Fund Evaluator:
Voya Retirement Conservative Port ADV (IRCAX)
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Best Performing in Conservative Allocation Over the Last Year
| 11.9% | Hussman Strategic Total Return (HSTRX) |
| 10.4% | Franklin Multi-Asset Income Y (PMIYX) |
| 10.1% | Columbia Income Builder Inst (CBUZX) |
| 8.2% | Thrivent Conservative Allocation S (THYFX) |
| 8.0% | Columbia Capital Allocation Cnsrv Inst (CBVZX) |
Fund Details
Voya Retirement Conservative Port ADV Overview
Voya Retirement Conservative Port ADV (IRCAX) is an actively managed Allocation Conservative Allocation fund. Voya launched the fund in 2007.
The investment seeks a high level of total return consistent with a conservative level of risk relative to the other Voya Retirement Portfolios. Under normal circumstances, the portfolio invests in a combination of other funds according to a model that is intended to reflect an allocation of approximately 25% of the Portfolio's assets in equity securities and 75% of the portfolio's assets in debt instruments. The actual amount of portfolio assets invested in equity securities may vary at any time and may range from 15% to 45% of its assets in equity securities and from 55% to 85% of its assets in debt instruments.
About Voya Retirement Conservative Port ADV (IRCAX)
There are 2 members of the management team with an average tenure of 5.75 years: Barbara Reinhard (2018), Lanyon Blair (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Voya Retirement Conservative Port ADV has 12 securities in its portfolio. The top 10 holdings constitute 98.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Voya Retirement Conservative Port ADV is part of the Allocation global asset class and is within the Allocation fund group. Voya Retirement Conservative Port ADV has 12.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 20.6%. There is 6.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 80.2% (74.5% domestic bond, 5.7% foreign bond and 0.1% convertible bond). Voya Retirement Conservative Port ADV has -7.5% of the portfolio in cash.
Assets Under Management
The fund has $80 million in total assets, which is below the $107 million average for the Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IRCAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Voya Retirement Conservative Port ADV expense ratio is high compared to funds in the Conservative Allocation category. Voya Retirement Conservative Port ADV has an expense ratio of 0.92%, which is 23% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Voya Retirement Conservative Port ADV has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 100% for the Conservative Allocation category.
Recently, in the month of July 2026, Voya Retirement Conservative Port ADV returned -0.9%, which earned it a grade of C, as the Conservative Allocation category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Voya Retirement Conservative Port ADV has a trailing yield of 1.87%, which is below the 3.43% category average. The fund normally distributes its income annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Voya Retirement Conservative Port ADV Grades
Year to date, the fund has returned 2.3%, 0.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 6.7% over the past year (grade of C), 6.8% over the past three years (grade of D) and 2.2% per year over the past five years (grade of D) and 4.1% per year over the past 10 years (grade of C).
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IRCAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IRCAX Return (NAV) | -0.9% | 0.5% | 6.7% | 6.8% | 2.2% | 4.1% |
| IRCAX Grade | C | D | C | D | D | C |
| +/- Category | -0.2% | -0.0% | -0.5% | -0.3% | -0.5% | 0.2% |
| Conservative Allocation Avg | -0.8% | 0.6% | 7.2% | 7.2% | 2.7% | 3.9% |
| IRCAX Tax Cost Ratio | na | na | 2.8% | 2.1% | 2.2% | 1.8% |
IRCAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IRCAX Return (NAV) | 2.3% | 9.2% | 5.7% | 8.8% | -14.0% | 4.7% | 10.3% | 13.6% | -2.7% | 7.8% | 4.7% |
| IRCAX Grade | D | C | C | C | D | C | B | A | C | C | D |
| +/- Category | -0.4% | 0.0% | -0.2% | 0.1% | -2.1% | 0.2% | 2.3% | 2.1% | 0.5% | 0.7% | -1.2% |
| Conservative Allocation Avg | 2.8% | 9.2% | 5.9% | 8.7% | -11.9% | 4.5% | 8.0% | 11.5% | -3.3% | 7.1% | 5.9% |
| Risk Measures | |
| Standard Deviation: | 5.8% |
| Total Risk Index: | 0.47 - Below Average |
| Category Risk Index: | 0.89 - Below Average |
| Category Risk Grade: | B (27% Rank) |
| Beta: | 0.59 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $80 Mil |
| Fund Total Assets: | $ 81 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 19% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.3 years | |||
| Average Tenure: 5.8 years | |||
| Managers (Year): Reinhard Barbara (2018), Blair Lanyon (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 98.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.4% |
Portfolio Allocation |
|
| Domestic Stock: | 20.6% |
| Foreign Stock: | 6.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 74.5% |
| Foreign Bond: | 5.7% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | -7.5% |
Purchase Information
| Fund Family: | Voya |
| Phone Number: | 800-366-0066 |
| Website: | www.voyainvestments.com |
| Status: | Open |
| Inception Date: | October 31, 2007 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.19% |
| Share Class: | Voya Retirement Conservative Port I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
