AXBAX vs. VFORX

Last updated Aug 5, 2026

AXBAX (Columbia Capital Allocation Aggressive Portfolio) and VFORX (Vanguard Target Retirement 2040 Fund) are both mutual funds - AXBAX is a Diversified Portfolio fund managed by Columbia, while VFORX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, AXBAX returned 10.38%/yr vs 10.23%/yr for VFORX. Their 0.98 correlation means they have historically moved very closely together. AXBAX charges 0.39%/yr vs 0.08%/yr for VFORX.

Performance

AXBAX vs. VFORX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Capital Allocation Aggressive Portfolio (AXBAX) and Vanguard Target Retirement 2040 Fund (VFORX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXBAX achieves a 10.47% return, which is significantly higher than VFORX's 9.49% return. Both investments have delivered pretty close results over the past 10 years, with AXBAX having a 10.38% annualized return and VFORX not far behind at 10.23%.

AXBAX

• 1D: 1.09%
• 1M: 0.95%
• 6M: 8.08%
• YTD: 10.47%
• 1Y: 19.62%
• 3Y*: 17.17%
• 5Y*: 8.74%
• 10Y*: 10.38%
• ALL TIME*: 7.87%

VFORX

• 1D: 0.94%
• 1M: 0.63%
• 6M: 6.65%
• YTD: 9.49%
• 1Y: 18.15%
• 3Y*: 15.91%
• 5Y*: 8.24%
• 10Y*: 10.23%
• ALL TIME*: 8.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AXBAX Columbia Capital Allocation Aggressive Portfolio	$0.00	$0.00	$0.00
VFORX Vanguard Target Retirement 2040 Fund	$0.00	$0.00	$0.00

AXBAX vs. VFORX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AXBAX Columbia Capital Allocation Aggressive Portfolio	10.47%	19.12%	15.47%	19.89%	-19.11%	16.33%	14.11%	23.88%	-9.47%	22.31%
VFORX Vanguard Target Retirement 2040 Fund	9.49%	18.77%	12.90%	18.56%	-17.00%	14.55%	15.48%	23.86%	-7.32%	18.45%

Correlation

The correlation between AXBAX and VFORX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Jun 7, 2006	0.98

The correlation between AXBAX and VFORX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

AXBAX vs. VFORX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AXBAX

AXBAX Risk / Return Rank: 70
AXBAX Sharpe Ratio Rank: 67
AXBAX Sortino Ratio Rank: 65
AXBAX Omega Ratio Rank: 65
AXBAX Calmar Ratio Rank: 73
AXBAX Martin Ratio Rank: 79

VFORX

VFORX Risk / Return Rank: 75
VFORX Sharpe Ratio Rank: 76
VFORX Sortino Ratio Rank: 73
VFORX Omega Ratio Rank: 72
VFORX Calmar Ratio Rank: 74
VFORX Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AXBAX vs. VFORX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Capital Allocation Aggressive Portfolio (AXBAX) and Vanguard Target Retirement 2040 Fund (VFORX). 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.

	AXBAX	VFORX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.83	-0.05
Sortino ratio: Return per unit of downside risk	2.49	2.56	-0.07
Omega ratio: Gain probability vs. loss probability	1.33	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.64	2.54	+0.10
Martin ratio: Return relative to average drawdown	10.84	10.52	+0.32

AXBAX vs. VFORX - Sharpe Ratio Comparison

The current AXBAX Sharpe Ratio is 1.78, which is comparable to the VFORX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of AXBAX and VFORX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AXBAX vs. VFORX - Drawdown Comparison

The maximum AXBAX drawdown since its inception was -50.83%, roughly equal to the maximum VFORX drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for AXBAX and VFORX.

Drawdown Indicators

	AXBAX	VFORX	Difference
Max Drawdown Largest peak-to-trough decline	-50.83%	-51.63%	+0.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-7.70%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-15.11%	-12.12%	-2.99%
Max Drawdown (5Y) Largest decline over 5 years	-25.78%	-24.32%	-1.46%
Max Drawdown (10Y) Largest decline over 10 years	-31.27%	-29.35%	-1.92%
Current Drawdown Current decline from peak	-1.09%	-0.56%	-0.53%
Average Drawdown Average peak-to-trough decline	-6.74%	-6.73%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.86%	+0.09%

Volatility

AXBAX vs. VFORX - Volatility Comparison

Columbia Capital Allocation Aggressive Portfolio (AXBAX) has a higher volatility of 3.75% compared to Vanguard Target Retirement 2040 Fund (VFORX) at 3.28%. This indicates that AXBAX's price experiences larger fluctuations and is considered to be riskier than VFORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXBAX	VFORX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	3.28%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	8.98%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	10.71%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.28%	12.57%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	13.62%	+1.22%

AXBAX vs. VFORX - Expense Ratio Comparison

AXBAX has a 0.39% expense ratio, which is higher than VFORX's 0.08% expense ratio.

Dividends

AXBAX vs. VFORX - Dividend Comparison

AXBAX's dividend yield for the trailing twelve months is around 10.17%, more than VFORX's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXBAX Columbia Capital Allocation Aggressive Portfolio	10.17%	9.81%	5.23%	5.43%	7.50%	13.35%	5.91%	7.55%	10.64%	7.46%	3.76%	7.23%
VFORX Vanguard Target Retirement 2040 Fund	2.53%	2.77%	2.86%	2.38%	2.60%	20.68%	2.06%	2.28%	2.58%	0.04%	2.40%	2.99%

Frequently Asked Questions

Can I hold both AXBAX and VFORX in my portfolio?

With a correlation of 0.98, AXBAX and VFORX 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, AXBAX or VFORX?

AXBAX has higher volatility (3.75%) compared to VFORX (3.28%). In terms of maximum drawdown, AXBAX dropped -50.83% vs VFORX's -51.63%.

Which has better risk-adjusted returns?

VFORX currently has the higher Sharpe Ratio (1.83 vs 1.78), 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.