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VFIIX vs. VBIAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VFIIX vs. VBIAX

Last updated Jun 4, 2026

VFIIX (Vanguard GNMA Fund Investor Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VFIIX is a Total Bond Market fund managed by Vanguard, while VBIAX is a Diversified Portfolio fund tracking the 60% CRSP US Total Market Index / 40% Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VFIIX returned 1.31%/yr vs 9.83%/yr for VBIAX. At a 0.03 correlation, their price movements are largely independent. VFIIX charges 0.21%/yr vs 0.07%/yr for VBIAX.

Performance

VFIIX vs. VBIAX - Performance Comparison

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

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Returns By Period

In the year-to-date period, VFIIX achieves a 0.79% return, which is significantly lower than VBIAX's 7.35% return. Over the past 10 years, VFIIX has underperformed VBIAX with an annualized return of 1.31%, while VBIAX has yielded a comparatively higher 9.83% annualized return.

VFIIX

1D
0.00%
1M
0.31%
YTD
0.79%
6M
0.89%
1Y
6.35%
3Y*
4.25%
5Y*
0.47%
10Y*
1.31%

VBIAX

1D
0.15%
1M
3.71%
YTD
7.35%
6M
7.26%
1Y
19.35%
3Y*
15.04%
5Y*
8.01%
10Y*
9.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VFIIX vs. VBIAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VFIIX
Vanguard GNMA Fund Investor Shares		0.79%7.73%1.07%5.17%-10.81%-1.24%3.73%5.84%0.89%1.88%
VBIAX
Vanguard Balanced Index Fund Admiral Shares		7.35%13.61%14.58%17.54%-16.90%14.21%16.40%21.78%-2.86%13.89%

Correlation

The correlation between VFIIX and VBIAX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

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

0.41

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

0.36

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

0.20

Correlation (All Time)
Calculated using the full available price history since Nov 14, 2000

0.03

Over the past year, VFIIX and VBIAX have become more correlated (0.38) than their long-term average of 0.03, meaning their price movements have been converging.

VFIIX vs. VBIAX - Sectors Allocation Comparison

Sectors
VFIIX
VBIAX

Financial Services

0.1%
12.0%

Basic Materials

-

2.0%

Communication Services

-

10.3%

Consumer Cyclical

-

10.0%

Consumer Defensive

-

4.7%

Energy

-

3.7%

Healthcare

-

9.2%

Industrials

-

9.8%

Real Estate

-

2.4%

Technology

-

33.5%

Utilities

-

2.3%

Financial Services

VFIIX
0.1%
VBIAX
12.0%

Basic Materials

VFIIX

-

VBIAX
2.0%

Communication Services

VFIIX

-

VBIAX
10.3%

Consumer Cyclical

VFIIX

-

VBIAX
10.0%

Consumer Defensive

VFIIX

-

VBIAX
4.7%

Energy

VFIIX

-

VBIAX
3.7%

Healthcare

VFIIX

-

VBIAX
9.2%

Industrials

VFIIX

-

VBIAX
9.8%

Real Estate

VFIIX

-

VBIAX
2.4%

Technology

VFIIX

-

VBIAX
33.5%

Utilities

VFIIX

-

VBIAX
2.3%

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Vanguard GNMA Fund Investor Shares

Vanguard Balanced Index Fund Admiral Shares

Often compared with VFIIX:
VFIIX vs. VFIAXVFIIX vs. VFSTXVFIIX vs. VFITXVFIIX vs. BNDVFIIX vs. VOOVFIIX vs. VFISXVFIIX vs. BNDW
Often compared with VBIAX:
VBIAX vs. VWELXVBIAX vs. FBALXVBIAX vs. VFIAXVBIAX vs. VSMGXVBIAX vs. VWIAXVBIAX vs. VOOVBIAX vs. VBAIX

