VBIAX is a mutual fund offered by Vanguard that seeks to provide investors with a balanced portfolio of stocks and bonds. The fund aims to track the performance of a benchmark index by investing in a mix of both domestic and international stocks and bonds. As an "Admiral Shares" fund, VBIAX offers lower expense ratios and is designed for investors with larger account balances. This fund is a suitable option for those looking for a diversified investment with a moderate level of risk.