- CUSIP
- 922018205
- Issuer
- Vanguard
- Inception Date
- Jun 24, 1985
- Region
- North America (U.S.)
- Category
- Large Cap Value Equities
- Min. Investment
- $3,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $65B
Share Price Chart
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Performance
VWNFX Performance Chart
Vanguard Windsor II Fund Investor Shares (VWNFX) is up 5.8% since the beginning of the year. VWNFX is currently trading at $49 per share. Investors who bought $1,000 worth of VWNFX shares 5 years ago would now be looking at an investment worth $1,674.
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Returns By Period
Vanguard Windsor II Fund Investor Shares (VWNFX) has returned 5.75% so far this year and 21.99% over the past 12 months. Over the last ten years, VWNFX has returned 12.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Vanguard Windsor II Fund Investor Shares
- 1D
- 0.15%
- 1M
- -0.26%
- YTD
- 5.75%
- 6M
- 5.28%
- 1Y
- 21.99%
- 3Y*
- 16.10%
- 5Y*
- 10.86%
- 10Y*
- 12.76%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.15%
- 1Y
- 24.03%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VWNFX Monthly Returns History
Based on dividend-adjusted daily data since Jun 24, 1985, VWNFX's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2020 with a return of +13.3%, while the worst month was Oct 1987 at -17.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VWNFX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +10.7%, while the worst single day was Mar 16, 2020 at -12.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.76% | 1.76% | -5.43% | 6.41% | 1.33% | -0.83% | 5.75% | ||||||
| 2025 | 4.52% | -1.17% | -3.87% | -2.23% | 4.93% | 4.09% | 1.18% | 3.46% | 2.28% | 0.78% | 2.13% | 1.42% | 18.51% |
| 2024 | 0.93% | 3.74% | 3.96% | -3.60% | 3.40% | 1.35% | 2.99% | 1.56% | 0.51% | -1.34% | 4.33% | -4.28% | 13.91% |
| 2023 | 6.68% | -3.17% | 1.30% | 1.56% | -1.39% | 5.79% | 4.02% | -2.58% | -3.61% | -2.10% | 8.31% | 5.37% | 21.01% |
| 2022 | -2.84% | -2.27% | 1.32% | -6.91% | 1.91% | -9.23% | 8.14% | -3.63% | -9.33% | 9.84% | 6.22% | -5.03% | -13.26% |
| 2021 | -0.26% | 6.32% | 4.94% | 4.64% | 1.93% | 0.24% | 1.48% | 1.98% | -3.52% | 5.99% | -2.50% | 4.95% | 28.84% |
Benchmark Metrics
Vanguard Windsor II Fund Investor Shares has an annualized alpha of 2.56%, beta of 0.86, and R2 of 0.84 versus S&P 500 Index. Calculated based on daily prices since June 24, 1985.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (95.86%) than losses (89.38%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.56% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 0.86 and R2 of 0.84, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.56%
- Beta
- 0.86
- R²
- 0.84
- Upside Capture
- 95.86%
- Downside Capture
- 89.38%
Expense Ratio
VWNFX has an expense ratio of 0.34%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VWNFX ranks 52 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Windsor II Fund Investor Shares (VWNFX) and compare them to S&P 500 Index.
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.
| VWNFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 2.78 | -0.02 |
| Martin ratioReturn relative to average drawdown | 11.22 | 12.44 | -1.22 |
Dividends
Dividend History
Vanguard Windsor II Fund Investor Shares provided a 10.83% dividend yield over the last twelve months, with an annual payout of $5.35 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $5.35 | $5.39 | $4.65 | $2.19 | $2.71 | $3.61 | $2.83 | $3.66 | $3.54 | $2.78 | $2.84 | $2.67 |
Dividend yield | 10.83% | 11.46% | 10.50% | 5.11% | 7.26% | 7.83% | 7.31% | 10.06% | 11.38% | 7.34% | 8.08% | 7.96% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Windsor II Fund Investor Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.36 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.99 | $5.39 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.26 | $4.65 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.87 | $2.19 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.43 | $2.71 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.36 | $3.61 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Windsor II Fund Investor Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Windsor II Fund Investor Shares was 57.57%, occurring on Mar 9, 2009. Recovery took 971 trading sessions.
The current Vanguard Windsor II Fund Investor Shares drawdown is 1.58%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -57.57%Mar 2009 | 1y 7mo | 3y 10mo | 5y 6moJul 2007 - Jan 2013 |
COVID crash2020 | -37.44%Mar 2020 | 1mo 9d | 7mo 21d | 9moFeb 2020 - Nov 2020 |
Dot-com crash2000–2002 | -34.84%Oct 2002 | 1y 4mo | 1y 3mo | 2y 8moMay 2001 - Jan 2004 |
Black Monday1987 | -30.25%Dec 1987 | 4mo 5d | 1y 4mo | 1y 8moAug 1987 - May 1989 |
2000 bear market2000 | -27.56%Feb 2000 | 9mo 17d | 1y 12d | 1y 9moMay 1999 - Mar 2001 |
Drawdown Indicators
| VWNFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.57% | -56.78% | -0.79% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -9.10% | +1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -18.90% | -2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -25.43% | +2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -37.44% | -33.92% | -3.52% |
Current DrawdownCurrent decline from peak | -1.58% | -1.80% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -7.47% | -10.71% | +3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.03% | -0.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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