BWDTX vs. VMSIX

Last updated Apr 1, 2026

Compare and contrast key facts about Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and Vanguard Multi-Sector Income Bond Inv (VMSIX).

BWDTX is managed by Boyd Watterson. It was launched on Jul 28, 2016. VMSIX is an actively managed fund by Vanguard. It was launched on Oct 14, 2021.

Performance

BWDTX vs. VMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and Vanguard Multi-Sector Income Bond Inv (VMSIX). The values are adjusted to include any dividend payments, if applicable.

BWDTX vs. VMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	0.05%	7.14%	4.92%	9.80%	-2.29%
VMSIX Vanguard Multi-Sector Income Bond Inv	-1.00%	9.09%	6.68%	10.43%	-8.50%

Returns By Period

In the year-to-date period, BWDTX achieves a 0.05% return, which is significantly higher than VMSIX's -1.00% return.

BWDTX

• 1D: 0.15%
• 1M: -0.85%
• YTD: 0.05%
• 6M: 1.65%
• 1Y: 5.72%
• 3Y*: 6.45%
• 5Y*: 4.05%
• 10Y*: —

VMSIX

• 1D: 0.22%
• 1M: -1.88%
• YTD: -1.00%
• 6M: 0.67%
• 1Y: 5.96%
• 3Y*: 7.10%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BWDTX vs. VMSIX - Expense Ratio Comparison

BWDTX has a 0.40% expense ratio, which is lower than VMSIX's 0.45% expense ratio.

VMSIX

Vanguard Multi-Sector Income Bond Inv

BWDTX

Boyd Watterson Limited Duration Enhanced Income Fund

Return for Risk

BWDTX vs. VMSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BWDTX

BWDTX Risk / Return Rank: 93
BWDTX Sharpe Ratio Rank: 96
BWDTX Sortino Ratio Rank: 92
BWDTX Omega Ratio Rank: 97
BWDTX Calmar Ratio Rank: 91
BWDTX Martin Ratio Rank: 92

VMSIX

VMSIX Risk / Return Rank: 92
VMSIX Sharpe Ratio Rank: 94
VMSIX Sortino Ratio Rank: 94
VMSIX Omega Ratio Rank: 93
VMSIX Calmar Ratio Rank: 87
VMSIX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BWDTX vs. VMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and Vanguard Multi-Sector Income Bond Inv (VMSIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BWDTX	VMSIX	Difference
Sharpe ratio Return per unit of total volatility	2.31	2.08	+0.23
Sortino ratio Return per unit of downside risk	2.78	2.93	-0.15
Omega ratio Gain probability vs. loss probability	1.70	1.47	+0.23
Calmar ratio Return relative to maximum drawdown	2.58	2.27	+0.31
Martin ratio Return relative to average drawdown	10.82	10.30	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BWDTX vs. VMSIX - Sharpe Ratio Comparison

The current BWDTX Sharpe Ratio is 2.31, which is comparable to the VMSIX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of BWDTX and VMSIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BWDTX	VMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.08	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	0.79	+0.97

Correlation

The correlation between BWDTX and VMSIX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BWDTX vs. VMSIX - Dividend Comparison

BWDTX's dividend yield for the trailing twelve months is around 5.74%, more than VMSIX's 5.07% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund	5.74%	5.70%	4.13%	5.51%	3.80%	3.20%	3.18%	3.47%	4.18%	2.90%	1.35%
VMSIX Vanguard Multi-Sector Income Bond Inv	5.07%	5.56%	6.37%	5.43%	3.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BWDTX vs. VMSIX - Drawdown Comparison

The maximum BWDTX drawdown since its inception was -10.06%, smaller than the maximum VMSIX drawdown of -13.11%. Use the drawdown chart below to compare losses from any high point for BWDTX and VMSIX.

Drawdown Indicators

	BWDTX	VMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-10.06%	-13.11%	+3.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.22%	-2.65%	+1.43%
Max Drawdown (5Y) Largest decline over 5 years	-6.35%	—	—
Current Drawdown Current decline from peak	-0.85%	-1.99%	+1.14%
Average Drawdown Average peak-to-trough decline	-0.69%	-3.19%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.58%	-0.05%

Volatility

BWDTX vs. VMSIX - Volatility Comparison

The current volatility for Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) is 0.59%, while Vanguard Multi-Sector Income Bond Inv (VMSIX) has a volatility of 1.23%. This indicates that BWDTX experiences smaller price fluctuations and is considered to be less risky than VMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWDTX	VMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	1.23%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	0.88%	1.67%	-0.79%
Volatility (1Y) Calculated over the trailing 1-year period	1.93%	2.91%	-0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.19%	4.75%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.21%	4.75%	-2.54%