FMIMX vs. VBIAX

Last updated Jun 4, 2026

FMIMX (FMI Common Stock Fund) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - FMIMX is a Mid Cap Blend Equities fund managed by FMI Funds, while VBIAX is a Diversified Portfolio fund tracking the 60% CRSP US Total Market Index / 40% Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, FMIMX returned 11.03%/yr vs 9.83%/yr for VBIAX. Their correlation of 0.84 suggests significant overlap in exposure. FMIMX charges 1.01%/yr vs 0.07%/yr for VBIAX.

Performance

FMIMX vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMI Common Stock Fund (FMIMX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMIMX achieves a 8.99% return, which is significantly higher than VBIAX's 7.35% return. Over the past 10 years, FMIMX has outperformed VBIAX with an annualized return of 11.03%, while VBIAX has yielded a comparatively lower 9.83% annualized return.

FMIMX

• 1D: 0.41%
• 1M: 4.03%
• YTD: 8.99%
• 6M: 8.45%
• 1Y: 11.27%
• 3Y*: 12.60%
• 5Y*: 8.72%
• 10Y*: 11.03%

VBIAX

• 1D: 0.15%
• 1M: 3.71%
• YTD: 7.35%
• 6M: 7.26%
• 1Y: 19.35%
• 3Y*: 15.04%
• 5Y*: 8.01%
• 10Y*: 9.83%

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

FMIMX vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMIMX FMI Common Stock Fund	8.99%	2.12%	10.38%	24.85%	-5.95%	30.52%	5.79%	24.80%	-8.77%	13.92%
VBIAX Vanguard Balanced Index Fund Admiral Shares	7.35%	13.61%	14.58%	17.54%	-16.90%	14.21%	16.40%	21.78%	-2.86%	13.89%

Correlation

The correlation between FMIMX and VBIAX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000	0.84

The correlation between FMIMX and VBIAX shifts across timeframes, from 0.67 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FMIMX vs. VBIAX — Risk / Return Rank

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

FMIMX

FMIMX Risk / Return Rank: 10
FMIMX Sharpe Ratio Rank: 10
FMIMX Sortino Ratio Rank: 11
FMIMX Omega Ratio Rank: 10
FMIMX Calmar Ratio Rank: 10
FMIMX Martin Ratio Rank: 8

VBIAX

VBIAX Risk / Return Rank: 76
VBIAX Sharpe Ratio Rank: 76
VBIAX Sortino Ratio Rank: 74
VBIAX Omega Ratio Rank: 70
VBIAX Calmar Ratio Rank: 75
VBIAX Martin Ratio Rank: 83

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.

FMIMX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMI Common Stock Fund (FMIMX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). 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.

	FMIMX	VBIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	2.52	-1.74
Sortino ratio: Return per unit of downside risk	1.29	3.59	-2.30
Omega ratio: Gain probability vs. loss probability	1.15	1.47	-0.32
Calmar ratio: Return relative to maximum drawdown	0.97	3.42	-2.45
Martin ratio: Return relative to average drawdown	2.43	15.60	-13.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMIMX vs. VBIAX - Sharpe Ratio Comparison

The current FMIMX Sharpe Ratio is 0.78, which is lower than the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FMIMX and VBIAX, 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

	FMIMX	VBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	2.52	-1.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.73	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.88	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.64	-0.12

Drawdowns

FMIMX vs. VBIAX - Drawdown Comparison

The maximum FMIMX drawdown since its inception was -59.09%, which is greater than VBIAX's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for FMIMX and VBIAX.

Drawdown Indicators

	FMIMX	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.09%	-35.90%	-23.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-5.83%	-7.97%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-11.70%	-9.61%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	-21.53%	+0.22%
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	-22.78%	-15.29%
Current Drawdown Current decline from peak	-4.54%	0.00%	-4.54%
Average Drawdown Average peak-to-trough decline	-10.45%	-4.44%	-6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.52%	1.27%	+4.25%

Volatility

FMIMX vs. VBIAX - Volatility Comparison

FMI Common Stock Fund (FMIMX) has a higher volatility of 4.56% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that FMIMX's price experiences larger fluctuations and is considered to be riskier than VBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMIMX	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	2.26%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	12.31%	6.11%	+6.20%
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	7.90%	+9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.66%	11.05%	+7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	11.21%	+8.05%

FMIMX vs. VBIAX - Expense Ratio Comparison

FMIMX has a 1.01% expense ratio, which is higher than VBIAX's 0.07% expense ratio.

Dividends

FMIMX vs. VBIAX - Dividend Comparison

FMIMX's dividend yield for the trailing twelve months is around 12.15%, more than VBIAX's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIMX FMI Common Stock Fund	12.15%	13.24%	2.01%	2.84%	6.65%	12.44%	0.76%	4.93%	10.17%	11.82%	4.92%	10.77%
VBIAX Vanguard Balanced Index Fund Admiral Shares	5.21%	6.00%	5.27%	4.35%	2.83%	3.19%	2.65%	2.28%	2.32%	1.95%	2.09%	2.09%

Frequently Asked Questions

Can I hold both FMIMX and VBIAX in my portfolio?

FMIMX and VBIAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMIMX or VBIAX?

FMIMX has higher volatility (4.56%) compared to VBIAX (2.26%). In terms of maximum drawdown, FMIMX dropped -59.09% vs VBIAX's -35.90%.

Which has better risk-adjusted returns?

VBIAX currently has the higher Sharpe Ratio (2.52 vs 0.78), 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.