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VWIAX Vanguard Wellesley® Income Admiral™

  • Fund
  • VWIAX
  • Price as of: Aug 08, 2016
  • $63.71
  • + $0.03
  • + 0.05%
  • Category
  • Diversified Portfolio

VWIAX - Profile

Vitals

  • YTD Return 7.3%
  • 3 Yr Annualized Return 7.4%
  • 5 Yr Annualized Return 8.5%
  • Net Assets $49 B
  • Holdings in Top 10 13.9%

52 WEEK LOW AND HIGH

$63.71
$57.98
$63.93

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.16%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 59.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--30% to 50% Equity

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return 7.4%
  • 5 Yr Annualized Total Return 8.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.03%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Vanguard Wellesley® Income Fund
  • Fund Family Name Vanguard
  • Inception Date May 14, 2001
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager John C. Keogh

Fund Description

The Vanguard Wellesley Income Fund Admiral Shares (VWIAX) is a low-cost, actively managed conservative-allocation fund that seeks to provide high current income, income growth as well as a reasonable amount of capital growth. The fund holds 60-65% of its assets in bonds and 35-40% in stocks, depending on market conditions. VWIAX primarily invests in large stocks of domestic firms that pay dividends and intermediate government and investment-grade corporate bonds. The fund uses risk management to create the best blend of these asset classes to provide steady growth of income.

Offering a blend of both stocks and bonds, VWIAX makes for a great core position for investors. The fund is managed by Wellington Management Company LLP.

VWIAX - Performance

Return Ranking - Trailing

Period VWIAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.3% -65.8% 22.5% 8.06% 1
1 Yr 9.7% -30.1% 18.0% 1.37% 1
3 Yr 7.4% * -14.0% 12.6% 7.51% 1
5 Yr 8.5% * -13.4% 12.2% 11.12% 1
10 Yr 7.5% * -5.6% 9.0% 2.63% 1

* Annualized


Return Ranking - Calendar

Period VWIAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -4.1% -61.2% 48.7% 23.80% 2
2014 2.9% -11.0% 4.5% 25.00% 2
2013 3.1% -11.5% 25.9% 59.26% 3
2012 5.1% 5.1% 15.7% 100.00% 5
2011 5.7% -7.3% 5.7% 7.14% 1

Total Return Ranking - Trailing

Period VWIAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.3% -65.8% 22.5% 8.16% 1
1 Yr 9.7% -30.1% 17.0% 1.01% 1
3 Yr 7.4% * -15.0% 12.6% 6.19% 1
5 Yr 8.5% * -13.7% 12.2% 9.41% 1
10 Yr 7.5% * -5.6% 9.0% 2.55% 1

* Annualized


Total Return Ranking - Calendar

Period VWIAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -4.1% -61.2% 48.7% 23.70% 2
2014 5.5% -11.0% 9.6% 21.43% 1
2013 10.0% -4.1% 29.6% 44.44% 3
2012 11.6% 7.8% 20.7% 66.67% 4
2011 11.7% -3.5% 11.7% 7.14% 1

NAV & Total Return History

VWIAX - Holdings

Filings data as of: Mar 31, 2016

Concentration Analysis

VWIAX Category Low Category High VWIAX % Rank Quintile
Net Assets 49 B 81.4 K 99.6 B 0.18% 1
Number of Holdings 1452 1 12089 2.29% 1
Net Assets in Top 10 6.13 B -654 M 19.5 B 0.59% 1
Weighting of Top 10 13.9% 0.0% 246.1% 28.15% 5

Top 10 Holdings

  1. Microsoft Corp 1.86%
  2. Wells Fargo & Co 1.38%
  3. US Treasury Note 1.75% 1.55%
  4. Merck & Co Inc 1.27%
  5. Johnson & Johnson 1.37%
  6. US Treasury Note 1.375% 1.53%
  7. US Treasury Note 1% 1.26%
  8. JPMorgan Chase & Co 1.20%
  9. General Electric Co 1.29%
  10. Exxon Mobil Corp 1.22%

Asset Allocation

Weighting Category Low Category High VWIAX % Rank Quintile
Bonds
59.47% -0.39% 98.35% 3.15% 1
Stocks
36.71% -3.90% 139.24% 20.65% 4
Cash
3.12% -80.76% 100.06% 23.20% 5
Other
0.70% -9.98% 131.62% 14.65% 4
Convertible Bonds
0.00% 0.00% 33.12% 6.86% 5
Preferred Stocks
0.00% -0.04% 36.35% 9.11% 5

