WIORX vs. VMSAX

Last updated Apr 1, 2026

Compare and contrast key facts about Wilshire Income Opportunities Fund (WIORX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX).

WIORX is managed by Wilshire Mutual Funds. It was launched on Mar 29, 2016. VMSAX is an actively managed fund by Vanguard. It was launched on Oct 12, 2021.

Performance

WIORX vs. VMSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wilshire Income Opportunities Fund (WIORX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX). The values are adjusted to include any dividend payments, if applicable.

WIORX vs. VMSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WIORX Wilshire Income Opportunities Fund	-0.88%	7.18%	3.49%	6.35%	-9.75%
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares	-0.99%	9.08%	6.86%	10.53%	-8.42%

Returns By Period

In the year-to-date period, WIORX achieves a -0.88% return, which is significantly higher than VMSAX's -0.99% return.

WIORX

• 1D: 0.33%
• 1M: -2.38%
• YTD: -0.88%
• 6M: -0.12%
• 1Y: 4.13%
• 3Y*: 4.57%
• 5Y*: 0.93%
• 10Y*: —

VMSAX

• 1D: 0.22%
• 1M: -1.98%
• YTD: -0.99%
• 6M: 0.66%
• 1Y: 6.00%
• 3Y*: 7.21%
• 5Y*: —
• 10Y*: —

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

WIORX vs. VMSAX - Expense Ratio Comparison

WIORX has a 1.15% expense ratio, which is higher than VMSAX's 0.30% expense ratio.

WIORX

Wilshire Income Opportunities Fund

VMSAX

Vanguard Multi-Sector Income Bond Fund Admiral Shares

Return for Risk

WIORX vs. VMSAX — Risk / Return Rank

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

WIORX

WIORX Risk / Return Rank: 74
WIORX Sharpe Ratio Rank: 77
WIORX Sortino Ratio Rank: 79
WIORX Omega Ratio Rank: 72
WIORX Calmar Ratio Rank: 71
WIORX Martin Ratio Rank: 72

VMSAX

VMSAX Risk / Return Rank: 35
VMSAX Sharpe Ratio Rank: 6
VMSAX Sortino Ratio Rank: 44
VMSAX Omega Ratio Rank: 98
VMSAX Calmar Ratio Rank: 8
VMSAX Martin Ratio Rank: 17

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.

WIORX vs. VMSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wilshire Income Opportunities Fund (WIORX) and Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX). 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.

	WIORX	VMSAX	Difference
Sharpe ratio Return per unit of total volatility	1.42	0.05	+1.37
Sortino ratio Return per unit of downside risk	2.03	1.32	+0.71
Omega ratio Gain probability vs. loss probability	1.27	2.07	-0.80
Calmar ratio Return relative to maximum drawdown	1.65	0.11	+1.54
Martin ratio Return relative to average drawdown	6.87	1.75	+5.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WIORX vs. VMSAX - Sharpe Ratio Comparison

The current WIORX Sharpe Ratio is 1.42, which is higher than the VMSAX Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of WIORX and VMSAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WIORX	VMSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	0.05	+1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.06	+0.58

Correlation

The correlation between WIORX and VMSAX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WIORX vs. VMSAX - Dividend Comparison

WIORX's dividend yield for the trailing twelve months is around 3.31%, less than VMSAX's 5.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
WIORX Wilshire Income Opportunities Fund	3.31%	4.48%	4.38%	2.79%	3.40%	3.49%	3.79%	3.75%	3.06%	4.46%
VMSAX Vanguard Multi-Sector Income Bond Fund Admiral Shares	5.17%	5.66%	6.48%	5.52%	3.76%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

WIORX vs. VMSAX - Drawdown Comparison

The maximum WIORX drawdown since its inception was -15.02%, smaller than the maximum VMSAX drawdown of -54.84%. Use the drawdown chart below to compare losses from any high point for WIORX and VMSAX.

Drawdown Indicators

	WIORX	VMSAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.02%	-54.84%	+39.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-54.84%	+52.13%
Max Drawdown (5Y) Largest decline over 5 years	-15.02%	—	—
Current Drawdown Current decline from peak	-2.38%	-2.03%	-0.35%
Average Drawdown Average peak-to-trough decline	-3.23%	-3.21%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	3.50%	-2.85%

Volatility

WIORX vs. VMSAX - Volatility Comparison

Wilshire Income Opportunities Fund (WIORX) has a higher volatility of 1.32% compared to Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) at 1.19%. This indicates that WIORX's price experiences larger fluctuations and is considered to be riskier than VMSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WIORX	VMSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.19%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	1.89%	112.83%	-110.94%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	133.59%	-130.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	65.65%	-61.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.73%	65.65%	-61.92%