VWIAX vs. VGYAX
VWIAX (Vanguard Wellesley Income Fund Admiral Shares) and VGYAX (Vanguard Global Wellesley Income Fund Admiral Shares) are both Diversified Portfolio funds from Vanguard. Over the past 5 years, VWIAX returned 4.22%/yr vs 5.18%/yr for VGYAX. Their correlation of 0.91 suggests significant overlap in exposure. VWIAX charges 0.16%/yr vs 0.28%/yr for VGYAX.
Performance
VWIAX vs. VGYAX - Performance Comparison
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Returns By Period
In the year-to-date period, VWIAX achieves a 3.19% return, which is significantly lower than VGYAX's 4.40% return.
VWIAX
- 1D
- -0.22%
- 1M
- 0.24%
- YTD
- 3.19%
- 6M
- 3.02%
- 1Y
- 9.79%
- 3Y*
- 8.73%
- 5Y*
- 4.22%
- 10Y*
- 5.88%
VGYAX
- 1D
- -0.07%
- 1M
- 0.28%
- YTD
- 4.40%
- 6M
- 4.36%
- 1Y
- 10.93%
- 3Y*
- 9.91%
- 5Y*
- 5.18%
- 10Y*
- —
VWIAX vs. VGYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 3.19% | 11.08% | 5.92% | 7.07% | -9.04% | 8.55% | 8.52% | 16.47% | -2.49% | 1.40% |
VGYAX Vanguard Global Wellesley Income Fund Admiral Shares | 4.40% | 13.31% | 6.15% | 8.95% | -8.06% | 6.58% | 5.52% | 13.92% | -4.31% | 0.98% |
Correlation
The correlation between VWIAX and VGYAX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2017 | 0.91 |
The correlation between VWIAX and VGYAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
VWIAX vs. VGYAX — Risk / Return Rank
VWIAX
VGYAX
VWIAX vs. VGYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Admiral Shares (VWIAX) and Vanguard Global Wellesley Income Fund Admiral Shares (VGYAX). 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 | VGYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.47 | 0.00 |
| Martin ratioReturn relative to average drawdown | 9.28 | 9.29 | -0.01 |
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Drawdowns
VWIAX vs. VGYAX - Drawdown Comparison
The maximum VWIAX drawdown since its inception was -21.64%, which is greater than VGYAX's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for VWIAX and VGYAX.
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Drawdown Indicators
| VWIAX | VGYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -17.71% | -3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -4.55% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.96% | -5.34% | -1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -15.26% | -15.89% | +0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -17.41% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -0.54% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -2.64% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.21% | -0.11% |
Volatility
VWIAX vs. VGYAX - Volatility Comparison
Vanguard Wellesley Income Fund Admiral Shares (VWIAX) has a higher volatility of 1.61% compared to Vanguard Global Wellesley Income Fund Admiral Shares (VGYAX) at 1.53%. This indicates that VWIAX's price experiences larger fluctuations and is considered to be riskier than VGYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWIAX | VGYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 1.53% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.95% | 4.26% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 5.20% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.99% | 6.27% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 6.78% | +0.16% |
VWIAX vs. VGYAX - Expense Ratio Comparison
VWIAX has a 0.16% expense ratio, which is lower than VGYAX's 0.28% expense ratio.
Dividends
VWIAX vs. VGYAX - Dividend Comparison
VWIAX's dividend yield for the trailing twelve months is around 7.87%, more than VGYAX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGYAX Vanguard Global Wellesley Income Fund Admiral Shares | 3.97% | 4.01% | 3.90% | 3.15% | 1.54% | 2.40% | 1.99% | 2.26% | 4.36% | 0.30% | 0.00% | 0.00% |
VWIAX Vanguard Wellesley Income Fund Admiral Shares | 7.87% | 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
With a correlation of 0.91, VWIAX and VGYAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VWIAX has higher volatility (1.61%) compared to VGYAX (1.53%). In terms of maximum drawdown, VWIAX dropped -21.64% vs VGYAX's -17.71%.
VGYAX currently has the higher Sharpe Ratio (2.17 vs 1.96), 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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