VEDTX vs. VWELX

Last updated Aug 5, 2026

VEDTX (Vanguard Extended Duration Treasury Index Fund) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - VEDTX is a Government Bonds fund managed by Vanguard, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, VEDTX returned -4.45%/yr vs 9.82%/yr for VWELX. Their -0.13 correlation means they have often moved in opposite directions in the past. VEDTX charges 0.06%/yr vs 0.24%/yr for VWELX.

Performance

VEDTX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Wellington Fund Investor Shares (VWELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEDTX achieves a -6.16% return, which is significantly lower than VWELX's 6.44% return. Over the past 10 years, VEDTX has underperformed VWELX with an annualized return of -4.45%, while VWELX has yielded a comparatively higher 9.82% annualized return.

VEDTX

• 1D: 0.45%
• 1M: -6.26%
• 6M: -5.44%
• YTD: -6.16%
• 1Y: -5.84%
• 3Y*: -4.61%
• 5Y*: -12.86%
• 10Y*: -4.45%
• ALL TIME*: 2.08%

VWELX

• 1D: 1.01%
• 1M: 0.32%
• 6M: 5.82%
• YTD: 6.44%
• 1Y: 14.16%
• 3Y*: 14.69%
• 5Y*: 8.00%
• 10Y*: 9.82%
• ALL TIME*: 9.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VEDTX Vanguard Extended Duration Treasury Index Fund	$0.00	$0.00	$0.00
VWELX Vanguard Wellington Fund Investor Shares	$0.00	$0.00	$0.00

VEDTX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEDTX Vanguard Extended Duration Treasury Index Fund	-6.16%	1.34%	-13.35%	2.15%	-39.40%	-6.52%	24.20%	19.16%	-3.50%	12.69%
VWELX Vanguard Wellington Fund Investor Shares	6.44%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between VEDTX and VWELX is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.25
Correlation (10Y) Provides a long-term view across more market conditions.	0.06
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	-0.13

The correlation between VEDTX and VWELX shifts across timeframes, from -0.13 (all time) to 0.31 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VEDTX vs. VWELX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VEDTX

VEDTX Risk / Return Rank: 1
VEDTX Sharpe Ratio Rank: 1
VEDTX Sortino Ratio Rank: 1
VEDTX Omega Ratio Rank: 1
VEDTX Calmar Ratio Rank: 1
VEDTX Martin Ratio Rank: 1

VWELX

VWELX Risk / Return Rank: 64
VWELX Sharpe Ratio Rank: 63
VWELX Sortino Ratio Rank: 61
VWELX Omega Ratio Rank: 60
VWELX Calmar Ratio Rank: 62
VWELX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VEDTX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Wellington Fund Investor Shares (VWELX). 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.

	VEDTX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	1.65	-2.04
Sortino ratio: Return per unit of downside risk	-0.46	2.34	-2.80
Omega ratio: Gain probability vs. loss probability	0.95	1.30	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.42	2.27	-2.69
Martin ratio: Return relative to average drawdown	-0.87	9.60	-10.47

VEDTX vs. VWELX - Sharpe Ratio Comparison

The current VEDTX Sharpe Ratio is -0.39, which is lower than the VWELX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of VEDTX and VWELX, 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

VEDTX vs. VWELX - Drawdown Comparison

The maximum VEDTX drawdown since its inception was -60.00%, which is greater than VWELX's maximum drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VEDTX and VWELX.

Drawdown Indicators

	VEDTX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-60.00%	-36.12%	-23.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-6.78%	-6.34%
Max Drawdown (3Y) Largest decline over 3 years	-22.83%	-11.98%	-10.85%
Max Drawdown (5Y) Largest decline over 5 years	-55.15%	-20.88%	-34.27%
Max Drawdown (10Y) Largest decline over 10 years	-60.00%	-25.33%	-34.67%
Current Drawdown Current decline from peak	-56.86%	-0.63%	-56.23%
Average Drawdown Average peak-to-trough decline	-23.76%	-3.91%	-19.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.29%	1.60%	+4.69%

Volatility

VEDTX vs. VWELX - Volatility Comparison

Vanguard Extended Duration Treasury Index Fund (VEDTX) has a higher volatility of 4.07% compared to Vanguard Wellington Fund Investor Shares (VWELX) at 3.01%. This indicates that VEDTX's price experiences larger fluctuations and is considered to be riskier than VWELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEDTX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.01%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	10.30%	7.67%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	9.35%	+4.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.78%	11.27%	+10.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.03%	11.56%	+8.47%

VEDTX vs. VWELX - Expense Ratio Comparison

VEDTX has a 0.06% expense ratio, which is lower than VWELX's 0.24% 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

VEDTX vs. VWELX - Dividend Comparison

VEDTX's dividend yield for the trailing twelve months is around 5.45%, less than VWELX's 10.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEDTX Vanguard Extended Duration Treasury Index Fund	5.45%	4.94%	4.68%	3.55%	3.30%	1.96%	5.56%	3.53%	2.94%	2.23%	5.34%	4.28%
VWELX Vanguard Wellington Fund Investor Shares	10.87%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%

Frequently Asked Questions

Can I hold both VEDTX and VWELX in my portfolio?

VEDTX and VWELX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEDTX or VWELX?

VEDTX has higher volatility (4.07%) compared to VWELX (3.01%). In terms of maximum drawdown, VEDTX dropped -60.00% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VWELX currently has the higher Sharpe Ratio (1.65 vs -0.39), 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.