Stock Sector Breakdown

Weighting Category Low Category High VWIAX % Rank Quintile
Technology
5.10% -11.24% 86.30% 16.76% 4
Healthcare
5.04% -0.78% 26.13% 15.27% 3
Consumer Defense
4.89% -6.80% 33.05% 9.33% 2
Financial Services
4.88% -5.44% 81.82% 17.55% 4
Industrials
4.55% -4.76% 59.46% 15.46% 3
Energy
4.49% -3.72% 31.87% 7.15% 2
Utilities
3.79% -6.48% 56.47% 3.16% 1
Communication Services
1.75% -2.19% 32.13% 9.89% 3
Consumer Cyclical
1.23% -6.71% 67.05% 22.38% 5
Basic Materials
1.00% -3.08% 25.70% 14.16% 4
Real Estate
0.00% -2.11% 51.75% 19.31% 5

Stock Geographic Breakdown

Weighting Category Low Category High VWIAX % Rank Quintile
US
30.69% -123.16% 136.63% 18.03% 3
Non US
6.02% -2.43% 163.55% 18.67% 4

Bond Sector Breakdown

Weighting Category Low Category High VWIAX % Rank Quintile
Corporate
41.09% 0.00% 93.84% 2.43% 1
Government
10.83% -160.96% 76.37% 11.81% 2
Securitized
5.71% -0.01% 42.26% 13.55% 3
Cash & Equivalents
3.12% -80.82% 157.26% 22.70% 4
Municipal
1.81% 0.00% 137.36% 2.38% 1
Derivative
0.00% -84.53% 22.60% 2.97% 4

Bond Geographic Breakdown

Weighting Category Low Category High VWIAX % Rank Quintile
US
48.08% -31.85% 93.68% 3.71% 1
Non US
11.39% -57.44% 70.46% 4.81% 1

VWIAX - Expenses

Operational Fees

VWIAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.16% 0.00% 165.34% 18.36% 1
Management Fee 0.15% 0.00% 2.55% 4.95% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.83% N/A N/A

Sales Fees

VWIAX Fees (% of AUM) Category Low Category High VWIAX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

VWIAX Fees (% of AUM) Category Low Category High VWIAX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VWIAX Fees (% of AUM) Category Low Category High VWIAX Rank Quintile
Turnover 59.00% 0.00% 5473.00% 9.97% 3

VWIAX - Distributions

Dividend Yield Analysis

VWIAX Category Low Category High VWIAX % Rank Quintile
Dividend Yield 1.8% 0.00% 11.33% 0.33% 1

Dividend Distribution Analysis

VWIAX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

VWIAX Category Low Category High VWIAX % Rank Quintile
Net Income Ratio 3.03% -2.96% 9.94% 5.77% 1

Capital Gain Distribution Analysis

VWIAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

VWIAX - Managers

John C. Keogh

Lead Manager

Start Date

Feb 14, 2008

Tenure

8.47

Tenure Rank

2.2%

John C. Keogh is Senior Vice President, Partner, and Fixed Income Portfolio Manager. As a fixed income portfolio manager, John is responsible for the management of investment grade fixed income portfolios, primarily for mutual fund and insurance clients. He is chair of the Fixed Income Review Group, which reviews the firm's fixed income portfolios to ensure that they meet client objectives and expectations. In addition, John serves on the CBO (Collateralized Bond Obligation) Investment Review Group. Prior to joining Wellington Management in 1983, John worked at Connecticut National Bank in the Portfolio Management, Economics, Funding, and Capital Markets Groups (1979 —1983). John received his BA in economics from Tufts University (1979).


W. Michael Reckmeyer

Manager

Start Date

Jan 01, 2007

Tenure

9.59

Tenure Rank

1.8%

W. Michael Reckmeyer, Ill, CFA, Senior Vice President, Partner, and Equity Portfolio Manager, is the Portfolio Manager for the Hartford Equity Income Fund, the equity portion of the Hartford Balanced Income Fund, and is involved in portfolio management and securities analysis for the Hartford Value Funds. As a member of the Value Team, Mike manages portfolios that have an emphasis on dividend income. Mike's mandate is to focus his research effort on large-capitalization, value-oriented stocks. While his research may include any industry, his primary area of coverage is insurance. Mike began his investment career in 1984 when he worked for the State of Michigan Pension Fund as an analyst following electrical equipment, aerospace, and pollution control companies (1984 —1986). This experience was followed by eight years at Kemper Financial Services where his research focus included paper and forest products, environmental services, and cable and cellular companies (1986 —1994). He joined Wellington Management in 1994. He received both his MBA (1984) and his BS in mechanical engineering (1981) from the University of Wisconsin. Mike holds the Chartered Financial Analyst designation and is a member of the Philadelphia Financial Analyst Society.


Tenure Analysis

Category Low

0.0

Category High

35.5

Category Average

5.28

Category Mode

1.6