VSPMX vs. VWELX
VSPMX (Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - VSPMX is a Mid Cap Blend Equities fund managed by Vanguard, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, VSPMX returned 10.86%/yr vs 9.70%/yr for VWELX. Their correlation of 0.82 means they have usually moved in the same direction. VSPMX charges 0.08%/yr vs 0.24%/yr for VWELX.
Performance
VSPMX vs. VWELX - Performance Comparison
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Returns By Period
In the year-to-date period, VSPMX achieves a 14.75% return, which is significantly higher than VWELX's 4.88% return. Over the past 10 years, VSPMX has outperformed VWELX with an annualized return of 10.86%, while VWELX has yielded a comparatively lower 9.70% annualized return.
VSPMX
- 1D
- 0.81%
- 1M
- -0.93%
- 6M
- 10.29%
- YTD
- 14.75%
- 1Y
- 22.95%
- 3Y*
- 12.85%
- 5Y*
- 8.38%
- 10Y*
- 10.86%
- ALL TIME*
- 12.05%
VWELX
- 1D
- 1.44%
- 1M
- -1.15%
- 6M
- 4.06%
- YTD
- 4.88%
- 1Y
- 13.65%
- 3Y*
- 13.46%
- 5Y*
- 7.70%
- 10Y*
- 9.70%
- ALL TIME*
- 9.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VSPMX vs. VWELX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | 14.75% | 7.11% | 12.83% | 17.42% | -13.12% | 24.66% | 13.53% | 26.12% | -11.14% | 16.18% |
VWELX Vanguard Wellington Fund Investor Shares | 4.88% | 16.54% | 14.73% | 14.29% | -14.36% | 18.99% | 10.57% | 22.51% | -3.43% | 13.98% |
Correlation
The correlation between VSPMX and VWELX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.82 |
The correlation between VSPMX and VWELX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
VSPMX vs. VWELX — Risk / Return Rank
VSPMX
VWELX
VSPMX vs. VWELX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) 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.
| VSPMX | VWELX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 1.88 | +0.38 |
| Martin ratioReturn relative to average drawdown | 8.23 | 7.96 | +0.27 |
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Drawdowns
VSPMX vs. VWELX - Drawdown Comparison
The maximum VSPMX drawdown since its inception was -42.04%, which is greater than VWELX's maximum drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VSPMX and VWELX.
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Drawdown Indicators
| VSPMX | VWELX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.04% | -36.12% | -5.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.82% | -6.78% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -24.27% | -11.98% | -12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.27% | -20.88% | -3.39% |
Max Drawdown (10Y)Largest decline over 10 years | -42.04% | -25.33% | -16.71% |
Current DrawdownCurrent decline from peak | -2.19% | -2.09% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -3.91% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 1.60% | +0.83% |
Volatility
VSPMX vs. VWELX - Volatility Comparison
Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) has a higher volatility of 3.48% compared to Vanguard Wellington Fund Investor Shares (VWELX) at 2.81%. This indicates that VSPMX'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.
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Volatility by Period
| VSPMX | VWELX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 2.81% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 7.60% | +3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.66% | 9.31% | +6.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 11.26% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 11.55% | +9.42% |
VSPMX vs. VWELX - Expense Ratio Comparison
VSPMX has a 0.08% 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
VSPMX vs. VWELX - Dividend Comparison
VSPMX's dividend yield for the trailing twelve months is around 1.22%, less than VWELX's 11.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | 1.22% | 1.07% | 1.32% | 1.26% | 1.59% | 1.15% | 1.24% | 1.49% | 1.64% | 1.27% | 1.54% | 1.52% |
VWELX Vanguard Wellington Fund Investor Shares | 11.03% | 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
VSPMX and VWELX 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.
VSPMX has higher volatility (3.48%) compared to VWELX (2.81%). In terms of maximum drawdown, VSPMX dropped -42.04% vs VWELX's -36.12%.
VWELX currently has the higher Sharpe Ratio (1.37 vs 1.27), 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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