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VBIAX vs. VBAIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBIAX vs. VBAIX

Last updated Jun 7, 2026

VBIAX (Vanguard Balanced Index Fund Admiral Shares) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both Diversified Portfolio funds from Vanguard. Over the past 10 years, VBIAX returned 9.78%/yr vs 10.10%/yr for VBAIX. With a 1.00 correlation, they move nearly in lockstep. VBIAX charges 0.07%/yr vs 0.06%/yr for VBAIX.

Performance

VBIAX vs. VBAIX - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with VBIAX having a 7.16% return and VBAIX slightly higher at 7.20%. Both investments have delivered pretty close results over the past 10 years, with VBIAX having a 9.78% annualized return and VBAIX not far ahead at 10.10%.

VBIAX

1D
0.35%
1M
1.67%
YTD
7.16%
6M
7.00%
1Y
18.76%
3Y*
15.03%
5Y*
7.82%
10Y*
9.78%

VBAIX

1D
0.37%
1M
1.69%
YTD
7.20%
6M
7.03%
1Y
18.80%
3Y*
16.11%
5Y*
8.43%
10Y*
10.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBIAX vs. VBAIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBIAX
Vanguard Balanced Index Fund Admiral Shares		7.16%13.61%14.58%17.54%-16.90%14.21%16.40%21.78%-2.86%13.89%
VBAIX
Vanguard Balanced Index Fund Institutional Shares		7.20%13.60%17.78%17.55%-16.87%14.20%16.40%21.79%-2.83%13.86%

Correlation

The correlation between VBIAX and VBAIX is 1.00 - 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

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Dec 1, 2000

1.00

The correlation between VBIAX and VBAIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

VBIAX vs. VBAIX - Sectors Allocation Comparison

Sectors
VBIAX
VBAIX

Technology

33.5%
33.5%

Financial Services

12.0%
12.0%

Communication Services

10.3%
10.3%

Consumer Cyclical

10.0%
10.0%

Industrials

9.8%
9.8%

Healthcare

9.2%
9.2%

Consumer Defensive

4.7%
4.7%

Energy

3.7%
3.7%

Real Estate

2.4%
2.4%

Utilities

2.3%
2.3%

Basic Materials

2.0%
2.0%

Technology

VBIAX
33.5%
VBAIX
33.5%

Financial Services

VBIAX
12.0%
VBAIX
12.0%

Communication Services

VBIAX
10.3%
VBAIX
10.3%

Consumer Cyclical

VBIAX
10.0%
VBAIX
10.0%

Industrials

VBIAX
9.8%
VBAIX
9.8%

Healthcare

VBIAX
9.2%
VBAIX
9.2%

Consumer Defensive

VBIAX
4.7%
VBAIX
4.7%

Energy

VBIAX
3.7%
VBAIX
3.7%

Real Estate

VBIAX
2.4%
VBAIX
2.4%

Utilities

VBIAX
2.3%
VBAIX
2.3%

Basic Materials

VBIAX
2.0%
VBAIX
2.0%

Compare stocks, funds, or ETFs

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Vanguard Balanced Index Fund Admiral Shares

Vanguard Balanced Index Fund Institutional Shares

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Often compared with VBAIX:
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Return for Risk

VBIAX vs. VBAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBIAX
VBIAX Risk / Return Rank: 7474
Overall Rank
VBIAX Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VBIAX Sortino Ratio Rank: 7171
Sortino Ratio Rank
VBIAX Omega Ratio Rank: 6868
Omega Ratio Rank
VBIAX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VBIAX Martin Ratio Rank: 8383
Martin Ratio Rank
VBAIX
VBAIX Risk / Return Rank: 7474
Overall Rank
VBAIX Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VBAIX Sortino Ratio Rank: 7171
Sortino Ratio Rank
VBAIX Omega Ratio Rank: 6868
Omega Ratio Rank
VBAIX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VBAIX Martin Ratio Rank: 8383
Martin Ratio Rank
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.

VBIAX vs. VBAIX - Risk-Adjusted Trends Comparison

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

VBIAXVBAIXDifference
Sharpe ratioReturn per unit of total volatility
2.39
2.40

0.00

Sortino ratioReturn per unit of downside risk
3.41
3.42

-0.01

Omega ratioGain probability vs. loss probability

1.44

1.44

0.00

Calmar ratioReturn relative to maximum drawdown

3.25

3.25

0.00

Martin ratioReturn relative to average drawdown

14.83

14.86

-0.03

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBIAX vs. VBAIX - Sharpe Ratio Comparison

The current VBIAX Sharpe Ratio is 2.39, which is comparable to the VBAIX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of VBIAX 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.

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Sharpe Ratios by Period

VBIAXVBAIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.39

2.40

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.76

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.88

0.90

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.66

-0.02

Drawdowns

VBIAX vs. VBAIX - Drawdown Comparison

The maximum VBIAX drawdown since its inception was -35.90%, roughly equal to the maximum VBAIX drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for VBIAX and VBAIX.

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Drawdown Indicators

VBIAXVBAIXDifference

Max Drawdown

Largest peak-to-trough decline

-35.90%

-35.82%

-0.08%

Max Drawdown (1Y)

Largest decline over 1 year

-5.83%

-5.84%

+0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-11.70%

-11.57%

-0.13%

Max Drawdown (5Y)

Largest decline over 5 years

-21.53%

-21.52%

-0.01%

Max Drawdown (10Y)

Largest decline over 10 years

-22.78%

-22.77%

-0.01%

Current Drawdown

Current decline from peak

-0.18%

-0.18%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.44%

-4.42%

-0.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.28%

1.27%

+0.01%

Volatility

VBIAX vs. VBAIX - Volatility Comparison

Vanguard Balanced Index Fund Admiral Shares (VBIAX) and Vanguard Balanced Index Fund Institutional Shares (VBAIX) have volatilities of 2.27% and 2.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VBIAXVBAIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.27%

2.27%

0.00%

Volatility (6M)

Calculated over the trailing 6-month period

6.12%

6.12%

0.00%

Volatility (1Y)

Calculated over the trailing 1-year period

7.92%

7.92%

0.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.05%

11.10%

-0.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.21%

11.23%

-0.02%

VBIAX vs. VBAIX - Expense Ratio Comparison

VBIAX has a 0.07% expense ratio, which is higher than VBAIX's 0.06% 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

VBIAX vs. VBAIX - Dividend Comparison

VBIAX's dividend yield for the trailing twelve months is around 5.22%, which matches VBAIX's 5.23% yield.

PositionTTM20252024202320222021202020192018201720162015
VBAIX
Vanguard Balanced Index Fund Institutional Shares		5.23%6.01%8.01%4.36%2.84%3.20%2.65%2.29%2.33%1.96%2.10%2.10%
VBIAX
Vanguard Balanced Index Fund Admiral Shares		5.22%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

With a correlation of 1.00, VBIAX and VBAIX 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.

VBAIX has higher volatility (2.27%) compared to VBIAX (2.27%). In terms of maximum drawdown, VBIAX dropped -35.90% vs VBAIX's -35.82%.

VBAIX currently has the higher Sharpe Ratio (2.40 vs 2.39), 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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