VTIFX vs. VWIAX

Last updated Jun 23, 2026

VTIFX (Vanguard Total International Bond Index Fund Institutional Shares) and VWIAX (Vanguard Wellesley Income Fund Admiral Shares) are both mutual funds - VTIFX is a Total Bond Market fund managed by Vanguard, while VWIAX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, VTIFX returned 1.80%/yr vs 5.85%/yr for VWIAX. At a 0.34 correlation, their price movements are largely independent. VTIFX charges 0.07%/yr vs 0.16%/yr for VWIAX.

Performance

VTIFX vs. VWIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Bond Index Fund Institutional Shares (VTIFX) 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, VTIFX achieves a 1.13% return, which is significantly lower than VWIAX's 3.42% return. Over the past 10 years, VTIFX has underperformed VWIAX with an annualized return of 1.80%, while VWIAX has yielded a comparatively higher 5.85% annualized return.

VTIFX

• 1D: 0.00%
• 1M: 1.08%
• YTD: 1.13%
• 6M: 1.51%
• 1Y: 2.42%
• 3Y*: 4.50%
• 5Y*: 0.52%
• 10Y*: 1.80%

VWIAX

• 1D: 0.26%
• 1M: 0.47%
• YTD: 3.42%
• 6M: 3.35%
• 1Y: 10.46%
• 3Y*: 8.48%
• 5Y*: 4.31%
• 10Y*: 5.85%

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

VTIFX vs. VWIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTIFX Vanguard Total International Bond Index Fund Institutional Shares	1.13%	3.02%	3.91%	9.04%	-12.89%	-2.20%	4.59%	7.89%	2.99%	2.43%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	3.42%	11.08%	5.92%	7.07%	-9.04%	8.55%	8.52%	16.47%	-2.49%	9.37%

Correlation

The correlation between VTIFX and VWIAX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013	0.34

The correlation between VTIFX and VWIAX shifts across timeframes, from 0.34 (all time) to 0.54 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VTIFX vs. VWIAX — Risk / Return Rank

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

VTIFX

VTIFX Risk / Return Rank: 9
VTIFX Sharpe Ratio Rank: 10
VTIFX Sortino Ratio Rank: 10
VTIFX Omega Ratio Rank: 10
VTIFX Calmar Ratio Rank: 9
VTIFX Martin Ratio Rank: 8

VWIAX

VWIAX Risk / Return Rank: 53
VWIAX Sharpe Ratio Rank: 56
VWIAX Sortino Ratio Rank: 58
VWIAX Omega Ratio Rank: 53
VWIAX Calmar Ratio Rank: 49
VWIAX Martin Ratio Rank: 49

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.

VTIFX vs. VWIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond Index Fund Institutional Shares (VTIFX) 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.

	VTIFX	VWIAX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	2.03	-1.25
Sortino ratio: Return per unit of downside risk	1.14	2.93	-1.79
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.23
Calmar ratio: Return relative to maximum drawdown	0.83	2.56	-1.72
Martin ratio: Return relative to average drawdown	2.27	9.61	-7.34

VTIFX vs. VWIAX - Sharpe Ratio Comparison

The current VTIFX Sharpe Ratio is 0.78, which is lower than the VWIAX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VTIFX 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.

Drawdowns

VTIFX vs. VWIAX - Drawdown Comparison

The maximum VTIFX drawdown since its inception was -16.07%, smaller than the maximum VWIAX drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for VTIFX and VWIAX.

Drawdown Indicators

	VTIFX	VWIAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.07%	-21.64%	+5.57%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-4.15%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-2.88%	-6.96%	+4.08%
Max Drawdown (5Y) Largest decline over 5 years	-15.75%	-15.26%	-0.49%
Max Drawdown (10Y) Largest decline over 10 years	-16.07%	-17.41%	+1.34%
Current Drawdown Current decline from peak	-0.75%	-0.34%	-0.41%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.21%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	1.10%	-0.05%

Volatility

VTIFX vs. VWIAX - Volatility Comparison

The current volatility for Vanguard Total International Bond Index Fund Institutional Shares (VTIFX) is 1.02%, while Vanguard Wellesley Income Fund Admiral Shares (VWIAX) has a volatility of 1.63%. This indicates that VTIFX experiences smaller price fluctuations and is considered to be less risky than VWIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTIFX	VWIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	1.63%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	2.63%	3.94%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	3.08%	5.23%	-2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.45%	6.99%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	6.93%	-3.32%

VTIFX vs. VWIAX - Expense Ratio Comparison

VTIFX has a 0.07% expense ratio, which is lower than VWIAX's 0.16% 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

VTIFX vs. VWIAX - Dividend Comparison

VTIFX's dividend yield for the trailing twelve months is around 4.49%, less than VWIAX's 7.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTIFX Vanguard Total International Bond Index Fund Institutional Shares	4.49%	4.40%	4.38%	4.60%	1.52%	3.73%	1.12%	3.42%	3.03%	2.29%	1.84%	1.68%
VWIAX Vanguard Wellesley Income Fund Admiral Shares	7.85%	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 VTIFX and VWIAX in my portfolio?

VTIFX and VWIAX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTIFX or VWIAX?

VWIAX has higher volatility (1.63%) compared to VTIFX (1.02%). In terms of maximum drawdown, VTIFX dropped -16.07% vs VWIAX's -21.64%.

Which has better risk-adjusted returns?

VWIAX currently has the higher Sharpe Ratio (2.03 vs 0.78), 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.