VUSXX vs. VWELX

Last updated Jun 6, 2026

VUSXX (Vanguard Treasury Money Market Fund) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - VUSXX is a Money Market fund actively managed by Vanguard, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Both are actively managed. Over the past 5 years, VUSXX returned 1.56%/yr vs 8.75%/yr for VWELX. At a 0.02 correlation, their price movements are largely independent. VUSXX charges 0.07%/yr vs 0.24%/yr for VWELX.

Performance

VUSXX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Treasury Money Market Fund (VUSXX) 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, VUSXX achieves a 1.51% return, which is significantly lower than VWELX's 6.71% return.

VUSXX

• 1D: 0.00%
• 1M: 0.31%
• YTD: 1.51%
• 6M: 1.84%
• 1Y: 3.98%
• 3Y*: 2.61%
• 5Y*: 1.56%
• 10Y*: —

VWELX

• 1D: 0.30%
• 1M: 1.67%
• YTD: 6.71%
• 6M: 6.89%
• 1Y: 20.46%
• 3Y*: 15.54%
• 5Y*: 8.75%
• 10Y*: 10.13%

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

VUSXX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VUSXX Vanguard Treasury Money Market Fund	1.51%	4.25%	1.65%	0.43%	0.00%	0.00%
VWELX Vanguard Wellington Fund Investor Shares	6.71%	16.54%	14.73%	14.29%	-14.36%	9.67%

Correlation

The correlation between VUSXX and VWELX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.02

Return for Risk

VUSXX vs. VWELX — Risk / Return Rank

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

VWELX

VWELX Risk / Return Rank: 71
VWELX Sharpe Ratio Rank: 73
VWELX Sortino Ratio Rank: 71
VWELX Omega Ratio Rank: 70
VWELX Calmar Ratio Rank: 65
VWELX Martin Ratio Rank: 77

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.

VUSXX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Treasury Money Market Fund (VUSXX) 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.

	VUSXX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	3.68	2.42	+1.26
Sortino ratio: Return per unit of downside risk	—	3.41	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	3.00	—
Martin ratio: Return relative to average drawdown	—	13.90	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUSXX vs. VWELX - Sharpe Ratio Comparison

The current VUSXX Sharpe Ratio is 3.68, which is higher than the VWELX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of VUSXX 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

	VUSXX	VWELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.68	2.42	+1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.14	0.79	+1.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	0.84	+1.30

Drawdowns

VUSXX vs. VWELX - Drawdown Comparison

The maximum VUSXX drawdown since its inception was 0.00%, smaller than the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VUSXX and VWELX.

Drawdown Indicators

	VUSXX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-36.12%	+36.12%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-6.78%	+6.78%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-11.98%	+11.98%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-20.88%	+20.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.33%	—
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	0.00%	-3.92%	+3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.46%	-1.46%

Volatility

VUSXX vs. VWELX - Volatility Comparison

The current volatility for Vanguard Treasury Money Market Fund (VUSXX) is 0.31%, while Vanguard Wellington Fund Investor Shares (VWELX) has a volatility of 2.59%. This indicates that VUSXX 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

	VUSXX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	2.59%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	0.79%	6.68%	-5.89%
Volatility (1Y) Calculated over the trailing 1-year period	1.12%	8.41%	-7.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.75%	11.13%	-10.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.75%	11.53%	-10.78%

VUSXX vs. VWELX - Expense Ratio Comparison

VUSXX has a 0.07% 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

VUSXX vs. VWELX - Dividend Comparison

VUSXX's dividend yield for the trailing twelve months is around 3.89%, less than VWELX's 10.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VUSXX Vanguard Treasury Money Market Fund	3.89%	4.15%	1.63%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VWELX Vanguard Wellington Fund Investor Shares	10.80%	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 VUSXX and VWELX in my portfolio?

VUSXX and VWELX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUSXX or VWELX?

VWELX has higher volatility (2.59%) compared to VUSXX (0.31%). In terms of maximum drawdown, VUSXX dropped 0.00% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VUSXX currently has the higher Sharpe Ratio (3.68 vs 2.42), 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.