IVOO vs. BIAPX

Last updated Jun 3, 2026

IVOO (Vanguard S&P Mid-Cap 400 ETF) and BIAPX (BlackRock 80/20 Target Allocation Fund) are both funds - IVOO is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Index, while BIAPX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, IVOO returned 11.22%/yr vs 10.59%/yr for BIAPX. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

IVOO vs. BIAPX - Performance Comparison

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

Returns By Period

In the year-to-date period, IVOO achieves a 14.15% return, which is significantly higher than BIAPX's 12.35% return. Over the past 10 years, IVOO has outperformed BIAPX with an annualized return of 11.22%, while BIAPX has yielded a comparatively lower 10.59% annualized return.

IVOO

• 1D: 0.86%
• 1M: 3.31%
• YTD: 14.15%
• 6M: 15.23%
• 1Y: 27.06%
• 3Y*: 16.07%
• 5Y*: 8.27%
• 10Y*: 11.22%

BIAPX

• 1D: 0.29%
• 1M: 5.39%
• YTD: 12.35%
• 6M: 13.16%
• 1Y: 27.49%
• 3Y*: 15.25%
• 5Y*: 7.99%
• 10Y*: 10.59%

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

IVOO vs. BIAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVOO Vanguard S&P Mid-Cap 400 ETF	14.15%	7.47%	13.77%	16.45%	-13.17%	24.61%	13.61%	26.18%	-11.33%	16.38%
BIAPX BlackRock 80/20 Target Allocation Fund	12.35%	18.33%	5.46%	19.20%	-16.15%	14.95%	19.50%	24.72%	-7.62%	17.47%

Correlation

The correlation between IVOO and BIAPX is 0.72, 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	0.72
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 IVOO and BIAPX shifts across timeframes, from 0.72 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IVOO vs. BIAPX — Risk / Return Rank

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

IVOO

IVOO Risk / Return Rank: 54
IVOO Sharpe Ratio Rank: 50
IVOO Sortino Ratio Rank: 52
IVOO Omega Ratio Rank: 48
IVOO Calmar Ratio Rank: 61
IVOO Martin Ratio Rank: 62

BIAPX

BIAPX Risk / Return Rank: 75
BIAPX Sharpe Ratio Rank: 78
BIAPX Sortino Ratio Rank: 75
BIAPX Omega Ratio Rank: 71
BIAPX Calmar Ratio Rank: 72
BIAPX Martin Ratio Rank: 81

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.

IVOO vs. BIAPX - Risk-Adjusted Trends Comparison

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

	IVOO	BIAPX	Difference
Sharpe ratio Return per unit of total volatility	1.75	2.56	-0.82
Sortino ratio Return per unit of downside risk	2.54	3.62	-1.08
Omega ratio Gain probability vs. loss probability	1.31	1.47	-0.16
Calmar ratio Return relative to maximum drawdown	3.06	3.31	-0.25
Martin ratio Return relative to average drawdown	11.19	15.32	-4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVOO vs. BIAPX - Sharpe Ratio Comparison

The current IVOO Sharpe Ratio is 1.75, which is lower than the BIAPX Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of IVOO and BIAPX, 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

	IVOO	BIAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	2.56	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.55	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.76	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.45	+0.16

Drawdowns

IVOO vs. BIAPX - Drawdown Comparison

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

Drawdown Indicators

	IVOO	BIAPX	Difference
Max Drawdown Largest peak-to-trough decline	-42.33%	-53.40%	+11.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-8.64%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.22%	-20.90%	-3.32%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-23.29%	-0.93%
Max Drawdown (10Y) Largest decline over 10 years	-42.33%	-27.13%	-15.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.27%	-8.00%	+2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	1.87%	+0.54%

Volatility

IVOO vs. BIAPX - Volatility Comparison

Vanguard S&P Mid-Cap 400 ETF (IVOO) has a higher volatility of 4.46% compared to BlackRock 80/20 Target Allocation Fund (BIAPX) at 3.70%. This indicates that IVOO's price experiences larger fluctuations and is considered to be riskier than BIAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOO	BIAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	3.70%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	11.38%	9.31%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	11.10%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	14.53%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.20%	14.04%	+7.16%

IVOO vs. BIAPX - Expense Ratio Comparison

Both IVOO and BIAPX 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

IVOO vs. BIAPX - Dividend Comparison

IVOO's dividend yield for the trailing twelve months is around 1.19%, less than BIAPX's 5.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIAPX BlackRock 80/20 Target Allocation Fund	5.32%	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 IVOO and BIAPX in my portfolio?

IVOO and BIAPX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOO or BIAPX?

IVOO has higher volatility (4.46%) compared to BIAPX (3.70%). In terms of maximum drawdown, IVOO dropped -42.33% vs BIAPX's -53.40%.

Which has better risk-adjusted returns?

BIAPX currently has the higher Sharpe Ratio (2.56 vs 1.75), 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.