VWINX vs. HYGW
VWINX (Vanguard Wellesley Income Fund Investor Shares) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both funds - VWINX is a Diversified Portfolio fund actively managed by Vanguard, while HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index. VWINX is actively managed, while HYGW is passively managed. Over the past 3 years, VWINX returned 8.40%/yr vs 5.70%/yr for HYGW. A 0.62 correlation means they provide meaningful diversification when combined. VWINX charges 0.22%/yr vs 0.69%/yr for HYGW.
Performance
VWINX vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, VWINX achieves a 3.39% return, which is significantly higher than HYGW's 2.12% return.
VWINX
- 1D
- 0.26%
- 1M
- 1.12%
- YTD
- 3.39%
- 6M
- 3.55%
- 1Y
- 10.49%
- 3Y*
- 8.40%
- 5Y*
- 4.24%
- 10Y*
- 5.77%
HYGW
- 1D
- 0.24%
- 1M
- 0.84%
- YTD
- 2.12%
- 6M
- 2.52%
- 1Y
- 6.56%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
VWINX vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VWINX Vanguard Wellesley Income Fund Investor Shares | 3.39% | 10.98% | 5.86% | 6.99% | -2.33% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.12% | 6.19% | 6.99% | 7.31% | -0.39% |
Correlation
The correlation between VWINX and HYGW is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2022 | 0.62 |
The correlation between VWINX and HYGW shifts across timeframes, from 0.50 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VWINX vs. HYGW — Risk / Return Rank
VWINX
HYGW
VWINX vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Investor Shares (VWINX) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| VWINX | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.49 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 3.62 | -1.09 |
| Martin ratioReturn relative to average drawdown | 9.52 | 16.51 | -6.99 |
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Drawdowns
VWINX vs. HYGW - Drawdown Comparison
The maximum VWINX drawdown since its inception was -21.72%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for VWINX and HYGW.
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Drawdown Indicators
| VWINX | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.72% | -5.49% | -16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -4.16% | -1.82% | -2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -6.98% | -3.66% | -3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -15.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.43% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | 0.00% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -0.60% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.40% | +0.70% |
Volatility
VWINX vs. HYGW - Volatility Comparison
Vanguard Wellesley Income Fund Investor Shares (VWINX) has a higher volatility of 1.63% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.91%. This indicates that VWINX's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWINX | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 0.91% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.92% | 2.24% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.20% | 2.87% | +2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.99% | 4.67% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 4.67% | +2.26% |
VWINX vs. HYGW - Expense Ratio Comparison
VWINX has a 0.22% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Dividends
VWINX vs. HYGW - Dividend Comparison
VWINX's dividend yield for the trailing twelve months is around 8.64%, less than HYGW's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 11.52% | 12.53% | 12.30% | 15.98% | 8.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWINX Vanguard Wellesley Income Fund Investor Shares | 8.64% | 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 HYGW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWINX has higher volatility (1.63%) compared to HYGW (0.91%). In terms of maximum drawdown, VWINX dropped -21.72% vs HYGW's -5.49%.
HYGW currently has the higher Sharpe Ratio (2.31 vs 2.03), 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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