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VWINX vs. FFRHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWINX vs. FFRHX

Last updated Jun 4, 2026

VWINX (Vanguard Wellesley Income Fund Investor Shares) and FFRHX (Fidelity Floating Rate High Income Fund) are both mutual funds - VWINX is a Diversified Portfolio fund managed by Vanguard, while FFRHX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, VWINX returned 5.81%/yr vs 4.95%/yr for FFRHX. At a 0.20 correlation, their price movements are largely independent. VWINX charges 0.23%/yr vs 0.67%/yr for FFRHX.

Performance

VWINX vs. FFRHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellesley Income Fund Investor Shares (VWINX) and Fidelity Floating Rate High Income Fund (FFRHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VWINX achieves a 3.55% return, which is significantly higher than FFRHX's 2.05% return. Over the past 10 years, VWINX has outperformed FFRHX with an annualized return of 5.81%, while FFRHX has yielded a comparatively lower 4.95% annualized return.

VWINX

1D
0.31%
1M
1.24%
YTD
3.55%
6M
3.53%
1Y
11.32%
3Y*
8.86%
5Y*
4.14%
10Y*
5.81%

FFRHX

1D
-0.11%
1M
0.78%
YTD
2.05%
6M
2.69%
1Y
6.13%
3Y*
7.64%
5Y*
5.49%
10Y*
4.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWINX vs. FFRHX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VWINX
Vanguard Wellesley Income Fund Investor Shares		3.55%10.98%5.86%6.99%-9.09%8.48%8.44%16.39%-2.54%9.29%
FFRHX
Fidelity Floating Rate High Income Fund		2.05%5.47%7.10%12.63%-1.55%5.01%1.69%8.63%0.10%3.91%

Correlation

The correlation between VWINX and FFRHX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.21

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

0.27

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

0.25

Correlation (All Time)
Calculated using the full available price history since Sep 1, 2000

0.20

The correlation between VWINX and FFRHX shifts across timeframes, from 0.12 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.

VWINX vs. FFRHX - Sectors Allocation Comparison

Sectors
VWINX
FFRHX

Financial Services

7.9%

-

Healthcare

5.7%

-

Technology

4.2%

-

Industrials

3.6%

-

Consumer Defensive

3.6%

-

Utilities

3.6%

-

Energy

3.1%
92.8%

Consumer Cyclical

1.9%
4.3%

Basic Materials

1.4%

-

Real Estate

1.1%

-

Communication Services

1.1%
3.0%

Financial Services

VWINX
7.9%
FFRHX

-

Healthcare

VWINX
5.7%
FFRHX

-

Technology

VWINX
4.2%
FFRHX

-

Industrials

VWINX
3.6%
FFRHX

-

Consumer Defensive

VWINX
3.6%
FFRHX

-

Utilities

VWINX
3.6%
FFRHX

-

Energy

VWINX
3.1%
FFRHX
92.8%

Consumer Cyclical

VWINX
1.9%
FFRHX
4.3%

Basic Materials

VWINX
1.4%
FFRHX

-

Real Estate

VWINX
1.1%
FFRHX

-

Communication Services

VWINX
1.1%
FFRHX
3.0%

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Vanguard Wellesley Income Fund Investor Shares

Fidelity Floating Rate High Income Fund

Often compared with VWINX:
VWINX vs. VWELXVWINX vs. VTINXVWINX vs. VWENXVWINX vs. VSCGXVWINX vs. SCHDVWINX vs. FFANXVWINX vs. VYM
Often compared with FFRHX:
FFRHX vs. PRFRXFFRHX vs. FAGIXFFRHX vs. SCHPFFRHX vs. FTBFXFFRHX vs. FADMXFFRHX vs. FFRIXFFRHX vs. FFRAX

Return for Risk

VWINX vs. FFRHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWINX
VWINX Risk / Return Rank: 5757
Overall Rank
VWINX Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
VWINX Sortino Ratio Rank: 6262
Sortino Ratio Rank
VWINX Omega Ratio Rank: 5858
Omega Ratio Rank
VWINX Calmar Ratio Rank: 5454
Calmar Ratio Rank
VWINX Martin Ratio Rank: 5252
Martin Ratio Rank
FFRHX
FFRHX Risk / Return Rank: 9292
Overall Rank
FFRHX Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
FFRHX Sortino Ratio Rank: 9898
Sortino Ratio Rank
FFRHX Omega Ratio Rank: 9797
Omega Ratio Rank
FFRHX Calmar Ratio Rank: 9393
Calmar Ratio Rank
FFRHX Martin Ratio Rank: 9090
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.

