SBCPX vs. VTMFX

Last updated Jun 24, 2026

SBCPX (Franklin Multi-Asset Defensive Growth Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, SBCPX returned 5.27%/yr vs 8.70%/yr for VTMFX. Their correlation of 0.84 suggests significant overlap in exposure. SBCPX charges 0.52%/yr vs 0.05%/yr for VTMFX.

Performance

SBCPX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Multi-Asset Defensive Growth Fund (SBCPX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBCPX achieves a 4.68% return, which is significantly lower than VTMFX's 5.23% return. Over the past 10 years, SBCPX has underperformed VTMFX with an annualized return of 5.27%, while VTMFX has yielded a comparatively higher 8.70% annualized return.

SBCPX

• 1D: -0.21%
• 1M: 1.07%
• YTD: 4.68%
• 6M: 4.43%
• 1Y: 11.98%
• 3Y*: 9.41%
• 5Y*: 4.01%
• 10Y*: 5.27%

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)

SBCPX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBCPX Franklin Multi-Asset Defensive Growth Fund	4.68%	10.80%	7.76%	10.29%	-13.81%	5.87%	8.80%	13.64%	-3.87%	8.02%
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 SBCPX and VTMFX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.84

The correlation between SBCPX and VTMFX shifts across timeframes, from 0.84 (all time) to 0.95 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SBCPX vs. VTMFX — Risk / Return Rank

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

SBCPX

SBCPX Risk / Return Rank: 57
SBCPX Sharpe Ratio Rank: 56
SBCPX Sortino Ratio Rank: 57
SBCPX Omega Ratio Rank: 58
SBCPX Calmar Ratio Rank: 52
SBCPX Martin Ratio Rank: 63

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.

SBCPX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Multi-Asset Defensive Growth Fund (SBCPX) 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.

	SBCPX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.43	-0.40
Sortino ratio: Return per unit of downside risk	2.89	3.42	-0.53
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.08
Calmar ratio: Return relative to maximum drawdown	2.64	2.91	-0.27
Martin ratio: Return relative to average drawdown	11.60	13.60	-2.01

SBCPX vs. VTMFX - Sharpe Ratio Comparison

The current SBCPX Sharpe Ratio is 2.03, which is comparable to the VTMFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of SBCPX 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

SBCPX vs. VTMFX - Drawdown Comparison

The maximum SBCPX drawdown since its inception was -32.37%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for SBCPX and VTMFX.

Drawdown Indicators

	SBCPX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-32.37%	-28.49%	-3.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-5.38%	+0.63%
Max Drawdown (3Y) Largest decline over 3 years	-8.24%	-10.61%	+2.37%
Max Drawdown (5Y) Largest decline over 5 years	-20.66%	-17.40%	-3.26%
Max Drawdown (10Y) Largest decline over 10 years	-20.66%	-21.87%	+1.21%
Current Drawdown Current decline from peak	-0.42%	-0.75%	+0.33%
Average Drawdown Average peak-to-trough decline	-3.11%	-3.54%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.15%	-0.07%

Volatility

SBCPX vs. VTMFX - Volatility Comparison

Franklin Multi-Asset Defensive Growth Fund (SBCPX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 2.46% and 2.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBCPX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	2.45%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	5.17%	5.18%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	6.19%	6.46%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.73%	8.57%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.07%	9.15%	-2.08%

SBCPX vs. VTMFX - Expense Ratio Comparison

SBCPX has a 0.52% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

SBCPX vs. VTMFX - Dividend Comparison

SBCPX's dividend yield for the trailing twelve months is around 4.98%, more than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBCPX Franklin Multi-Asset Defensive Growth Fund	4.98%	5.17%	3.25%	2.36%	6.06%	5.14%	3.25%	4.08%	4.18%	7.15%	3.37%	2.28%
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 SBCPX and VTMFX in my portfolio?

With a correlation of 0.95, SBCPX 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, SBCPX or VTMFX?

SBCPX has higher volatility (2.46%) compared to VTMFX (2.45%). In terms of maximum drawdown, SBCPX dropped -32.37% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.43 vs 2.03), 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.