VWINX vs. XYLD

Last updated Jun 20, 2026

VWINX (Vanguard Wellesley Income Fund Investor Shares) and XYLD (Global X S&P 500 Covered Call ETF) are both funds - VWINX is a Diversified Portfolio fund actively managed by Vanguard, while XYLD is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite Index. VWINX is actively managed, while XYLD is passively managed. Over the past 10 years, VWINX returned 5.77%/yr vs 8.33%/yr for XYLD. A 0.58 correlation means they provide meaningful diversification when combined. VWINX charges 0.22%/yr vs 0.60%/yr for XYLD.

Performance

VWINX vs. XYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellesley Income Fund Investor Shares (VWINX) and Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWINX achieves a 3.39% return, which is significantly lower than XYLD's 5.52% return. Over the past 10 years, VWINX has underperformed XYLD with an annualized return of 5.77%, while XYLD has yielded a comparatively higher 8.33% annualized 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%

XYLD

• 1D: 0.27%
• 1M: 1.69%
• YTD: 5.52%
• 6M: 5.95%
• 1Y: 17.23%
• 3Y*: 11.48%
• 5Y*: 7.73%
• 10Y*: 8.33%

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

VWINX vs. XYLD - 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%
XYLD Global X S&P 500 Covered Call ETF	5.52%	8.02%	19.49%	11.10%	-12.05%	19.59%	-0.56%	21.41%	-6.09%	16.49%

Correlation

The correlation between VWINX and XYLD is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jun 24, 2013	0.58

The correlation between VWINX and XYLD has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

Return for Risk

VWINX vs. XYLD — Risk / Return Rank

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

VWINX

VWINX Risk / Return Rank: 56
VWINX Sharpe Ratio Rank: 60
VWINX Sortino Ratio Rank: 63
VWINX Omega Ratio Rank: 58
VWINX Calmar Ratio Rank: 51
VWINX Martin Ratio Rank: 51

XYLD

XYLD Risk / Return Rank: 83
XYLD Sharpe Ratio Rank: 84
XYLD Sortino Ratio Rank: 86
XYLD Omega Ratio Rank: 92
XYLD Calmar Ratio Rank: 69
XYLD Martin Ratio Rank: 86

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. XYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellesley Income Fund Investor Shares (VWINX) and Global X S&P 500 Covered Call ETF (XYLD). 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	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.54	-0.52
Sortino ratio: Return per unit of downside risk	2.92	3.62	-0.70
Omega ratio: Gain probability vs. loss probability	1.37	1.59	-0.22
Calmar ratio: Return relative to maximum drawdown	2.53	3.27	-0.74
Martin ratio: Return relative to average drawdown	9.52	17.16	-7.65

VWINX vs. XYLD - Sharpe Ratio Comparison

The current VWINX Sharpe Ratio is 2.03, which is comparable to the XYLD Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of VWINX and XYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VWINX vs. XYLD - Drawdown Comparison

The maximum VWINX drawdown since its inception was -21.72%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for VWINX and XYLD.

Drawdown Indicators

	VWINX	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-21.72%	-33.46%	+11.74%
Max Drawdown (1Y) Largest decline over 1 year	-4.16%	-5.29%	+1.13%
Max Drawdown (3Y) Largest decline over 3 years	-6.98%	-15.53%	+8.55%
Max Drawdown (5Y) Largest decline over 5 years	-15.30%	-18.66%	+3.36%
Max Drawdown (10Y) Largest decline over 10 years	-17.43%	-33.46%	+16.03%
Current Drawdown Current decline from peak	-0.35%	0.00%	-0.35%
Average Drawdown Average peak-to-trough decline	-2.63%	-3.71%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.01%	+0.09%

Volatility

VWINX vs. XYLD - Volatility Comparison

The current volatility for Vanguard Wellesley Income Fund Investor Shares (VWINX) is 1.63%, while Global X S&P 500 Covered Call ETF (XYLD) has a volatility of 2.21%. This indicates that VWINX experiences smaller price fluctuations and is considered to be less risky than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWINX	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	2.21%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	3.92%	5.76%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	5.20%	6.80%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.99%	11.26%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.93%	14.22%	-7.29%

VWINX vs. XYLD - Expense Ratio Comparison

VWINX has a 0.22% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

VWINX vs. XYLD - Dividend Comparison

VWINX's dividend yield for the trailing twelve months is around 8.64%, less than XYLD's 10.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XYLD Global X S&P 500 Covered Call ETF	10.46%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both VWINX and XYLD in my portfolio?

VWINX and XYLD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWINX or XYLD?

XYLD has higher volatility (2.21%) compared to VWINX (1.63%). In terms of maximum drawdown, VWINX dropped -21.72% vs XYLD's -33.46%.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.54 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.