VLSMX vs. VWINX

Last updated Jun 4, 2026

VLSMX (VALIC Company I Moderate Growth Lifestyle Fund) and VWINX (Vanguard Wellesley Income Fund Investor Shares) are both Diversified Portfolio funds. Over the past 3 years, VLSMX returned 12.41%/yr vs 8.86%/yr for VWINX. Their correlation of 0.80 suggests significant overlap in exposure. VLSMX charges 0.12%/yr vs 0.23%/yr for VWINX.

Performance

VLSMX vs. VWINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Moderate Growth Lifestyle Fund (VLSMX) 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, VLSMX achieves a 6.24% return, which is significantly higher than VWINX's 3.55% return.

VLSMX

• 1D: 0.19%
• 1M: 3.15%
• YTD: 6.24%
• 6M: 6.50%
• 1Y: 17.01%
• 3Y*: 12.41%
• 5Y*: —
• 10Y*: —

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)

VLSMX vs. VWINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VLSMX VALIC Company I Moderate Growth Lifestyle Fund	6.24%	11.90%	10.83%	13.95%	-14.66%	3.57%
VWINX Vanguard Wellesley Income Fund Investor Shares	3.55%	10.98%	5.86%	6.99%	-9.09%	3.15%

Correlation

The correlation between VLSMX and VWINX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 16, 2021	0.80

The correlation between VLSMX and VWINX has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

Return for Risk

VLSMX vs. VWINX — Risk / Return Rank

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

VLSMX

VLSMX Risk / Return Rank: 61
VLSMX Sharpe Ratio Rank: 63
VLSMX Sortino Ratio Rank: 67
VLSMX Omega Ratio Rank: 61
VLSMX Calmar Ratio Rank: 53
VLSMX Martin Ratio Rank: 63

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.

VLSMX vs. VWINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Moderate Growth Lifestyle Fund (VLSMX) 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.

	VLSMX	VWINX	Difference
Sharpe ratio Return per unit of total volatility	2.34	2.29	+0.05
Sortino ratio Return per unit of downside risk	3.44	3.30	+0.13
Omega ratio Gain probability vs. loss probability	1.44	1.42	+0.01
Calmar ratio Return relative to maximum drawdown	2.78	2.81	-0.03
Martin ratio Return relative to average drawdown	12.36	10.57	+1.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLSMX vs. VWINX - Sharpe Ratio Comparison

The current VLSMX Sharpe Ratio is 2.34, which is comparable to the VWINX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VLSMX 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

	VLSMX	VWINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.29	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	1.08	-0.49

Drawdowns

VLSMX vs. VWINX - Drawdown Comparison

The maximum VLSMX drawdown since its inception was -20.09%, smaller than the maximum VWINX drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for VLSMX and VWINX.

Drawdown Indicators

	VLSMX	VWINX	Difference
Max Drawdown Largest peak-to-trough decline	-20.09%	-21.72%	+1.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-4.16%	-2.13%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-6.98%	-4.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.43%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.20%	-2.63%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	1.10%	+0.31%

Volatility

VLSMX vs. VWINX - Volatility Comparison

VALIC Company I Moderate Growth Lifestyle Fund (VLSMX) has a higher volatility of 2.46% compared to Vanguard Wellesley Income Fund Investor Shares (VWINX) at 1.64%. This indicates that VLSMX's price experiences larger fluctuations and is considered to be riskier than VWINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLSMX	VWINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	1.64%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	6.09%	3.89%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	7.47%	5.09%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.90%	6.97%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.90%	6.92%	+2.98%

VLSMX vs. VWINX - Expense Ratio Comparison

VLSMX has a 0.12% expense ratio, which is lower than VWINX's 0.23% 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

VLSMX vs. VWINX - Dividend Comparison

VLSMX's dividend yield for the trailing twelve months is around 6.03%, less than VWINX's 7.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLSMX VALIC Company I Moderate Growth Lifestyle Fund	6.03%	0.00%	2.12%	11.91%	9.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 VLSMX and VWINX in my portfolio?

VLSMX and VWINX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLSMX or VWINX?

VLSMX has higher volatility (2.46%) compared to VWINX (1.64%). In terms of maximum drawdown, VLSMX dropped -20.09% vs VWINX's -21.72%.

Which has better risk-adjusted returns?

VLSMX currently has the higher Sharpe Ratio (2.34 vs 2.29), 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.