VUSFX vs. VWELX

Last updated Aug 5, 2026

VUSFX (Vanguard Ultra-Short-Term Bond Fund Admiral Shares) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - VUSFX is a Total Bond Market fund managed by Vanguard, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, VUSFX returned 2.75%/yr vs 9.82%/yr for VWELX. Their 0.13 correlation means their historical movements had little consistent relationship. VUSFX charges 0.10%/yr vs 0.24%/yr for VWELX.

Performance

VUSFX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) 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, VUSFX achieves a 2.01% return, which is significantly lower than VWELX's 6.44% return. Over the past 10 years, VUSFX has underperformed VWELX with an annualized return of 2.75%, while VWELX has yielded a comparatively higher 9.82% annualized return.

VUSFX

• 1D: 0.02%
• 1M: 0.27%
• 6M: 1.59%
• YTD: 2.01%
• 1Y: 4.03%
• 3Y*: 5.32%
• 5Y*: 3.61%
• 10Y*: 2.75%
• ALL TIME*: 2.69%

VWELX

• 1D: 1.01%
• 1M: 0.32%
• 6M: 5.82%
• YTD: 6.44%
• 1Y: 14.16%
• 3Y*: 14.69%
• 5Y*: 8.00%
• 10Y*: 9.82%
• ALL TIME*: 9.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares	$0.00	$0.00	$0.00
VWELX Vanguard Wellington Fund Investor Shares	$0.00	$0.00	$0.00

VUSFX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares	2.01%	5.11%	6.11%	5.53%	-0.38%	0.08%	2.10%	3.39%	2.10%	1.37%
VWELX Vanguard Wellington Fund Investor Shares	6.44%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between VUSFX and VWELX is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.21
Correlation (5Y) Shows whether the relationship held over a longer period.	0.24
Correlation (10Y) Provides a long-term view across more market conditions.	0.14
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.13

The correlation between VUSFX and VWELX shifts across timeframes, from 0.13 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VUSFX vs. VWELX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VUSFX

VUSFX Risk / Return Rank: 100
VUSFX Sharpe Ratio Rank: 100
VUSFX Sortino Ratio Rank: 100
VUSFX Omega Ratio Rank: 100
VUSFX Calmar Ratio Rank: 100
VUSFX Martin Ratio Rank: 100

VWELX

VWELX Risk / Return Rank: 64
VWELX Sharpe Ratio Rank: 63
VWELX Sortino Ratio Rank: 61
VWELX Omega Ratio Rank: 60
VWELX Calmar Ratio Rank: 62
VWELX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VUSFX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) 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.

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.

	VUSFX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	7.14	1.65	+5.49
Sortino ratio: Return per unit of downside risk	13.35	2.34	+11.01
Omega ratio: Gain probability vs. loss probability	3.98	1.30	+2.68
Calmar ratio: Return relative to maximum drawdown	16.46	2.27	+14.19
Martin ratio: Return relative to average drawdown	94.81	9.60	+85.21

VUSFX vs. VWELX - Sharpe Ratio Comparison

The current VUSFX Sharpe Ratio is 7.14, which is higher than the VWELX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of VUSFX 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.

Drawdowns

VUSFX vs. VWELX - Drawdown Comparison

The maximum VUSFX drawdown since its inception was -1.71%, smaller than the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VUSFX and VWELX.

Drawdown Indicators

	VUSFX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-1.71%	-36.12%	+34.41%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-6.78%	+6.53%
Max Drawdown (3Y) Largest decline over 3 years	-0.35%	-11.98%	+11.63%
Max Drawdown (5Y) Largest decline over 5 years	-1.71%	-20.88%	+19.17%
Max Drawdown (10Y) Largest decline over 10 years	-1.71%	-25.33%	+23.62%
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-0.15%	-3.91%	+3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	1.60%	-1.56%

Volatility

VUSFX vs. VWELX - Volatility Comparison

The current volatility for Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) is 0.14%, while Vanguard Wellington Fund Investor Shares (VWELX) has a volatility of 3.01%. This indicates that VUSFX 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

	VUSFX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.14%	3.01%	-2.87%
Volatility (6M) Calculated over the trailing 6-month period	0.45%	7.67%	-7.22%
Volatility (1Y) Calculated over the trailing 1-year period	0.58%	9.35%	-8.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.81%	11.27%	-10.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.68%	11.56%	-10.88%

VUSFX vs. VWELX - Expense Ratio Comparison

VUSFX has a 0.10% 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

VUSFX vs. VWELX - Dividend Comparison

VUSFX's dividend yield for the trailing twelve months is around 4.47%, less than VWELX's 10.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares	4.47%	4.73%	5.52%	4.15%	1.38%	0.53%	1.62%	2.68%	2.23%	1.52%	1.07%	0.00%
VWELX Vanguard Wellington Fund Investor Shares	10.87%	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 VUSFX and VWELX in my portfolio?

VUSFX and VWELX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUSFX or VWELX?

VWELX has higher volatility (3.01%) compared to VUSFX (0.14%). In terms of maximum drawdown, VUSFX dropped -1.71% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VUSFX currently has the higher Sharpe Ratio (7.14 vs 1.65), 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.