TRMCX vs. VWNDX

Last updated Jun 24, 2026

TRMCX (T. Rowe Price Mid-Cap Value Fund) and VWNDX (Vanguard Windsor Fund Investor Shares) are both mutual funds - TRMCX is a Mid Cap Value Equities fund managed by T. Rowe Price, while VWNDX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, TRMCX returned 12.06%/yr vs 12.25%/yr for VWNDX. Their correlation of 0.92 suggests significant overlap in exposure. TRMCX charges 0.77%/yr vs 0.30%/yr for VWNDX.

Performance

TRMCX vs. VWNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Mid-Cap Value Fund (TRMCX) and Vanguard Windsor Fund Investor Shares (VWNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRMCX achieves a 18.18% return, which is significantly higher than VWNDX's 7.02% return. Both investments have delivered pretty close results over the past 10 years, with TRMCX having a 12.06% annualized return and VWNDX not far ahead at 12.25%.

TRMCX

• 1D: 0.24%
• 1M: 3.23%
• YTD: 18.18%
• 6M: 17.06%
• 1Y: 29.61%
• 3Y*: 18.35%
• 5Y*: 11.67%
• 10Y*: 12.06%

VWNDX

• 1D: -0.13%
• 1M: 0.49%
• YTD: 7.02%
• 6M: 6.25%
• 1Y: 19.62%
• 3Y*: 13.96%
• 5Y*: 9.80%
• 10Y*: 12.25%

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

TRMCX vs. VWNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRMCX T. Rowe Price Mid-Cap Value Fund	18.18%	6.16%	16.21%	18.99%	-4.16%	24.51%	9.84%	19.59%	-10.66%	11.59%
VWNDX Vanguard Windsor Fund Investor Shares	7.02%	13.30%	9.53%	15.00%	-3.15%	27.77%	7.38%	30.39%	-12.48%	18.15%

Correlation

The correlation between TRMCX and VWNDX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 28, 1996	0.92

The correlation between TRMCX and VWNDX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

TRMCX vs. VWNDX — Risk / Return Rank

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

TRMCX

TRMCX Risk / Return Rank: 66
TRMCX Sharpe Ratio Rank: 62
TRMCX Sortino Ratio Rank: 66
TRMCX Omega Ratio Rank: 54
TRMCX Calmar Ratio Rank: 77
TRMCX Martin Ratio Rank: 69

VWNDX

VWNDX Risk / Return Rank: 42
VWNDX Sharpe Ratio Rank: 38
VWNDX Sortino Ratio Rank: 38
VWNDX Omega Ratio Rank: 35
VWNDX Calmar Ratio Rank: 50
VWNDX 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.

TRMCX vs. VWNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Mid-Cap Value Fund (TRMCX) and Vanguard Windsor Fund Investor Shares (VWNDX). 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.

	TRMCX	VWNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.64	+0.49
Sortino ratio: Return per unit of downside risk	3.10	2.39	+0.71
Omega ratio: Gain probability vs. loss probability	1.37	1.29	+0.08
Calmar ratio: Return relative to maximum drawdown	3.30	2.60	+0.69
Martin ratio: Return relative to average drawdown	12.48	9.18	+3.30

TRMCX vs. VWNDX - Sharpe Ratio Comparison

The current TRMCX Sharpe Ratio is 2.13, which is comparable to the VWNDX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TRMCX and VWNDX, 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

TRMCX vs. VWNDX - Drawdown Comparison

The maximum TRMCX drawdown since its inception was -55.28%, smaller than the maximum VWNDX drawdown of -61.48%. Use the drawdown chart below to compare losses from any high point for TRMCX and VWNDX.

Drawdown Indicators

	TRMCX	VWNDX	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-61.48%	+6.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-7.88%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-29.60%	-21.69%	-7.91%
Max Drawdown (5Y) Largest decline over 5 years	-29.60%	-21.69%	-7.91%
Max Drawdown (10Y) Largest decline over 10 years	-39.41%	-40.12%	+0.71%
Current Drawdown Current decline from peak	0.00%	-1.98%	+1.98%
Average Drawdown Average peak-to-trough decline	-6.63%	-8.91%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.23%	+0.25%

Volatility

TRMCX vs. VWNDX - Volatility Comparison

T. Rowe Price Mid-Cap Value Fund (TRMCX) has a higher volatility of 4.76% compared to Vanguard Windsor Fund Investor Shares (VWNDX) at 3.62%. This indicates that TRMCX's price experiences larger fluctuations and is considered to be riskier than VWNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRMCX	VWNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	3.62%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	9.07%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.60%	12.53%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	17.33%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	19.65%	+0.02%

TRMCX vs. VWNDX - Expense Ratio Comparison

TRMCX has a 0.77% expense ratio, which is higher than VWNDX's 0.30% expense ratio.

Dividends

TRMCX vs. VWNDX - Dividend Comparison

TRMCX's dividend yield for the trailing twelve months is around 4.59%, less than VWNDX's 7.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRMCX T. Rowe Price Mid-Cap Value Fund	4.59%	5.43%	14.20%	7.65%	13.92%	9.22%	3.79%	4.25%	12.13%	6.58%	6.74%	11.39%
VWNDX Vanguard Windsor Fund Investor Shares	7.16%	7.78%	12.48%	8.24%	15.38%	11.46%	8.37%	10.26%	13.15%	3.51%	4.89%	8.51%

Frequently Asked Questions

Can I hold both TRMCX and VWNDX in my portfolio?

TRMCX and VWNDX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRMCX or VWNDX?

TRMCX has higher volatility (4.76%) compared to VWNDX (3.62%). In terms of maximum drawdown, TRMCX dropped -55.28% vs VWNDX's -61.48%.

Which has better risk-adjusted returns?

TRMCX currently has the higher Sharpe Ratio (2.13 vs 1.64), 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.