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VWENX vs. VEIPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWENX vs. VEIPX

Last updated Jun 4, 2026

VWENX (Vanguard Wellington Fund Admiral Shares) and VEIPX (Vanguard Equity Income Fund Investor Shares) are both mutual funds - VWENX is a Diversified Portfolio fund actively managed by Vanguard, while VEIPX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, VWENX returned 10.28%/yr vs 11.85%/yr for VEIPX. Their correlation of 0.91 suggests significant overlap in exposure. VWENX charges 0.16%/yr vs 0.28%/yr for VEIPX.

Performance

VWENX vs. VEIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellington Fund Admiral Shares (VWENX) and Vanguard Equity Income Fund Investor Shares (VEIPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VWENX achieves a 7.16% return, which is significantly lower than VEIPX's 9.70% return. Over the past 10 years, VWENX has underperformed VEIPX with an annualized return of 10.28%, while VEIPX has yielded a comparatively higher 11.85% annualized return.

VWENX

1D
0.07%
1M
3.88%
YTD
7.16%
6M
7.40%
1Y
21.14%
3Y*
15.70%
5Y*
9.06%
10Y*
10.28%

VEIPX

1D
0.79%
1M
2.94%
YTD
9.70%
6M
9.81%
1Y
23.43%
3Y*
17.52%
5Y*
11.01%
10Y*
11.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWENX vs. VEIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VWENX
Vanguard Wellington Fund Admiral Shares		7.16%16.63%14.82%14.40%-14.31%19.09%10.66%22.61%-3.35%14.05%
VEIPX
Vanguard Equity Income Fund Investor Shares		9.70%17.14%14.80%7.66%-0.16%25.41%2.97%25.21%-5.75%17.60%

Correlation

The correlation between VWENX and VEIPX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.63

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

0.69

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

0.77

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

0.82

Correlation (All Time)
Calculated using the full available price history since May 15, 2001

0.91

Over the past year, the correlation between VWENX and VEIPX has dropped to 0.63 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

VWENX vs. VEIPX - Sectors Allocation Comparison

Sectors
VWENX
VEIPX

Technology

31.8%
13.0%

Communication Services

12.3%
2.9%

Consumer Cyclical

10.9%
6.0%

Financial Services

10.6%
20.5%

Healthcare

9.8%
14.8%

Industrials

8.5%
10.6%

Consumer Defensive

4.4%
9.4%

Energy

4.4%
8.3%

Real Estate

2.6%
1.9%

Utilities

2.5%
7.0%

Basic Materials

2.1%
3.4%

Technology

VWENX
31.8%
VEIPX
13.0%

Communication Services

VWENX
12.3%
VEIPX
2.9%

Consumer Cyclical

VWENX
10.9%
VEIPX
6.0%

Financial Services

VWENX
10.6%
VEIPX
20.5%

Healthcare

VWENX
9.8%
VEIPX
14.8%

Industrials

VWENX
8.5%
VEIPX
10.6%

Consumer Defensive

VWENX
4.4%
VEIPX
9.4%

Energy

VWENX
4.4%
VEIPX
8.3%

Real Estate

VWENX
2.6%
VEIPX
1.9%

Utilities

VWENX
2.5%
VEIPX
7.0%

Basic Materials

VWENX
2.1%
VEIPX
3.4%

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Vanguard Wellington Fund Admiral Shares

Vanguard Equity Income Fund Investor Shares

Often compared with VWENX:
VWENX vs. VWELXVWENX vs. VWIAXVWENX vs. VWINXVWENX vs. VGWAXVWENX vs. VTSAXVWENX vs. SWOBXVWENX vs. SPY
Often compared with VEIPX:
VEIPX vs. VYMVEIPX vs. SCHDVEIPX vs. VHYAXVEIPX vs. VDIGXVEIPX vs. VWINXVEIPX vs. VFIAXVEIPX vs. VOO

Return for Risk

VWENX vs. VEIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWENX
VWENX Risk / Return Rank: 7575
Overall Rank
VWENX Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VWENX Sortino Ratio Rank: 7575
Sortino Ratio Rank
VWENX Omega Ratio Rank: 7373
Omega Ratio Rank
VWENX Calmar Ratio Rank: 6868
Calmar Ratio Rank
VWENX Martin Ratio Rank: 7979
Martin Ratio Rank
VEIPX
VEIPX Risk / Return Rank: 6767
Overall Rank
VEIPX Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VEIPX Sortino Ratio Rank: 6565
Sortino Ratio Rank
VEIPX Omega Ratio Rank: 6060
Omega Ratio Rank
VEIPX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VEIPX Martin Ratio Rank: 6666
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.

