INPAX vs. VBAIX

Last updated Aug 5, 2026

INPAX (American Funds Conservative Growth and Income Portfolio) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both Diversified Portfolio funds. Over the past 10 years, INPAX returned 6.94%/yr vs 9.78%/yr for VBAIX. Their correlation of 0.90 means they have usually moved in the same direction. INPAX charges 0.33%/yr vs 0.04%/yr for VBAIX.

Performance

INPAX vs. VBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Conservative Growth and Income Portfolio (INPAX) and Vanguard Balanced Index Fund Institutional Shares (VBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INPAX achieves a 5.36% return, which is significantly lower than VBAIX's 7.19% return. Over the past 10 years, INPAX has underperformed VBAIX with an annualized return of 6.94%, while VBAIX has yielded a comparatively higher 9.78% annualized return.

INPAX

• 1D: 0.34%
• 1M: 0.48%
• 6M: 3.18%
• YTD: 5.36%
• 1Y: 10.61%
• 3Y*: 11.20%
• 5Y*: 6.26%
• 10Y*: 6.94%
• ALL TIME*: 7.20%

VBAIX

• 1D: 1.02%
• 1M: 0.46%
• 6M: 6.25%
• YTD: 7.19%
• 1Y: 13.75%
• 3Y*: 15.01%
• 5Y*: 7.77%
• 10Y*: 9.78%
• ALL TIME*: 7.45%

*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)
INPAX American Funds Conservative Growth and Income Portfolio	$0.00	$0.00	$0.00
VBAIX Vanguard Balanced Index Fund Institutional Shares	$0.00	$0.00	$0.00

INPAX vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INPAX American Funds Conservative Growth and Income Portfolio	5.36%	13.33%	9.26%	9.53%	-8.71%	12.96%	5.72%	15.82%	-3.60%	11.57%
VBAIX Vanguard Balanced Index Fund Institutional Shares	7.19%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%

Correlation

The correlation between INPAX and VBAIX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since May 21, 2012	0.90

The correlation between INPAX and VBAIX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

INPAX vs. VBAIX — Risk / Return Rank

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

INPAX

INPAX Risk / Return Rank: 65
INPAX Sharpe Ratio Rank: 75
INPAX Sortino Ratio Rank: 72
INPAX Omega Ratio Rank: 75
INPAX Calmar Ratio Rank: 46
INPAX Martin Ratio Rank: 59

VBAIX

VBAIX Risk / Return Rank: 72
VBAIX Sharpe Ratio Rank: 69
VBAIX Sortino Ratio Rank: 68
VBAIX Omega Ratio Rank: 65
VBAIX Calmar Ratio Rank: 74
VBAIX Martin Ratio Rank: 82

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.

INPAX vs. VBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Conservative Growth and Income Portfolio (INPAX) and Vanguard Balanced Index Fund Institutional Shares (VBAIX). 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.

	INPAX	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.74	+0.11
Sortino ratio: Return per unit of downside risk	2.60	2.47	+0.13
Omega ratio: Gain probability vs. loss probability	1.35	1.31	+0.04
Calmar ratio: Return relative to maximum drawdown	1.96	2.55	-0.60
Martin ratio: Return relative to average drawdown	8.45	10.90	-2.45

INPAX vs. VBAIX - Sharpe Ratio Comparison

The current INPAX Sharpe Ratio is 1.85, which is comparable to the VBAIX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of INPAX and VBAIX, 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

INPAX vs. VBAIX - Drawdown Comparison

The maximum INPAX drawdown since its inception was -21.25%, smaller than the maximum VBAIX drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for INPAX and VBAIX.

Drawdown Indicators

	INPAX	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.25%	-35.82%	+14.57%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-5.84%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-7.77%	-11.57%	+3.80%
Max Drawdown (5Y) Largest decline over 5 years	-15.36%	-21.52%	+6.16%
Max Drawdown (10Y) Largest decline over 10 years	-21.25%	-22.77%	+1.52%
Current Drawdown Current decline from peak	0.00%	-0.19%	+0.19%
Average Drawdown Average peak-to-trough decline	-2.29%	-4.40%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	1.36%	0.00%

Volatility

INPAX vs. VBAIX - Volatility Comparison

The current volatility for American Funds Conservative Growth and Income Portfolio (INPAX) is 1.34%, while Vanguard Balanced Index Fund Institutional Shares (VBAIX) has a volatility of 2.55%. This indicates that INPAX experiences smaller price fluctuations and is considered to be less risky than VBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INPAX	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	2.55%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	5.05%	6.90%	-1.85%
Volatility (1Y) Calculated over the trailing 1-year period	6.24%	8.59%	-2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.57%	11.20%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.32%	11.26%	-2.94%

INPAX vs. VBAIX - Expense Ratio Comparison

INPAX has a 0.33% expense ratio, which is higher than VBAIX's 0.04% expense ratio.

Dividends

INPAX vs. VBAIX - Dividend Comparison

INPAX's dividend yield for the trailing twelve months is around 4.78%, less than VBAIX's 5.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INPAX American Funds Conservative Growth and Income Portfolio	4.78%	4.87%	5.21%	4.82%	4.90%	4.43%	5.59%	4.57%	4.85%	3.29%	3.58%	3.90%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.32%	6.01%	8.01%	4.36%	2.84%	3.20%	2.65%	2.29%	2.33%	1.96%	2.10%	2.10%

Frequently Asked Questions

Can I hold both INPAX and VBAIX in my portfolio?

INPAX and VBAIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INPAX or VBAIX?

VBAIX has higher volatility (2.55%) compared to INPAX (1.34%). In terms of maximum drawdown, INPAX dropped -21.25% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

INPAX currently has the higher Sharpe Ratio (1.85 vs 1.74), 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.