VBAIX vs. OAKBX

Last updated Jun 23, 2026

VBAIX (Vanguard Balanced Index Fund Institutional Shares) and OAKBX (Oakmark Equity and Income Fund) are both Diversified Portfolio funds. Over the past 10 years, VBAIX returned 10.11%/yr vs 9.00%/yr for OAKBX. Their correlation of 0.86 suggests significant overlap in exposure. VBAIX charges 0.06%/yr vs 0.83%/yr for OAKBX.

Performance

VBAIX vs. OAKBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Balanced Index Fund Institutional Shares (VBAIX) and Oakmark Equity and Income Fund (OAKBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBAIX achieves a 6.72% return, which is significantly higher than OAKBX's -0.25% return. Over the past 10 years, VBAIX has outperformed OAKBX with an annualized return of 10.11%, while OAKBX has yielded a comparatively lower 9.00% annualized return.

VBAIX

• 1D: 0.79%
• 1M: 0.89%
• YTD: 6.72%
• 6M: 6.30%
• 1Y: 18.23%
• 3Y*: 15.17%
• 5Y*: 8.45%
• 10Y*: 10.11%

OAKBX

• 1D: -0.15%
• 1M: -0.39%
• YTD: -0.25%
• 6M: -0.46%
• 1Y: 8.21%
• 3Y*: 9.39%
• 5Y*: 6.73%
• 10Y*: 9.00%

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

VBAIX vs. OAKBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBAIX Vanguard Balanced Index Fund Institutional Shares	6.72%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%
OAKBX Oakmark Equity and Income Fund	-0.25%	11.05%	8.73%	17.39%	-12.94%	29.12%	8.68%	19.39%	-8.38%	14.43%

Correlation

The correlation between VBAIX and OAKBX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 30, 2000	0.86

The correlation between VBAIX and OAKBX shifts across timeframes, from 0.71 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VBAIX vs. OAKBX — Risk / Return Rank

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

VBAIX

VBAIX Risk / Return Rank: 69
VBAIX Sharpe Ratio Rank: 65
VBAIX Sortino Ratio Rank: 65
VBAIX Omega Ratio Rank: 63
VBAIX Calmar Ratio Rank: 71
VBAIX Martin Ratio Rank: 79

OAKBX

OAKBX Risk / Return Rank: 14
OAKBX Sharpe Ratio Rank: 13
OAKBX Sortino Ratio Rank: 14
OAKBX Omega Ratio Rank: 13
OAKBX Calmar Ratio Rank: 14
OAKBX Martin Ratio Rank: 15

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.

VBAIX vs. OAKBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced Index Fund Institutional Shares (VBAIX) and Oakmark Equity and Income Fund (OAKBX). 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	OAKBX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	0.95	+1.22
Sortino ratio: Return per unit of downside risk	3.07	1.44	+1.63
Omega ratio: Gain probability vs. loss probability	1.40	1.17	+0.23
Calmar ratio: Return relative to maximum drawdown	3.11	1.20	+1.91
Martin ratio: Return relative to average drawdown	13.85	3.90	+9.95

VBAIX vs. OAKBX - Sharpe Ratio Comparison

The current VBAIX Sharpe Ratio is 2.18, which is higher than the OAKBX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of VBAIX and OAKBX, 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

VBAIX vs. OAKBX - Drawdown Comparison

The maximum VBAIX drawdown since its inception was -35.82%, which is greater than OAKBX's maximum drawdown of -31.31%. Use the drawdown chart below to compare losses from any high point for VBAIX and OAKBX.

Drawdown Indicators

	VBAIX	OAKBX	Difference
Max Drawdown Largest peak-to-trough decline	-35.82%	-31.31%	-4.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-6.90%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.57%	-10.91%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-20.41%	-1.11%
Max Drawdown (10Y) Largest decline over 10 years	-22.77%	-30.19%	+7.42%
Current Drawdown Current decline from peak	-0.64%	-2.23%	+1.59%
Average Drawdown Average peak-to-trough decline	-4.41%	-3.77%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	2.13%	-0.82%

Volatility

VBAIX vs. OAKBX - Volatility Comparison

Vanguard Balanced Index Fund Institutional Shares (VBAIX) has a higher volatility of 3.35% compared to Oakmark Equity and Income Fund (OAKBX) at 2.72%. This indicates that VBAIX's price experiences larger fluctuations and is considered to be riskier than OAKBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBAIX	OAKBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	2.72%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	6.31%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	8.36%	8.73%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.17%	12.13%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	13.05%	-1.78%

VBAIX vs. OAKBX - Expense Ratio Comparison

VBAIX has a 0.06% expense ratio, which is lower than OAKBX's 0.83% expense ratio.

Dividends

VBAIX vs. OAKBX - Dividend Comparison

VBAIX's dividend yield for the trailing twelve months is around 5.26%, more than OAKBX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OAKBX Oakmark Equity and Income Fund	2.21%	2.16%	2.05%	2.28%	1.44%	14.26%	4.17%	9.07%	10.05%	8.09%	4.13%	6.53%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.26%	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 VBAIX and OAKBX in my portfolio?

VBAIX and OAKBX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBAIX or OAKBX?

VBAIX has higher volatility (3.35%) compared to OAKBX (2.72%). In terms of maximum drawdown, VBAIX dropped -35.82% vs OAKBX's -31.31%.

Which has better risk-adjusted returns?

VBAIX currently has the higher Sharpe Ratio (2.18 vs 0.95), 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.