VWINX vs. TRBUX
VWINX (Vanguard Wellesley Income Fund Investor Shares) and TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) are both mutual funds - VWINX is a Diversified Portfolio fund actively managed by Vanguard, while TRBUX is a Ultrashort Bond fund managed by T. Rowe Price. Over the past 10 years, VWINX returned 5.77%/yr vs 3.29%/yr for TRBUX. At a 0.10 correlation, their price movements are largely independent. VWINX charges 0.22%/yr vs 0.31%/yr for TRBUX.
Performance
VWINX vs. TRBUX - 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 TRBUX's 1.39% return. Over the past 10 years, VWINX has outperformed TRBUX with an annualized return of 5.77%, while TRBUX has yielded a comparatively lower 3.29% annualized return.
VWINX
- 1D
- 0.26%
- 1M
- 0.45%
- YTD
- 3.39%
- 6M
- 3.31%
- 1Y
- 10.39%
- 3Y*
- 8.40%
- 5Y*
- 4.24%
- 10Y*
- 5.77%
TRBUX
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.39%
- 6M
- 2.18%
- 1Y
- 6.22%
- 3Y*
- 6.75%
- 5Y*
- 4.28%
- 10Y*
- 3.29%
VWINX vs. TRBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWINX Vanguard Wellesley Income Fund Investor Shares | 3.39% | 10.98% | 5.86% | 6.99% | -9.09% | 8.48% | 8.44% | 16.39% | -2.54% | 9.29% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 1.39% | 6.88% | 7.88% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
Correlation
The correlation between VWINX and TRBUX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.10 |
The correlation between VWINX and TRBUX shifts across timeframes, from 0.10 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VWINX vs. TRBUX — Risk / Return Rank
VWINX
TRBUX
VWINX vs. TRBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Investor Shares (VWINX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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 | TRBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -6.11 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 3.56 | -2.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 16.38 | -13.84 |
| Martin ratioReturn relative to average drawdown | 9.52 | 61.46 | -51.94 |
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Drawdowns
VWINX vs. TRBUX - Drawdown Comparison
The maximum VWINX drawdown since its inception was -21.72%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for VWINX and TRBUX.
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Drawdown Indicators
| VWINX | TRBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.72% | -4.15% | -17.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.16% | -0.39% | -3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -6.98% | -0.78% | -6.20% |
Max Drawdown (5Y)Largest decline over 5 years | -15.30% | -2.68% | -12.62% |
Max Drawdown (10Y)Largest decline over 10 years | -17.43% | -4.15% | -13.28% |
Current DrawdownCurrent decline from peak | -0.35% | -0.20% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -0.21% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.10% | +1.00% |
Volatility
VWINX vs. TRBUX - Volatility Comparison
Vanguard Wellesley Income Fund Investor Shares (VWINX) has a higher volatility of 1.63% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.61%. This indicates that VWINX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWINX | TRBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 0.61% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.92% | 1.19% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.20% | 1.74% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.99% | 1.69% | +5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 1.51% | +5.42% |
VWINX vs. TRBUX - Expense Ratio Comparison
VWINX has a 0.22% expense ratio, which is lower than TRBUX's 0.31% expense ratio.
Dividends
VWINX vs. TRBUX - Dividend Comparison
VWINX's dividend yield for the trailing twelve months is around 7.78%, more than TRBUX's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 6.04% | 6.23% | 6.36% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
VWINX Vanguard Wellesley Income Fund Investor Shares | 7.78% | 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 TRBUX have a correlation of 0.22, 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 TRBUX (0.61%). In terms of maximum drawdown, VWINX dropped -21.72% vs TRBUX's -4.15%.
TRBUX currently has the higher Sharpe Ratio (3.69 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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