VWNDX vs. VWELX

Last updated Jun 25, 2026

VWNDX (Vanguard Windsor Fund Investor Shares) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - VWNDX is a Large Cap Value Equities fund managed by Vanguard, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, VWNDX returned 12.24%/yr vs 10.21%/yr for VWELX. Their correlation of 0.87 suggests significant overlap in exposure. VWNDX charges 0.30%/yr vs 0.24%/yr for VWELX.

Performance

VWNDX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Windsor Fund Investor Shares (VWNDX) and Vanguard Wellington Fund Investor Shares (VWELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWNDX achieves a 6.88% return, which is significantly higher than VWELX's 5.08% return. Over the past 10 years, VWNDX has outperformed VWELX with an annualized return of 12.24%, while VWELX has yielded a comparatively lower 10.21% annualized return.

VWNDX

• 1D: -0.13%
• 1M: 0.36%
• YTD: 6.88%
• 6M: 5.77%
• 1Y: 18.45%
• 3Y*: 13.91%
• 5Y*: 9.60%
• 10Y*: 12.24%

VWELX

• 1D: -0.96%
• 1M: -0.56%
• YTD: 5.08%
• 6M: 4.22%
• 1Y: 16.43%
• 3Y*: 14.70%
• 5Y*: 8.35%
• 10Y*: 10.21%

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

VWNDX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWNDX Vanguard Windsor Fund Investor Shares	6.88%	13.30%	9.53%	15.00%	-3.15%	27.77%	7.38%	30.39%	-12.48%	18.15%
VWELX Vanguard Wellington Fund Investor Shares	5.08%	16.54%	14.73%	14.29%	-14.36%	18.99%	10.57%	22.51%	-3.43%	13.98%

Correlation

The correlation between VWNDX and VWELX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 2, 1980	0.87

The correlation between VWNDX and VWELX shifts across timeframes, from 0.68 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VWNDX vs. VWELX — Risk / Return Rank

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

VWNDX

VWNDX Risk / Return Rank: 39
VWNDX Sharpe Ratio Rank: 35
VWNDX Sortino Ratio Rank: 36
VWNDX Omega Ratio Rank: 33
VWNDX Calmar Ratio Rank: 46
VWNDX Martin Ratio Rank: 44

VWELX

VWELX Risk / Return Rank: 53
VWELX Sharpe Ratio Rank: 52
VWELX Sortino Ratio Rank: 49
VWELX Omega Ratio Rank: 51
VWELX Calmar Ratio Rank: 50
VWELX Martin Ratio Rank: 63

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.

VWNDX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Windsor Fund Investor Shares (VWNDX) and Vanguard Wellington Fund Investor Shares (VWELX). 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.

	VWNDX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.95	-0.38
Sortino ratio: Return per unit of downside risk	2.29	2.72	-0.43
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.48	2.58	-0.10
Martin ratio: Return relative to average drawdown	8.73	11.59	-2.85

VWNDX vs. VWELX - Sharpe Ratio Comparison

The current VWNDX Sharpe Ratio is 1.56, which is comparable to the VWELX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of VWNDX and VWELX, 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

VWNDX vs. VWELX - Drawdown Comparison

The maximum VWNDX drawdown since its inception was -61.48%, which is greater than VWELX's maximum drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for VWNDX and VWELX.

Drawdown Indicators

	VWNDX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-61.48%	-36.12%	-25.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-6.78%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-21.69%	-11.98%	-9.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.69%	-20.88%	-0.81%
Max Drawdown (10Y) Largest decline over 10 years	-40.12%	-25.33%	-14.79%
Current Drawdown Current decline from peak	-2.11%	-1.90%	-0.21%
Average Drawdown Average peak-to-trough decline	-8.91%	-3.92%	-4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.51%	+0.72%

Volatility

VWNDX vs. VWELX - Volatility Comparison

Vanguard Windsor Fund Investor Shares (VWNDX) and Vanguard Wellington Fund Investor Shares (VWELX) have volatilities of 3.62% and 3.70%, 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

	VWNDX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	3.70%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	7.37%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	9.01%	+3.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.33%	11.22%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	11.54%	+8.03%

VWNDX vs. VWELX - Expense Ratio Comparison

VWNDX has a 0.30% expense ratio, which is higher than VWELX's 0.24% expense ratio.

Dividends

VWNDX vs. VWELX - Dividend Comparison

VWNDX's dividend yield for the trailing twelve months is around 7.17%, less than VWELX's 11.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VWELX Vanguard Wellington Fund Investor Shares	11.01%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%
VWNDX Vanguard Windsor Fund Investor Shares	7.17%	7.78%	12.48%	8.24%	15.38%	11.46%	8.37%	10.26%	13.15%	3.51%	4.89%	8.51%

Frequently Asked Questions

Can I hold both VWNDX and VWELX in my portfolio?

VWNDX and VWELX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWNDX or VWELX?

VWELX has higher volatility (3.70%) compared to VWNDX (3.62%). In terms of maximum drawdown, VWNDX dropped -61.48% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

VWELX currently has the higher Sharpe Ratio (1.95 vs 1.56), 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.