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VGHAX vs. VBIAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGHAX vs. VBIAX

Last updated Jun 4, 2026

VGHAX (Vanguard Health Care Fund Admiral Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VGHAX is a Health & Biotech Equities 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, VGHAX returned 8.70%/yr vs 9.83%/yr for VBIAX. A 0.76 correlation means they provide meaningful diversification when combined. VGHAX charges 0.25%/yr vs 0.07%/yr for VBIAX.

Performance

VGHAX vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Health Care Fund Admiral Shares (VGHAX) 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, VGHAX achieves a -4.65% return, which is significantly lower than VBIAX's 7.35% return. Over the past 10 years, VGHAX has underperformed VBIAX with an annualized return of 8.70%, while VBIAX has yielded a comparatively higher 9.83% annualized return.

VGHAX

1D
-1.55%
1M
-1.39%
YTD
-4.65%
6M
-4.26%
1Y
16.26%
3Y*
8.39%
5Y*
7.23%
10Y*
8.70%

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)

VGHAX vs. VBIAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGHAX
Vanguard Health Care Fund Admiral Shares		-4.65%19.72%9.10%5.51%-1.00%12.82%12.62%22.99%1.07%19.64%
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 VGHAX and VBIAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

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

0.57

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

0.65

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

0.69

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2001

0.76

Over the past year, the correlation between VGHAX and VBIAX has dropped to 0.48 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

VGHAX vs. VBIAX - Sectors Allocation Comparison

Sectors
VGHAX
VBIAX

Healthcare

97.8%
9.2%

Consumer Defensive

1.2%
4.7%

Financial Services

0.0%
12.0%

Basic Materials

0.0%
2.0%

Communication Services

-

10.3%

Consumer Cyclical

-

10.0%

Energy

-

3.7%

Industrials

-

9.8%

Real Estate

-

2.4%

Technology

-

33.5%

Utilities

-

2.3%

Healthcare

VGHAX
97.8%
VBIAX
9.2%

Consumer Defensive

VGHAX
1.2%
VBIAX
4.7%

Financial Services

VGHAX
0.0%
VBIAX
12.0%

Basic Materials

VGHAX
0.0%
VBIAX
2.0%

Communication Services

VGHAX

-

VBIAX
10.3%

Consumer Cyclical

VGHAX

-

VBIAX
10.0%

Energy

VGHAX

-

VBIAX
3.7%

Industrials

VGHAX

-

VBIAX
9.8%

Real Estate

VGHAX

-

VBIAX
2.4%

Technology

VGHAX

-

VBIAX
33.5%

Utilities

VGHAX

-

VBIAX
2.3%

Compare stocks, funds, or ETFs

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Vanguard Health Care Fund Admiral Shares

Vanguard Balanced Index Fund Admiral Shares

Often compared with VGHAX:
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Often compared with VBIAX:
VBIAX vs. VWELXVBIAX vs. FBALXVBIAX vs. VFIAXVBIAX vs. VSMGXVBIAX vs. VWIAXVBIAX vs. VOOVBIAX vs. VBAIX

Return for Risk

VGHAX vs. VBIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGHAX
VGHAX Risk / Return Rank: 1717
Overall Rank
VGHAX Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
VGHAX Sortino Ratio Rank: 1616
Sortino Ratio Rank
VGHAX Omega Ratio Rank: 1414
Omega Ratio Rank
VGHAX Calmar Ratio Rank: 2222
Calmar Ratio Rank
VGHAX Martin Ratio Rank: 1616
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.

VGHAX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care Fund Admiral Shares (VGHAX) 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.

VGHAXVBIAXDifference
Sharpe ratioReturn per unit of total volatility
1.08
2.52

-1.44

Sortino ratioReturn per unit of downside risk
1.68
3.59

-1.91

Omega ratioGain probability vs. loss probability

1.19

1.47

-0.28

Calmar ratioReturn relative to maximum drawdown

1.74

3.42

-1.68

Martin ratioReturn relative to average drawdown

4.63

15.60

-10.98

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

VGHAX vs. VBIAX - Sharpe Ratio Comparison

The current VGHAX Sharpe Ratio is 1.08, which is lower than the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VGHAX 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

VGHAXVBIAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

2.52

-1.44

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.73

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.88

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.64

-0.04

Drawdowns

VGHAX vs. VBIAX - Drawdown Comparison

The maximum VGHAX drawdown since its inception was -36.85%, roughly equal to the maximum VBIAX drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VGHAX and VBIAX.

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Drawdown Indicators

VGHAXVBIAXDifference

Max Drawdown

Largest peak-to-trough decline

-36.85%

-35.90%

-0.95%

Max Drawdown (1Y)

Largest decline over 1 year

-9.19%

-5.83%

-3.36%

Max Drawdown (3Y)

Largest decline over 3 years

-16.05%

-11.70%

-4.35%

Max Drawdown (5Y)

Largest decline over 5 years

-16.92%

-21.53%

+4.61%

Max Drawdown (10Y)

Largest decline over 10 years

-27.17%

-22.78%

-4.39%

Current Drawdown

Current decline from peak

-7.60%

0.00%

-7.60%

Average Drawdown

Average peak-to-trough decline

-5.61%

-4.44%

-1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

1.27%

+2.17%

Volatility

VGHAX vs. VBIAX - Volatility Comparison

Vanguard Health Care Fund Admiral Shares (VGHAX) has a higher volatility of 3.78% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that VGHAX'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.

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Volatility by Period

VGHAXVBIAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

2.26%

+1.52%

Volatility (6M)

Calculated over the trailing 6-month period

10.35%

6.11%

+4.24%

Volatility (1Y)

Calculated over the trailing 1-year period

14.74%

7.90%

+6.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.12%

11.05%

+7.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.58%

11.21%

+6.37%

VGHAX vs. VBIAX - Expense Ratio Comparison

VGHAX has a 0.25% 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

VGHAX vs. VBIAX - Dividend Comparison

VGHAX's dividend yield for the trailing twelve months is around 7.00%, more 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%
VGHAX
Vanguard Health Care Fund Admiral Shares		7.00%6.07%22.84%7.22%5.49%7.05%8.02%11.87%9.15%7.36%8.60%8.21%

Frequently Asked Questions

VGHAX and VBIAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VGHAX has higher volatility (3.78%) compared to VBIAX (2.26%). In terms of maximum drawdown, VGHAX dropped -36.85% vs VBIAX's -35.90%.

VBIAX currently has the higher Sharpe Ratio (2.52 vs 1.08), 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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