VEIRX vs. VWIAX

Last updated Jun 4, 2026

VEIRX (Vanguard Equity Income Fund Admiral Shares) and VWIAX (Vanguard Wellesley Income Fund Admiral Shares) are both mutual funds - VEIRX is a Large Cap Value Equities fund managed by Vanguard, while VWIAX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VEIRX returned 11.95%/yr vs 5.88%/yr for VWIAX. Their correlation of 0.82 suggests significant overlap in exposure. VEIRX charges 0.19%/yr vs 0.16%/yr for VWIAX.

Performance

VEIRX vs. VWIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Equity Income Fund Admiral Shares (VEIRX) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEIRX achieves a 9.73% return, which is significantly higher than VWIAX's 3.59% return. Over the past 10 years, VEIRX has outperformed VWIAX with an annualized return of 11.95%, while VWIAX has yielded a comparatively lower 5.88% annualized return.

VEIRX

• 1D: 0.79%
• 1M: 2.95%
• YTD: 9.73%
• 6M: 9.86%
• 1Y: 23.54%
• 3Y*: 17.62%
• 5Y*: 11.11%
• 10Y*: 11.95%

VWIAX

• 1D: 0.30%
• 1M: 1.26%
• YTD: 3.59%
• 6M: 3.59%
• 1Y: 11.43%
• 3Y*: 8.94%
• 5Y*: 4.22%
• 10Y*: 5.88%

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

VEIRX vs. VWIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEIRX Vanguard Equity Income Fund Admiral Shares	9.73%	17.25%	14.91%	7.76%	-0.08%	25.49%	3.08%	25.34%	-5.68%	17.68%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	3.59%	11.08%	5.92%	7.07%	-9.04%	8.55%	8.52%	16.47%	-2.49%	9.37%

Correlation

The correlation between VEIRX and VWIAX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 14, 2001	0.82

The correlation between VEIRX and VWIAX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

VEIRX vs. VWIAX - Sectors Allocation Comparison

Sectors	VEIRX	VWIAX
Financial Services	20.5%	7.9%
Healthcare	14.8%	5.7%
Technology	13.0%	4.2%
Industrials	10.6%	3.6%
Consumer Defensive	9.4%	3.6%
Energy	8.3%	3.1%
Utilities	7.0%	3.6%
Consumer Cyclical	6.0%	1.9%
Basic Materials	3.4%	1.4%
Communication Services	2.9%	1.1%
Real Estate	1.9%	1.1%

Return for Risk

VEIRX vs. VWIAX — Risk / Return Rank

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

VEIRX

VEIRX Risk / Return Rank: 67
VEIRX Sharpe Ratio Rank: 67
VEIRX Sortino Ratio Rank: 66
VEIRX Omega Ratio Rank: 61
VEIRX Calmar Ratio Rank: 76
VEIRX Martin Ratio Rank: 66

VWIAX

VWIAX Risk / Return Rank: 58
VWIAX Sharpe Ratio Rank: 61
VWIAX Sortino Ratio Rank: 63
VWIAX Omega Ratio Rank: 58
VWIAX Calmar Ratio Rank: 55
VWIAX 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.

VEIRX vs. VWIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Admiral Shares (VEIRX) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX). 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.

	VEIRX	VWIAX	Difference
Sharpe ratio Return per unit of total volatility	2.39	2.30	+0.09
Sortino ratio Return per unit of downside risk	3.39	3.32	+0.07
Omega ratio Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio Return relative to maximum drawdown	3.44	2.84	+0.60
Martin ratio Return relative to average drawdown	12.85	10.69	+2.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEIRX vs. VWIAX - Sharpe Ratio Comparison

The current VEIRX Sharpe Ratio is 2.39, which is comparable to the VWIAX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VEIRX and VWIAX, 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

	VEIRX	VWIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.30	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.61	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.85	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.94	-0.42

Drawdowns

VEIRX vs. VWIAX - Drawdown Comparison

The maximum VEIRX drawdown since its inception was -54.02%, which is greater than VWIAX's maximum drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for VEIRX and VWIAX.

Drawdown Indicators

	VEIRX	VWIAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-21.64%	-32.38%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-4.15%	-2.98%
Max Drawdown (3Y) Largest decline over 3 years	-13.36%	-6.96%	-6.40%
Max Drawdown (5Y) Largest decline over 5 years	-15.12%	-15.26%	+0.14%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-17.41%	-17.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.50%	-2.22%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.10%	+0.81%

Volatility

VEIRX vs. VWIAX - Volatility Comparison

Vanguard Equity Income Fund Admiral Shares (VEIRX) has a higher volatility of 2.84% compared to Vanguard Wellesley Income Fund Admiral Shares (VWIAX) at 1.66%. This indicates that VEIRX's price experiences larger fluctuations and is considered to be riskier than VWIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEIRX	VWIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	1.66%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	3.90%	+3.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	5.12%	+5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	6.97%	+6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	6.92%	+9.39%

VEIRX vs. VWIAX - Expense Ratio Comparison

VEIRX has a 0.19% expense ratio, which is higher than VWIAX's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEIRX vs. VWIAX - Dividend Comparison

VEIRX's dividend yield for the trailing twelve months is around 10.12%, more than VWIAX's 7.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEIRX Vanguard Equity Income Fund Admiral Shares	10.12%	11.03%	9.83%	7.96%	8.79%	7.71%	2.86%	4.45%	10.98%	3.04%	3.87%	6.48%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	7.75%	7.93%	6.69%	4.80%	7.75%	6.11%	4.37%	4.00%	7.64%	3.25%	4.07%	5.66%

Frequently Asked Questions

Can I hold both VEIRX and VWIAX in my portfolio?

VEIRX and VWIAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEIRX or VWIAX?

VEIRX has higher volatility (2.84%) compared to VWIAX (1.66%). In terms of maximum drawdown, VEIRX dropped -54.02% vs VWIAX's -21.64%.

Which has better risk-adjusted returns?

VEIRX currently has the higher Sharpe Ratio (2.39 vs 2.30), 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.