VWINX vs. FFRHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Investor Shares (VWINX) and Fidelity Floating Rate High Income Fund (FFRHX). 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.

VWINXFFRHXDifference
Sharpe ratioReturn per unit of total volatility
2.29
2.62

-0.32

Sortino ratioReturn per unit of downside risk
3.30
6.30

-2.99

Omega ratioGain probability vs. loss probability

1.42

1.96

-0.53

Calmar ratioReturn relative to maximum drawdown

2.81

5.16

-2.36

Martin ratioReturn relative to average drawdown

10.57

18.28

-7.71

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

VWINX vs. FFRHX - Sharpe Ratio Comparison

The current VWINX Sharpe Ratio is 2.29, which is comparable to the FFRHX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of VWINX and FFRHX, 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

VWINXFFRHXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

2.62

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

1.92

-1.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

1.20

-0.36

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

1.15

-0.07

Drawdowns

VWINX vs. FFRHX - Drawdown Comparison

The maximum VWINX drawdown since its inception was -21.72%, roughly equal to the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for VWINX and FFRHX.

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Drawdown Indicators

VWINXFFRHXDifference

Max Drawdown

Largest peak-to-trough decline

-21.72%

-22.20%

+0.48%

Max Drawdown (1Y)

Largest decline over 1 year

-4.16%

-1.19%

-2.97%

Max Drawdown (3Y)

Largest decline over 3 years

-6.98%

-3.29%

-3.69%

Max Drawdown (5Y)

Largest decline over 5 years

-15.30%

-5.90%

-9.40%

Max Drawdown (10Y)

Largest decline over 10 years

-17.43%

-22.20%

+4.77%

Current Drawdown

Current decline from peak

0.00%

-0.11%

+0.11%

Average Drawdown

Average peak-to-trough decline

-2.63%

-1.15%

-1.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.10%

0.34%

+0.76%

Volatility

VWINX vs. FFRHX - Volatility Comparison

Vanguard Wellesley Income Fund Investor Shares (VWINX) has a higher volatility of 1.64% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.61%. This indicates that VWINX's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWINXFFRHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.64%

0.61%

+1.03%

Volatility (6M)

Calculated over the trailing 6-month period

3.89%

1.62%

+2.27%

Volatility (1Y)

Calculated over the trailing 1-year period

5.09%

2.35%

+2.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.97%

2.88%

+4.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.92%

4.14%

+2.78%

VWINX vs. FFRHX - Expense Ratio Comparison

VWINX has a 0.23% expense ratio, which is lower than FFRHX's 0.67% expense ratio.

Dividends

VWINX vs. FFRHX - Dividend Comparison

VWINX's dividend yield for the trailing twelve months is around 7.68%, more than FFRHX's 7.07% yield.

PositionTTM20252024202320222021202020192018201720162015
FFRHX
Fidelity Floating Rate High Income Fund		7.07%7.41%6.94%8.24%3.81%2.74%3.84%5.15%4.74%4.05%4.44%3.69%
VWINX
Vanguard Wellesley Income Fund Investor Shares		7.68%7.86%6.61%4.73%7.67%6.03%4.30%3.94%7.56%3.20%4.00%5.60%

Frequently Asked Questions

VWINX and FFRHX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VWINX has higher volatility (1.64%) compared to FFRHX (0.61%). In terms of maximum drawdown, VWINX dropped -21.72% vs FFRHX's -22.20%.

FFRHX currently has the higher Sharpe Ratio (2.62 vs 2.29), 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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