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VWINX vs. VTINX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VWINX vs. VTINX

Last updated Jun 7, 2026

VWINX (Vanguard Wellesley Income Fund Investor Shares) and VTINX (Vanguard Target Retirement Income Fund) are both mutual funds - VWINX is a Diversified Portfolio fund actively managed by Vanguard, while VTINX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, VWINX returned 5.79%/yr vs 5.28%/yr for VTINX. Their correlation of 0.89 suggests significant overlap in exposure. VWINX charges 0.22%/yr vs 0.08%/yr for VTINX.

Performance

VWINX vs. VTINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellesley Income Fund Investor Shares (VWINX) and Vanguard Target Retirement Income Fund (VTINX). 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 3.40% return, which is significantly lower than VTINX's 4.40% return. Over the past 10 years, VWINX has outperformed VTINX with an annualized return of 5.79%, while VTINX has yielded a comparatively lower 5.28% annualized return.

VWINX

1D
0.15%
1M
0.89%
YTD
3.40%
6M
3.53%
1Y
11.07%
3Y*
8.88%
5Y*
4.02%
10Y*
5.79%

VTINX

1D
0.14%
1M
0.63%
YTD
4.40%
6M
4.68%
1Y
11.77%
3Y*
9.41%
5Y*
4.12%
10Y*
5.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VWINX vs. VTINX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VWINX
Vanguard Wellesley Income Fund Investor Shares		3.40%10.98%5.86%6.99%-9.09%8.48%8.44%16.39%-2.54%9.29%
VTINX
Vanguard Target Retirement Income Fund		4.40%11.31%6.66%10.66%-12.75%5.24%10.02%13.16%-1.98%7.46%

Correlation

The correlation between VWINX and VTINX is 0.79, 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

0.79

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

0.84

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

0.86

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

0.85

Correlation (All Time)
Calculated using the full available price history since Oct 28, 2003

0.89

The correlation between VWINX and VTINX has been stable across timeframes, ranging from 0.79 to 0.89 - a consistent structural relationship.

VWINX vs. VTINX - Sectors Allocation Comparison

Sectors
VWINX
VTINX

Financial Services

7.9%
16.1%

Healthcare

5.7%
8.3%

Technology

4.2%
27.4%

Industrials

3.6%
12.3%

Consumer Defensive

3.6%
4.8%

Utilities

3.6%
2.7%

Energy

3.1%
4.3%

Consumer Cyclical

1.9%
9.4%

Basic Materials

1.4%
4.3%

Real Estate

1.1%
2.5%

Communication Services

1.1%
8.0%

Financial Services

VWINX
7.9%
VTINX
16.1%

Healthcare

VWINX
5.7%
VTINX
8.3%

Technology

VWINX
4.2%
VTINX
27.4%

Industrials

VWINX
3.6%
VTINX
12.3%

Consumer Defensive

VWINX
3.6%
VTINX
4.8%

Utilities

VWINX
3.6%
VTINX
2.7%

Energy

VWINX
3.1%
VTINX
4.3%

Consumer Cyclical

VWINX
1.9%
VTINX
9.4%

Basic Materials

VWINX
1.4%
VTINX
4.3%

Real Estate

VWINX
1.1%
VTINX
2.5%

Communication Services

VWINX
1.1%
VTINX
8.0%

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Vanguard Wellesley Income Fund Investor Shares

Vanguard Target Retirement Income Fund

Often compared with VWINX:
VWINX vs. VWELXVWINX vs. VWENXVWINX vs. VSCGXVWINX vs. SCHDVWINX vs. FFANXVWINX vs. VYMVWINX vs. VEIPX
Often compared with VTINX:
VTINX vs. FIKFXVTINX vs. VSCGXVTINX vs. VTWNXVTINX vs. VBTIXVTINX vs. IRTRVTINX vs. SWBRXVTINX vs. VOO

