SAMIX vs. VBAIX

Last updated Aug 1, 2026

SAMIX (Saratoga Moderately Aggressive Balanced Allocation Portfolio) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both Diversified Portfolio funds. Over the past 5 years, SAMIX returned 6.49%/yr vs 7.53%/yr for VBAIX. Their correlation of 0.93 means they have usually moved in the same direction. SAMIX charges 0.99%/yr vs 0.04%/yr for VBAIX.

Performance

SAMIX vs. VBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) 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, SAMIX achieves a 3.57% return, which is significantly lower than VBAIX's 5.84% return.

SAMIX

• 1D: 1.22%
• 1M: -2.12%
• 6M: 2.21%
• YTD: 3.57%
• 1Y: 9.38%
• 3Y*: 10.84%
• 5Y*: 6.49%
• 10Y*: —
• ALL TIME*: 7.08%

VBAIX

• 1D: 1.01%
• 1M: -0.81%
• 6M: 4.74%
• YTD: 5.84%
• 1Y: 13.39%
• 3Y*: 13.84%
• 5Y*: 7.53%
• 10Y*: 9.67%
• ALL TIME*: 7.40%

*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)
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	$0.00	$0.00	$0.00
VBAIX Vanguard Balanced Index Fund Institutional Shares	$0.00	$0.00	$0.00

SAMIX vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	3.57%	12.60%	11.53%	13.68%	-10.56%	14.08%	9.36%	17.88%	-7.54%	0.00%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.84%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	-0.29%

Correlation

The correlation between SAMIX and VBAIX is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Dec 29, 2017	0.93

The correlation between SAMIX and VBAIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

SAMIX vs. VBAIX — Risk / Return Rank

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

SAMIX

SAMIX Risk / Return Rank: 24
SAMIX Sharpe Ratio Rank: 22
SAMIX Sortino Ratio Rank: 22
SAMIX Omega Ratio Rank: 20
SAMIX Calmar Ratio Rank: 25
SAMIX Martin Ratio Rank: 30

VBAIX

VBAIX Risk / Return Rank: 65
VBAIX Sharpe Ratio Rank: 62
VBAIX Sortino Ratio Rank: 61
VBAIX Omega Ratio Rank: 59
VBAIX Calmar Ratio Rank: 67
VBAIX Martin Ratio Rank: 77

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.

SAMIX vs. VBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) 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.

	SAMIX	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.45	-0.65
Sortino ratio: Return per unit of downside risk	1.21	2.07	-0.86
Omega ratio: Gain probability vs. loss probability	1.14	1.26	-0.12
Calmar ratio: Return relative to maximum drawdown	1.16	2.13	-0.97
Martin ratio: Return relative to average drawdown	4.54	9.09	-4.55

SAMIX vs. VBAIX - Sharpe Ratio Comparison

The current SAMIX Sharpe Ratio is 0.81, which is lower than the VBAIX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SAMIX 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

SAMIX vs. VBAIX - Drawdown Comparison

The maximum SAMIX drawdown since its inception was -26.06%, smaller than the maximum VBAIX drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for SAMIX and VBAIX.

Drawdown Indicators

	SAMIX	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-35.82%	+9.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-5.84%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.90%	-11.57%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-15.54%	-21.52%	+5.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-22.77%	—
Current Drawdown Current decline from peak	-3.63%	-1.46%	-2.17%
Average Drawdown Average peak-to-trough decline	-3.75%	-4.40%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.36%	+0.49%

Volatility

SAMIX vs. VBAIX - Volatility Comparison

Saratoga Moderately Aggressive Balanced Allocation Portfolio (SAMIX) has a higher volatility of 3.14% compared to Vanguard Balanced Index Fund Institutional Shares (VBAIX) at 2.31%. This indicates that SAMIX's price experiences larger fluctuations and is considered to be riskier than VBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAMIX	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	2.31%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	6.84%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	10.46%	8.56%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.24%	11.19%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.66%	11.25%	+1.41%

SAMIX vs. VBAIX - Expense Ratio Comparison

SAMIX has a 0.99% expense ratio, which is higher than VBAIX's 0.04% expense ratio.

Dividends

SAMIX vs. VBAIX - Dividend Comparison

SAMIX's dividend yield for the trailing twelve months is around 9.90%, more than VBAIX's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SAMIX Saratoga Moderately Aggressive Balanced Allocation Portfolio	9.90%	10.26%	3.60%	2.78%	5.82%	8.13%	1.66%	2.44%	3.03%	0.00%	0.00%	0.00%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.39%	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 SAMIX and VBAIX in my portfolio?

With a correlation of 0.94, SAMIX and VBAIX 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, SAMIX or VBAIX?

SAMIX has higher volatility (3.14%) compared to VBAIX (2.31%). In terms of maximum drawdown, SAMIX dropped -26.06% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

VBAIX currently has the higher Sharpe Ratio (1.45 vs 0.81), 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.