BKYI vs. VFORX

Last updated Jun 24, 2026

BKYI (BIO-key International, Inc.) is a stock, while VFORX (Vanguard Target Retirement 2040 Fund) is Target Retirement Date fund managed by Vanguard. Over the past 10 years, BKYI returned -50.07%/yr vs 10.97%/yr for VFORX. At a 0.09 correlation, their price movements are largely independent.

Performance

BKYI vs. VFORX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BIO-key International, Inc. (BKYI) 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, BKYI achieves a -13.56% return, which is significantly lower than VFORX's 9.51% return. Over the past 10 years, BKYI has underperformed VFORX with an annualized return of -50.07%, while VFORX has yielded a comparatively higher 10.97% annualized return.

BKYI

• 1D: 19.49%
• 1M: -1.89%
• YTD: -13.56%
• 6M: -25.44%
• 1Y: -43.72%
• 3Y*: -67.15%
• 5Y*: -63.47%
• 10Y*: -50.07%

VFORX

• 1D: -0.15%
• 1M: 1.41%
• YTD: 9.51%
• 6M: 9.03%
• 1Y: 22.39%
• 3Y*: 16.82%
• 5Y*: 8.64%
• 10Y*: 10.97%

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

BKYI vs. VFORX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BKYI BIO-key International, Inc.	-13.56%	-68.47%	-43.00%	-71.51%	-73.52%	-37.22%	-12.00%	-33.33%	-57.63%	-33.21%
VFORX Vanguard Target Retirement 2040 Fund	9.51%	18.77%	12.90%	18.56%	-17.00%	14.55%	15.48%	23.86%	-7.32%	18.45%

Correlation

The correlation between BKYI and VFORX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 7, 2006	0.09

Return for Risk

BKYI vs. VFORX — Risk / Return Rank

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

BKYI

BKYI Risk / Return Rank: 23
BKYI Sharpe Ratio Rank: 25
BKYI Sortino Ratio Rank: 30
BKYI Omega Ratio Rank: 30
BKYI Calmar Ratio Rank: 18
BKYI Martin Ratio Rank: 13

VFORX

VFORX Risk / Return Rank: 70
VFORX Sharpe Ratio Rank: 72
VFORX Sortino Ratio Rank: 69
VFORX Omega Ratio Rank: 69
VFORX Calmar Ratio Rank: 68
VFORX Martin Ratio Rank: 73

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.

BKYI vs. VFORX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BIO-key International, Inc. (BKYI) 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.

	BKYI	VFORX	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	2.26	-2.67
Sortino ratio: Return per unit of downside risk	-0.05	3.14	-3.19
Omega ratio: Gain probability vs. loss probability	0.99	1.42	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.66	3.02	-3.68
Martin ratio: Return relative to average drawdown	-1.27	13.04	-14.31

BKYI vs. VFORX - Sharpe Ratio Comparison

The current BKYI Sharpe Ratio is -0.41, which is lower than the VFORX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of BKYI 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

BKYI vs. VFORX - Drawdown Comparison

The maximum BKYI drawdown since its inception was -100.00%, which is greater than VFORX's maximum drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for BKYI and VFORX.

Drawdown Indicators

	BKYI	VFORX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-51.63%	-48.37%
Max Drawdown (1Y) Largest decline over 1 year	-66.41%	-7.70%	-58.71%
Max Drawdown (3Y) Largest decline over 3 years	-97.54%	-12.12%	-85.42%
Max Drawdown (5Y) Largest decline over 5 years	-99.52%	-24.32%	-75.20%
Max Drawdown (10Y) Largest decline over 10 years	-99.93%	-29.35%	-70.58%
Current Drawdown Current decline from peak	-100.00%	-0.55%	-99.45%
Average Drawdown Average peak-to-trough decline	-88.55%	-6.76%	-81.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.50%	1.78%	+32.72%

Volatility

BKYI vs. VFORX - Volatility Comparison

BIO-key International, Inc. (BKYI) has a higher volatility of 26.10% compared to Vanguard Target Retirement 2040 Fund (VFORX) at 4.07%. This indicates that BKYI'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

	BKYI	VFORX	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.10%	4.07%	+22.03%
Volatility (6M) Calculated over the trailing 6-month period	77.78%	8.54%	+69.24%
Volatility (1Y) Calculated over the trailing 1-year period	107.26%	10.32%	+96.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	116.20%	12.52%	+103.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	122.66%	13.70%	+108.96%

Dividends

BKYI vs. VFORX - Dividend Comparison

BKYI has not paid dividends to shareholders, while VFORX's dividend yield for the trailing twelve months is around 2.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKYI BIO-key International, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 BKYI and VFORX in my portfolio?

BKYI and VFORX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BKYI or VFORX?

BKYI has higher volatility (26.10%) compared to VFORX (4.07%). In terms of maximum drawdown, BKYI dropped -100.00% vs VFORX's -51.63%.

Which has better risk-adjusted returns?

VFORX currently has the higher Sharpe Ratio (2.26 vs -0.41), 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.