RPGAX vs. VWENX

Last updated Jun 13, 2026

RPGAX (T. Rowe Price Global Allocation Fund) and VWENX (Vanguard Wellington Fund Admiral Shares) are both mutual funds - RPGAX is a Global Allocation fund actively managed by T. Rowe Price, while VWENX is a Diversified Portfolio fund actively managed by Vanguard. Both are actively managed. Over the past 10 years, RPGAX returned 8.21%/yr vs 10.13%/yr for VWENX. Their correlation of 0.90 suggests significant overlap in exposure. RPGAX charges 1.01%/yr vs 0.16%/yr for VWENX.

Performance

RPGAX vs. VWENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Allocation Fund (RPGAX) and Vanguard Wellington Fund Admiral Shares (VWENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPGAX achieves a 6.32% return, which is significantly higher than VWENX's 5.10% return. Over the past 10 years, RPGAX has underperformed VWENX with an annualized return of 8.21%, while VWENX has yielded a comparatively higher 10.13% annualized return.

RPGAX

• 1D: 1.56%
• 1M: 0.06%
• YTD: 6.32%
• 6M: 6.83%
• 1Y: 15.44%
• 3Y*: 12.71%
• 5Y*: 5.66%
• 10Y*: 8.21%

VWENX

• 1D: 1.32%
• 1M: -0.63%
• YTD: 5.10%
• 6M: 5.87%
• 1Y: 17.34%
• 3Y*: 14.75%
• 5Y*: 8.43%
• 10Y*: 10.13%

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

RPGAX vs. VWENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPGAX T. Rowe Price Global Allocation Fund	6.32%	15.00%	9.65%	13.78%	-14.54%	9.17%	14.80%	20.37%	-6.89%	15.92%
VWENX Vanguard Wellington Fund Admiral Shares	5.10%	16.63%	14.82%	14.40%	-14.31%	19.09%	10.66%	22.61%	-3.35%	14.05%

Correlation

The correlation between RPGAX and VWENX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.90

The correlation between RPGAX and VWENX has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

RPGAX vs. VWENX — Risk / Return Rank

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

RPGAX

RPGAX Risk / Return Rank: 62
RPGAX Sharpe Ratio Rank: 64
RPGAX Sortino Ratio Rank: 64
RPGAX Omega Ratio Rank: 68
RPGAX Calmar Ratio Rank: 53
RPGAX Martin Ratio Rank: 62

VWENX

VWENX Risk / Return Rank: 74
VWENX Sharpe Ratio Rank: 74
VWENX Sortino Ratio Rank: 72
VWENX Omega Ratio Rank: 73
VWENX Calmar Ratio Rank: 70
VWENX Martin Ratio Rank: 81

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.

RPGAX vs. VWENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Allocation Fund (RPGAX) and Vanguard Wellington Fund Admiral Shares (VWENX). 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.

	RPGAX	VWENX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.02	-0.10
Sortino ratio: Return per unit of downside risk	2.73	2.80	-0.08
Omega ratio: Gain probability vs. loss probability	1.37	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	2.35	2.64	-0.29
Martin ratio: Return relative to average drawdown	10.09	11.92	-1.83

RPGAX vs. VWENX - Sharpe Ratio Comparison

The current RPGAX Sharpe Ratio is 1.92, which is comparable to the VWENX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of RPGAX and VWENX, 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

RPGAX vs. VWENX - Drawdown Comparison

The maximum RPGAX drawdown since its inception was -24.42%, smaller than the maximum VWENX drawdown of -36.02%. Use the drawdown chart below to compare losses from any high point for RPGAX and VWENX.

Drawdown Indicators

	RPGAX	VWENX	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-36.02%	+11.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.75%	-6.77%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-9.57%	-11.98%	+2.41%
Max Drawdown (5Y) Largest decline over 5 years	-21.79%	-20.84%	-0.95%
Max Drawdown (10Y) Largest decline over 10 years	-24.42%	-25.33%	+0.91%
Current Drawdown Current decline from peak	-1.16%	-1.92%	+0.76%
Average Drawdown Average peak-to-trough decline	-3.83%	-4.35%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.50%	+0.07%

Volatility

RPGAX vs. VWENX - Volatility Comparison

T. Rowe Price Global Allocation Fund (RPGAX) and Vanguard Wellington Fund Admiral Shares (VWENX) have volatilities of 3.41% and 3.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPGAX	VWENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	3.50%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	7.21%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	8.26%	8.83%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	11.20%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	11.56%	-1.30%

RPGAX vs. VWENX - Expense Ratio Comparison

RPGAX has a 1.01% expense ratio, which is higher than VWENX's 0.16% expense ratio.

Dividends

RPGAX vs. VWENX - Dividend Comparison

RPGAX's dividend yield for the trailing twelve months is around 6.61%, less than VWENX's 11.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPGAX T. Rowe Price Global Allocation Fund	6.61%	7.03%	5.24%	2.49%	3.15%	7.54%	1.05%	2.97%	2.52%	0.75%	0.36%	1.62%
VWENX Vanguard Wellington Fund Admiral Shares	11.05%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both RPGAX and VWENX in my portfolio?

With a correlation of 0.91, RPGAX and VWENX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RPGAX or VWENX?

VWENX has higher volatility (3.50%) compared to RPGAX (3.41%). In terms of maximum drawdown, RPGAX dropped -24.42% vs VWENX's -36.02%.

Which has better risk-adjusted returns?

VWENX currently has the higher Sharpe Ratio (2.02 vs 1.92), 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.