VTMGX vs. VBIAX

Last updated Jun 4, 2026

VTMGX (Vanguard Developed Markets Index Fund Admiral Shares) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - VTMGX is a Large Cap Growth Equities fund managed by Vanguard, while VBIAX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VTMGX returned 10.24%/yr vs 9.83%/yr for VBIAX. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.

Performance

VTMGX vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) 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, VTMGX achieves a 15.89% return, which is significantly higher than VBIAX's 7.35% return. Both investments have delivered pretty close results over the past 10 years, with VTMGX having a 10.24% annualized return and VBIAX not far behind at 9.83%.

VTMGX

• 1D: 0.26%
• 1M: 6.03%
• YTD: 15.89%
• 6M: 19.15%
• 1Y: 33.58%
• 3Y*: 20.20%
• 5Y*: 9.96%
• 10Y*: 10.24%

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%

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

VTMGX vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	15.89%	35.17%	3.03%	17.65%	-15.33%	11.39%	10.25%	22.04%	-14.48%	26.39%
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 VTMGX and VBIAX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000	0.75

The correlation between VTMGX and VBIAX has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

VTMGX vs. VBIAX - Sectors Allocation Comparison

Sectors	VTMGX	VBIAX
Financial Services	23.3%	12.0%
Industrials	19.2%	9.8%
Technology	13.8%	33.5%
Healthcare	8.2%	9.2%
Basic Materials	7.5%	2.0%
Consumer Cyclical	7.5%	10.0%
Consumer Defensive	5.6%	4.7%
Energy	5.4%	3.7%
Communication Services	3.4%	10.3%
Utilities	3.3%	2.3%
Real Estate	2.7%	2.4%

Return for Risk

VTMGX vs. VBIAX — Risk / Return Rank

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

VTMGX

VTMGX Risk / Return Rank: 52
VTMGX Sharpe Ratio Rank: 54
VTMGX Sortino Ratio Rank: 49
VTMGX Omega Ratio Rank: 50
VTMGX Calmar Ratio Rank: 54
VTMGX Martin Ratio Rank: 54

VBIAX

VBIAX Risk / Return Rank: 76
VBIAX Sharpe Ratio Rank: 76
VBIAX Sortino Ratio Rank: 74
VBIAX Omega Ratio Rank: 70
VBIAX Calmar Ratio Rank: 75
VBIAX Martin Ratio Rank: 83

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.

VTMGX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) 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.

	VTMGX	VBIAX	Difference
Sharpe ratio Return per unit of total volatility	2.17	2.52	-0.35
Sortino ratio Return per unit of downside risk	2.95	3.59	-0.64
Omega ratio Gain probability vs. loss probability	1.39	1.47	-0.08
Calmar ratio Return relative to maximum drawdown	2.81	3.42	-0.61
Martin ratio Return relative to average drawdown	10.88	15.60	-4.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTMGX vs. VBIAX - Sharpe Ratio Comparison

The current VTMGX Sharpe Ratio is 2.17, which is comparable to the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VTMGX 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.

Sharpe Ratios by Period

	VTMGX	VBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.52	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.73	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.88	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.64	-0.33

Drawdowns

VTMGX vs. VBIAX - Drawdown Comparison

The maximum VTMGX drawdown since its inception was -60.58%, which is greater than VBIAX's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for VTMGX and VBIAX.

Drawdown Indicators

	VTMGX	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-35.90%	-24.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-5.83%	-5.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-11.70%	-1.48%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-21.53%	-8.18%
Max Drawdown (10Y) Largest decline over 10 years	-35.68%	-22.78%	-12.90%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.66%	-4.44%	-10.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	1.27%	+1.74%

Volatility

VTMGX vs. VBIAX - Volatility Comparison

Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) has a higher volatility of 4.97% compared to Vanguard Balanced Index Fund Admiral Shares (VBIAX) at 2.26%. This indicates that VTMGX'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.

Volatility by Period

	VTMGX	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	2.26%	+2.71%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	6.11%	+6.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	7.90%	+7.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.87%	11.05%	+4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	11.21%	+5.33%

VTMGX vs. VBIAX - Expense Ratio Comparison

Both VTMGX and VBIAX have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VTMGX vs. VBIAX - Dividend Comparison

VTMGX's dividend yield for the trailing twelve months is around 2.58%, 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%
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	2.58%	3.20%	3.34%	3.14%	2.88%	3.14%	2.02%	3.03%	3.33%	2.77%	3.06%	2.91%

Frequently Asked Questions

Can I hold both VTMGX and VBIAX in my portfolio?

VTMGX and VBIAX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTMGX or VBIAX?

VTMGX has higher volatility (4.97%) compared to VBIAX (2.26%). In terms of maximum drawdown, VTMGX dropped -60.58% vs VBIAX's -35.90%.

Which has better risk-adjusted returns?

VBIAX currently has the higher Sharpe Ratio (2.52 vs 2.17), 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.