Return for Risk

VWINX vs. VTINX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VWINX
VWINX Risk / Return Rank: 5353
Overall Rank
VWINX Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
VWINX Sortino Ratio Rank: 5757
Sortino Ratio Rank
VWINX Omega Ratio Rank: 5555
Omega Ratio Rank
VWINX Calmar Ratio Rank: 5050
Calmar Ratio Rank
VWINX Martin Ratio Rank: 5050
Martin Ratio Rank
VTINX
VTINX Risk / Return Rank: 6868
Overall Rank
VTINX Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VTINX Sortino Ratio Rank: 7373
Sortino Ratio Rank
VTINX Omega Ratio Rank: 7373
Omega Ratio Rank
VTINX Calmar Ratio Rank: 5757
Calmar Ratio Rank
VTINX 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. VTINX - Risk-Adjusted Trends Comparison

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

VWINXVTINXDifference
Sharpe ratioReturn per unit of total volatility
2.13
2.36

-0.23

Sortino ratioReturn per unit of downside risk
3.07
3.47

-0.40

Omega ratioGain probability vs. loss probability

1.39

1.47

-0.07

Calmar ratioReturn relative to maximum drawdown

2.61

2.79

-0.18

Martin ratioReturn relative to average drawdown

9.82

12.31

-2.49

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. VTINX - Sharpe Ratio Comparison

The current VWINX Sharpe Ratio is 2.13, which is comparable to the VTINX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of VWINX and VTINX, 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

VWINXVTINXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.13

2.36

-0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.58

0.68

-0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

0.92

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

1.08

0.93

+0.15

Drawdowns

VWINX vs. VTINX - Drawdown Comparison

The maximum VWINX drawdown since its inception was -21.72%, which is greater than VTINX's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for VWINX and VTINX.

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Drawdown Indicators

VWINXVTINXDifference

Max Drawdown

Largest peak-to-trough decline

-21.72%

-19.96%

-1.76%

Max Drawdown (1Y)

Largest decline over 1 year

-4.16%

-4.14%

-0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-6.98%

-5.26%

-1.72%

Max Drawdown (5Y)

Largest decline over 5 years

-15.30%

-17.02%

+1.72%

Max Drawdown (10Y)

Largest decline over 10 years

-17.43%

-17.02%

-0.41%

Current Drawdown

Current decline from peak

-0.15%

-0.28%

+0.13%

Average Drawdown

Average peak-to-trough decline

-2.63%

-2.20%

-0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.10%

0.94%

+0.16%

Volatility

VWINX vs. VTINX - Volatility Comparison

The current volatility for Vanguard Wellesley Income Fund Investor Shares (VWINX) is 1.59%, while Vanguard Target Retirement Income Fund (VTINX) has a volatility of 1.79%. This indicates that VWINX experiences smaller price fluctuations and is considered to be less risky than VTINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VWINXVTINXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.59%

1.79%

-0.20%

Volatility (6M)

Calculated over the trailing 6-month period

3.85%

4.03%

-0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

5.10%

4.90%

+0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.97%

6.06%

+0.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.92%

5.73%

+1.19%

VWINX vs. VTINX - Expense Ratio Comparison

VWINX has a 0.22% expense ratio, which is higher than VTINX's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VWINX vs. VTINX - Dividend Comparison

VWINX's dividend yield for the trailing twelve months is around 7.69%, more than VTINX's 4.82% yield.

PositionTTM20252024202320222021202020192018201720162015
VTINX
Vanguard Target Retirement Income Fund		4.82%5.02%5.89%4.01%3.08%8.63%3.42%2.62%4.19%1.56%2.27%3.53%
VWINX
Vanguard Wellesley Income Fund Investor Shares		7.69%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 VTINX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VTINX has higher volatility (1.79%) compared to VWINX (1.59%). In terms of maximum drawdown, VWINX dropped -21.72% vs VTINX's -19.96%.

VTINX currently has the higher Sharpe Ratio (2.36 vs 2.13), 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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