VBAL.TO vs. VBIAX

Last updated Jun 4, 2026

VBAL.TO (Vanguard Balanced ETF Portfolio) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both Diversified Portfolio funds from Vanguard. VBAL.TO is actively managed, while VBIAX is passively managed. Over the past 5 years, VBAL.TO returned 7.87%/yr vs 10.94%/yr for VBIAX. A 0.79 correlation means they provide meaningful diversification when combined. VBAL.TO charges 0.24%/yr vs 0.07%/yr for VBIAX.

Performance

VBAL.TO vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard Balanced ETF Portfolio (VBAL.TO) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VBAL.TO is traded in CAD, while VBIAX is traded in USD. To make them comparable, the VBIAX values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with VBAL.TO having a 8.13% return and VBIAX slightly higher at 8.28%.

VBAL.TO

• 1D: -0.30%
• 1M: 4.26%
• YTD: 8.13%
• 6M: 6.49%
• 1Y: 18.31%
• 3Y*: 13.79%
• 5Y*: 7.87%
• 10Y*: —

VBIAX

• 1D: 0.46%
• 1M: 5.34%
• YTD: 8.28%
• 6M: 6.41%
• 1Y: 20.39%
• 3Y*: 16.22%
• 5Y*: 10.94%
• 10Y*: 10.58%

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

VBAL.TO vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VBAL.TO Vanguard Balanced ETF Portfolio	8.13%	11.88%	14.56%	12.43%	-11.44%	10.16%	10.23%	14.85%	-2.87%
VBIAX Vanguard Balanced Index Fund Admiral Shares	8.28%	8.40%	24.42%	14.95%	-10.98%	13.18%	14.43%	15.80%	5.34%

Correlation

The correlation between VBAL.TO and VBIAX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 2, 2018	0.79

The correlation between VBAL.TO and VBIAX has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

VBAL.TO vs. VBIAX - Sectors Allocation Comparison

Sectors	VBAL.TO	VBIAX
Financial Services	20.6%	12.0%
Technology	20.4%	33.5%
Industrials	11.6%	9.8%
Energy	8.6%	3.7%
Basic Materials	8.5%	2.0%
Consumer Cyclical	7.9%	10.0%
Healthcare	6.7%	9.2%
Communication Services	6.1%	10.3%
Consumer Defensive	4.6%	4.7%
Utilities	2.8%	2.3%
Real Estate	2.3%	2.4%

Return for Risk

VBAL.TO vs. VBIAX — Risk / Return Rank

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

VBAL.TO

VBAL.TO Risk / Return Rank: 68
VBAL.TO Sharpe Ratio Rank: 68
VBAL.TO Sortino Ratio Rank: 71
VBAL.TO Omega Ratio Rank: 71
VBAL.TO Calmar Ratio Rank: 61
VBAL.TO Martin Ratio Rank: 69

VBIAX

VBIAX Risk / Return Rank: 76
VBIAX Sharpe Ratio Rank: 76
VBIAX Sortino Ratio Rank: 74
VBIAX Omega Ratio Rank: 70
VBIAX Calmar Ratio Rank: 75
VBIAX 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.

VBAL.TO vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Balanced ETF Portfolio (VBAL.TO) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). 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.

	VBAL.TO	VBIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.60	-0.29
Sortino ratio: Return per unit of downside risk	3.30	3.62	-0.33
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	3.10	3.76	-0.66
Martin ratio: Return relative to average drawdown	13.17	12.77	+0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBAL.TO vs. VBIAX - Sharpe Ratio Comparison

The current VBAL.TO Sharpe Ratio is 2.30, which is comparable to the VBIAX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of VBAL.TO and VBIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBAL.TO	VBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.60	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	1.14	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.25	-0.48

Drawdowns

VBAL.TO vs. VBIAX - Drawdown Comparison

The maximum VBAL.TO drawdown since its inception was -21.19%, which is greater than VBIAX's maximum drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for VBAL.TO and VBIAX.

Drawdown Indicators

	VBAL.TO	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.19%	-18.40%	-2.79%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-5.60%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-9.68%	-13.23%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-16.45%	-18.40%	+1.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.40%	—
Current Drawdown Current decline from peak	-0.30%	0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.44%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.64%	-0.25%

Volatility

VBAL.TO vs. VBIAX - Volatility Comparison

Vanguard Balanced ETF Portfolio (VBAL.TO) has a higher volatility of 2.73% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.24%. This indicates that VBAL.TO's price experiences larger fluctuations and is considered to be riskier than VBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBAL.TO	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	2.24%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	6.59%	6.35%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	7.99%	8.10%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	9.66%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	10.10%	-0.01%

VBAL.TO vs. VBIAX - Expense Ratio Comparison

VBAL.TO has a 0.24% expense ratio, which is higher than VBIAX's 0.07% 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

VBAL.TO vs. VBIAX - Dividend Comparison

VBAL.TO's dividend yield for the trailing twelve months is around 2.05%, less than VBIAX's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBAL.TO Vanguard Balanced ETF Portfolio	2.05%	2.21%	2.26%	2.32%	2.16%	1.91%	1.79%	2.20%	1.99%	0.00%	0.00%	0.00%
VBIAX Vanguard Balanced Index Fund Admiral Shares	5.21%	6.00%	5.27%	4.35%	2.83%	3.19%	2.65%	2.28%	2.32%	1.95%	2.09%	2.09%

Frequently Asked Questions

Can I hold both VBAL.TO and VBIAX in my portfolio?

VBAL.TO and VBIAX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.