HYGW vs. VWINX
HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) and VWINX (Vanguard Wellesley Income Fund Investor Shares) are both funds - HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index, while VWINX is a Diversified Portfolio fund actively managed by Vanguard. HYGW is passively managed, while VWINX is actively managed. Over the past 3 years, HYGW returned 5.70%/yr vs 8.40%/yr for VWINX. A 0.62 correlation means they provide meaningful diversification when combined. HYGW charges 0.69%/yr vs 0.22%/yr for VWINX.
Performance
HYGW vs. VWINX - Performance Comparison
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Returns By Period
In the year-to-date period, HYGW achieves a 2.12% return, which is significantly lower than VWINX's 3.39% return.
HYGW
- 1D
- 0.24%
- 1M
- 0.84%
- YTD
- 2.12%
- 6M
- 2.52%
- 1Y
- 6.56%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
VWINX
- 1D
- 0.26%
- 1M
- 1.12%
- YTD
- 3.39%
- 6M
- 3.55%
- 1Y
- 10.49%
- 3Y*
- 8.40%
- 5Y*
- 4.24%
- 10Y*
- 5.77%
HYGW vs. VWINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.12% | 6.19% | 6.99% | 7.31% | -0.39% |
VWINX Vanguard Wellesley Income Fund Investor Shares | 3.39% | 10.98% | 5.86% | 6.99% | -2.33% |
Correlation
The correlation between HYGW and VWINX 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 (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.62 |
The correlation between HYGW and VWINX shifts across timeframes, from 0.50 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYGW vs. VWINX — Risk / Return Rank
HYGW
VWINX
HYGW vs. VWINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and Vanguard Wellesley Income Fund Investor Shares (VWINX). 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.
| HYGW | VWINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.37 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 2.53 | +1.09 |
| Martin ratioReturn relative to average drawdown | 16.51 | 9.52 | +6.99 |
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Drawdowns
HYGW vs. VWINX - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum VWINX drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for HYGW and VWINX.
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Drawdown Indicators
| HYGW | VWINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.49% | -21.72% | +16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -4.16% | +2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -6.98% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.43% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.35% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -2.63% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.10% | -0.70% |
Volatility
HYGW vs. VWINX - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 0.91%, while Vanguard Wellesley Income Fund Investor Shares (VWINX) has a volatility of 1.63%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than VWINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGW | VWINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.63% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 3.92% | -1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.87% | 5.20% | -2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.67% | 6.99% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 6.93% | -2.26% |
HYGW vs. VWINX - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is higher than VWINX's 0.22% expense ratio.
Dividends
HYGW vs. VWINX - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 11.52%, more than VWINX's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 11.52% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWINX Vanguard Wellesley Income Fund Investor Shares | 8.64% | 7.86% | 6.61% | 4.73% | 7.67% | 6.03% | 4.30% | 3.94% | 7.56% | 3.20% | 4.00% | 5.60% |
Frequently Asked Questions
HYGW and VWINX 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.
VWINX has higher volatility (1.63%) compared to HYGW (0.91%). In terms of maximum drawdown, HYGW dropped -5.49% vs VWINX's -21.72%.
HYGW currently has the higher Sharpe Ratio (2.31 vs 2.03), 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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