Return for Risk

VFIIX vs. VBIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VFIIX
VFIIX Risk / Return Rank: 3232
Overall Rank
VFIIX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
VFIIX Sortino Ratio Rank: 3232
Sortino Ratio Rank
VFIIX Omega Ratio Rank: 3030
Omega Ratio Rank
VFIIX Calmar Ratio Rank: 3636
Calmar Ratio Rank
VFIIX Martin Ratio Rank: 3333
Martin Ratio Rank
VBIAX
VBIAX Risk / Return Rank: 7676
Overall Rank
VBIAX Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
VBIAX Sortino Ratio Rank: 7474
Sortino Ratio Rank
VBIAX Omega Ratio Rank: 7070
Omega Ratio Rank
VBIAX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VBIAX 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.

VFIIX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard GNMA Fund Investor Shares (VFIIX) 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.

VFIIXVBIAXDifference
Sharpe ratioReturn per unit of total volatility
1.60
2.52

-0.93

Sortino ratioReturn per unit of downside risk
2.36
3.59

-1.23

Omega ratioGain probability vs. loss probability

1.29

1.47

-0.18

Calmar ratioReturn relative to maximum drawdown

2.25

3.42

-1.17

Martin ratioReturn relative to average drawdown

7.47

15.60

-8.14

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

VFIIX vs. VBIAX - Sharpe Ratio Comparison

The current VFIIX Sharpe Ratio is 1.60, which is lower than the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VFIIX 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.

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Sharpe Ratios by Period

VFIIXVBIAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.60

2.52

-0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.08

0.73

-0.65

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.88

-0.60

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.64

0.00

Drawdowns

VFIIX vs. VBIAX - Drawdown Comparison

The maximum VFIIX drawdown since its inception was -25.80%, smaller than the maximum VBIAX drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VFIIX and VBIAX.

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Drawdown Indicators

VFIIXVBIAXDifference

Max Drawdown

Largest peak-to-trough decline

-25.80%

-35.90%

+10.10%

Max Drawdown (1Y)

Largest decline over 1 year

-2.83%

-5.83%

+3.00%

Max Drawdown (3Y)

Largest decline over 3 years

-6.97%

-11.70%

+4.73%

Max Drawdown (5Y)

Largest decline over 5 years

-15.79%

-21.53%

+5.74%

Max Drawdown (10Y)

Largest decline over 10 years

-16.20%

-22.78%

+6.58%

Current Drawdown

Current decline from peak

-1.38%

0.00%

-1.38%

Average Drawdown

Average peak-to-trough decline

-2.98%

-4.44%

+1.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.85%

1.27%

-0.42%

Volatility

VFIIX vs. VBIAX - Volatility Comparison

The current volatility for Vanguard GNMA Fund Investor Shares (VFIIX) is 1.54%, while Vanguard Balanced Index Fund Admiral Shares (VBIAX) has a volatility of 2.26%. This indicates that VFIIX experiences smaller price fluctuations and is considered to be less risky than VBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VFIIXVBIAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.54%

2.26%

-0.72%

Volatility (6M)

Calculated over the trailing 6-month period

2.94%

6.11%

-3.17%

Volatility (1Y)

Calculated over the trailing 1-year period

4.01%

7.90%

-3.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.21%

11.05%

-4.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.70%

11.21%

-6.51%

VFIIX vs. VBIAX - Expense Ratio Comparison

VFIIX has a 0.21% 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

VFIIX vs. VBIAX - Dividend Comparison

VFIIX's dividend yield for the trailing twelve months is around 3.69%, less than VBIAX's 5.21% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VFIIX
Vanguard GNMA Fund Investor Shares		3.69%3.62%3.58%3.23%2.34%0.63%1.87%2.76%2.90%2.64%3.01%2.84%

Frequently Asked Questions

VFIIX and VBIAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VBIAX has higher volatility (2.26%) compared to VFIIX (1.54%). In terms of maximum drawdown, VFIIX dropped -25.80% vs VBIAX's -35.90%.

VBIAX currently has the higher Sharpe Ratio (2.52 vs 1.60), 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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