Methods, systems, apparatuses, and computer program products are provided that enable storage performance to be customized and throttled at the drive level. For example, performance metric(s) may be specified for virtual drive(s) assigned to a virtual machine. Physical storage disk(s), which are mapped to the drive(s), may be allocated based on the specified performance metric(s). By providing a means to customize and throttle on a per-drive basis, each function of the virtual machine can be provided a dedicated channel for input/output transactions, thereby ensuring that no function is starved of resources.