IHAYX vs. VTMFX

Last updated Jun 23, 2026

IHAYX (Hartford Multi-Asset Income Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, IHAYX returned 6.36%/yr vs 8.70%/yr for VTMFX. Their correlation of 0.92 suggests significant overlap in exposure. IHAYX charges 0.74%/yr vs 0.05%/yr for VTMFX.

Performance

IHAYX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Multi-Asset Income Fund (IHAYX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IHAYX having a 5.18% return and VTMFX slightly higher at 5.23%. Over the past 10 years, IHAYX has underperformed VTMFX with an annualized return of 6.36%, while VTMFX has yielded a comparatively higher 8.70% annualized return.

IHAYX

• 1D: 0.29%
• 1M: 1.06%
• YTD: 5.18%
• 6M: 5.33%
• 1Y: 14.50%
• 3Y*: 10.14%
• 5Y*: 5.12%
• 10Y*: 6.36%

VTMFX

• 1D: -0.19%
• 1M: 0.76%
• YTD: 5.23%
• 6M: 4.83%
• 1Y: 14.99%
• 3Y*: 12.08%
• 5Y*: 7.01%
• 10Y*: 8.70%

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

IHAYX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHAYX Hartford Multi-Asset Income Fund	5.18%	13.26%	6.54%	10.55%	-11.57%	7.31%	6.42%	15.50%	-5.07%	15.50%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.23%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between IHAYX and VTMFX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 22, 1996	0.92

The correlation between IHAYX and VTMFX shifts across timeframes, from 0.81 (3 years) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IHAYX vs. VTMFX — Risk / Return Rank

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

IHAYX

IHAYX Risk / Return Rank: 71
IHAYX Sharpe Ratio Rank: 81
IHAYX Sortino Ratio Rank: 77
IHAYX Omega Ratio Rank: 81
IHAYX Calmar Ratio Rank: 56
IHAYX Martin Ratio Rank: 62

VTMFX

VTMFX Risk / Return Rank: 76
VTMFX Sharpe Ratio Rank: 80
VTMFX Sortino Ratio Rank: 78
VTMFX Omega Ratio Rank: 78
VTMFX Calmar Ratio Rank: 63
VTMFX Martin Ratio Rank: 78

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.

IHAYX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Multi-Asset Income Fund (IHAYX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	IHAYX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.43	+0.01
Sortino ratio: Return per unit of downside risk	3.38	3.42	-0.04
Omega ratio: Gain probability vs. loss probability	1.49	1.46	+0.02
Calmar ratio: Return relative to maximum drawdown	2.74	2.91	-0.17
Martin ratio: Return relative to average drawdown	11.56	13.60	-2.05

IHAYX vs. VTMFX - Sharpe Ratio Comparison

The current IHAYX Sharpe Ratio is 2.43, which is comparable to the VTMFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of IHAYX and VTMFX, 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

IHAYX vs. VTMFX - Drawdown Comparison

The maximum IHAYX drawdown since its inception was -45.46%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for IHAYX and VTMFX.

Drawdown Indicators

	IHAYX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-28.49%	-16.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.34%	-5.38%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-6.99%	-10.61%	+3.62%
Max Drawdown (5Y) Largest decline over 5 years	-16.52%	-17.40%	+0.88%
Max Drawdown (10Y) Largest decline over 10 years	-19.39%	-21.87%	+2.48%
Current Drawdown Current decline from peak	-0.28%	-0.75%	+0.47%
Average Drawdown Average peak-to-trough decline	-5.27%	-3.54%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.15%	+0.11%

Volatility

IHAYX vs. VTMFX - Volatility Comparison

The current volatility for Hartford Multi-Asset Income Fund (IHAYX) is 2.27%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 2.45%. This indicates that IHAYX experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHAYX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	2.45%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	5.18%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	6.01%	6.46%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.52%	8.57%	-2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.34%	9.15%	-1.81%

IHAYX vs. VTMFX - Expense Ratio Comparison

IHAYX has a 0.74% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

IHAYX vs. VTMFX - Dividend Comparison

IHAYX's dividend yield for the trailing twelve months is around 6.22%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHAYX Hartford Multi-Asset Income Fund	6.22%	6.46%	5.19%	4.05%	4.77%	7.52%	3.24%	18.46%	8.98%	1.51%	1.67%	2.20%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both IHAYX and VTMFX in my portfolio?

IHAYX and VTMFX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHAYX or VTMFX?

VTMFX has higher volatility (2.45%) compared to IHAYX (2.27%). In terms of maximum drawdown, IHAYX dropped -45.46% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

IHAYX currently has the higher Sharpe Ratio (2.43 vs 2.43), 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.