VASIX vs. VWINX

Last updated Jun 4, 2026

VASIX (Vanguard LifeStrategy Income Fund) and VWINX (Vanguard Wellesley Income Fund Investor Shares) are both Diversified Portfolio funds from Vanguard. Over the past 10 years, VASIX returned 4.08%/yr vs 5.81%/yr for VWINX. Their correlation of 0.86 suggests significant overlap in exposure. VASIX charges 0.11%/yr vs 0.22%/yr for VWINX.

Performance

VASIX vs. VWINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard LifeStrategy Income Fund (VASIX) 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, VASIX achieves a 3.14% return, which is significantly lower than VWINX's 3.55% return. Over the past 10 years, VASIX has underperformed VWINX with an annualized return of 4.08%, while VWINX has yielded a comparatively higher 5.81% annualized return.

VASIX

• 1D: 0.12%
• 1M: 1.70%
• YTD: 3.14%
• 6M: 3.21%
• 1Y: 9.53%
• 3Y*: 8.20%
• 5Y*: 2.94%
• 10Y*: 4.08%

VWINX

• 1D: 0.31%
• 1M: 1.24%
• YTD: 3.55%
• 6M: 3.53%
• 1Y: 11.32%
• 3Y*: 8.86%
• 5Y*: 4.14%
• 10Y*: 5.81%

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

VASIX vs. VWINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VASIX Vanguard LifeStrategy Income Fund	3.14%	9.42%	6.67%	9.63%	-13.94%	1.92%	9.13%	12.05%	-1.05%	6.05%
VWINX Vanguard Wellesley Income Fund Investor Shares	3.55%	10.98%	5.86%	6.99%	-9.09%	8.48%	8.44%	16.39%	-2.54%	9.29%

Correlation

The correlation between VASIX and VWINX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 3, 1994	0.86

The correlation between VASIX and VWINX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

VASIX vs. VWINX - Sectors Allocation Comparison

Sectors	VASIX	VWINX
Technology	27.3%	4.2%
Financial Services	16.1%	7.9%
Industrials	12.4%	3.6%
Consumer Cyclical	9.4%	1.9%
Healthcare	8.3%	5.7%
Communication Services	8.0%	1.1%
Consumer Defensive	4.8%	3.6%
Energy	4.3%	3.1%
Basic Materials	4.3%	1.4%
Utilities	2.7%	3.6%
Real Estate	2.5%	1.1%

Return for Risk

VASIX vs. VWINX — Risk / Return Rank

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

VASIX

VASIX Risk / Return Rank: 53
VASIX Sharpe Ratio Rank: 55
VASIX Sortino Ratio Rank: 56
VASIX Omega Ratio Rank: 60
VASIX Calmar Ratio Rank: 42
VASIX Martin Ratio Rank: 51

VWINX

VWINX Risk / Return Rank: 57
VWINX Sharpe Ratio Rank: 61
VWINX Sortino Ratio Rank: 62
VWINX Omega Ratio Rank: 58
VWINX Calmar Ratio Rank: 54
VWINX Martin Ratio Rank: 52

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.

VASIX vs. VWINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard LifeStrategy Income Fund (VASIX) 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.

	VASIX	VWINX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.29	-0.11
Sortino ratio: Return per unit of downside risk	3.17	3.30	-0.14
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	2.47	2.81	-0.33
Martin ratio: Return relative to average drawdown	10.32	10.57	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VASIX vs. VWINX - Sharpe Ratio Comparison

The current VASIX Sharpe Ratio is 2.18, which is comparable to the VWINX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VASIX 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.

Sharpe Ratios by Period

	VASIX	VWINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	2.29	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.60	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.84	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	1.08	+0.04

Drawdowns

VASIX vs. VWINX - Drawdown Comparison

The maximum VASIX drawdown since its inception was -18.17%, smaller than the maximum VWINX drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for VASIX and VWINX.

Drawdown Indicators

	VASIX	VWINX	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-21.72%	+3.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-4.16%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-5.58%	-6.98%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.17%	-15.30%	-2.87%
Max Drawdown (10Y) Largest decline over 10 years	-18.17%	-17.43%	-0.74%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.92%	-2.63%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.10%	-0.17%

Volatility

VASIX vs. VWINX - Volatility Comparison

Vanguard LifeStrategy Income Fund (VASIX) and Vanguard Wellesley Income Fund Investor Shares (VWINX) have volatilities of 1.71% and 1.64%, 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

	VASIX	VWINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	1.64%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.65%	3.89%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	5.09%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.75%	6.97%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	6.92%	-2.00%

VASIX vs. VWINX - Expense Ratio Comparison

VASIX has a 0.11% expense ratio, which is lower than VWINX's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VASIX vs. VWINX - Dividend Comparison

VASIX's dividend yield for the trailing twelve months is around 4.11%, less than VWINX's 7.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VASIX Vanguard LifeStrategy Income Fund	4.11%	4.18%	7.61%	3.17%	2.02%	3.95%	2.15%	2.73%	3.55%	1.52%	2.26%	2.57%
VWINX Vanguard Wellesley Income Fund Investor Shares	7.68%	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 VASIX and VWINX in my portfolio?

VASIX and VWINX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VASIX or VWINX?

VASIX has higher volatility (1.71%) compared to VWINX (1.64%). In terms of maximum drawdown, VASIX dropped -18.17% vs VWINX's -21.72%.

Which has better risk-adjusted returns?

VWINX currently has the higher Sharpe Ratio (2.29 vs 2.18), 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.