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VWIAX Vanguard Wellesley® Income Admiral™

  • Fund
  • VWIAX
  • Price as of: Aug 16, 2019
  • $65.40 + $0.20 + 0.31%
  • Category
  • Diversified Portfolio

VWIAX - Profile

Vitals

  • YTD Return 10.5%
  • 3 Yr Annualized Return 0.7%
  • 5 Yr Annualized Return 0.8%
  • Net Assets $56.2 B
  • Holdings in Top 10 11.8%

52 WEEK LOW AND HIGH

$65.40
$58.04
$65.40

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.16%

SALES FEES

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

BROKERAGE FEES

  • Turnover 36.00%

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 10.5%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.00%
DIVIDENDS
  • Dividend Yield 1.5%
  • 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 W. Michael Reckmeyer

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 (%)
YTD 10.5% -52.8% 25.5% 26.94%
1 Yr 1.2% -63.1% 12.7% 12.92%
3 Yr 0.7%* -27.4% 12.9% 44.43%
5 Yr 0.8%* -24.0% 8.4% 23.49%
10 Yr 3.4%* -14.6% 9.4% 49.20%

* Annualized


Return Ranking - Calendar

Period VWIAX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.4% -34.6% 1.6% 37.76%
2017 5.8% -12.4% 33.2% 57.06%
2016 3.9% -65.8% 23.3% 41.10%
2015 -4.1% -64.9% 4.8% 22.83%
2014 2.9% -29.5% 68.3% 19.35%

Total Return Ranking - Trailing

Period VWIAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.5% -52.8% 25.5% 27.33%
1 Yr 1.2% -60.9% 12.7% 33.07%
3 Yr 0.7%* -22.8% 13.0% 80.91%
5 Yr 0.8%* -21.3% 47.3% 73.29%
10 Yr 3.4%* -12.3% 12.5% 85.13%

* Annualized


Total Return Ranking - Calendar

Period VWIAX Return Category Return Low Category Return High Rank in Category (%)
2018 -9.4% -32.7% 1.6% 66.58%
2017 5.8% -8.4% 33.2% 81.13%
2016 3.9% -65.2% 23.3% 76.13%
2015 -4.1% -62.9% 9.2% 62.43%
2014 2.9% -28.5% 76.9% 64.10%

NAV & Total Return History

VWIAX - Holdings

Concentration Analysis

VWIAX Category Low Category High VWIAX % Rank
Net Assets 56.2 B 604 K 147 B 2.07%
Number of Holdings 1291 2 13482 11.96%
Net Assets in Top 10 6.57 B -120 M 26.4 B 4.65%
Weighting of Top 10 11.80% 5.5% 3196.0% 96.44%

Top 10 Holdings

  1. JPMorgan Chase & Co 1.65%

  2. Cisco Systems Inc 1.42%

  3. Verizon Communications Inc 1.35%

  4. Pfizer Inc 1.31%

  5. Johnson & Johnson 1.25%

  6. Bank of America Corporation 1.09%

  7. Chevron Corp 0.96%

  8. United States Treasury Notes 2.38% 0.92%

  9. Lockheed Martin Corp 0.92%

  10. Exxon Mobil Corp 0.92%


Asset Allocation

Weighting Return Low Return High VWIAX % Rank
Bonds
57.98% 0.00% 261.66% 19.70%
Stocks
36.01% -21.52% 135.47% 72.55%
Cash
4.88% -283.85% 353.31% 48.22%
Convertible Bonds
1.13% 0.00% 26.85% 17.32%
Preferred Stocks
0.00% 0.00% 65.70% 98.19%
Other
0.00% -253.31% 53.08% 92.76%

Stock Sector Breakdown

Weighting Return Low Return High VWIAX % Rank
Healthcare
6.20% -1.99% 45.45% 49.55%
Financial Services
5.96% -0.41% 47.66% 67.19%
Consumer Defense
4.59% -4.62% 17.45% 32.43%
Energy
3.70% -2.23% 28.27% 29.96%
Technology
3.55% -3.22% 31.95% 80.93%
Utilities
3.17% -0.16% 23.50% 11.74%
Industrials
3.02% -0.36% 27.15% 77.37%
Communication Services
2.53% -0.92% 6.89% 17.83%
Consumer Cyclical
1.39% -9.59% 42.25% 89.62%
Real Estate
0.73% -3.22% 75.65% 81.78%
Basic Materials
0.64% -1.56% 22.61% 86.12%

Stock Geographic Breakdown

Weighting Return Low Return High VWIAX % Rank
US
30.53% -23.38% 134.61% 59.53%
Non US
5.48% -76.83% 74.42% 71.62%

Bond Sector Breakdown

Weighting Return Low Return High VWIAX % Rank
Corporate
42.27% 0.00% 86.09% 6.21%
Government
8.19% -57.27% 316.66% 62.77%
Securitized
6.09% -31.43% 45.07% 57.40%
Cash & Equivalents
3.87% -277.47% 353.31% 52.23%
Municipal
2.92% 0.00% 99.83% 5.69%
Derivative
0.00% -234.33% 46.84% 74.66%

Bond Geographic Breakdown

Weighting Return Low Return High VWIAX % Rank
US
47.05% -215.69% 201.54% 22.69%
Non US
10.93% -64.26% 220.06% 20.23%

VWIAX - Expenses

Operational Fees

VWIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.16% 0.00% 11.64% 96.38%
Management Fee 0.15% 0.00% 2.50% 33.79%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.83% N/A

Sales Fees

VWIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.14% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

VWIAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.11% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 36.00% 0.00% 6067.00% 46.99%

VWIAX - Distributions

Dividend Yield Analysis

VWIAX Category Low Category High VWIAX % Rank
Dividend Yield 1.48% 0.00% 1.02% 35.53%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

VWIAX Category Low Category High VWIAX % Rank
Net Income Ratio 3.00% -4.09% 6.99% 11.12%

Capital Gain Distribution Analysis

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

VWIAX - Managers

W. Michael Reckmeyer

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2007

12.59

12.6%

W. Michael Reckmeyer, III, CFA, is Senior Managing Director , Partner, and Equity Portfolio Manager. Reckmeyer joined Wellington Management as an investment professional in 1994. 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 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 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.


Michael E. Stack

Manager

Start Date

Tenure

Tenure Rank

Jan 27, 2017

2.51

2.5%

Michael E. Stack is Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management. Mr. Stack joined Wellington Management as an investment professional in 2000.


Loren L. Moran

Manager

Start Date

Tenure

Tenure Rank

Jan 27, 2017

2.51

2.5%

Loren L. Moran, CFA, Managing Director and Fixed Income Portfolio Manager of Wellington Management. She has worked in investment management since 2001, has been with Wellington Management since 2014. Education: B.S., Georgetown University.


Tenure Analysis

Category Low

0.0

Category High

38.52

Category Average

6.47

Category Mode

7.12