VFICX vs. VWEHX

Last updated Jun 24, 2026

VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) are both mutual funds - VFICX is a Total Bond Market fund managed by Vanguard, while VWEHX is a High Yield Bonds fund actively managed by Vanguard. Over the past 10 years, VFICX returned 2.59%/yr vs 5.17%/yr for VWEHX. At a 0.36 correlation, their price movements are largely independent. VFICX charges 0.20%/yr vs 0.22%/yr for VWEHX.

Performance

VFICX vs. VWEHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFICX achieves a -0.19% return, which is significantly lower than VWEHX's 0.97% return. Over the past 10 years, VFICX has underperformed VWEHX with an annualized return of 2.59%, while VWEHX has yielded a comparatively higher 5.17% annualized return.

VFICX

• 1D: -0.34%
• 1M: 0.42%
• YTD: -0.19%
• 6M: 0.33%
• 1Y: 5.07%
• 3Y*: 5.98%
• 5Y*: 1.10%
• 10Y*: 2.59%

VWEHX

• 1D: 0.00%
• 1M: 0.72%
• YTD: 0.97%
• 6M: 1.67%
• 1Y: 6.24%
• 3Y*: 8.38%
• 5Y*: 4.01%
• 10Y*: 5.17%

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

VFICX vs. VWEHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares	-0.19%	9.55%	3.21%	8.53%	-13.86%	-1.59%	10.33%	10.39%	-0.56%	4.17%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	0.97%	9.38%	6.33%	11.66%	-9.04%	2.97%	5.30%	15.81%	-2.93%	7.05%

Correlation

The correlation between VFICX and VWEHX 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	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 29, 1993	0.36

Over the past year, VFICX and VWEHX have become more correlated (0.64) than their long-term average of 0.36, meaning their price movements have been converging.

Return for Risk

VFICX vs. VWEHX — Risk / Return Rank

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

VFICX

VFICX Risk / Return Rank: 22
VFICX Sharpe Ratio Rank: 22
VFICX Sortino Ratio Rank: 24
VFICX Omega Ratio Rank: 22
VFICX Calmar Ratio Rank: 22
VFICX Martin Ratio Rank: 23

VWEHX

VWEHX Risk / Return Rank: 66
VWEHX Sharpe Ratio Rank: 53
VWEHX Sortino Ratio Rank: 78
VWEHX Omega Ratio Rank: 80
VWEHX Calmar Ratio Rank: 49
VWEHX Martin Ratio Rank: 73

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.

VFICX vs. VWEHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). 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.

	VFICX	VWEHX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.98	-0.72
Sortino ratio: Return per unit of downside risk	1.89	3.40	-1.51
Omega ratio: Gain probability vs. loss probability	1.23	1.48	-0.26
Calmar ratio: Return relative to maximum drawdown	1.60	2.56	-0.96
Martin ratio: Return relative to average drawdown	5.18	12.93	-7.75

VFICX vs. VWEHX - Sharpe Ratio Comparison

The current VFICX Sharpe Ratio is 1.25, which is lower than the VWEHX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of VFICX and VWEHX, 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

VFICX vs. VWEHX - Drawdown Comparison

The maximum VFICX drawdown since its inception was -20.24%, smaller than the maximum VWEHX drawdown of -30.17%. Use the drawdown chart below to compare losses from any high point for VFICX and VWEHX.

Drawdown Indicators

	VFICX	VWEHX	Difference
Max Drawdown Largest peak-to-trough decline	-20.24%	-30.17%	+9.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-2.52%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-6.10%	-3.33%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-20.24%	-13.83%	-6.41%
Max Drawdown (10Y) Largest decline over 10 years	-20.24%	-19.69%	-0.55%
Current Drawdown Current decline from peak	-1.66%	-0.18%	-1.48%
Average Drawdown Average peak-to-trough decline	-2.49%	-4.29%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.50%	+0.53%

Volatility

VFICX vs. VWEHX - Volatility Comparison

Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) has a higher volatility of 1.33% compared to Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) at 0.86%. This indicates that VFICX's price experiences larger fluctuations and is considered to be riskier than VWEHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFICX	VWEHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	0.86%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	3.24%	2.60%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	3.27%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	4.91%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.20%	5.26%	-0.06%

VFICX vs. VWEHX - Expense Ratio Comparison

VFICX has a 0.20% expense ratio, which is lower than VWEHX'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

VFICX vs. VWEHX - Dividend Comparison

VFICX's dividend yield for the trailing twelve months is around 5.01%, less than VWEHX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares	5.01%	4.81%	4.57%	3.81%	3.09%	3.53%	5.70%	3.03%	3.20%	2.96%	3.84%	3.54%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	6.27%	6.15%	6.11%	5.68%	5.11%	3.43%	4.62%	5.24%	5.94%	5.29%	5.41%	6.42%

Frequently Asked Questions

Can I hold both VFICX and VWEHX in my portfolio?

VFICX and VWEHX 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, VFICX or VWEHX?

VFICX has higher volatility (1.33%) compared to VWEHX (0.86%). In terms of maximum drawdown, VFICX dropped -20.24% vs VWEHX's -30.17%.

Which has better risk-adjusted returns?

VWEHX currently has the higher Sharpe Ratio (1.98 vs 1.25), 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.