AONIX vs. VASIX

Last updated Jun 3, 2026

AONIX (American Century Investments One Choice Portfolio: Very Conservative) and VASIX (Vanguard LifeStrategy Income Fund) are both Diversified Portfolio funds. Over the past 10 years, AONIX returned 4.53%/yr vs 4.06%/yr for VASIX. Their correlation of 0.89 suggests significant overlap in exposure. AONIX charges 0.00%/yr vs 0.11%/yr for VASIX.

Performance

AONIX vs. VASIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Investments One Choice Portfolio: Very Conservative (AONIX) and Vanguard LifeStrategy Income Fund (VASIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AONIX achieves a 2.67% return, which is significantly lower than VASIX's 3.02% return. Over the past 10 years, AONIX has outperformed VASIX with an annualized return of 4.53%, while VASIX has yielded a comparatively lower 4.06% annualized return.

AONIX

• 1D: -0.08%
• 1M: 0.75%
• YTD: 2.67%
• 6M: 2.86%
• 1Y: 8.42%
• 3Y*: 6.91%
• 5Y*: 2.78%
• 10Y*: 4.53%

VASIX

• 1D: 0.00%
• 1M: 1.26%
• YTD: 3.02%
• 6M: 3.34%
• 1Y: 9.47%
• 3Y*: 8.15%
• 5Y*: 2.88%
• 10Y*: 4.06%

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

AONIX vs. VASIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AONIX American Century Investments One Choice Portfolio: Very Conservative	2.67%	7.52%	5.92%	7.60%	-11.35%	6.63%	9.43%	11.96%	-0.93%	6.46%
VASIX Vanguard LifeStrategy Income Fund	3.02%	9.42%	6.67%	9.63%	-13.94%	1.92%	9.13%	12.05%	-1.05%	6.05%

Correlation

The correlation between AONIX and VASIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 4, 2004	0.89

The correlation between AONIX and VASIX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

AONIX vs. VASIX — Risk / Return Rank

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

AONIX

AONIX Risk / Return Rank: 51
AONIX Sharpe Ratio Rank: 53
AONIX Sortino Ratio Rank: 56
AONIX Omega Ratio Rank: 56
AONIX Calmar Ratio Rank: 39
AONIX Martin Ratio Rank: 52

VASIX

VASIX Risk / Return Rank: 50
VASIX Sharpe Ratio Rank: 51
VASIX Sortino Ratio Rank: 54
VASIX Omega Ratio Rank: 58
VASIX Calmar Ratio Rank: 40
VASIX Martin Ratio Rank: 49

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.

AONIX vs. VASIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Investments One Choice Portfolio: Very Conservative (AONIX) and Vanguard LifeStrategy Income Fund (VASIX). 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.

	AONIX	VASIX	Difference
Sharpe ratio Return per unit of total volatility	2.15	2.13	+0.01
Sortino ratio Return per unit of downside risk	3.15	3.10	+0.05
Omega ratio Gain probability vs. loss probability	1.42	1.42	-0.01
Calmar ratio Return relative to maximum drawdown	2.40	2.45	-0.05
Martin ratio Return relative to average drawdown	10.70	10.23	+0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AONIX vs. VASIX - Sharpe Ratio Comparison

The current AONIX Sharpe Ratio is 2.15, which is comparable to the VASIX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of AONIX and VASIX, 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

	AONIX	VASIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.13	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.50	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.83	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.12	-0.26

Drawdowns

AONIX vs. VASIX - Drawdown Comparison

The maximum AONIX drawdown since its inception was -15.27%, smaller than the maximum VASIX drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for AONIX and VASIX.

Drawdown Indicators

	AONIX	VASIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.27%	-18.17%	+2.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	-3.90%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-5.08%	-5.58%	+0.50%
Max Drawdown (5Y) Largest decline over 5 years	-15.27%	-18.17%	+2.90%
Max Drawdown (10Y) Largest decline over 10 years	-15.27%	-18.17%	+2.90%
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-1.98%	-1.92%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.93%	-0.14%

Volatility

AONIX vs. VASIX - Volatility Comparison

The current volatility for American Century Investments One Choice Portfolio: Very Conservative (AONIX) is 1.31%, while Vanguard LifeStrategy Income Fund (VASIX) has a volatility of 1.71%. This indicates that AONIX experiences smaller price fluctuations and is considered to be less risky than VASIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AONIX	VASIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	1.71%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	3.06%	3.65%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	4.43%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.40%	5.75%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.25%	4.93%	+0.32%

AONIX vs. VASIX - Expense Ratio Comparison

AONIX has a 0.00% expense ratio, which is lower than VASIX's 0.11% 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

AONIX vs. VASIX - Dividend Comparison

AONIX's dividend yield for the trailing twelve months is around 3.55%, less than VASIX's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AONIX American Century Investments One Choice Portfolio: Very Conservative	3.55%	3.82%	3.10%	2.80%	7.19%	6.36%	3.46%	3.57%	5.83%	3.08%	2.16%	2.79%
VASIX Vanguard LifeStrategy Income Fund	4.12%	4.18%	7.61%	3.17%	2.02%	3.95%	2.15%	2.73%	3.55%	1.52%	2.26%	2.57%

Frequently Asked Questions

Can I hold both AONIX and VASIX in my portfolio?

With a correlation of 0.92, AONIX and VASIX 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, AONIX or VASIX?

VASIX has higher volatility (1.71%) compared to AONIX (1.31%). In terms of maximum drawdown, AONIX dropped -15.27% vs VASIX's -18.17%.

Which has better risk-adjusted returns?

AONIX currently has the higher Sharpe Ratio (2.15 vs 2.13), 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.