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VTWNX vs. VHYAX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between VTWNX and VHYAX is 0.90, 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: 0.9

Performance

VTWNX vs. VHYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX). The values are adjusted to include any dividend payments, if applicable.

0.00%20.00%40.00%60.00%80.00%100.00%NovemberDecember2025FebruaryMarchApril
9.50%
80.44%
VTWNX
VHYAX

Key characteristics

Sharpe Ratio

VTWNX:

1.28

VHYAX:

0.55

Sortino Ratio

VTWNX:

1.86

VHYAX:

0.86

Omega Ratio

VTWNX:

1.25

VHYAX:

1.12

Calmar Ratio

VTWNX:

0.39

VHYAX:

0.60

Martin Ratio

VTWNX:

6.73

VHYAX:

2.57

Ulcer Index

VTWNX:

1.29%

VHYAX:

3.36%

Daily Std Dev

VTWNX:

6.78%

VHYAX:

15.86%

Max Drawdown

VTWNX:

-42.16%

VHYAX:

-35.14%

Current Drawdown

VTWNX:

-15.50%

VHYAX:

-8.02%

Returns By Period

In the year-to-date period, VTWNX achieves a 1.17% return, which is significantly higher than VHYAX's -2.64% return.


VTWNX

YTD

1.17%

1M

-0.67%

6M

0.71%

1Y

8.31%

5Y*

1.09%

10Y*

1.88%

VHYAX

YTD

-2.64%

1M

-4.44%

6M

-3.33%

1Y

7.72%

5Y*

13.49%

10Y*

N/A

*Annualized

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VTWNX vs. VHYAX - Expense Ratio Comparison

Both VTWNX and VHYAX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.


Expense ratio chart for VTWNX: current value is 0.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VTWNX: 0.08%
Expense ratio chart for VHYAX: current value is 0.08%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
VHYAX: 0.08%

Risk-Adjusted Performance

VTWNX vs. VHYAX — Risk-Adjusted Performance Rank

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

VTWNX
The Risk-Adjusted Performance Rank of VTWNX is 8080
Overall Rank
The Sharpe Ratio Rank of VTWNX is 8484
Sharpe Ratio Rank
The Sortino Ratio Rank of VTWNX is 8484
Sortino Ratio Rank
The Omega Ratio Rank of VTWNX is 8585
Omega Ratio Rank
The Calmar Ratio Rank of VTWNX is 5757
Calmar Ratio Rank
The Martin Ratio Rank of VTWNX is 8989
Martin Ratio Rank

VHYAX
The Risk-Adjusted Performance Rank of VHYAX is 6464
Overall Rank
The Sharpe Ratio Rank of VHYAX is 5959
Sharpe Ratio Rank
The Sortino Ratio Rank of VHYAX is 6060
Sortino Ratio Rank
The Omega Ratio Rank of VHYAX is 6060
Omega Ratio Rank
The Calmar Ratio Rank of VHYAX is 7373
Calmar Ratio Rank
The Martin Ratio Rank of VHYAX is 6767
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.

VTWNX vs. VHYAX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX). 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 VTWNX, currently valued at 1.28, compared to the broader market-1.000.001.002.003.00
VTWNX: 1.28
VHYAX: 0.55
The chart of Sortino ratio for VTWNX, currently valued at 1.86, compared to the broader market-2.000.002.004.006.008.00
VTWNX: 1.86
VHYAX: 0.86
The chart of Omega ratio for VTWNX, currently valued at 1.25, compared to the broader market0.501.001.502.002.503.00
VTWNX: 1.25
VHYAX: 1.12
The chart of Calmar ratio for VTWNX, currently valued at 0.39, compared to the broader market0.002.004.006.008.0010.00
VTWNX: 0.39
VHYAX: 0.60
The chart of Martin ratio for VTWNX, currently valued at 6.73, compared to the broader market0.0010.0020.0030.0040.0050.00
VTWNX: 6.73
VHYAX: 2.57

The current VTWNX Sharpe Ratio is 1.28, which is higher than the VHYAX Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of VTWNX and VHYAX, 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 Ratio0.001.002.003.00NovemberDecember2025FebruaryMarchApril
1.28
0.55
VTWNX
VHYAX

Dividends

VTWNX vs. VHYAX - Dividend Comparison

VTWNX's dividend yield for the trailing twelve months is around 3.15%, more than VHYAX's 2.97% yield.


TTM20242023202220212020201920182017201620152014
VTWNX
Vanguard Target Retirement 2020 Fund
3.15%3.19%2.94%2.58%2.54%1.62%2.43%2.60%2.01%1.99%2.18%1.90%
VHYAX
Vanguard High Dividend Yield Index Fund Admiral Shares
2.97%2.72%3.10%2.98%2.74%3.16%3.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

VTWNX vs. VHYAX - Drawdown Comparison

The maximum VTWNX drawdown since its inception was -42.16%, which is greater than VHYAX's maximum drawdown of -35.14%. Use the drawdown chart below to compare losses from any high point for VTWNX and VHYAX. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-15.50%
-8.02%
VTWNX
VHYAX

Volatility

VTWNX vs. VHYAX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2020 Fund (VTWNX) is 4.27%, while Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) has a volatility of 11.38%. This indicates that VTWNX experiences smaller price fluctuations and is considered to be less risky than VHYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%12.00%NovemberDecember2025FebruaryMarchApril
4.27%
11.38%
VTWNX
VHYAX