VWINX vs. VGWIX

Last updated Jun 4, 2026

VWINX (Vanguard Wellesley Income Fund Investor Shares) and VGWIX (Vanguard Global Wellesley Income Fund Investor Shares) are both Diversified Portfolio funds from Vanguard. Over the past 5 years, VWINX returned 4.14%/yr vs 4.93%/yr for VGWIX. Their correlation of 0.91 suggests significant overlap in exposure. VWINX charges 0.23%/yr vs 0.41%/yr for VGWIX.

Performance

VWINX vs. VGWIX - Performance Comparison

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

Returns By Period

In the year-to-date period, VWINX achieves a 3.55% return, which is significantly lower than VGWIX's 4.05% 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%

VGWIX

• 1D: 0.21%
• 1M: 1.17%
• YTD: 4.05%
• 6M: 4.76%
• 1Y: 11.12%
• 3Y*: 9.73%
• 5Y*: 4.93%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VWINX vs. VGWIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	1.52%
VGWIX Vanguard Global Wellesley Income Fund Investor Shares	4.05%	13.18%	6.02%	8.78%	-8.15%	6.41%	5.41%	13.82%	-4.38%	0.94%

Correlation

The correlation between VWINX and VGWIX is 0.90, 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	0.90
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 19, 2017	0.91

The correlation between VWINX and VGWIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

VWINX vs. VGWIX - Sectors Allocation Comparison

Sectors	VWINX	VGWIX
Financial Services	7.9%	29.7%
Healthcare	5.7%	11.7%
Technology	4.2%	7.5%
Industrials	3.6%	6.5%
Consumer Defensive	3.6%	8.3%
Utilities	3.6%	9.1%
Energy	3.1%	8.6%
Consumer Cyclical	1.9%	8.7%
Basic Materials	1.4%	1.3%
Real Estate	1.1%	3.0%
Communication Services	1.1%	5.6%

Return for Risk

VWINX vs. VGWIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWINX

VWINX Risk / Return Rank: 57
VWINX Sharpe Ratio Rank: 61
VWINX Sortino Ratio Rank: 62
VWINX Omega Ratio Rank: 58
VWINX Calmar Ratio Rank: 54
VWINX Martin Ratio Rank: 52

VGWIX

VGWIX Risk / Return Rank: 52
VGWIX Sharpe Ratio Rank: 57
VGWIX Sortino Ratio Rank: 58
VGWIX Omega Ratio Rank: 60
VGWIX Calmar Ratio Rank: 41
VGWIX Martin Ratio Rank: 44

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. VGWIX - Risk-Adjusted Trends Comparison

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

	VWINX	VGWIX	Difference
Sharpe ratio Return per unit of total volatility	2.29	2.22	+0.07
Sortino ratio Return per unit of downside risk	3.30	3.21	+0.10
Omega ratio Gain probability vs. loss probability	1.42	1.43	-0.01
Calmar ratio Return relative to maximum drawdown	2.81	2.44	+0.37
Martin ratio Return relative to average drawdown	10.57	9.26	+1.31
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. VGWIX - Sharpe Ratio Comparison

The current VWINX Sharpe Ratio is 2.29, which is comparable to the VGWIX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of VWINX and VGWIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VWINX	VGWIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.22	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.79	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.75	+0.33

Drawdowns

VWINX vs. VGWIX - Drawdown Comparison

The maximum VWINX drawdown since its inception was -21.72%, which is greater than VGWIX's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for VWINX and VGWIX.

Drawdown Indicators

	VWINX	VGWIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.72%	-17.74%	-3.98%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-4.59%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-6.98%	-5.35%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-15.30%	-15.95%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	-17.43%	—	—
Current Drawdown Current decline from peak	0.00%	-0.73%	+0.73%
Average Drawdown Average peak-to-trough decline	-2.63%	-2.69%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.21%	-0.11%

Volatility

VWINX vs. VGWIX - Volatility Comparison

Vanguard Wellesley Income Fund Investor Shares (VWINX) and Vanguard Global Wellesley Income Fund Investor Shares (VGWIX) have volatilities of 1.64% and 1.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWINX	VGWIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	1.57%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	4.14%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	5.09%	5.05%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.97%	6.24%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.92%	6.80%	+0.12%

VWINX vs. VGWIX - Expense Ratio Comparison

VWINX has a 0.23% expense ratio, which is lower than VGWIX's 0.41% expense ratio.

Dividends

VWINX vs. VGWIX - Dividend Comparison

VWINX's dividend yield for the trailing twelve months is around 7.68%, more than VGWIX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGWIX Vanguard Global Wellesley Income Fund Investor Shares	3.80%	3.88%	3.77%	3.03%	1.41%	2.27%	1.89%	2.17%	4.25%	0.29%	0.00%	0.00%
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

Can I hold both VWINX and VGWIX in my portfolio?

With a correlation of 0.90, VWINX and VGWIX 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.

Which is riskier, VWINX or VGWIX?

VWINX has higher volatility (1.64%) compared to VGWIX (1.57%). In terms of maximum drawdown, VWINX dropped -21.72% vs VGWIX's -17.74%.

Which has better risk-adjusted returns?

VWINX currently has the higher Sharpe Ratio (2.29 vs 2.22), 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.