VASIX vs. VTIVX

Last updated Jun 24, 2026

VASIX (Vanguard LifeStrategy Income Fund) and VTIVX (Vanguard Target Retirement 2045 Fund) are both mutual funds - VASIX is a Diversified Portfolio fund managed by Vanguard, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, VASIX returned 4.09%/yr vs 11.66%/yr for VTIVX. A 0.72 correlation means they provide meaningful diversification when combined. VASIX charges 0.11%/yr vs 0.08%/yr for VTIVX.

Performance

VASIX vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard LifeStrategy Income Fund (VASIX) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VASIX achieves a 2.95% return, which is significantly lower than VTIVX's 10.42% return. Over the past 10 years, VASIX has underperformed VTIVX with an annualized return of 4.09%, while VTIVX has yielded a comparatively higher 11.66% annualized return.

VASIX

• 1D: -0.25%
• 1M: 0.81%
• YTD: 2.95%
• 6M: 2.95%
• 1Y: 8.55%
• 3Y*: 8.06%
• 5Y*: 2.80%
• 10Y*: 4.09%

VTIVX

• 1D: -0.16%
• 1M: 1.48%
• YTD: 10.42%
• 6M: 9.85%
• 1Y: 24.38%
• 3Y*: 17.98%
• 5Y*: 9.39%
• 10Y*: 11.66%

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

VASIX vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VASIX Vanguard LifeStrategy Income Fund	2.95%	9.42%	6.67%	9.63%	-13.94%	1.92%	9.13%	12.05%	-1.05%	6.05%
VTIVX Vanguard Target Retirement 2045 Fund	10.42%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between VASIX and VTIVX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 27, 2003	0.72

The correlation between VASIX and VTIVX shifts across timeframes, from 0.67 (10 years) to 0.83 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VASIX vs. VTIVX — Risk / Return Rank

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

VASIX

VASIX Risk / Return Rank: 49
VASIX Sharpe Ratio Rank: 50
VASIX Sortino Ratio Rank: 52
VASIX Omega Ratio Rank: 55
VASIX Calmar Ratio Rank: 39
VASIX Martin Ratio Rank: 48

VTIVX

VTIVX Risk / Return Rank: 71
VTIVX Sharpe Ratio Rank: 73
VTIVX Sortino Ratio Rank: 69
VTIVX Omega Ratio Rank: 69
VTIVX Calmar Ratio Rank: 70
VTIVX Martin Ratio Rank: 75

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.

VASIX vs. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard LifeStrategy Income Fund (VASIX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	VASIX	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.28	-0.36
Sortino ratio: Return per unit of downside risk	2.79	3.14	-0.35
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.27	3.06	-0.78
Martin ratio: Return relative to average drawdown	9.38	13.22	-3.84

VASIX vs. VTIVX - Sharpe Ratio Comparison

The current VASIX Sharpe Ratio is 1.92, which is comparable to the VTIVX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VASIX and VTIVX, 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

VASIX vs. VTIVX - Drawdown Comparison

The maximum VASIX drawdown since its inception was -18.17%, smaller than the maximum VTIVX drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for VASIX and VTIVX.

Drawdown Indicators

	VASIX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-51.69%	+33.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-8.30%	+4.40%
Max Drawdown (3Y) Largest decline over 3 years	-5.58%	-13.40%	+7.82%
Max Drawdown (5Y) Largest decline over 5 years	-18.17%	-25.10%	+6.93%
Max Drawdown (10Y) Largest decline over 10 years	-18.17%	-31.42%	+13.25%
Current Drawdown Current decline from peak	-0.25%	-0.60%	+0.35%
Average Drawdown Average peak-to-trough decline	-1.92%	-6.32%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.92%	-0.98%

Volatility

VASIX vs. VTIVX - Volatility Comparison

The current volatility for Vanguard LifeStrategy Income Fund (VASIX) is 1.76%, while Vanguard Target Retirement 2045 Fund (VTIVX) has a volatility of 4.42%. This indicates that VASIX experiences smaller price fluctuations and is considered to be less risky than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VASIX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	4.42%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	3.92%	9.21%	-5.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.63%	11.16%	-6.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	13.59%	-7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	14.83%	-9.88%

VASIX vs. VTIVX - Expense Ratio Comparison

VASIX has a 0.11% expense ratio, which is higher than VTIVX's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VASIX vs. VTIVX - Dividend Comparison

VASIX's dividend yield for the trailing twelve months is around 4.12%, more than VTIVX's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VASIX Vanguard LifeStrategy Income Fund	4.12%	4.18%	7.61%	3.17%	2.02%	3.95%	2.15%	2.73%	3.55%	1.52%	2.26%	2.57%
VTIVX Vanguard Target Retirement 2045 Fund	2.26%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both VASIX and VTIVX in my portfolio?

VASIX and VTIVX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VASIX or VTIVX?

VTIVX has higher volatility (4.42%) compared to VASIX (1.76%). In terms of maximum drawdown, VASIX dropped -18.17% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.28 vs 1.92), 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.