VLISX vs. VBIAX
VLISX (Vanguard Large-Cap Index Fund Institutional Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VLISX is a Large Cap Blend 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, VLISX returned 15.66%/yr vs 9.83%/yr for VBIAX. With a 0.98 correlation, they move nearly in lockstep. VLISX charges 0.04%/yr vs 0.07%/yr for VBIAX.
Performance
VLISX vs. VBIAX - Performance Comparison
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Returns By Period
In the year-to-date period, VLISX achieves a 11.50% return, which is significantly higher than VBIAX's 7.35% return. Over the past 10 years, VLISX has outperformed VBIAX with an annualized return of 15.66%, while VBIAX has yielded a comparatively lower 9.83% annualized return.
VLISX
- 1D
- 0.18%
- 1M
- 5.98%
- YTD
- 11.50%
- 6M
- 11.40%
- 1Y
- 28.69%
- 3Y*
- 22.98%
- 5Y*
- 13.92%
- 10Y*
- 15.66%
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%
VLISX vs. VBIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 11.50% | 18.11% | 25.12% | 27.26% | -19.68% | 27.04% | 21.04% | 31.38% | -4.47% | 22.04% |
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 VLISX and VBIAX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004 | 0.98 |
The correlation between VLISX and VBIAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VLISX vs. VBIAX — Risk / Return Rank
VLISX
VBIAX
VLISX vs. VBIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap Index Fund Institutional Shares (VLISX) 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.
| VLISX | VBIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.47 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 3.42 | -0.20 |
| Martin ratioReturn relative to average drawdown | 14.79 | 15.60 | -0.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VLISX | VBIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.48 | 2.52 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.73 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.88 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.64 | -0.05 |
Drawdowns
VLISX vs. VBIAX - Drawdown Comparison
The maximum VLISX drawdown since its inception was -54.48%, which is greater than VBIAX's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VLISX and VBIAX.
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Drawdown Indicators
| VLISX | VBIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.48% | -35.90% | -18.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.19% | -5.83% | -3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -11.70% | -7.31% |
Max Drawdown (5Y)Largest decline over 5 years | -25.65% | -21.53% | -4.12% |
Max Drawdown (10Y)Largest decline over 10 years | -33.97% | -22.78% | -11.19% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -4.44% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.27% | +0.73% |
Volatility
VLISX vs. VBIAX - Volatility Comparison
Vanguard Large-Cap Index Fund Institutional Shares (VLISX) has a higher volatility of 2.80% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that VLISX'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
| VLISX | VBIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 2.26% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 9.01% | 6.11% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.92% | 7.90% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.16% | 11.05% | +6.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 11.21% | +6.99% |
VLISX vs. VBIAX - Expense Ratio Comparison
VLISX 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
VLISX vs. VBIAX - Dividend Comparison
VLISX's dividend yield for the trailing twelve months is around 0.97%, less than VBIAX's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 0.97% | 1.08% | 1.24% | 1.41% | 1.67% | 1.19% | 1.46% | 1.81% | 2.09% | 1.76% | 1.99% | 1.97% |
Frequently Asked Questions
With a correlation of 0.98, VLISX and VBIAX 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.
VLISX has higher volatility (2.80%) compared to VBIAX (2.26%). In terms of maximum drawdown, VLISX dropped -54.48% vs VBIAX's -35.90%.
VBIAX currently has the higher Sharpe Ratio (2.52 vs 2.48), 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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