JABAX vs. VBIAX

Last updated Jun 3, 2026

JABAX (Janus Henderson Balanced Fund Class T) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, JABAX returned 10.83%/yr vs 9.82%/yr for VBIAX. With a 0.95 correlation, they move nearly in lockstep. JABAX charges 0.66%/yr vs 0.07%/yr for VBIAX.

Performance

JABAX vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Balanced Fund Class T (JABAX) 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, JABAX achieves a 3.89% return, which is significantly lower than VBIAX's 7.20% return. Over the past 10 years, JABAX has outperformed VBIAX with an annualized return of 10.83%, while VBIAX has yielded a comparatively lower 9.82% annualized return.

JABAX

• 1D: 0.30%
• 1M: 2.78%
• YTD: 3.89%
• 6M: 3.99%
• 1Y: 15.48%
• 3Y*: 15.66%
• 5Y*: 8.87%
• 10Y*: 10.83%

VBIAX

• 1D: 0.13%
• 1M: 3.18%
• YTD: 7.20%
• 6M: 7.44%
• 1Y: 19.67%
• 3Y*: 14.98%
• 5Y*: 7.90%
• 10Y*: 9.82%

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

JABAX vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JABAX Janus Henderson Balanced Fund Class T	3.89%	14.85%	20.63%	15.29%	-16.70%	17.07%	14.22%	22.40%	0.53%	17.68%
VBIAX Vanguard Balanced Index Fund Admiral Shares	7.20%	13.61%	14.58%	17.54%	-16.90%	14.21%	16.40%	21.78%	-2.86%	13.89%

Correlation

The correlation between JABAX and VBIAX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000	0.95

The correlation between JABAX and VBIAX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

JABAX vs. VBIAX — Risk / Return Rank

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

JABAX

JABAX Risk / Return Rank: 36
JABAX Sharpe Ratio Rank: 38
JABAX Sortino Ratio Rank: 38
JABAX Omega Ratio Rank: 37
JABAX Calmar Ratio Rank: 26
JABAX Martin Ratio Rank: 38

VBIAX

VBIAX Risk / Return Rank: 76
VBIAX Sharpe Ratio Rank: 75
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.

JABAX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Balanced Fund Class T (JABAX) 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.

	JABAX	VBIAX	Difference
Sharpe ratio Return per unit of total volatility	1.82	2.52	-0.71
Sortino ratio Return per unit of downside risk	2.60	3.59	-0.99
Omega ratio Gain probability vs. loss probability	1.33	1.47	-0.14
Calmar ratio Return relative to maximum drawdown	1.95	3.42	-1.48
Martin ratio Return relative to average drawdown	8.43	15.64	-7.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JABAX vs. VBIAX - Sharpe Ratio Comparison

The current JABAX Sharpe Ratio is 1.82, which is comparable to the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of JABAX 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

	JABAX	VBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.52	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.72	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.88	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.64	+0.33

Drawdowns

JABAX vs. VBIAX - Drawdown Comparison

The maximum JABAX drawdown since its inception was -25.98%, smaller than the maximum VBIAX drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for JABAX and VBIAX.

Drawdown Indicators

	JABAX	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-25.98%	-35.90%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-5.83%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-11.70%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-21.60%	-21.53%	-0.07%
Max Drawdown (10Y) Largest decline over 10 years	-22.50%	-22.78%	+0.28%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.15%	-4.44%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.27%	+0.61%

Volatility

JABAX vs. VBIAX - Volatility Comparison

Janus Henderson Balanced Fund Class T (JABAX) has a higher volatility of 2.46% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that JABAX'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

	JABAX	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	2.26%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	6.12%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	8.72%	7.91%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	11.05%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.23%	11.21%	+0.02%

JABAX vs. VBIAX - Expense Ratio Comparison

JABAX has a 0.66% expense ratio, which is higher than VBIAX's 0.07% expense ratio.

Dividends

JABAX vs. VBIAX - Dividend Comparison

JABAX's dividend yield for the trailing twelve months is around 8.39%, more than VBIAX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JABAX Janus Henderson Balanced Fund Class T	8.39%	8.67%	11.71%	2.15%	1.83%	4.38%	2.41%	2.76%	6.95%	4.59%	3.28%	6.18%
VBIAX Vanguard Balanced Index Fund Admiral Shares	5.22%	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 JABAX and VBIAX in my portfolio?

With a correlation of 0.95, JABAX and VBIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JABAX or VBIAX?

JABAX has higher volatility (2.46%) compared to VBIAX (2.26%). In terms of maximum drawdown, JABAX dropped -25.98% vs VBIAX's -35.90%.

Which has better risk-adjusted returns?

VBIAX currently has the higher Sharpe Ratio (2.52 vs 1.82), 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.