VIVIX vs. VBIAX

Last updated Jun 24, 2026

VIVIX (Vanguard Value Index Fund Institutional Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VIVIX is a Large Cap Value 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, VIVIX returned 13.01%/yr vs 9.89%/yr for VBIAX. Their correlation of 0.91 suggests significant overlap in exposure. VIVIX charges 0.04%/yr vs 0.07%/yr for VBIAX.

Performance

VIVIX vs. VBIAX - Performance Comparison

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

Returns By Period

In the year-to-date period, VIVIX achieves a 15.10% return, which is significantly higher than VBIAX's 6.36% return. Over the past 10 years, VIVIX has outperformed VBIAX with an annualized return of 13.01%, while VBIAX has yielded a comparatively lower 9.89% annualized return.

VIVIX

• 1D: 0.97%
• 1M: 3.70%
• YTD: 15.10%
• 6M: 14.55%
• 1Y: 27.91%
• 3Y*: 18.88%
• 5Y*: 12.51%
• 10Y*: 13.01%

VBIAX

• 1D: -0.31%
• 1M: 0.57%
• YTD: 6.36%
• 6M: 5.74%
• 1Y: 17.06%
• 3Y*: 14.33%
• 5Y*: 7.55%
• 10Y*: 9.89%

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

VIVIX vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIVIX Vanguard Value Index Fund Institutional Shares	15.10%	15.30%	15.99%	9.23%	-2.05%	26.50%	2.30%	25.83%	-5.44%	17.14%
VBIAX Vanguard Balanced Index Fund Admiral Shares	6.36%	13.61%	14.58%	17.54%	-16.90%	14.21%	16.40%	21.78%	-2.86%	13.89%

Correlation

The correlation between VIVIX and VBIAX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	0.91

Over the past year, the correlation between VIVIX and VBIAX has dropped to 0.70 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

VIVIX vs. VBIAX — Risk / Return Rank

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

VIVIX

VIVIX Risk / Return Rank: 89
VIVIX Sharpe Ratio Rank: 91
VIVIX Sortino Ratio Rank: 88
VIVIX Omega Ratio Rank: 82
VIVIX Calmar Ratio Rank: 92
VIVIX Martin Ratio Rank: 91

VBIAX

VBIAX Risk / Return Rank: 67
VBIAX Sharpe Ratio Rank: 63
VBIAX Sortino Ratio Rank: 63
VBIAX Omega Ratio Rank: 61
VBIAX Calmar Ratio Rank: 70
VBIAX Martin Ratio Rank: 78

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.

VIVIX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Institutional Shares (VIVIX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VIVIX	VBIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.14	+0.65
Sortino ratio: Return per unit of downside risk	3.96	3.03	+0.93
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	4.55	3.08	+1.47
Martin ratio: Return relative to average drawdown	17.11	13.64	+3.47

VIVIX vs. VBIAX - Sharpe Ratio Comparison

The current VIVIX Sharpe Ratio is 2.80, which is higher than the VBIAX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of VIVIX 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.

Drawdowns

VIVIX vs. VBIAX - Drawdown Comparison

The maximum VIVIX drawdown since its inception was -59.30%, which is greater than VBIAX's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VIVIX and VBIAX.

Drawdown Indicators

	VIVIX	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.30%	-35.90%	-23.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-5.83%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-14.40%	-11.70%	-2.70%
Max Drawdown (5Y) Largest decline over 5 years	-17.12%	-21.53%	+4.41%
Max Drawdown (10Y) Largest decline over 10 years	-36.80%	-22.78%	-14.02%
Current Drawdown Current decline from peak	0.00%	-0.93%	+0.93%
Average Drawdown Average peak-to-trough decline	-9.24%	-4.44%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.31%	+0.38%

Volatility

VIVIX vs. VBIAX - Volatility Comparison

Vanguard Value Index Fund Institutional Shares (VIVIX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX) have volatilities of 3.36% and 3.24%, 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.

Volatility by Period

	VIVIX	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	3.24%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	6.69%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	8.38%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	11.12%	+2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	11.25%	+5.51%

VIVIX vs. VBIAX - Expense Ratio Comparison

VIVIX has a 0.04% expense ratio, which is lower than VBIAX's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VIVIX vs. VBIAX - Dividend Comparison

VIVIX's dividend yield for the trailing twelve months is around 1.82%, less than VBIAX's 5.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBIAX Vanguard Balanced Index Fund Admiral Shares	5.26%	6.00%	5.27%	4.35%	2.83%	3.19%	2.65%	2.28%	2.32%	1.95%	2.09%	2.09%
VIVIX Vanguard Value Index Fund Institutional Shares	1.82%	2.04%	2.31%	2.46%	2.52%	2.15%	2.55%	2.50%	2.73%	2.30%	2.46%	2.61%

Frequently Asked Questions

Can I hold both VIVIX and VBIAX in my portfolio?

VIVIX and VBIAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIVIX or VBIAX?

VIVIX has higher volatility (3.36%) compared to VBIAX (3.24%). In terms of maximum drawdown, VIVIX dropped -59.30% vs VBIAX's -35.90%.

Which has better risk-adjusted returns?

VIVIX currently has the higher Sharpe Ratio (2.80 vs 2.14), 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.