VHGEX vs. VBAIX

Last updated Jun 4, 2026

VHGEX (Vanguard Global Equity Fund) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both mutual funds - VHGEX is a Global Equities fund managed by Vanguard, while VBAIX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VHGEX returned 11.86%/yr vs 10.15%/yr for VBAIX. Their correlation of 0.89 suggests significant overlap in exposure. VHGEX charges 0.45%/yr vs 0.06%/yr for VBAIX.

Performance

VHGEX vs. VBAIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with VHGEX having a 7.78% return and VBAIX slightly lower at 7.40%. Over the past 10 years, VHGEX has outperformed VBAIX with an annualized return of 11.86%, while VBAIX has yielded a comparatively lower 10.15% annualized return.

VHGEX

• 1D: -0.02%
• 1M: 4.24%
• YTD: 7.78%
• 6M: 8.97%
• 1Y: 23.42%
• 3Y*: 17.37%
• 5Y*: 7.61%
• 10Y*: 11.86%

VBAIX

• 1D: 0.16%
• 1M: 3.72%
• YTD: 7.40%
• 6M: 7.29%
• 1Y: 19.41%
• 3Y*: 16.11%
• 5Y*: 8.62%
• 10Y*: 10.15%

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

VHGEX vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHGEX Vanguard Global Equity Fund	7.78%	21.22%	13.41%	23.52%	-22.72%	13.06%	22.38%	28.73%	-9.15%	27.80%
VBAIX Vanguard Balanced Index Fund Institutional Shares	7.40%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%

Correlation

The correlation between VHGEX and VBAIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 1, 2000	0.89

The correlation between VHGEX and VBAIX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

VHGEX vs. VBAIX - Sectors Allocation Comparison

Sectors	VHGEX	VBAIX
Technology	30.0%	33.5%
Consumer Cyclical	14.0%	10.0%
Financial Services	13.4%	12.0%
Healthcare	11.6%	9.2%
Communication Services	8.3%	10.3%
Industrials	8.0%	9.8%
Basic Materials	4.6%	2.0%
Consumer Defensive	4.5%	4.7%
Energy	3.2%	3.7%
Real Estate	1.9%	2.4%
Utilities	0.5%	2.3%

Return for Risk

VHGEX vs. VBAIX — Risk / Return Rank

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

VHGEX

VHGEX Risk / Return Rank: 32
VHGEX Sharpe Ratio Rank: 34
VHGEX Sortino Ratio Rank: 31
VHGEX Omega Ratio Rank: 31
VHGEX Calmar Ratio Rank: 29
VHGEX Martin Ratio Rank: 35

VBAIX

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

VHGEX vs. VBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Equity Fund (VHGEX) 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.

	VHGEX	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.53	-0.86
Sortino ratio: Return per unit of downside risk	2.33	3.60	-1.28
Omega ratio: Gain probability vs. loss probability	1.30	1.47	-0.17
Calmar ratio: Return relative to maximum drawdown	2.02	3.42	-1.40
Martin ratio: Return relative to average drawdown	7.79	15.63	-7.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHGEX vs. VBAIX - Sharpe Ratio Comparison

The current VHGEX Sharpe Ratio is 1.67, which is lower than the VBAIX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of VHGEX 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.

Sharpe Ratios by Period

	VHGEX	VBAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.53	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.78	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.91	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.13

Drawdowns

VHGEX vs. VBAIX - Drawdown Comparison

The maximum VHGEX drawdown since its inception was -64.81%, which is greater than VBAIX's maximum drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for VHGEX and VBAIX.

Drawdown Indicators

	VHGEX	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.81%	-35.82%	-28.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-5.84%	-6.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-11.57%	-7.64%
Max Drawdown (5Y) Largest decline over 5 years	-33.02%	-21.52%	-11.50%
Max Drawdown (10Y) Largest decline over 10 years	-33.23%	-22.77%	-10.46%
Current Drawdown Current decline from peak	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-9.96%	-4.42%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	1.27%	+1.82%

Volatility

VHGEX vs. VBAIX - Volatility Comparison

Vanguard Global Equity Fund (VHGEX) has a higher volatility of 3.41% compared to Vanguard Balanced Index Fund Institutional Shares (VBAIX) at 2.26%. This indicates that VHGEX's price experiences larger fluctuations and is considered to be riskier than VBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHGEX	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	2.26%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	11.11%	6.11%	+5.00%
Volatility (1Y) Calculated over the trailing 1-year period	14.47%	7.90%	+6.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	11.10%	+7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	11.23%	+6.81%

VHGEX vs. VBAIX - Expense Ratio Comparison

VHGEX has a 0.45% expense ratio, which is higher than VBAIX's 0.06% expense ratio.

Dividends

VHGEX vs. VBAIX - Dividend Comparison

VHGEX's dividend yield for the trailing twelve months is around 11.49%, more than VBAIX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.22%	6.01%	8.01%	4.36%	2.84%	3.20%	2.65%	2.29%	2.33%	1.96%	2.10%	2.10%
VHGEX Vanguard Global Equity Fund	11.49%	12.38%	4.24%	1.15%	11.32%	10.90%	2.88%	6.20%	8.45%	1.29%	1.51%	1.71%

Frequently Asked Questions

Can I hold both VHGEX and VBAIX in my portfolio?

With a correlation of 0.94, VHGEX 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.

Which is riskier, VHGEX or VBAIX?

VHGEX has higher volatility (3.41%) compared to VBAIX (2.26%). In terms of maximum drawdown, VHGEX dropped -64.81% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

VBAIX currently has the higher Sharpe Ratio (2.53 vs 1.67), 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.