Fund Evaluator:
Vanguard Balanced Index Adm (VBIAX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Vanguard Balanced Index Adm Overview
Vanguard Balanced Index Adm (VBIAX) is a passively managed Allocation Moderate Allocation fund. Vanguard launched the fund in 2000.
The investment seeks to track the performance of a benchmark index that measures the investment return of the overall U.S. stock market with 60% of its assets; the fund seeks to track the performance of a broad, market-weighted bond index with 40% of its assets. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities that make up the target indexes and in securities that the advisor determines have substantially identical economic characteristics to the securities that make up the target indexes.
About Vanguard Balanced Index Adm (VBIAX)
There are 4 members of the management team with an average tenure of 5.96 years: Joshua Barrickman (2013), Michael Roach (2023), Tara Talone (2022), Aurélie Denis (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: CRSP US Total Market TR USD index with a weighting of 100% and Bloomberg US Agg Float Adj TR USD index with a weighting of 100%. Vanguard Balanced Index Adm has 16045 securities in its portfolio. The top 10 holdings constitute 21.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard Balanced Index Adm is part of the Allocation global asset class and is within the Allocation fund group. Vanguard Balanced Index Adm has 3.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 60.3%. There is 0.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 37.1% (34.5% domestic bond, 2.6% foreign bond and 0.0% convertible bond). Vanguard Balanced Index Adm has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $51 billion in total assets, which is above the $2 billion average for the Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VBIAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard Balanced Index Adm expense ratio is low compared to funds in the Moderate Allocation category. Vanguard Balanced Index Adm has an expense ratio of 0.07%, which is 93% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard Balanced Index Adm has a portfolio turnover rate of 31%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of June 2026, Vanguard Balanced Index Adm returned -0.1%, which earned it a grade of D, as the Moderate Allocation category had an average return of 0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Vanguard Balanced Index Adm has a trailing yield of 2.05%, which is above the 1.97% category average. The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard Balanced Index Adm Grades
Year to date, the fund has returned 7.0%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 15.3% over the past year (grade of B), 14.0% over the past three years (grade of B) and 7.5% per year over the past five years (grade of B) and 9.7% per year over the past 10 years (grade of B).
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VBIAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VBIAX Return (NAV) | -0.1% | 9.6% | 15.3% | 14.0% | 7.5% | 9.7% |
| VBIAX Grade | D | B | B | B | B | B |
| +/- Category | -0.2% | 1.3% | 1.0% | 1.1% | 0.6% | 1.0% |
| Moderate Allocation Avg | 0.1% | 8.3% | 14.2% | 12.9% | 6.9% | 8.7% |
| VBIAX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.3% | 1.0% |
VBIAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VBIAX Return (NAV) | 7.0% | 13.6% | 14.6% | 17.6% | -16.9% | 14.2% | 16.4% | 21.8% | -2.9% | 13.9% | 8.8% |
| VBIAX Grade | C | C | B | B | F | C | B | B | A | C | B |
| +/- Category | 0.2% | 0.3% | 2.4% | 3.2% | -2.9% | -0.2% | 3.5% | 2.0% | 2.2% | 0.2% | 1.1% |
| Moderate Allocation Avg | 6.7% | 13.3% | 12.2% | 14.4% | -14.0% | 14.4% | 12.8% | 19.8% | -5.1% | 13.7% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 9.5% |
| Total Risk Index: | 0.78 - Below Average |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (70% Rank) |
| Beta: | 0.95 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $64099 Mil |
| Fund Total Assets: | $51,745 Mil |
| Share Class Type: | ADM |
| Portfolio Turnover: | 31% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 13.4 years | |||
| Average Tenure: 6.0 years | |||
| Managers (Year): Barrickman Joshua (2013), Talone Tara (2022), Denis Aurélie (2023), Roach Michael (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 16045 |
| % in Top 10 Holdings: | 21.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.0% |
Portfolio Allocation |
|
| Domestic Stock: | 60.3% |
| Foreign Stock: | 0.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 34.5% |
| Foreign Bond: | 2.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | November 13, 2000 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.07% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Vanguard Balanced Index Inv |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
