VWIAX vs. VBTLX
VWIAX (Vanguard Wellesley Income Fund Admiral Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VWIAX is a Diversified Portfolio fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VWIAX returned 5.88%/yr vs 1.58%/yr for VBTLX. At a 0.28 correlation, their price movements are largely independent. VWIAX charges 0.16%/yr vs 0.04%/yr for VBTLX.
Performance
VWIAX vs. VBTLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VWIAX achieves a 3.59% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VWIAX has outperformed VBTLX with an annualized return of 5.88%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
VWIAX
- 1D
- 0.30%
- 1M
- 1.26%
- YTD
- 3.59%
- 6M
- 3.59%
- 1Y
- 11.43%
- 3Y*
- 8.94%
- 5Y*
- 4.22%
- 10Y*
- 5.88%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VWIAX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 3.59% | 11.08% | 5.92% | 7.07% | -9.04% | 8.55% | 8.52% | 16.47% | -2.49% | 9.37% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VWIAX and VBTLX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.28 |
Over the past year, VWIAX and VBTLX have become more correlated (0.60) than their long-term average of 0.28, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VWIAX vs. VBTLX — Risk / Return Rank
VWIAX
VBTLX
VWIAX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Admiral Shares (VWIAX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VWIAX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.24 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.86 | +0.98 |
| Martin ratioReturn relative to average drawdown | 10.69 | 5.58 | +5.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VWIAX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 1.36 | +0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.04 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.32 | +0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.76 | +0.17 |
Drawdowns
VWIAX vs. VBTLX - Drawdown Comparison
The maximum VWIAX drawdown since its inception was -21.64%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VWIAX and VBTLX.
Loading charts...
Drawdown Indicators
| VWIAX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -18.81% | -2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -2.89% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -6.00% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -15.26% | -18.14% | +2.88% |
Max Drawdown (10Y)Largest decline over 10 years | -17.41% | -18.81% | +1.40% |
Current DrawdownCurrent decline from peak | 0.00% | -2.18% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -2.22% | -2.67% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.96% | +0.14% |
Volatility
VWIAX vs. VBTLX - Volatility Comparison
Vanguard Wellesley Income Fund Admiral Shares (VWIAX) has a higher volatility of 1.66% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.38%. This indicates that VWIAX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VWIAX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.38% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 2.80% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 3.97% | +1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.97% | 6.01% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 4.98% | +1.94% |
VWIAX vs. VBTLX - Expense Ratio Comparison
VWIAX has a 0.16% expense ratio, which is higher than VBTLX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VWIAX vs. VBTLX - Dividend Comparison
VWIAX's dividend yield for the trailing twelve months is around 7.75%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 7.75% | 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 VBTLX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWIAX has higher volatility (1.66%) compared to VBTLX (1.38%). In terms of maximum drawdown, VWIAX dropped -21.64% vs VBTLX's -18.81%.
VWIAX currently has the higher Sharpe Ratio (2.30 vs 1.36), 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.
Find the right allocation for VWIAX and VBTLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer