BIAPX vs. IVOO

Last updated Jun 4, 2026

BIAPX (BlackRock 80/20 Target Allocation Fund) and IVOO (Vanguard S&P Mid-Cap 400 ETF) are both funds - BIAPX is a Diversified Portfolio fund managed by BlackRock, while IVOO is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Index. Over the past 10 years, BIAPX returned 10.63%/yr vs 11.22%/yr for IVOO. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

BIAPX vs. IVOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock 80/20 Target Allocation Fund (BIAPX) and Vanguard S&P Mid-Cap 400 ETF (IVOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIAPX achieves a 12.78% return, which is significantly lower than IVOO's 14.13% return. Over the past 10 years, BIAPX has underperformed IVOO with an annualized return of 10.63%, while IVOO has yielded a comparatively higher 11.22% annualized return.

BIAPX

• 1D: 0.38%
• 1M: 6.22%
• YTD: 12.78%
• 6M: 13.30%
• 1Y: 27.61%
• 3Y*: 15.39%
• 5Y*: 8.16%
• 10Y*: 10.63%

IVOO

• 1D: -0.02%
• 1M: 3.90%
• YTD: 14.13%
• 6M: 14.37%
• 1Y: 25.48%
• 3Y*: 16.07%
• 5Y*: 8.15%
• 10Y*: 11.22%

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

BIAPX vs. IVOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIAPX BlackRock 80/20 Target Allocation Fund	12.78%	18.33%	5.46%	19.20%	-16.15%	14.95%	19.50%	24.72%	-7.62%	17.47%
IVOO Vanguard S&P Mid-Cap 400 ETF	14.13%	7.47%	13.77%	16.45%	-13.17%	24.61%	13.61%	26.18%	-11.33%	16.38%

Correlation

The correlation between BIAPX and IVOO is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.84

The correlation between BIAPX and IVOO shifts across timeframes, from 0.73 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BIAPX vs. IVOO — Risk / Return Rank

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

BIAPX

BIAPX Risk / Return Rank: 75
BIAPX Sharpe Ratio Rank: 77
BIAPX Sortino Ratio Rank: 75
BIAPX Omega Ratio Rank: 70
BIAPX Calmar Ratio Rank: 71
BIAPX Martin Ratio Rank: 80

IVOO

IVOO Risk / Return Rank: 51
IVOO Sharpe Ratio Rank: 46
IVOO Sortino Ratio Rank: 48
IVOO Omega Ratio Rank: 45
IVOO Calmar Ratio Rank: 58
IVOO Martin Ratio Rank: 59

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.

BIAPX vs. IVOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock 80/20 Target Allocation Fund (BIAPX) and Vanguard S&P Mid-Cap 400 ETF (IVOO). 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.

	BIAPX	IVOO	Difference
Sharpe ratio Return per unit of total volatility	2.55	1.65	+0.90
Sortino ratio Return per unit of downside risk	3.60	2.41	+1.19
Omega ratio Gain probability vs. loss probability	1.47	1.29	+0.18
Calmar ratio Return relative to maximum drawdown	3.27	2.91	+0.36
Martin ratio Return relative to average drawdown	15.06	10.61	+4.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIAPX vs. IVOO - Sharpe Ratio Comparison

The current BIAPX Sharpe Ratio is 2.55, which is higher than the IVOO Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of BIAPX and IVOO, 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

	BIAPX	IVOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.65	+0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.42	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.53	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.62	-0.16

Drawdowns

BIAPX vs. IVOO - Drawdown Comparison

The maximum BIAPX drawdown since its inception was -53.40%, which is greater than IVOO's maximum drawdown of -42.33%. Use the drawdown chart below to compare losses from any high point for BIAPX and IVOO.

Drawdown Indicators

	BIAPX	IVOO	Difference
Max Drawdown Largest peak-to-trough decline	-53.40%	-42.33%	-11.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-8.81%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-24.22%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-24.22%	+0.93%
Max Drawdown (10Y) Largest decline over 10 years	-27.13%	-42.33%	+15.20%
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.99%	-5.27%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.41%	-0.54%

Volatility

BIAPX vs. IVOO - Volatility Comparison

The current volatility for BlackRock 80/20 Target Allocation Fund (BIAPX) is 3.70%, while Vanguard S&P Mid-Cap 400 ETF (IVOO) has a volatility of 4.39%. This indicates that BIAPX experiences smaller price fluctuations and is considered to be less risky than IVOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIAPX	IVOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	4.39%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	11.36%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	15.56%	-4.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	19.72%	-5.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.04%	21.19%	-7.15%

BIAPX vs. IVOO - Expense Ratio Comparison

Both BIAPX and IVOO have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BIAPX vs. IVOO - Dividend Comparison

BIAPX's dividend yield for the trailing twelve months is around 5.30%, more than IVOO's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIAPX BlackRock 80/20 Target Allocation Fund	5.30%	5.98%	0.00%	4.28%	2.30%	6.04%	2.07%	2.49%	6.26%	3.12%	1.67%	13.86%
IVOO Vanguard S&P Mid-Cap 400 ETF	1.19%	1.35%	1.30%	1.25%	1.58%	1.14%	1.23%	1.49%	1.56%	1.22%	1.37%	1.45%

Frequently Asked Questions

Can I hold both BIAPX and IVOO in my portfolio?

BIAPX and IVOO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIAPX or IVOO?

IVOO has higher volatility (4.39%) compared to BIAPX (3.70%). In terms of maximum drawdown, BIAPX dropped -53.40% vs IVOO's -42.33%.

Which has better risk-adjusted returns?

BIAPX currently has the higher Sharpe Ratio (2.55 vs 1.65), 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.