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VTMFX vs. VWINX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VTMFX and VWINX is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 0.7

Performance

VTMFX vs. VWINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) and Vanguard Wellesley Income Fund Investor Shares (VWINX). The values are adjusted to include any dividend payments, if applicable.

700.00%720.00%740.00%760.00%780.00%800.00%NovemberDecember2025FebruaryMarchApril
740.71%
741.28%
VTMFX
VWINX

Key characteristics

Sharpe Ratio

VTMFX:

0.56

VWINX:

1.14

Sortino Ratio

VTMFX:

0.83

VWINX:

1.60

Omega Ratio

VTMFX:

1.12

VWINX:

1.22

Calmar Ratio

VTMFX:

0.48

VWINX:

1.46

Martin Ratio

VTMFX:

2.06

VWINX:

5.42

Ulcer Index

VTMFX:

2.49%

VWINX:

1.46%

Daily Std Dev

VTMFX:

9.07%

VWINX:

6.97%

Max Drawdown

VTMFX:

-28.49%

VWINX:

-21.72%

Current Drawdown

VTMFX:

-7.19%

VWINX:

-2.16%

Returns By Period

In the year-to-date period, VTMFX achieves a -4.72% return, which is significantly lower than VWINX's 1.40% return. Over the past 10 years, VTMFX has outperformed VWINX with an annualized return of 6.73%, while VWINX has yielded a comparatively lower 5.09% annualized return.


VTMFX

YTD

-4.72%

1M

-4.09%

6M

-3.62%

1Y

4.04%

5Y*

8.08%

10Y*

6.73%

VWINX

YTD

1.40%

1M

-1.35%

6M

-0.23%

1Y

7.69%

5Y*

4.75%

10Y*

5.09%

*Annualized

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VTMFX vs. VWINX - Expense Ratio Comparison

VTMFX has a 0.09% 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%.


Expense ratio chart for VWINX: current value is 0.23%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VWINX: 0.23%
Expense ratio chart for VTMFX: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VTMFX: 0.09%

Risk-Adjusted Performance

VTMFX vs. VWINX — Risk-Adjusted Performance Rank

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

VTMFX
The Risk-Adjusted Performance Rank of VTMFX is 6565
Overall Rank
The Sharpe Ratio Rank of VTMFX is 6565
Sharpe Ratio Rank
The Sortino Ratio Rank of VTMFX is 6363
Sortino Ratio Rank
The Omega Ratio Rank of VTMFX is 6363
Omega Ratio Rank
The Calmar Ratio Rank of VTMFX is 6969
Calmar Ratio Rank
The Martin Ratio Rank of VTMFX is 6464
Martin Ratio Rank

VWINX
The Risk-Adjusted Performance Rank of VWINX is 8484
Overall Rank
The Sharpe Ratio Rank of VWINX is 8181
Sharpe Ratio Rank
The Sortino Ratio Rank of VWINX is 8080
Sortino Ratio Rank
The Omega Ratio Rank of VWINX is 8282
Omega Ratio Rank
The Calmar Ratio Rank of VWINX is 9090
Calmar Ratio Rank
The Martin Ratio Rank of VWINX is 8787
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

VTMFX vs. VWINX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) 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.


The chart of Sharpe ratio for VTMFX, currently valued at 0.52, compared to the broader market-1.000.001.002.003.00
VTMFX: 0.52
VWINX: 1.14
The chart of Sortino ratio for VTMFX, currently valued at 0.77, compared to the broader market-2.000.002.004.006.008.00
VTMFX: 0.77
VWINX: 1.60
The chart of Omega ratio for VTMFX, currently valued at 1.11, compared to the broader market0.501.001.502.002.503.00
VTMFX: 1.11
VWINX: 1.22
The chart of Calmar ratio for VTMFX, currently valued at 0.44, compared to the broader market0.002.004.006.008.0010.00
VTMFX: 0.44
VWINX: 1.46
The chart of Martin ratio for VTMFX, currently valued at 1.85, compared to the broader market0.0010.0020.0030.0040.0050.00
VTMFX: 1.85
VWINX: 5.42

The current VTMFX Sharpe Ratio is 0.56, which is lower than the VWINX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VTMFX and VWINX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.52
1.14
VTMFX
VWINX

Dividends

VTMFX vs. VWINX - Dividend Comparison

VTMFX's dividend yield for the trailing twelve months is around 2.29%, less than VWINX's 6.66% yield.


TTM20242023202220212020201920182017201620152014
VTMFX
Vanguard Tax-Managed Balanced Fund Admiral Shares
2.29%2.08%1.94%1.85%1.38%1.73%2.06%2.22%2.00%2.13%2.06%2.00%
VWINX
Vanguard Wellesley Income Fund Investor Shares
6.66%6.61%4.73%7.67%6.03%4.30%3.94%7.56%4.00%4.00%5.60%4.92%

Drawdowns

VTMFX vs. VWINX - Drawdown Comparison

The maximum VTMFX drawdown since its inception was -28.49%, which is greater than VWINX's maximum drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for VTMFX and VWINX. For additional features, visit the drawdowns tool.


-10.00%-8.00%-6.00%-4.00%-2.00%0.00%NovemberDecember2025FebruaryMarchApril
-7.19%
-2.16%
VTMFX
VWINX

Volatility

VTMFX vs. VWINX - Volatility Comparison

Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a higher volatility of 6.08% compared to Vanguard Wellesley Income Fund Investor Shares (VWINX) at 4.51%. This indicates that VTMFX'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.


1.00%2.00%3.00%4.00%5.00%6.00%NovemberDecember2025FebruaryMarchApril
6.08%
4.51%
VTMFX
VWINX