return Rank: 64
LEWIX Sharpe Ratio Rank: 64
LEWIX Sortino Ratio Rank: 60
LEWIX Omega Ratio Rank: 59
LEWIX Calmar Ratio Rank: 64
LEWIX Martin Ratio Rank: 72

IRSOX

IRSOX Risk / Return Rank: 80
IRSOX Sharpe Ratio Rank: 81
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 76
IRSOX Calmar Ratio Rank: 76
IRSOX Martin Ratio Rank: 87

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.

LEWIX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath ESG Index 2065 Fund (LEWIX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	LEWIX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.59	-0.31
Sortino ratio: Return per unit of downside risk	3.16	3.77	-0.61
Omega ratio: Gain probability vs. loss probability	1.41	1.48	-0.07
Calmar ratio: Return relative to maximum drawdown	2.97	3.33	-0.36
Martin ratio: Return relative to average drawdown	13.18	15.91	-2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEWIX vs. IRSOX - Sharpe Ratio Comparison

The current LEWIX Sharpe Ratio is 2.28, which is comparable to the IRSOX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of LEWIX and IRSOX, 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

	LEWIX	IRSOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.59	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.67	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.75	+0.10

Drawdowns

LEWIX vs. IRSOX - Drawdown Comparison

The maximum LEWIX drawdown since its inception was -27.20%, smaller than the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for LEWIX and IRSOX.

Drawdown Indicators

	LEWIX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-27.20%	-31.25%	+4.05%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-8.38%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.79%	-13.84%	-3.95%
Max Drawdown (5Y) Largest decline over 5 years	-27.20%	-25.24%	-1.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.25%	—
Current Drawdown Current decline from peak	-0.48%	-0.70%	+0.22%
Average Drawdown Average peak-to-trough decline	-5.74%	-4.28%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.69%	+0.47%

Volatility

LEWIX vs. IRSOX - Volatility Comparison

BlackRock LifePath ESG Index 2065 Fund (LEWIX) has a higher volatility of 3.71% compared to Voya Target Retirement 2040 Fund (IRSOX) at 3.34%. This indicates that LEWIX's price experiences larger fluctuations and is considered to be riskier than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEWIX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.34%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	10.02%	8.79%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	10.78%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	13.87%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	14.80%	+1.03%

LEWIX vs. IRSOX - Expense Ratio Comparison

LEWIX has a 0.05% expense ratio, which is lower than IRSOX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LEWIX vs. IRSOX - Dividend Comparison

LEWIX's dividend yield for the trailing twelve months is around 1.54%, less than IRSOX's 12.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.36%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
LEWIX BlackRock LifePath ESG Index 2065 Fund	1.54%	1.73%	0.00%	2.55%	2.10%	2.77%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LEWIX and IRSOX in my portfolio?

With a correlation of 0.90, LEWIX and IRSOX 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, LEWIX or IRSOX?

LEWIX has higher volatility (3.71%) compared to IRSOX (3.34%). In terms of maximum drawdown, LEWIX dropped -27.20% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.59 vs 2.28), 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.