VMVLX vs. VBIAX
VMVLX (Vanguard Mega Cap Value Index Fund Institutional Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VMVLX is a Large Cap Value Equities fund managed by Vanguard, while VBIAX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VMVLX returned 12.74%/yr vs 9.83%/yr for VBIAX. Their correlation of 0.88 suggests significant overlap in exposure. VMVLX charges 0.06%/yr vs 0.07%/yr for VBIAX.
Performance
VMVLX vs. VBIAX - Performance Comparison
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Returns By Period
In the year-to-date period, VMVLX achieves a 13.01% return, which is significantly higher than VBIAX's 7.35% return. Over the past 10 years, VMVLX has outperformed VBIAX with an annualized return of 12.74%, while VBIAX has yielded a comparatively lower 9.83% annualized return.
VMVLX
- 1D
- 0.83%
- 1M
- 5.00%
- YTD
- 13.01%
- 6M
- 13.74%
- 1Y
- 26.88%
- 3Y*
- 18.83%
- 5Y*
- 11.99%
- 10Y*
- 12.74%
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%
VMVLX vs. VBIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 13.01% | 15.60% | 16.87% | 9.14% | -1.21% | 25.92% | 2.48% | 25.71% | -4.09% | 16.81% |
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 VMVLX and VBIAX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2007 | 0.88 |
The correlation between VMVLX and VBIAX shifts across timeframes, from 0.69 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VMVLX vs. VBIAX — Risk / Return Rank
VMVLX
VBIAX
VMVLX vs. VBIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) 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.
| VMVLX | VBIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.47 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 3.42 | +0.87 |
| Martin ratioReturn relative to average drawdown | 16.31 | 15.60 | +0.71 |
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
| VMVLX | VBIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.79 | 2.52 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 0.73 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.88 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.64 | -0.17 |
Drawdowns
VMVLX vs. VBIAX - Drawdown Comparison
The maximum VMVLX drawdown since its inception was -55.79%, which is greater than VBIAX's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VMVLX and VBIAX.
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Drawdown Indicators
| VMVLX | VBIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.79% | -35.90% | -19.89% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -5.83% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -13.12% | -11.70% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -21.53% | +4.93% |
Max Drawdown (10Y)Largest decline over 10 years | -35.57% | -22.78% | -12.79% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -4.44% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.27% | +0.41% |
Volatility
VMVLX vs. VBIAX - Volatility Comparison
Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) has a higher volatility of 2.62% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that VMVLX'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
| VMVLX | VBIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 2.26% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.53% | 6.11% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.84% | 7.90% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 11.05% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.47% | 11.21% | +5.26% |
VMVLX vs. VBIAX - Expense Ratio Comparison
VMVLX has a 0.06% 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
VMVLX vs. VBIAX - Dividend Comparison
VMVLX's dividend yield for the trailing twelve months is around 1.89%, 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% |
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 1.89% | 2.05% | 2.32% | 2.49% | 2.46% | 2.18% | 2.47% | 2.70% | 2.66% | 2.36% | 1.90% | 2.62% |
Frequently Asked Questions
VMVLX and VBIAX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMVLX has higher volatility (2.62%) compared to VBIAX (2.26%). In terms of maximum drawdown, VMVLX dropped -55.79% vs VBIAX's -35.90%.
VMVLX currently has the higher Sharpe Ratio (2.79 vs 2.52), 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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