VWNAX vs. VBTIX
VWNAX (Vanguard Windsor II Fund Admiral Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both mutual funds - VWNAX is a Large Cap Value Equities fund managed by Vanguard, while VBTIX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VWNAX returned 12.75%/yr vs 1.56%/yr for VBTIX. At a correlation of -0.19, they often move in opposite directions. VWNAX charges 0.26%/yr vs 0.04%/yr for VBTIX.
Performance
VWNAX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VWNAX achieves a 6.13% return, which is significantly higher than VBTIX's 0.22% return. Over the past 10 years, VWNAX has outperformed VBTIX with an annualized return of 12.75%, while VBTIX has yielded a comparatively lower 1.56% annualized return.
VWNAX
- 1D
- -0.92%
- 1M
- 0.79%
- YTD
- 6.13%
- 6M
- 7.25%
- 1Y
- 22.57%
- 3Y*
- 17.25%
- 5Y*
- 10.21%
- 10Y*
- 12.75%
VBTIX
- 1D
- -0.21%
- 1M
- 0.14%
- YTD
- 0.22%
- 6M
- 0.35%
- 1Y
- 4.48%
- 3Y*
- 3.99%
- 5Y*
- 0.11%
- 10Y*
- 1.56%
VWNAX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWNAX Vanguard Windsor II Fund Admiral Shares | 6.13% | 18.64% | 13.99% | 21.10% | -13.18% | 28.95% | 14.49% | 29.16% | -8.57% | 15.67% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.22% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VWNAX and VBTIX is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since May 15, 2001 | -0.19 |
The correlation between VWNAX and VBTIX shifts across timeframes, from -0.19 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VWNAX vs. VBTIX — Risk / Return Rank
VWNAX
VBTIX
VWNAX vs. VBTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Windsor II Fund Admiral Shares (VWNAX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.
| VWNAX | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 1.79 | +1.12 |
| Martin ratioReturn relative to average drawdown | 11.84 | 5.35 | +6.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VWNAX | VBTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.30 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.02 | +0.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.31 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.94 | -0.48 |
Drawdowns
VWNAX vs. VBTIX - Drawdown Comparison
The maximum VWNAX drawdown since its inception was -57.51%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VWNAX and VBTIX.
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Drawdown Indicators
| VWNAX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.51% | -18.90% | -38.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.85% | -2.89% | -4.96% |
Max Drawdown (3Y)Largest decline over 3 years | -21.77% | -5.99% | -15.78% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -18.13% | -4.57% |
Max Drawdown (10Y)Largest decline over 10 years | -37.42% | -18.90% | -18.52% |
Current DrawdownCurrent decline from peak | -1.06% | -2.45% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -8.99% | -2.32% | -6.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 0.96% | +0.96% |
Volatility
VWNAX vs. VBTIX - Volatility Comparison
Vanguard Windsor II Fund Admiral Shares (VWNAX) has a higher volatility of 2.48% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 1.33%. This indicates that VWNAX's price experiences larger fluctuations and is considered to be riskier than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWNAX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 1.33% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 2.78% | +5.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.08% | 3.96% | +7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.01% | 6.02% | +10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 4.98% | +13.40% |
VWNAX vs. VBTIX - Expense Ratio Comparison
VWNAX has a 0.26% expense ratio, which is higher than VBTIX's 0.04% 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
VWNAX vs. VBTIX - Dividend Comparison
VWNAX's dividend yield for the trailing twelve months is around 10.89%, more than VBTIX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 4.00% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
VWNAX Vanguard Windsor II Fund Admiral Shares | 10.89% | 11.55% | 10.59% | 5.19% | 7.36% | 7.92% | 7.39% | 10.15% | 11.48% | 7.38% | 8.17% | 8.05% |
Frequently Asked Questions
VWNAX and VBTIX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWNAX has higher volatility (2.48%) compared to VBTIX (1.33%). In terms of maximum drawdown, VWNAX dropped -57.51% vs VBTIX's -18.90%.
VWNAX currently has the higher Sharpe Ratio (2.06 vs 1.30), 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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