VGYAX vs. VWIAX
VGYAX (Vanguard Global Wellesley Income Fund Admiral Shares) and VWIAX (Vanguard Wellesley Income Fund Admiral Shares) are both Diversified Portfolio funds from Vanguard. Over the past 5 years, VGYAX returned 5.18%/yr vs 4.22%/yr for VWIAX. Their correlation of 0.91 suggests significant overlap in exposure. VGYAX charges 0.28%/yr vs 0.16%/yr for VWIAX.
Performance
VGYAX vs. VWIAX - Performance Comparison
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Returns By Period
In the year-to-date period, VGYAX achieves a 4.40% return, which is significantly higher than VWIAX's 3.19% return.
VGYAX
- 1D
- -0.07%
- 1M
- 0.28%
- YTD
- 4.40%
- 6M
- 4.36%
- 1Y
- 10.93%
- 3Y*
- 9.91%
- 5Y*
- 5.18%
- 10Y*
- —
VWIAX
- 1D
- -0.22%
- 1M
- 0.24%
- YTD
- 3.19%
- 6M
- 3.02%
- 1Y
- 9.79%
- 3Y*
- 8.73%
- 5Y*
- 4.22%
- 10Y*
- 5.88%
VGYAX vs. VWIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGYAX Vanguard Global Wellesley Income Fund Admiral Shares | 4.40% | 13.31% | 6.15% | 8.95% | -8.06% | 6.58% | 5.52% | 13.92% | -4.31% | 0.98% |
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 3.19% | 11.08% | 5.92% | 7.07% | -9.04% | 8.55% | 8.52% | 16.47% | -2.49% | 1.40% |
Correlation
The correlation between VGYAX and VWIAX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017 | 0.91 |
The correlation between VGYAX and VWIAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
VGYAX vs. VWIAX — Risk / Return Rank
VGYAX
VWIAX
VGYAX vs. VWIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Wellesley Income Fund Admiral Shares (VGYAX) 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.
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.
| VGYAX | VWIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.47 | 0.00 |
| Martin ratioReturn relative to average drawdown | 9.29 | 9.28 | +0.01 |
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Drawdowns
VGYAX vs. VWIAX - Drawdown Comparison
The maximum VGYAX drawdown since its inception was -17.71%, smaller than the maximum VWIAX drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for VGYAX and VWIAX.
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Drawdown Indicators
| VGYAX | VWIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.71% | -21.64% | +3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -4.15% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -6.96% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | -15.26% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.41% | — |
Current DrawdownCurrent decline from peak | -0.54% | -0.57% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.64% | -2.21% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.10% | +0.11% |
Volatility
VGYAX vs. VWIAX - Volatility Comparison
Vanguard Global Wellesley Income Fund Admiral Shares (VGYAX) and Vanguard Wellesley Income Fund Admiral Shares (VWIAX) have volatilities of 1.53% and 1.61%, 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.
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Volatility by Period
| VGYAX | VWIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.61% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 3.95% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.20% | 5.24% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.27% | 6.99% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 6.94% | -0.16% |
VGYAX vs. VWIAX - Expense Ratio Comparison
VGYAX has a 0.28% expense ratio, which is higher than VWIAX's 0.16% expense ratio.
Dividends
VGYAX vs. VWIAX - Dividend Comparison
VGYAX's dividend yield for the trailing twelve months is around 3.97%, less than VWIAX's 7.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGYAX Vanguard Global Wellesley Income Fund Admiral Shares | 3.97% | 4.01% | 3.90% | 3.15% | 1.54% | 2.40% | 1.99% | 2.26% | 4.36% | 0.30% | 0.00% | 0.00% |
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 7.87% | 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
With a correlation of 0.91, VGYAX and VWIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VWIAX has higher volatility (1.61%) compared to VGYAX (1.53%). In terms of maximum drawdown, VGYAX dropped -17.71% vs VWIAX's -21.64%.
VGYAX currently has the higher Sharpe Ratio (2.17 vs 1.96), 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.
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