VWENX vs. VEIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellington Fund Admiral Shares (VWENX) and Vanguard Equity Income Fund Investor Shares (VEIPX). 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.

VWENXVEIPXDifference
Sharpe ratioReturn per unit of total volatility
2.57
2.38

+0.19

Sortino ratioReturn per unit of downside risk
3.61
3.38

+0.24

Omega ratioGain probability vs. loss probability

1.48

1.43

+0.05

Calmar ratioReturn relative to maximum drawdown

3.19

3.42

-0.23

Martin ratioReturn relative to average drawdown

14.78

12.78

+2.01

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

VWENX vs. VEIPX - Sharpe Ratio Comparison

The current VWENX Sharpe Ratio is 2.57, which is comparable to the VEIPX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of VWENX and VEIPX, 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

VWENXVEIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.57

2.38

+0.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.82

0.80

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.90

0.73

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.68

0.66

+0.03

Drawdowns

VWENX vs. VEIPX - Drawdown Comparison

The maximum VWENX drawdown since its inception was -36.02%, smaller than the maximum VEIPX drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for VWENX and VEIPX.

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Drawdown Indicators

VWENXVEIPXDifference

Max Drawdown

Largest peak-to-trough decline

-36.02%

-54.12%

+18.10%

Max Drawdown (1Y)

Largest decline over 1 year

-6.77%

-7.15%

+0.38%

Max Drawdown (3Y)

Largest decline over 3 years

-11.98%

-13.39%

+1.41%

Max Drawdown (5Y)

Largest decline over 5 years

-20.84%

-15.16%

-5.68%

Max Drawdown (10Y)

Largest decline over 10 years

-25.33%

-35.26%

+9.93%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.36%

-5.50%

+1.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.46%

1.91%

-0.45%

Volatility

VWENX vs. VEIPX - Volatility Comparison

The current volatility for Vanguard Wellington Fund Admiral Shares (VWENX) is 2.53%, while Vanguard Equity Income Fund Investor Shares (VEIPX) has a volatility of 2.83%. This indicates that VWENX experiences smaller price fluctuations and is considered to be less risky than VEIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWENXVEIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.53%

2.83%

-0.30%

Volatility (6M)

Calculated over the trailing 6-month period

6.67%

7.65%

-0.98%

Volatility (1Y)

Calculated over the trailing 1-year period

8.38%

10.25%

-1.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.14%

13.92%

-2.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.53%

16.30%

-4.77%

VWENX vs. VEIPX - Expense Ratio Comparison

VWENX has a 0.16% expense ratio, which is lower than VEIPX's 0.28% expense ratio.

Dividends

VWENX vs. VEIPX - Dividend Comparison

VWENX's dividend yield for the trailing twelve months is around 10.83%, more than VEIPX's 10.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VEIPX
Vanguard Equity Income Fund Investor Shares		10.03%10.94%9.74%7.87%8.69%7.62%2.77%4.36%10.87%2.98%3.78%6.39%
VWENX
Vanguard Wellington Fund Admiral Shares		10.83%11.55%10.85%6.08%8.28%8.72%7.85%4.74%9.58%5.88%4.53%6.58%

Frequently Asked Questions

VWENX and VEIPX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEIPX has higher volatility (2.83%) compared to VWENX (2.53%). In terms of maximum drawdown, VWENX dropped -36.02% vs VEIPX's -54.12%.

VWENX currently has the higher Sharpe Ratio (2.57 vs 2.38), 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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