Fund Evaluator:
Voya Retirement Moderate Portfolio I (IRMIX)
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Best Performing in Moderately Conservative Allocation Over the Last Year
| 16.4% | Fidelity Advisor Multi-Asset Income Z (FIWBX) |
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Fund Details
Voya Retirement Moderate Portfolio I Overview
Voya Retirement Moderate Portfolio I (IRMIX) is an actively managed Allocation Moderately Conservative Allocation fund. Voya launched the fund in 2006.
The investment seeks a high level of total return consistent with a level of risk that can be expected to be greater than that of Voya Retirement Conservative Portfolio but less than that of Voya Retirement Moderate Growth Portfolio. The fund invests in a combination of other funds according to a model that is intended to reflect an allocation of approximately 38% of its assets in equity securities and 62% of its assets in debt securities. The actual amount of fund assets invested in equity securities may vary at any time and may range from 35% to 65% of its assets in equity securities and from 35% to 65% of its assets in debt securities.
About Voya Retirement Moderate Portfolio I (IRMIX)
There are 2 members of the management team with an average tenure of 5.84 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 Moderate Portfolio I has 10 securities in its portfolio. The top 10 holdings constitute 100.0% 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 Moderate Portfolio I is part of the Allocation global asset class and is within the Allocation fund group. Voya Retirement Moderate Portfolio I has 14.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 36.3%. There is 9.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 57.9% (53.7% domestic bond, 4.3% foreign bond and 0.1% convertible bond). Voya Retirement Moderate Portfolio I has -4.0% of the portfolio in cash.
Assets Under Management
The fund has $128 million in total assets, which is below the $561 million average for the Moderately 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.
IRMIX 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 Moderate Portfolio I expense ratio is above average compared to funds in the Moderately Conservative Allocation category. Voya Retirement Moderate Portfolio I has an expense ratio of 0.67%, which is 33% lower than its category average, making the fund expense ratio grade a B. 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 Moderate Portfolio I has a portfolio turnover rate of 24%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 43% for the Moderately Conservative Allocation category.
Recently, in the month of August 2026, Voya Retirement Moderate Portfolio I returned 1.3%, which earned it a grade of B, as the Moderately Conservative Allocation category had an average return of 1.3%. 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 Moderate Portfolio I has a trailing yield of 1.65%, which is below the 3.29% category average. The fund normally distributes its income annually and its capital gains 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 Moderate Portfolio I Grades
Year to date, the fund has returned 5.9%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 9.9% over the past year (grade of C), 10.3% over the past three years (grade of C) and 4.3% per year over the past five years (grade of C) and 6.6% per year over the past 10 years (grade of B).
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IRMIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IRMIX Return (NAV) | 1.3% | 0.5% | 9.9% | 10.3% | 4.3% | 6.6% |
| IRMIX Grade | B | D | C | C | C | B |
| +/- Category | 0.0% | -0.5% | 0.1% | 0.0% | -0.4% | 0.5% |
| Moderately Conservative Allocation Avg | 1.3% | 1.0% | 9.8% | 10.3% | 4.7% | 6.1% |
| IRMIX Tax Cost Ratio | na | na | 1.3% | 1.8% | 2.2% | 2.0% |
IRMIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IRMIX Return (NAV) | 5.9% | 12.1% | 8.2% | 11.6% | -14.9% | 10.0% | 12.5% | 17.6% | -4.7% | 12.2% | 6.1% |
| IRMIX Grade | C | B | C | B | F | B | A | B | D | A | D |
| +/- Category | -0.2% | 0.6% | -0.1% | 1.6% | -3.1% | 0.1% | 4.5% | 2.0% | -0.4% | 2.4% | -2.3% |
| Moderately Conservative Allocation Avg | 6.2% | 11.5% | 8.3% | 10.0% | -11.8% | 10.0% | 8.1% | 15.6% | -4.3% | 9.8% | 8.5% |
| Risk Measures | |
| Standard Deviation: | 7.0% |
| Total Risk Index: | 0.57 - Below Average |
| Category Risk Index: | 0.96 - Below Average |
| Category Risk Grade: | B (34% Rank) |
| Beta: | 0.74 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $238 Mil |
| Fund Total Assets: | $ 128 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 24% |
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 7/31/26)
| # of Holdings: | 10 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.0% |
Portfolio Allocation |
|
| Domestic Stock: | 36.3% |
| Foreign Stock: | 9.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 53.7% |
| Foreign Bond: | 4.3% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | -4.0% |
Purchase Information
| Fund Family: | Voya |
| Phone Number: | 800-366-0066 |
| Website: | www.voyainvestments.com |
| Status: | Open |
| Inception Date: | April 28, 2006 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.67% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.00% |
| Share Class: | Voya Retirement Moderate Portfolio I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
