VTV vs. VBAIX

Last updated Jun 14, 2026

VTV (Vanguard Value ETF) and VBAIX (Vanguard Balanced Index Fund Institutional Shares) are both funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while VBAIX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VTV returned 12.78%/yr vs 10.02%/yr for VBAIX. Their correlation of 0.89 suggests significant overlap in exposure. VTV charges 0.04%/yr vs 0.06%/yr for VBAIX.

Performance

VTV vs. VBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) and Vanguard Balanced Index Fund Institutional Shares (VBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTV achieves a 14.29% return, which is significantly higher than VBAIX's 5.76% return. Over the past 10 years, VTV has outperformed VBAIX with an annualized return of 12.78%, while VBAIX has yielded a comparatively lower 10.02% annualized return.

VTV

• 1D: 0.93%
• 1M: 3.87%
• YTD: 14.29%
• 6M: 13.99%
• 1Y: 27.90%
• 3Y*: 18.16%
• 5Y*: 11.76%
• 10Y*: 12.78%

VBAIX

• 1D: 1.35%
• 1M: -0.24%
• YTD: 5.76%
• 6M: 5.96%
• 1Y: 17.26%
• 3Y*: 15.19%
• 5Y*: 8.00%
• 10Y*: 10.02%

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

VTV vs. VBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	14.29%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.76%	13.60%	17.78%	17.55%	-16.87%	14.20%	16.40%	21.79%	-2.83%	13.86%

Correlation

The correlation between VTV and VBAIX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.89

The correlation between VTV and VBAIX shifts across timeframes, from 0.70 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VTV vs. VBAIX — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 88
VTV Sharpe Ratio Rank: 89
VTV Sortino Ratio Rank: 90
VTV Omega Ratio Rank: 87
VTV Calmar Ratio Rank: 87
VTV Martin Ratio Rank: 87

VBAIX

VBAIX Risk / Return Rank: 76
VBAIX Sharpe Ratio Rank: 74
VBAIX Sortino Ratio Rank: 73
VBAIX Omega Ratio Rank: 71
VBAIX Calmar Ratio Rank: 76
VBAIX Martin Ratio Rank: 85

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.

VTV vs. VBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Vanguard Balanced Index Fund Institutional Shares (VBAIX). 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.

	VTV	VBAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.02	+0.59
Sortino ratio: Return per unit of downside risk	3.71	2.84	+0.87
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.09
Calmar ratio: Return relative to maximum drawdown	4.25	2.86	+1.39
Martin ratio: Return relative to average drawdown	16.04	12.76	+3.28

VTV vs. VBAIX - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.61, which is comparable to the VBAIX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of VTV and VBAIX, 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

VTV vs. VBAIX - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than VBAIX's maximum drawdown of -35.82%. Use the drawdown chart below to compare losses from any high point for VTV and VBAIX.

Drawdown Indicators

	VTV	VBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-35.82%	-23.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-5.84%	-0.51%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-11.57%	-2.95%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-21.52%	+4.48%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-22.77%	-14.01%
Current Drawdown Current decline from peak	0.00%	-1.53%	+1.53%
Average Drawdown Average peak-to-trough decline	-7.86%	-4.42%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.31%	+0.37%

Volatility

VTV vs. VBAIX - Volatility Comparison

Vanguard Value ETF (VTV) and Vanguard Balanced Index Fund Institutional Shares (VBAIX) have volatilities of 3.34% and 3.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	VBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	3.23%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	6.61%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	8.29%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	11.15%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	11.26%	+5.42%

VTV vs. VBAIX - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than VBAIX's 0.06% 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

VTV vs. VBAIX - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.83%, less than VBAIX's 5.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBAIX Vanguard Balanced Index Fund Institutional Shares	5.31%	6.01%	8.01%	4.36%	2.84%	3.20%	2.65%	2.29%	2.33%	1.96%	2.10%	2.10%
VTV Vanguard Value ETF	1.83%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and VBAIX in my portfolio?

VTV and VBAIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTV or VBAIX?

VTV has higher volatility (3.34%) compared to VBAIX (3.23%). In terms of maximum drawdown, VTV dropped -59.27% vs VBAIX's -35.82%.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.61 vs 2.02), 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.