FLXR vs. VMSAX
FLXR (TCW Flexible Income ETF) and VMSAX (Vanguard Multi-Sector Income Bond Fund Admiral Shares) are both Multisector Bonds funds. Both are actively managed. Over the past year, FLXR returned 5.35% vs 6.25% for VMSAX. A 0.68 correlation means they provide meaningful diversification when combined. FLXR charges 0.40%/yr vs 0.30%/yr for VMSAX.
Performance
FLXR vs. VMSAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FLXR having a 1.28% return and VMSAX slightly lower at 1.24%.
FLXR
- 1D
- 0.13%
- 1M
- 0.37%
- YTD
- 1.28%
- 6M
- 1.48%
- 1Y
- 5.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VMSAX
- 1D
- -0.05%
- 1M
- 0.63%
- YTD
- 1.24%
- 6M
- 1.46%
- 1Y
- 6.25%
- 3Y*
- 7.88%
- 5Y*
- —
- 10Y*
- —
FLXR vs. VMSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLXR TCW Flexible Income ETF | 1.28% | 8.37% | 4.42% |
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares | 1.24% | 9.08% | 4.50% |
Correlation
The correlation between FLXR and VMSAX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2024 | 0.68 |
The correlation between FLXR and VMSAX has been stable across timeframes, ranging from 0.68 to 0.68 - a consistent structural relationship.
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Return for Risk
FLXR vs. VMSAX — Risk / Return Rank
FLXR
VMSAX
FLXR vs. VMSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Flexible Income ETF (FLXR) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX). 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.
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.
| FLXR | VMSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 2.10 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 0.12 | +3.55 |
| Martin ratioReturn relative to average drawdown | 15.58 | 1.85 | +13.74 |
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Drawdowns
FLXR vs. VMSAX - Drawdown Comparison
The maximum FLXR drawdown since its inception was -1.94%, smaller than the maximum VMSAX drawdown of -54.84%. Use the drawdown chart below to compare losses from any high point for FLXR and VMSAX.
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Drawdown Indicators
| FLXR | VMSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.94% | -54.84% | +52.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -54.84% | +53.38% |
Max Drawdown (3Y)Largest decline over 3 years | — | -54.84% | — |
Current DrawdownCurrent decline from peak | -0.29% | -0.22% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -3.06% | +2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 3.49% | -3.15% |
Volatility
FLXR vs. VMSAX - Volatility Comparison
TCW Flexible Income ETF (FLXR) has a higher volatility of 0.81% compared to Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) at 0.76%. This indicates that FLXR's price experiences larger fluctuations and is considered to be riskier than VMSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXR | VMSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.76% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.74% | 2.05% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.32% | 133.59% | -131.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 63.90% | -61.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.81% | 63.90% | -61.09% |
FLXR vs. VMSAX - Expense Ratio Comparison
FLXR has a 0.40% expense ratio, which is higher than VMSAX's 0.30% expense ratio.
Dividends
FLXR vs. VMSAX - Dividend Comparison
FLXR's dividend yield for the trailing twelve months is around 5.81%, more than VMSAX's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLXR TCW Flexible Income ETF | 5.81% | 5.66% | 3.44% | 0.00% | 0.00% |
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares | 5.54% | 5.66% | 6.48% | 5.52% | 3.76% |
Frequently Asked Questions
FLXR and VMSAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLXR has higher volatility (0.81%) compared to VMSAX (0.76%). In terms of maximum drawdown, FLXR dropped -1.94% vs VMSAX's -54.84%.
FLXR currently has the higher Sharpe Ratio (2.32 vs 0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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