VLXVX vs. BWBIX

Last updated Aug 2, 2026

VLXVX (Vanguard Target Retirement 2065 Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, VLXVX returned 9.56%/yr vs 3.22%/yr for BWBIX. Their correlation of 0.88 means they have usually moved in the same direction. VLXVX charges 0.08%/yr vs 0.05%/yr for BWBIX.

Performance

VLXVX vs. BWBIX - Performance Comparison

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

Returns By Period

In the year-to-date period, VLXVX achieves a 10.02% return, which is significantly higher than BWBIX's 0.78% return.

VLXVX

• 1D: 1.90%
• 1M: -0.45%
• 6M: 6.79%
• YTD: 10.02%
• 1Y: 21.67%
• 3Y*: 16.59%
• 5Y*: 9.56%
• 10Y*: —
• ALL TIME*: 10.94%

BWBIX

• 1D: -0.64%
• 1M: -5.41%
• 6M: 2.24%
• YTD: 0.78%
• 1Y: 9.65%
• 3Y*: 10.86%
• 5Y*: 3.22%
• 10Y*: —
• ALL TIME*: 11.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BWBIX Baron WealthBuilder Fund	$0.00	$0.00	$0.00
VLXVX Vanguard Target Retirement 2065 Fund	$0.00	$0.00	$0.00

VLXVX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VLXVX Vanguard Target Retirement 2065 Fund	10.02%	21.44%	14.37%	20.40%	-17.41%	16.46%	16.18%	24.97%	-9.28%
BWBIX Baron WealthBuilder Fund	0.78%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between VLXVX and BWBIX is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (All Time) Calculated using the full available price history since May 21, 2018	0.88

The correlation between VLXVX and BWBIX shifts across timeframes, from 0.74 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VLXVX vs. BWBIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VLXVX

VLXVX Risk / Return Rank: 71
VLXVX Sharpe Ratio Rank: 70
VLXVX Sortino Ratio Rank: 67
VLXVX Omega Ratio Rank: 68
VLXVX Calmar Ratio Rank: 71
VLXVX Martin Ratio Rank: 79

BWBIX

BWBIX Risk / Return Rank: 13
BWBIX Sharpe Ratio Rank: 12
BWBIX Sortino Ratio Rank: 13
BWBIX Omega Ratio Rank: 13
BWBIX Calmar Ratio Rank: 14
BWBIX Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VLXVX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2065 Fund (VLXVX) and Baron WealthBuilder Fund (BWBIX). 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	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.46	+1.12
Sortino ratio: Return per unit of downside risk	2.22	0.81	+1.42
Omega ratio: Gain probability vs. loss probability	1.29	1.09	+0.19
Calmar ratio: Return relative to maximum drawdown	2.24	0.64	+1.60
Martin ratio: Return relative to average drawdown	9.30	1.96	+7.34

VLXVX vs. BWBIX - Sharpe Ratio Comparison

The current VLXVX Sharpe Ratio is 1.59, which is higher than the BWBIX Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of VLXVX and BWBIX, 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. BWBIX - Drawdown Comparison

The maximum VLXVX drawdown since its inception was -31.42%, smaller than the maximum BWBIX drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for VLXVX and BWBIX.

Drawdown Indicators

	VLXVX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.42%	-39.14%	+7.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-11.65%	+2.72%
Max Drawdown (3Y) Largest decline over 3 years	-14.53%	-21.59%	+7.06%
Max Drawdown (5Y) Largest decline over 5 years	-25.37%	-39.14%	+13.77%
Current Drawdown Current decline from peak	-1.92%	-5.90%	+3.98%
Average Drawdown Average peak-to-trough decline	-4.93%	-11.55%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	3.79%	-1.65%

Volatility

VLXVX vs. BWBIX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2065 Fund (VLXVX) is 3.74%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 4.30%. This indicates that VLXVX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLXVX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	4.30%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	12.24%	-1.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	16.10%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	21.31%	-6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	23.09%	-7.40%

VLXVX vs. BWBIX - Expense Ratio Comparison

VLXVX has a 0.08% expense ratio, which is higher than BWBIX's 0.05% 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

VLXVX vs. BWBIX - Dividend Comparison

VLXVX's dividend yield for the trailing twelve months is around 1.82%, less than BWBIX's 7.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BWBIX Baron WealthBuilder Fund	7.55%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%
VLXVX Vanguard Target Retirement 2065 Fund	1.82%	2.00%	2.11%	2.06%	2.00%	1.93%	1.60%	1.90%	1.85%	0.78%

Frequently Asked Questions

Can I hold both VLXVX and BWBIX in my portfolio?

VLXVX and BWBIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLXVX or BWBIX?

BWBIX has higher volatility (4.30%) compared to VLXVX (3.74%). In terms of maximum drawdown, VLXVX dropped -31.42% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

VLXVX currently has the higher Sharpe Ratio (1.58 vs 0.46), 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.