VWIAX vs. PRWCX
VWIAX (Vanguard Wellesley Income Fund Admiral Shares) and PRWCX (T. Rowe Price Capital Appreciation Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past 10 years, VWIAX returned 5.66%/yr vs 11.21%/yr for PRWCX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VWIAX charges 0.16%/yr vs 0.68%/yr for PRWCX.
Performance
VWIAX vs. PRWCX - Performance Comparison
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Returns By Period
In the year-to-date period, VWIAX achieves a 3.99% return, which is significantly lower than PRWCX's 7.78% return. Over the past 10 years, VWIAX has underperformed PRWCX with an annualized return of 5.66%, while PRWCX has yielded a comparatively higher 11.21% annualized return.
VWIAX
- 1D
- 0.40%
- 1M
- 0.21%
- 6M
- 2.38%
- YTD
- 3.99%
- 1Y
- 8.70%
- 3Y*
- 8.55%
- 5Y*
- 3.93%
- 10Y*
- 5.66%
- ALL TIME*
- 6.26%
PRWCX
- 1D
- 1.05%
- 1M
- 1.18%
- 6M
- 8.02%
- YTD
- 7.78%
- 1Y
- 11.38%
- 3Y*
- 13.02%
- 5Y*
- 8.46%
- 10Y*
- 11.21%
- ALL TIME*
- 11.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VWIAX vs. PRWCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 3.99% | 11.08% | 5.92% | 7.07% | -9.04% | 8.55% | 8.52% | 16.47% | -2.49% | 9.37% |
PRWCX T. Rowe Price Capital Appreciation Fund | 7.78% | 12.45% | 12.50% | 18.85% | -12.00% | 18.45% | 18.13% | 24.62% | 0.63% | 15.34% |
Correlation
The correlation between VWIAX and PRWCX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 14, 2001 | 0.75 |
The correlation between VWIAX and PRWCX shifts across timeframes, from 0.57 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VWIAX vs. PRWCX — Risk / Return Rank
VWIAX
PRWCX
VWIAX vs. PRWCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Admiral Shares (VWIAX) and T. Rowe Price Capital Appreciation Fund (PRWCX). 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.
| VWIAX | PRWCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 1.98 | +0.26 |
| Martin ratioReturn relative to average drawdown | 8.44 | 8.10 | +0.33 |
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Drawdowns
VWIAX vs. PRWCX - Drawdown Comparison
The maximum VWIAX drawdown since its inception was -21.64%, smaller than the maximum PRWCX drawdown of -41.77%. Use the drawdown chart below to compare losses from any high point for VWIAX and PRWCX.
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Drawdown Indicators
| VWIAX | PRWCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -41.77% | +20.13% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -6.32% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -5.78% | -15.96% | +10.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.26% | -17.07% | +1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -17.41% | -26.86% | +9.45% |
Current DrawdownCurrent decline from peak | -0.33% | 0.00% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -3.32% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.54% | -0.44% |
Volatility
VWIAX vs. PRWCX - Volatility Comparison
The current volatility for Vanguard Wellesley Income Fund Admiral Shares (VWIAX) is 1.34%, while T. Rowe Price Capital Appreciation Fund (PRWCX) has a volatility of 2.32%. This indicates that VWIAX experiences smaller price fluctuations and is considered to be less risky than PRWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWIAX | PRWCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 2.32% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | 6.66% | -2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.16% | 7.96% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.00% | 12.79% | -5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 12.73% | -5.80% |
VWIAX vs. PRWCX - Expense Ratio Comparison
VWIAX has a 0.16% expense ratio, which is lower than PRWCX's 0.68% expense ratio.
Dividends
VWIAX vs. PRWCX - Dividend Comparison
VWIAX's dividend yield for the trailing twelve months is around 7.81%, less than PRWCX's 8.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRWCX T. Rowe Price Capital Appreciation Fund | 8.18% | 8.81% | 10.38% | 4.15% | 9.44% | 9.23% | 7.97% | 5.83% | 7.46% | 6.82% | 3.51% | 9.86% |
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 7.81% | 7.93% | 6.69% | 4.80% | 7.75% | 6.11% | 4.37% | 4.00% | 7.64% | 3.25% | 4.07% | 5.66% |
Frequently Asked Questions
VWIAX and PRWCX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWCX has higher volatility (2.32%) compared to VWIAX (1.34%). In terms of maximum drawdown, VWIAX dropped -21.64% vs PRWCX's -41.77%.
VWIAX currently has the higher Sharpe Ratio (1.81 vs 1.57), 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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