USBLX vs. VWINX

Last updated Jun 25, 2026

USBLX (USAA Growth and Tax Strategy Fund) and VWINX (Vanguard Wellesley Income Fund Investor Shares) are both Diversified Portfolio funds. Over the past 10 years, USBLX returned 8.20%/yr vs 5.82%/yr for VWINX. A 0.73 correlation means they provide meaningful diversification when combined. USBLX charges 0.58%/yr vs 0.22%/yr for VWINX.

Performance

USBLX vs. VWINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Growth and Tax Strategy Fund (USBLX) and Vanguard Wellesley Income Fund Investor Shares (VWINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USBLX achieves a 5.42% return, which is significantly higher than VWINX's 3.23% return. Over the past 10 years, USBLX has outperformed VWINX with an annualized return of 8.20%, while VWINX has yielded a comparatively lower 5.82% annualized return.

USBLX

• 1D: -0.73%
• 1M: 0.40%
• YTD: 5.42%
• 6M: 4.83%
• 1Y: 14.59%
• 3Y*: 12.14%
• 5Y*: 6.48%
• 10Y*: 8.20%

VWINX

• 1D: 0.08%
• 1M: 0.30%
• YTD: 3.23%
• 6M: 2.74%
• 1Y: 9.27%
• 3Y*: 8.68%
• 5Y*: 4.10%
• 10Y*: 5.82%

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

USBLX vs. VWINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBLX USAA Growth and Tax Strategy Fund	5.42%	10.30%	13.32%	16.10%	-15.82%	14.80%	10.78%	18.46%	-1.95%	13.48%
VWINX Vanguard Wellesley Income Fund Investor Shares	3.23%	10.98%	5.86%	6.99%	-9.09%	8.48%	8.44%	16.39%	-2.54%	9.29%

Correlation

The correlation between USBLX and VWINX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 11, 1989	0.73

The correlation between USBLX and VWINX has been stable across timeframes, ranging from 0.63 to 0.73 - a consistent structural relationship.

Return for Risk

USBLX vs. VWINX — Risk / Return Rank

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

USBLX

USBLX Risk / Return Rank: 75
USBLX Sharpe Ratio Rank: 78
USBLX Sortino Ratio Rank: 77
USBLX Omega Ratio Rank: 75
USBLX Calmar Ratio Rank: 66
USBLX Martin Ratio Rank: 82

VWINX

VWINX Risk / Return Rank: 46
VWINX Sharpe Ratio Rank: 49
VWINX Sortino Ratio Rank: 49
VWINX Omega Ratio Rank: 47
VWINX Calmar Ratio Rank: 42
VWINX Martin Ratio Rank: 44

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.

USBLX vs. VWINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Growth and Tax Strategy Fund (USBLX) 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.

	USBLX	VWINX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.89	+0.46
Sortino ratio: Return per unit of downside risk	3.33	2.73	+0.60
Omega ratio: Gain probability vs. loss probability	1.44	1.34	+0.10
Calmar ratio: Return relative to maximum drawdown	2.93	2.36	+0.57
Martin ratio: Return relative to average drawdown	14.07	8.87	+5.20

USBLX vs. VWINX - Sharpe Ratio Comparison

The current USBLX Sharpe Ratio is 2.35, which is comparable to the VWINX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of USBLX and VWINX, 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

USBLX vs. VWINX - Drawdown Comparison

The maximum USBLX drawdown since its inception was -33.49%, which is greater than VWINX's maximum drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for USBLX and VWINX.

Drawdown Indicators

	USBLX	VWINX	Difference
Max Drawdown Largest peak-to-trough decline	-33.49%	-21.72%	-11.77%
Max Drawdown (1Y) Largest decline over 1 year	-5.24%	-4.16%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-11.66%	-6.98%	-4.68%
Max Drawdown (5Y) Largest decline over 5 years	-20.51%	-15.30%	-5.21%
Max Drawdown (10Y) Largest decline over 10 years	-21.93%	-17.43%	-4.50%
Current Drawdown Current decline from peak	-1.20%	-0.51%	-0.69%
Average Drawdown Average peak-to-trough decline	-4.29%	-2.63%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.11%	-0.02%

Volatility

USBLX vs. VWINX - Volatility Comparison

USAA Growth and Tax Strategy Fund (USBLX) has a higher volatility of 2.50% compared to Vanguard Wellesley Income Fund Investor Shares (VWINX) at 1.60%. This indicates that USBLX's price experiences larger fluctuations and is considered to be riskier than VWINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBLX	VWINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	1.60%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	5.27%	3.93%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	5.20%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.70%	6.99%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.11%	6.92%	+2.19%

USBLX vs. VWINX - Expense Ratio Comparison

USBLX has a 0.58% expense ratio, which is higher than VWINX's 0.22% expense ratio.

Dividends

USBLX vs. VWINX - Dividend Comparison

USBLX's dividend yield for the trailing twelve months is around 2.26%, less than VWINX's 7.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBLX USAA Growth and Tax Strategy Fund	2.26%	1.96%	2.28%	2.11%	1.74%	1.66%	1.88%	1.95%	2.73%	2.16%	2.31%	2.69%
VWINX Vanguard Wellesley Income Fund Investor Shares	7.79%	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

Can I hold both USBLX and VWINX in my portfolio?

USBLX and VWINX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBLX or VWINX?

USBLX has higher volatility (2.50%) compared to VWINX (1.60%). In terms of maximum drawdown, USBLX dropped -33.49% vs VWINX's -21.72%.

Which has better risk-adjusted returns?

USBLX currently has the higher Sharpe Ratio (2.35 vs 1.89), 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.