OGIAX vs. VTMFX

Last updated Jun 24, 2026

OGIAX (JPMorgan Investor Balanced A) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, OGIAX returned 8.53%/yr vs 8.70%/yr for VTMFX. With a 0.95 correlation, they move nearly in lockstep. OGIAX charges 0.97%/yr vs 0.05%/yr for VTMFX.

Performance

OGIAX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Investor Balanced A (OGIAX) 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 OGIAX having a 5.14% return and VTMFX slightly higher at 5.23%. Both investments have delivered pretty close results over the past 10 years, with OGIAX having a 8.53% annualized return and VTMFX not far ahead at 8.70%.

OGIAX

• 1D: -0.23%
• 1M: 1.22%
• YTD: 5.14%
• 6M: 4.74%
• 1Y: 13.54%
• 3Y*: 11.59%
• 5Y*: 5.94%
• 10Y*: 8.53%

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)

OGIAX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OGIAX JPMorgan Investor Balanced A	5.14%	12.46%	9.00%	14.74%	-13.87%	11.73%	13.91%	22.60%	-5.01%	13.03%
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 OGIAX and VTMFX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 10, 1996	0.95

The correlation between OGIAX and VTMFX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

OGIAX vs. VTMFX — Risk / Return Rank

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

OGIAX

OGIAX Risk / Return Rank: 53
OGIAX Sharpe Ratio Rank: 52
OGIAX Sortino Ratio Rank: 54
OGIAX Omega Ratio Rank: 54
OGIAX Calmar Ratio Rank: 48
OGIAX Martin Ratio Rank: 58

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.

OGIAX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Investor Balanced A (OGIAX) 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.

	OGIAX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.43	-0.46
Sortino ratio: Return per unit of downside risk	2.83	3.42	-0.59
Omega ratio: Gain probability vs. loss probability	1.37	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	2.53	2.91	-0.38
Martin ratio: Return relative to average drawdown	10.92	13.60	-2.69

OGIAX vs. VTMFX - Sharpe Ratio Comparison

The current OGIAX Sharpe Ratio is 1.96, which is comparable to the VTMFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of OGIAX 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

OGIAX vs. VTMFX - Drawdown Comparison

The maximum OGIAX drawdown since its inception was -29.75%, roughly equal to the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for OGIAX and VTMFX.

Drawdown Indicators

	OGIAX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-29.75%	-28.49%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-5.62%	-5.38%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-8.70%	-10.61%	+1.91%
Max Drawdown (5Y) Largest decline over 5 years	-18.78%	-17.40%	-1.38%
Max Drawdown (10Y) Largest decline over 10 years	-21.07%	-21.87%	+0.80%
Current Drawdown Current decline from peak	-0.23%	-0.75%	+0.52%
Average Drawdown Average peak-to-trough decline	-3.57%	-3.54%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	1.15%	+0.15%

Volatility

OGIAX vs. VTMFX - Volatility Comparison

JPMorgan Investor Balanced A (OGIAX) has a higher volatility of 2.80% compared to Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) at 2.45%. This indicates that OGIAX's price experiences larger fluctuations and is considered to be riskier than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OGIAX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	2.45%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	5.99%	5.18%	+0.81%
Volatility (1Y) Calculated over the trailing 1-year period	7.26%	6.46%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	8.57%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.34%	9.15%	+0.19%

OGIAX vs. VTMFX - Expense Ratio Comparison

OGIAX has a 0.97% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

OGIAX vs. VTMFX - Dividend Comparison

OGIAX's dividend yield for the trailing twelve months is around 5.63%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OGIAX JPMorgan Investor Balanced A	5.63%	5.87%	5.76%	3.28%	6.82%	5.11%	5.99%	11.18%	7.63%	6.70%	3.56%	4.94%
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 OGIAX and VTMFX in my portfolio?

With a correlation of 0.95, OGIAX and VTMFX 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, OGIAX or VTMFX?

OGIAX has higher volatility (2.80%) compared to VTMFX (2.45%). In terms of maximum drawdown, OGIAX dropped -29.75% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.43 vs 1.96), 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.