HSTRX vs. VWIAX

Last updated Jun 24, 2026

HSTRX (Hussman Strategic Total Return Fund) and VWIAX (Vanguard Wellesley Income Fund Admiral Shares) are both mutual funds - HSTRX is a Tactical Allocation fund managed by Hussman Funds, while VWIAX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, HSTRX returned 5.04%/yr vs 5.88%/yr for VWIAX. At a 0.39 correlation, their price movements are largely independent. HSTRX charges 0.75%/yr vs 0.16%/yr for VWIAX.

Performance

HSTRX vs. VWIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hussman Strategic Total Return Fund (HSTRX) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HSTRX achieves a 3.36% return, which is significantly higher than VWIAX's 3.19% return. Over the past 10 years, HSTRX has underperformed VWIAX with an annualized return of 5.04%, while VWIAX has yielded a comparatively higher 5.88% annualized return.

HSTRX

• 1D: -0.29%
• 1M: 0.00%
• YTD: 3.36%
• 6M: 3.21%
• 1Y: 12.71%
• 3Y*: 11.20%
• 5Y*: 5.66%
• 10Y*: 5.04%

VWIAX

• 1D: -0.22%
• 1M: 0.24%
• YTD: 3.19%
• 6M: 3.02%
• 1Y: 9.79%
• 3Y*: 8.73%
• 5Y*: 4.22%
• 10Y*: 5.88%

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

HSTRX vs. VWIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HSTRX Hussman Strategic Total Return Fund	3.36%	20.33%	6.06%	6.04%	-6.23%	1.21%	11.45%	11.42%	1.48%	1.21%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	3.19%	11.08%	5.92%	7.07%	-9.04%	8.55%	8.52%	16.47%	-2.49%	9.37%

Correlation

The correlation between HSTRX and VWIAX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 16, 2002	0.39

The correlation between HSTRX and VWIAX shifts across timeframes, from 0.39 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

HSTRX vs. VWIAX — Risk / Return Rank

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

HSTRX

HSTRX Risk / Return Rank: 88
HSTRX Sharpe Ratio Rank: 88
HSTRX Sortino Ratio Rank: 88
HSTRX Omega Ratio Rank: 86
HSTRX Calmar Ratio Rank: 95
HSTRX Martin Ratio Rank: 82

VWIAX

VWIAX Risk / Return Rank: 49
VWIAX Sharpe Ratio Rank: 52
VWIAX Sortino Ratio Rank: 54
VWIAX Omega Ratio Rank: 50
VWIAX Calmar Ratio Rank: 46
VWIAX Martin Ratio Rank: 47

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.

HSTRX vs. VWIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hussman Strategic Total Return Fund (HSTRX) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). 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.

	HSTRX	VWIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.68	1.96	+0.71
Sortino ratio: Return per unit of downside risk	3.94	2.83	+1.11
Omega ratio: Gain probability vs. loss probability	1.54	1.35	+0.19
Calmar ratio: Return relative to maximum drawdown	5.51	2.47	+3.04
Martin ratio: Return relative to average drawdown	14.16	9.28	+4.88

HSTRX vs. VWIAX - Sharpe Ratio Comparison

The current HSTRX Sharpe Ratio is 2.68, which is higher than the VWIAX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of HSTRX and VWIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HSTRX vs. VWIAX - Drawdown Comparison

The maximum HSTRX drawdown since its inception was -13.53%, smaller than the maximum VWIAX drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for HSTRX and VWIAX.

Drawdown Indicators

	HSTRX	VWIAX	Difference
Max Drawdown Largest peak-to-trough decline	-13.53%	-21.64%	+8.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.42%	-4.15%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-6.96%	+2.72%
Max Drawdown (5Y) Largest decline over 5 years	-13.53%	-15.26%	+1.73%
Max Drawdown (10Y) Largest decline over 10 years	-13.53%	-17.41%	+3.88%
Current Drawdown Current decline from peak	-1.82%	-0.57%	-1.25%
Average Drawdown Average peak-to-trough decline	-2.69%	-2.21%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.10%	-0.16%

Volatility

HSTRX vs. VWIAX - Volatility Comparison

The current volatility for Hussman Strategic Total Return Fund (HSTRX) is 1.17%, while Vanguard Wellesley Income Fund Admiral Shares (VWIAX) has a volatility of 1.61%. This indicates that HSTRX experiences smaller price fluctuations and is considered to be less risky than VWIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HSTRX	VWIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.61%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	3.95%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	5.00%	5.24%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.41%	6.99%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.90%	6.94%	-1.04%

HSTRX vs. VWIAX - Expense Ratio Comparison

HSTRX has a 0.75% expense ratio, which is higher than VWIAX's 0.16% expense ratio.

Dividends

HSTRX vs. VWIAX - Dividend Comparison

HSTRX's dividend yield for the trailing twelve months is around 2.38%, less than VWIAX's 7.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSTRX Hussman Strategic Total Return Fund	2.38%	2.25%	2.91%	2.54%	2.15%	1.33%	0.52%	1.29%	1.20%	0.37%	0.25%	0.42%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	7.87%	7.93%	6.69%	4.80%	7.75%	6.11%	4.37%	4.00%	7.64%	3.25%	4.07%	5.66%

Frequently Asked Questions

Can I hold both HSTRX and VWIAX in my portfolio?

HSTRX and VWIAX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HSTRX or VWIAX?

VWIAX has higher volatility (1.61%) compared to HSTRX (1.17%). In terms of maximum drawdown, HSTRX dropped -13.53% vs VWIAX's -21.64%.

Which has better risk-adjusted returns?

HSTRX currently has the higher Sharpe Ratio (2.68 vs 1.96), 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.