TORIX vs. VBAIX

Last updated Jul 17, 2026

TORIX (Tortoise MLP & Pipeline Fund) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both mutual funds - TORIX is a Energy Equities fund managed by Tortoise, while VBAIX is a Diversified Portfolio fund tracking the Balanced Composite Index. Over the past 10 years, TORIX returned 10.96%/yr vs 9.86%/yr for VBAIX. A 0.54 correlation means they provide meaningful diversification when combined. TORIX charges 0.93%/yr vs 0.04%/yr for VBAIX.

Performance

TORIX vs. VBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tortoise MLP & Pipeline Fund (TORIX) 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, TORIX achieves a 25.95% return, which is significantly higher than VBAIX's 7.17% return. Over the past 10 years, TORIX has outperformed VBAIX with an annualized return of 10.96%, while VBAIX has yielded a comparatively lower 9.86% annualized return.

TORIX

• 1D: -1.08%
• 1M: 4.90%
• 6M: 24.27%
• YTD: 25.95%
• 1Y: 29.81%
• 3Y*: 26.96%
• 5Y*: 22.86%
• 10Y*: 10.96%

VBAIX

• 1D: 0.29%
• 1M: 0.36%
• 6M: 5.75%
• YTD: 7.17%
• 1Y: 15.17%
• 3Y*: 14.74%
• 5Y*: 8.09%
• 10Y*: 9.86%

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

TORIX vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TORIX Tortoise MLP & Pipeline Fund	25.95%	4.94%	42.91%	14.18%	22.20%	40.84%	-29.47%	18.33%	-15.14%	-1.04%
VBAIX Vanguard Balanced Index Fund Institutional Shares	7.17%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%

Correlation

The correlation between TORIX and VBAIX is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 31, 2011	0.54

The correlation between TORIX and VBAIX shifts across timeframes, from -0.13 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TORIX vs. VBAIX — Risk / Return Rank

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

TORIX

TORIX Risk / Return Rank: 74
TORIX Sharpe Ratio Rank: 75
TORIX Sortino Ratio Rank: 74
TORIX Omega Ratio Rank: 65
TORIX Calmar Ratio Rank: 93
TORIX Martin Ratio Rank: 63

VBAIX

VBAIX Risk / Return Rank: 73
VBAIX Sharpe Ratio Rank: 71
VBAIX Sortino Ratio Rank: 70
VBAIX Omega Ratio Rank: 69
VBAIX Calmar Ratio Rank: 73
VBAIX 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.

TORIX vs. VBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tortoise MLP & Pipeline Fund (TORIX) 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.

	TORIX	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.86	+0.10
Sortino ratio: Return per unit of downside risk	2.75	2.64	+0.12
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	4.13	2.67	+1.46
Martin ratio: Return relative to average drawdown	9.64	11.69	-2.05

TORIX vs. VBAIX - Sharpe Ratio Comparison

The current TORIX Sharpe Ratio is 1.97, which is comparable to the VBAIX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of TORIX 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

TORIX vs. VBAIX - Drawdown Comparison

The maximum TORIX drawdown since its inception was -68.58%, which is greater than VBAIX's maximum drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for TORIX and VBAIX.

Drawdown Indicators

	TORIX	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-68.58%	-35.82%	-32.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-5.84%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.52%	-11.57%	-4.95%
Max Drawdown (5Y) Largest decline over 5 years	-19.75%	-21.52%	+1.77%
Max Drawdown (10Y) Largest decline over 10 years	-63.04%	-22.77%	-40.27%
Current Drawdown Current decline from peak	-1.73%	-0.21%	-1.52%
Average Drawdown Average peak-to-trough decline	-14.73%	-4.40%	-10.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	1.33%	+1.71%

Volatility

TORIX vs. VBAIX - Volatility Comparison

Tortoise MLP & Pipeline Fund (TORIX) has a higher volatility of 5.52% compared to Vanguard Balanced Index Fund Institutional Shares (VBAIX) at 2.38%. This indicates that TORIX'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

	TORIX	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	2.38%	+3.14%
Volatility (6M) Calculated over the trailing 6-month period	11.88%	6.77%	+5.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	8.38%	+6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.60%	11.18%	+8.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	11.24%	+13.63%

TORIX vs. VBAIX - Expense Ratio Comparison

TORIX has a 0.93% expense ratio, which is higher than VBAIX's 0.04% expense ratio.

Dividends

TORIX vs. VBAIX - Dividend Comparison

TORIX's dividend yield for the trailing twelve months is around 4.07%, less than VBAIX's 5.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TORIX Tortoise MLP & Pipeline Fund	4.07%	5.03%	4.92%	4.36%	5.28%	4.29%	5.63%	4.39%	4.22%	2.92%	1.87%	5.96%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.32%	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 TORIX and VBAIX in my portfolio?

TORIX and VBAIX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TORIX or VBAIX?

TORIX has higher volatility (5.52%) compared to VBAIX (2.38%). In terms of maximum drawdown, TORIX dropped -68.58% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

TORIX currently has the higher Sharpe Ratio (1.97 vs 1.86), 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.