VYSAX vs. IMCDX

Last updated Jun 25, 2026

VYSAX (Voya MI Dynamic Small Cap Fund Class I) and IMCDX (Voya Emerging Markets Corporate Debt Fund) are both mutual funds - VYSAX is a Small Cap Growth Equities fund tracking the Russell 2000 Index, while IMCDX is a Emerging Markets Bonds fund managed by Voya. At a 0.14 correlation, their price movements are largely independent. VYSAX charges 0.86%/yr vs 0.10%/yr for IMCDX.

Performance

VYSAX vs. IMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya MI Dynamic Small Cap Fund Class I (VYSAX) and Voya Emerging Markets Corporate Debt Fund (IMCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VYSAX

• 1D: -0.72%
• 1M: 5.47%
• YTD: 15.96%
• 6M: 13.88%
• 1Y: 28.82%
• 3Y*: 16.46%
• 5Y*: 6.24%
• 10Y*: 9.45%

IMCDX

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

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

VYSAX vs. IMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VYSAX Voya MI Dynamic Small Cap Fund Class I	15.96%	8.38%	10.56%	17.97%	-16.32%	14.00%	12.20%	25.90%	-16.35%	11.20%
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 VYSAX 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	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jul 31, 2012	0.14

Return for Risk

VYSAX vs. IMCDX — Risk / Return Rank

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

VYSAX

VYSAX Risk / Return Rank: 55
VYSAX Sharpe Ratio Rank: 56
VYSAX Sortino Ratio Rank: 55
VYSAX Omega Ratio Rank: 44
VYSAX Calmar Ratio Rank: 67
VYSAX Martin Ratio Rank: 54

IMCDX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

VYSAX vs. IMCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya MI Dynamic Small Cap Fund Class I (VYSAX) 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.

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.

	VYSAX	IMCDX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	—	—
Sortino ratio: Return per unit of downside risk	2.59	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.73	—	—
Martin ratio: Return relative to average drawdown	9.52	—	—

Drawdowns

Drawdown Indicators

	VYSAX	IMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-54.76%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.82%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.28%	—	—
Current Drawdown Current decline from peak	-0.72%	—	—
Average Drawdown Average peak-to-trough decline	-11.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	—	—

Volatility

Volatility by Period

	VYSAX	IMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.35%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.42%	—	—

VYSAX vs. IMCDX - Expense Ratio Comparison

VYSAX has a 0.86% expense ratio, which is higher than IMCDX's 0.10% expense ratio.

Dividends

VYSAX vs. IMCDX - Dividend Comparison

VYSAX's dividend yield for the trailing twelve months is around 10.51%, 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%
VYSAX Voya MI Dynamic Small Cap Fund Class I	10.51%	12.19%	13.06%	0.43%	0.43%	24.83%	0.14%	0.26%	19.83%	12.11%	6.53%	17.31%

Frequently Asked Questions

Can I hold both VYSAX and IMCDX in my portfolio?

VYSAX 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.