VBAIX vs. IVV
VBAIX (Vanguard Balanced Index Fund Institutional Shares) and IVV (iShares Core S&P 500 ETF) are both funds - VBAIX is a Diversified Portfolio fund managed by Vanguard, while IVV is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, VBAIX returned 10.02%/yr vs 15.47%/yr for IVV. With a 0.97 correlation, they move nearly in lockstep. VBAIX charges 0.06%/yr vs 0.03%/yr for IVV.
Performance
VBAIX vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, VBAIX achieves a 5.76% return, which is significantly lower than IVV's 9.08% return. Over the past 10 years, VBAIX has underperformed IVV with an annualized return of 10.02%, while IVV has yielded a comparatively higher 15.47% annualized return.
VBAIX
- 1D
- 1.35%
- 1M
- -0.24%
- YTD
- 5.76%
- 6M
- 5.96%
- 1Y
- 17.26%
- 3Y*
- 15.19%
- 5Y*
- 8.00%
- 10Y*
- 10.02%
IVV
- 1D
- 0.55%
- 1M
- -0.85%
- YTD
- 9.08%
- 6M
- 9.43%
- 1Y
- 25.77%
- 3Y*
- 20.95%
- 5Y*
- 13.42%
- 10Y*
- 15.47%
VBAIX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBAIX Vanguard Balanced Index Fund Institutional Shares | 5.76% | 13.60% | 17.78% | 17.55% | -16.87% | 14.20% | 16.40% | 21.79% | -2.83% | 13.86% |
IVV iShares Core S&P 500 ETF | 9.08% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between VBAIX and IVV is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2000 | 0.97 |
The correlation between VBAIX and IVV has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VBAIX vs. IVV — Risk / Return Rank
VBAIX
IVV
VBAIX vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced Index Fund Institutional Shares (VBAIX) and iShares Core S&P 500 ETF (IVV). 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.
| VBAIX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 2.76 | +0.11 |
| Martin ratioReturn relative to average drawdown | 12.76 | 12.43 | +0.32 |
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Drawdowns
VBAIX vs. IVV - Drawdown Comparison
The maximum VBAIX drawdown since its inception was -35.82%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for VBAIX and IVV.
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Drawdown Indicators
| VBAIX | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.82% | -55.25% | +19.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -8.89% | +3.05% |
Max Drawdown (3Y)Largest decline over 3 years | -11.57% | -18.75% | +7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -21.52% | -24.53% | +3.01% |
Max Drawdown (10Y)Largest decline over 10 years | -22.77% | -33.90% | +11.13% |
Current DrawdownCurrent decline from peak | -1.53% | -2.35% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -10.77% | +6.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.97% | -0.66% |
Volatility
VBAIX vs. IVV - Volatility Comparison
The current volatility for Vanguard Balanced Index Fund Institutional Shares (VBAIX) is 3.23%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.37%. This indicates that VBAIX experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBAIX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 4.37% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.61% | 9.59% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.29% | 12.28% | -3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.15% | 16.95% | -5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 18.08% | -6.82% |
VBAIX vs. IVV - Expense Ratio Comparison
VBAIX has a 0.06% expense ratio, which is higher than IVV's 0.03% 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
VBAIX vs. IVV - Dividend Comparison
VBAIX's dividend yield for the trailing twelve months is around 5.31%, more than IVV's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.08% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
VBAIX Vanguard Balanced Index Fund Institutional Shares | 5.31% | 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
With a correlation of 0.98, VBAIX and IVV 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.
IVV has higher volatility (4.37%) compared to VBAIX (3.23%). In terms of maximum drawdown, VBAIX dropped -35.82% vs IVV's -55.25%.
VBAIX currently has the higher Sharpe Ratio (2.02 vs 2.00), 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.
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