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VTWNX vs. VTTVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VTWNX vs. VTTVX

Last updated Jun 4, 2026

VTWNX (Vanguard Target Retirement 2020 Fund) and VTTVX (Vanguard Target Retirement 2025 Fund) are both mutual funds - VTWNX is a Target Retirement Date fund managed by Vanguard, while VTTVX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, VTWNX returned 6.81%/yr vs 7.99%/yr for VTTVX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.

Performance

VTWNX vs. VTTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard Target Retirement 2025 Fund (VTTVX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VTWNX achieves a 5.10% return, which is significantly lower than VTTVX's 6.82% return. Over the past 10 years, VTWNX has underperformed VTTVX with an annualized return of 6.81%, while VTTVX has yielded a comparatively higher 7.99% annualized return.

VTWNX

1D
0.17%
1M
2.27%
YTD
5.10%
6M
5.39%
1Y
13.27%
3Y*
10.58%
5Y*
4.89%
10Y*
6.81%

VTTVX

1D
0.19%
1M
3.00%
YTD
6.82%
6M
7.29%
1Y
16.99%
3Y*
12.88%
5Y*
6.14%
10Y*
7.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VTWNX vs. VTTVX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VTWNX
Vanguard Target Retirement 2020 Fund		5.10%12.17%7.57%12.71%-14.17%8.15%12.05%17.64%-4.23%11.83%
VTTVX
Vanguard Target Retirement 2025 Fund		6.82%14.63%9.23%14.76%-15.57%9.78%13.31%19.63%-5.14%13.68%

Correlation

The correlation between VTWNX and VTTVX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Jun 8, 2006

0.99

The correlation between VTWNX and VTTVX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

VTWNX vs. VTTVX - Sectors Allocation Comparison

Sectors
VTWNX
VTTVX

Technology

27.4%
27.4%

Financial Services

16.1%
16.1%

Industrials

12.3%
12.3%

Consumer Cyclical

9.4%
9.4%

Healthcare

8.3%
8.3%

Communication Services

8.0%
8.0%

Consumer Defensive

4.8%
4.8%

Energy

4.3%
4.3%

Basic Materials

4.3%
4.2%

Utilities

2.7%
2.7%

Real Estate

2.5%
2.5%

Technology

VTWNX
27.4%
VTTVX
27.4%

Financial Services

VTWNX
16.1%
VTTVX
16.1%

Industrials

VTWNX
12.3%
VTTVX
12.3%

Consumer Cyclical

VTWNX
9.4%
VTTVX
9.4%

Healthcare

VTWNX
8.3%
VTTVX
8.3%

Communication Services

VTWNX
8.0%
VTTVX
8.0%

Consumer Defensive

VTWNX
4.8%
VTTVX
4.8%

Energy

VTWNX
4.3%
VTTVX
4.3%

Basic Materials

VTWNX
4.3%
VTTVX
4.2%

Utilities

VTWNX
2.7%
VTTVX
2.7%

Real Estate

VTWNX
2.5%
VTTVX
2.5%

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Vanguard Target Retirement 2020 Fund

Vanguard Target Retirement 2025 Fund

Often compared with VTWNX:
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Often compared with VTTVX:
VTTVX vs. VTSAXVTTVX vs. TRRHXVTTVX vs. FFTWXVTTVX vs. VOOVTTVX vs. VFIAXVTTVX vs. SCHDVTTVX vs. FQIFX

Return for Risk

VTWNX vs. VTTVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VTWNX
VTWNX Risk / Return Rank: 7272
Overall Rank
VTWNX Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
VTWNX Sortino Ratio Rank: 7777
Sortino Ratio Rank
VTWNX Omega Ratio Rank: 7676
Omega Ratio Rank
VTWNX Calmar Ratio Rank: 6262
Calmar Ratio Rank
VTWNX Martin Ratio Rank: 6969
Martin Ratio Rank
VTTVX
VTTVX Risk / Return Rank: 7171
Overall Rank
VTTVX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VTTVX Sortino Ratio Rank: 7575
Sortino Ratio Rank
VTTVX Omega Ratio Rank: 7373
Omega Ratio Rank
VTTVX Calmar Ratio Rank: 6464
Calmar Ratio Rank
VTTVX Martin Ratio Rank: 7070
Martin Ratio Rank
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.

VTWNX vs. VTTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard Target Retirement 2025 Fund (VTTVX). 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.

VTWNXVTTVXDifference
Sharpe ratioReturn per unit of total volatility
2.53
2.52

+0.01

Sortino ratioReturn per unit of downside risk
3.69
3.62

+0.07

Omega ratioGain probability vs. loss probability

1.50

1.48

+0.02

Calmar ratioReturn relative to maximum drawdown

3.04

3.09

-0.05

Martin ratioReturn relative to average drawdown

13.32

13.50

-0.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTWNX vs. VTTVX - Sharpe Ratio Comparison

The current VTWNX Sharpe Ratio is 2.53, which is comparable to the VTTVX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of VTWNX and VTTVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VTWNXVTTVXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.53

2.52

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.68

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

0.81

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.57

-0.02

Drawdowns

VTWNX vs. VTTVX - Drawdown Comparison

The maximum VTWNX drawdown since its inception was -42.16%, smaller than the maximum VTTVX drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for VTWNX and VTTVX.

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Drawdown Indicators

VTWNXVTTVXDifference

Max Drawdown

Largest peak-to-trough decline

-42.16%

-46.03%

+3.87%

Max Drawdown (1Y)

Largest decline over 1 year

-4.43%

-5.57%

+1.14%

Max Drawdown (3Y)

Largest decline over 3 years

-6.20%

-7.84%

+1.64%

Max Drawdown (5Y)

Largest decline over 5 years

-19.38%

-21.52%

+2.14%

Max Drawdown (10Y)

Largest decline over 10 years

-19.38%

-22.51%

+3.13%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.80%

-5.05%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.01%

1.27%

-0.26%

Volatility

VTWNX vs. VTTVX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2020 Fund (VTWNX) is 1.90%, while Vanguard Target Retirement 2025 Fund (VTTVX) has a volatility of 2.24%. This indicates that VTWNX experiences smaller price fluctuations and is considered to be less risky than VTTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VTWNXVTTVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.90%

2.24%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

4.36%

5.53%

-1.17%

Volatility (1Y)

Calculated over the trailing 1-year period

5.32%

6.83%

-1.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.40%

9.09%

-1.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.28%

9.94%

-1.66%

VTWNX vs. VTTVX - Expense Ratio Comparison

Both VTWNX and VTTVX 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%.

Dividends

VTWNX vs. VTTVX - Dividend Comparison

VTWNX's dividend yield for the trailing twelve months is around 7.80%, more than VTTVX's 6.91% yield.

PositionTTM20252024202320222021202020192018201720162015
VTTVX
Vanguard Target Retirement 2025 Fund		6.91%7.38%7.63%3.96%2.96%16.28%4.35%2.57%3.14%0.47%2.68%4.98%
VTWNX
Vanguard Target Retirement 2020 Fund		7.80%8.20%9.35%6.20%4.99%19.57%6.28%3.54%4.94%0.73%2.74%4.15%

Frequently Asked Questions

With a correlation of 0.99, VTWNX and VTTVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

VTTVX has higher volatility (2.24%) compared to VTWNX (1.90%). In terms of maximum drawdown, VTWNX dropped -42.16% vs VTTVX's -46.03%.

VTWNX currently has the higher Sharpe Ratio (2.53 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.

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