You can configure various load balancing algorithms on a virtual switch to determine how network traffic is distributed between the physical NICs in a team.

The virtual switch selects uplinks based on the virtual machine port IDs on the vSphere Standard Switch or vSphere Distributed Switch.

The virtual switch selects an uplink for a virtual machine based on the virtual machine MAC address. To calculate an uplink for a virtual machine, the virtual switch uses the virtual machine MAC address and the number of uplinks in the NIC team.

The virtual switch selects uplinks for virtual machines based on the source and destination IP address of each packet.

Route Based on Physical NIC Load is based on Route Based on Originating Virtual Port, where the virtual switch checks the actual load of the uplinks and takes steps to reduce it on overloaded uplinks. Available only for vSphere Distributed Switch.

No actual load balancing is available with this policy. The virtual switch always uses the uplink that stands first in the list of Active adapters from the failover order and that passes failover detection criteria. If no uplinks in the Active list are available, the virtual switch uses the uplinks from the Standby list.