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VWINX vs. VEIPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWINX vs. VEIPX

Last updated Jun 4, 2026

VWINX (Vanguard Wellesley Income Fund Investor Shares) and VEIPX (Vanguard Equity Income Fund Investor Shares) are both mutual funds - VWINX is a Diversified Portfolio fund managed by Vanguard, while VEIPX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, VWINX returned 5.81%/yr vs 11.85%/yr for VEIPX. Their correlation of 0.80 suggests significant overlap in exposure. VWINX charges 0.23%/yr vs 0.28%/yr for VEIPX.

Performance

VWINX vs. VEIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellesley Income Fund Investor Shares (VWINX) and Vanguard Equity Income Fund Investor Shares (VEIPX). 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 lower than VEIPX's 9.70% return. Over the past 10 years, VWINX has underperformed VEIPX with an annualized return of 5.81%, while VEIPX has yielded a comparatively higher 11.85% 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%

VEIPX

1D
0.79%
1M
2.94%
YTD
9.70%
6M
9.81%
1Y
23.43%
3Y*
17.52%
5Y*
11.01%
10Y*
11.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWINX vs. VEIPX - 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%
VEIPX
Vanguard Equity Income Fund Investor Shares		9.70%17.14%14.80%7.66%-0.16%25.41%2.97%25.21%-5.75%17.60%

Correlation

The correlation between VWINX and VEIPX is 0.87, 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

0.87

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

0.82

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

0.81

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

0.80

Correlation (All Time)
Calculated using the full available price history since Mar 22, 1988

0.80

The correlation between VWINX and VEIPX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

VWINX vs. VEIPX - Sectors Allocation Comparison

Sectors
VWINX
VEIPX

Financial Services

7.9%
20.5%

Healthcare

5.7%
14.8%

Technology

4.2%
13.0%

Industrials

3.6%
10.6%

Consumer Defensive

3.6%
9.4%

Utilities

3.6%
7.0%

Energy

3.1%
8.3%

Consumer Cyclical

1.9%
6.0%

Basic Materials

1.4%
3.4%

Real Estate

1.1%
1.9%

Communication Services

1.1%
2.9%

Financial Services

VWINX
7.9%
VEIPX
20.5%

Healthcare

VWINX
5.7%
VEIPX
14.8%

Technology

VWINX
4.2%
VEIPX
13.0%

Industrials

VWINX
3.6%
VEIPX
10.6%

Consumer Defensive

VWINX
3.6%
VEIPX
9.4%

Utilities

VWINX
3.6%
VEIPX
7.0%

Energy

VWINX
3.1%
VEIPX
8.3%

Consumer Cyclical

VWINX
1.9%
VEIPX
6.0%

Basic Materials

VWINX
1.4%
VEIPX
3.4%

Real Estate

VWINX
1.1%
VEIPX
1.9%

Communication Services

VWINX
1.1%
VEIPX
2.9%

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Vanguard Wellesley Income Fund Investor Shares

Vanguard Equity Income Fund Investor Shares

Often compared with VWINX:
VWINX vs. VWELXVWINX vs. VTINXVWINX vs. VWENXVWINX vs. VSCGXVWINX vs. SCHDVWINX vs. FFANXVWINX vs. VYM
Often compared with VEIPX:
VEIPX vs. VYMVEIPX vs. SCHDVEIPX vs. VHYAXVEIPX vs. VDIGXVEIPX vs. VWENXVEIPX vs. VFIAXVEIPX vs. VOO

Return for Risk

VWINX vs. VEIPX — 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
VEIPX
VEIPX Risk / Return Rank: 6767
Overall Rank
VEIPX Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VEIPX Sortino Ratio Rank: 6565
Sortino Ratio Rank
VEIPX Omega Ratio Rank: 6060
Omega Ratio Rank
VEIPX Calmar Ratio Rank: 7575
Calmar Ratio Rank
VEIPX Martin Ratio Rank: 6666
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. VEIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Investor Shares (VWINX) and Vanguard Equity Income Fund Investor Shares (VEIPX). 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.

VWINXVEIPXDifference
Sharpe ratioReturn per unit of total volatility
2.29
2.38

-0.09

Sortino ratioReturn per unit of downside risk
3.30
3.38

-0.07

Omega ratioGain probability vs. loss probability

1.42

1.43

-0.01

Calmar ratioReturn relative to maximum drawdown

2.81

3.42

-0.61

Martin ratioReturn relative to average drawdown

10.57

12.78

-2.20

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. VEIPX - Sharpe Ratio Comparison

The current VWINX Sharpe Ratio is 2.29, which is comparable to the VEIPX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of VWINX and VEIPX, 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

VWINXVEIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

2.38

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.80

-0.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

0.73

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

0.66

+0.43

Drawdowns

VWINX vs. VEIPX - Drawdown Comparison

The maximum VWINX drawdown since its inception was -21.72%, smaller than the maximum VEIPX drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for VWINX and VEIPX.

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Drawdown Indicators

VWINXVEIPXDifference

Max Drawdown

Largest peak-to-trough decline

-21.72%

-54.12%

+32.40%

Max Drawdown (1Y)

Largest decline over 1 year

-4.16%

-7.15%

+2.99%

Max Drawdown (3Y)

Largest decline over 3 years

-6.98%

-13.39%

+6.41%

Max Drawdown (5Y)

Largest decline over 5 years

-15.30%

-15.16%

-0.14%

Max Drawdown (10Y)

Largest decline over 10 years

-17.43%

-35.26%

+17.83%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-2.63%

-5.50%

+2.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.10%

1.91%

-0.81%

Volatility

VWINX vs. VEIPX - Volatility Comparison

The current volatility for Vanguard Wellesley Income Fund Investor Shares (VWINX) is 1.64%, while Vanguard Equity Income Fund Investor Shares (VEIPX) has a volatility of 2.83%. This indicates that VWINX experiences smaller price fluctuations and is considered to be less risky than VEIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWINXVEIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.64%

2.83%

-1.19%

Volatility (6M)

Calculated over the trailing 6-month period

3.89%

7.65%

-3.76%

Volatility (1Y)

Calculated over the trailing 1-year period

5.09%

10.25%

-5.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.97%

13.92%

-6.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.92%

16.30%

-9.38%

VWINX vs. VEIPX - Expense Ratio Comparison

VWINX has a 0.23% expense ratio, which is lower than VEIPX's 0.28% expense ratio.

Dividends

VWINX vs. VEIPX - Dividend Comparison

VWINX's dividend yield for the trailing twelve months is around 7.68%, less than VEIPX's 10.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VEIPX
Vanguard Equity Income Fund Investor Shares		10.03%10.94%9.74%7.87%8.69%7.62%2.77%4.36%10.87%2.98%3.78%6.39%
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 VEIPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEIPX has higher volatility (2.83%) compared to VWINX (1.64%). In terms of maximum drawdown, VWINX dropped -21.72% vs VEIPX's -54.12%.

VEIPX currently has the higher Sharpe Ratio (2.38 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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