VWNFX vs. VBTLX
VWNFX (Vanguard Windsor II Fund Investor Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VWNFX is a Large Cap Value Equities fund actively managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. VWNFX is actively managed, while VBTLX is passively managed. Over the past 10 years, VWNFX returned 12.88%/yr vs 1.30%/yr for VBTLX. Their -0.19 correlation means they have often moved in opposite directions in the past. VWNFX charges 0.33%/yr vs 0.04%/yr for VBTLX.
Performance
VWNFX vs. VBTLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VWNFX achieves a 10.48% return, which is significantly higher than VBTLX's -0.70% return. Over the past 10 years, VWNFX has outperformed VBTLX with an annualized return of 12.88%, while VBTLX has yielded a comparatively lower 1.30% annualized return.
VWNFX
- 1D
- 0.29%
- 1M
- 1.96%
- 6M
- 7.51%
- YTD
- 10.48%
- 1Y
- 23.96%
- 3Y*
- 16.10%
- 5Y*
- 10.81%
- 10Y*
- 12.88%
- ALL TIME*
- 10.84%
VBTLX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.70%
- 1Y
- 1.67%
- 3Y*
- 3.69%
- 5Y*
- -0.45%
- 10Y*
- 1.30%
- ALL TIME*
- 3.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VWNFX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWNFX Vanguard Windsor II Fund Investor Shares | 10.48% | 18.51% | 13.91% | 21.01% | -13.26% | 28.84% | 14.41% | 29.02% | -8.62% | 15.61% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.70% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VWNFX and VBTLX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | -0.19 |
The correlation between VWNFX and VBTLX shifts across timeframes, from -0.19 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VWNFX vs. VBTLX — Risk / Return Rank
VWNFX
VBTLX
VWNFX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Windsor II Fund Investor Shares (VWNFX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VWNFX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.13 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 0.99 | +1.75 |
| Martin ratioReturn relative to average drawdown | 11.17 | 2.48 | +8.69 |
Loading charts...
Drawdowns
VWNFX vs. VBTLX - Drawdown Comparison
The maximum VWNFX drawdown since its inception was -57.57%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VWNFX and VBTLX.
Loading charts...
Drawdown Indicators
| VWNFX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.57% | -18.81% | -38.76% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -2.89% | -4.97% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -4.86% | -16.90% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -18.14% | -4.58% |
Max Drawdown (10Y)Largest decline over 10 years | -37.44% | -18.81% | -18.63% |
Current DrawdownCurrent decline from peak | -0.33% | -3.27% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -2.67% | -4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 1.15% | +0.78% |
Volatility
VWNFX vs. VBTLX - Volatility Comparison
Vanguard Windsor II Fund Investor Shares (VWNFX) has a higher volatility of 3.36% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 0.96%. This indicates that VWNFX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VWNFX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 0.96% | +2.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 2.97% | +5.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.51% | 3.82% | +7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 6.01% | +10.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 4.98% | +13.55% |
VWNFX vs. VBTLX - Expense Ratio Comparison
VWNFX has a 0.33% expense ratio, which is higher than VBTLX's 0.04% expense ratio.
Dividends
VWNFX vs. VBTLX - Dividend Comparison
VWNFX's dividend yield for the trailing twelve months is around 10.37%, more than VBTLX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.72% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VWNFX Vanguard Windsor II Fund Investor Shares | 10.37% | 11.46% | 10.50% | 5.11% | 7.26% | 7.83% | 7.31% | 10.06% | 11.38% | 7.34% | 8.08% | 7.96% |
Frequently Asked Questions
VWNFX and VBTLX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWNFX has higher volatility (3.36%) compared to VBTLX (0.96%). In terms of maximum drawdown, VWNFX dropped -57.57% vs VBTLX's -18.81%.
VWNFX currently has the higher Sharpe Ratio (1.88 vs 0.75), 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.
Find the right allocation for VWNFX and VBTLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer