VTINX vs. VWELX

Last updated Jun 4, 2026

VTINX (Vanguard Target Retirement Income Fund) and VWELX (Vanguard Wellington Fund Investor Shares) are both Diversified Portfolio funds from Vanguard. Over the past 10 years, VTINX returned 5.33%/yr vs 10.20%/yr for VWELX. Their correlation of 0.86 suggests significant overlap in exposure. VTINX charges 0.08%/yr vs 0.24%/yr for VWELX.

Performance

VTINX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement Income Fund (VTINX) and Vanguard Wellington Fund Investor Shares (VWELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTINX achieves a 4.69% return, which is significantly lower than VWELX's 7.11% return. Over the past 10 years, VTINX has underperformed VWELX with an annualized return of 5.33%, while VWELX has yielded a comparatively higher 10.20% annualized return.

VTINX

• 1D: 0.14%
• 1M: 2.12%
• YTD: 4.69%
• 6M: 4.90%
• 1Y: 12.16%
• 3Y*: 9.49%
• 5Y*: 4.28%
• 10Y*: 5.33%

VWELX

• 1D: 0.06%
• 1M: 3.86%
• YTD: 7.11%
• 6M: 7.36%
• 1Y: 21.02%
• 3Y*: 15.61%
• 5Y*: 8.97%
• 10Y*: 10.20%

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

VTINX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTINX Vanguard Target Retirement Income Fund	4.69%	11.31%	6.66%	10.66%	-12.75%	5.24%	10.02%	13.16%	-1.98%	7.46%
VWELX Vanguard Wellington Fund Investor Shares	7.11%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between VTINX and VWELX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 28, 2003	0.86

The correlation between VTINX and VWELX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

VTINX vs. VWELX - Sectors Allocation Comparison

Sectors	VTINX	VWELX
Technology	27.4%	31.8%
Financial Services	16.1%	10.6%
Industrials	12.3%	8.5%
Consumer Cyclical	9.4%	10.9%
Healthcare	8.3%	9.8%
Communication Services	8.0%	12.3%
Consumer Defensive	4.8%	4.4%
Energy	4.3%	4.4%
Basic Materials	4.3%	2.1%
Utilities	2.7%	2.5%
Real Estate	2.5%	2.6%

Return for Risk

VTINX vs. VWELX — Risk / Return Rank

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

VTINX

VTINX Risk / Return Rank: 72
VTINX Sharpe Ratio Rank: 76
VTINX Sortino Ratio Rank: 78
VTINX Omega Ratio Rank: 77
VTINX Calmar Ratio Rank: 60
VTINX Martin Ratio Rank: 68

VWELX

VWELX Risk / Return Rank: 74
VWELX Sharpe Ratio Rank: 78
VWELX Sortino Ratio Rank: 75
VWELX Omega Ratio Rank: 73
VWELX Calmar Ratio Rank: 68
VWELX Martin Ratio Rank: 78

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.

VTINX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement Income Fund (VTINX) 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.

	VTINX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.56	-0.04
Sortino ratio: Return per unit of downside risk	3.70	3.60	+0.10
Omega ratio: Gain probability vs. loss probability	1.50	1.48	+0.02
Calmar ratio: Return relative to maximum drawdown	2.97	3.17	-0.20
Martin ratio: Return relative to average drawdown	13.09	14.69	-1.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTINX vs. VWELX - Sharpe Ratio Comparison

The current VTINX Sharpe Ratio is 2.52, which is comparable to the VWELX Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of VTINX and VWELX, 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

	VTINX	VWELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.56	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.81	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.89	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.84	+0.09

Drawdowns

VTINX vs. VWELX - Drawdown Comparison

The maximum VTINX drawdown since its inception was -19.96%, smaller than the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VTINX and VWELX.

Drawdown Indicators

	VTINX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-36.12%	+16.16%
Max Drawdown (1Y) Largest decline over 1 year	-4.14%	-6.78%	+2.64%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	-11.98%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-17.02%	-20.88%	+3.86%
Max Drawdown (10Y) Largest decline over 10 years	-17.02%	-25.33%	+8.31%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.20%	-3.92%	+1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.46%	-0.52%

Volatility

VTINX vs. VWELX - Volatility Comparison

The current volatility for Vanguard Target Retirement Income Fund (VTINX) is 1.77%, while Vanguard Wellington Fund Investor Shares (VWELX) has a volatility of 2.52%. This indicates that VTINX experiences smaller price fluctuations and is considered to be less risky than VWELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTINX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	2.52%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	4.02%	6.67%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	4.88%	8.38%	-3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	11.13%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.73%	11.53%	-5.80%

VTINX vs. VWELX - Expense Ratio Comparison

VTINX 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

VTINX vs. VWELX - Dividend Comparison

VTINX's dividend yield for the trailing twelve months is around 4.80%, less than VWELX's 10.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTINX Vanguard Target Retirement Income Fund	4.80%	5.02%	5.89%	4.01%	3.08%	8.63%	3.42%	2.62%	4.19%	1.56%	2.27%	3.53%
VWELX Vanguard Wellington Fund Investor Shares	10.76%	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

Can I hold both VTINX and VWELX in my portfolio?

VTINX and VWELX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTINX or VWELX?

VWELX has higher volatility (2.52%) compared to VTINX (1.77%). In terms of maximum drawdown, VTINX dropped -19.96% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VWELX currently has the higher Sharpe Ratio (2.56 vs 2.52), 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.