VLXVX vs. AYBLX

Last updated Jun 24, 2026

VLXVX (Vanguard Target Retirement 2065 Fund) and AYBLX (Pioneer Balanced ESG Fund) are both Diversified Portfolio funds. Over the past 5 years, VLXVX returned 10.13%/yr vs 9.89%/yr for AYBLX. Their correlation of 0.94 suggests significant overlap in exposure. VLXVX charges 0.08%/yr vs 0.65%/yr for AYBLX.

Performance

VLXVX vs. AYBLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2065 Fund (VLXVX) and Pioneer Balanced ESG Fund (AYBLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLXVX achieves a 11.44% return, which is significantly lower than AYBLX's 14.22% return.

VLXVX

• 1D: -0.13%
• 1M: 1.57%
• YTD: 11.44%
• 6M: 10.80%
• 1Y: 26.53%
• 3Y*: 19.16%
• 5Y*: 10.13%
• 10Y*: —

AYBLX

• 1D: 0.93%
• 1M: 1.85%
• YTD: 14.22%
• 6M: 14.00%
• 1Y: 33.22%
• 3Y*: 17.09%
• 5Y*: 9.89%
• 10Y*: 10.59%

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

VLXVX vs. AYBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLXVX Vanguard Target Retirement 2065 Fund	11.44%	21.44%	14.37%	20.40%	-17.41%	16.46%	16.18%	24.97%	-7.94%	7.68%
AYBLX Pioneer Balanced ESG Fund	14.22%	19.80%	9.64%	15.41%	-14.39%	15.48%	12.92%	22.22%	-4.43%	6.63%

Correlation

The correlation between VLXVX and AYBLX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 27, 2017	0.94

The correlation between VLXVX and AYBLX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

VLXVX vs. AYBLX — Risk / Return Rank

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

VLXVX

VLXVX Risk / Return Rank: 71
VLXVX Sharpe Ratio Rank: 73
VLXVX Sortino Ratio Rank: 68
VLXVX Omega Ratio Rank: 68
VLXVX Calmar Ratio Rank: 71
VLXVX Martin Ratio Rank: 76

AYBLX

AYBLX Risk / Return Rank: 94
AYBLX Sharpe Ratio Rank: 97
AYBLX Sortino Ratio Rank: 95
AYBLX Omega Ratio Rank: 90
AYBLX Calmar Ratio Rank: 94
AYBLX Martin Ratio Rank: 97

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.

VLXVX vs. AYBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2065 Fund (VLXVX) and Pioneer Balanced ESG Fund (AYBLX). 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.

	VLXVX	AYBLX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	3.30	-1.02
Sortino ratio: Return per unit of downside risk	3.12	4.63	-1.51
Omega ratio: Gain probability vs. loss probability	1.42	1.61	-0.19
Calmar ratio: Return relative to maximum drawdown	3.09	5.12	-2.02
Martin ratio: Return relative to average drawdown	13.38	23.78	-10.39

VLXVX vs. AYBLX - Sharpe Ratio Comparison

The current VLXVX Sharpe Ratio is 2.28, which is lower than the AYBLX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of VLXVX and AYBLX, 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

VLXVX vs. AYBLX - Drawdown Comparison

The maximum VLXVX drawdown since its inception was -31.42%, smaller than the maximum AYBLX drawdown of -36.28%. Use the drawdown chart below to compare losses from any high point for VLXVX and AYBLX.

Drawdown Indicators

	VLXVX	AYBLX	Difference
Max Drawdown Largest peak-to-trough decline	-31.42%	-36.28%	+4.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-6.41%	-2.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.53%	-13.39%	-1.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.37%	-20.26%	-5.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.24%	—
Current Drawdown Current decline from peak	-0.65%	-0.32%	-0.33%
Average Drawdown Average peak-to-trough decline	-4.97%	-3.78%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.38%	+0.68%

Volatility

VLXVX vs. AYBLX - Volatility Comparison

Vanguard Target Retirement 2065 Fund (VLXVX) has a higher volatility of 4.79% compared to Pioneer Balanced ESG Fund (AYBLX) at 3.74%. This indicates that VLXVX's price experiences larger fluctuations and is considered to be riskier than AYBLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLXVX	AYBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	3.74%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	7.86%	+2.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	9.94%	+2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	11.13%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	11.33%	+4.38%

VLXVX vs. AYBLX - Expense Ratio Comparison

VLXVX has a 0.08% expense ratio, which is lower than AYBLX's 0.65% expense ratio.

Dividends

VLXVX vs. AYBLX - Dividend Comparison

VLXVX's dividend yield for the trailing twelve months is around 1.80%, less than AYBLX's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AYBLX Pioneer Balanced ESG Fund	3.24%	3.58%	2.59%	1.76%	3.23%	8.61%	4.12%	6.03%	9.97%	9.42%	2.63%	4.14%
VLXVX Vanguard Target Retirement 2065 Fund	1.80%	2.00%	2.11%	2.06%	2.00%	1.93%	1.60%	1.90%	1.85%	0.78%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLXVX and AYBLX in my portfolio?

With a correlation of 0.92, VLXVX and AYBLX 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, VLXVX or AYBLX?

VLXVX has higher volatility (4.79%) compared to AYBLX (3.74%). In terms of maximum drawdown, VLXVX dropped -31.42% vs AYBLX's -36.28%.

Which has better risk-adjusted returns?

AYBLX currently has the higher Sharpe Ratio (3.30 vs 2.28), 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.