Fund Evaluator:
Vanguard Global Wellesley Income Inv (VGWIX)
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Best Performing in Global Moderately Conservative Allocation Over the Last Year
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Fund Details
Vanguard Global Wellesley Income Inv Overview
Vanguard Global Wellesley Income Inv (VGWIX) is an actively managed Allocation Global Moderately Conservative Allocation fund. Vanguard launched the fund in 2017.
The investment seeks to provide long-term growth of income and a high and sustainable level of current income, along with moderate long-term capital appreciation. The fund invests approximately 60% to 70% of its assets in U.S. and foreign investment-grade fixed income securities that the advisor believes will generate a moderate level of current income, including corporate, government, and government agency bonds, as well as mortgage-backed securities. It may also invest in local currency bonds.
About Vanguard Global Wellesley Income Inv (VGWIX)
There are 2 members of the management team with an average tenure of 7.87 years: Andre Desautels (2019), Loren Moran (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and FTSE AW Dv (US RIC) NR USD index with a weighting of 100%. Vanguard Global Wellesley Income Inv has 625 securities in its portfolio. The top 10 holdings constitute 12.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Vanguard Global Wellesley Income Inv is part of the Allocation global asset class and is within the Allocation fund group. Vanguard Global Wellesley Income Inv has 45.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 16.5%. There is 20.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 58.9% (33.4% domestic bond, 25.4% foreign bond and 0.0% convertible bond). Vanguard Global Wellesley Income Inv has 4.3% of the portfolio in cash.
Assets Under Management
The fund has $100 million in total assets, which is below the $304 million average for the Global Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VGWIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard Global Wellesley Income Inv expense ratio is average compared to funds in the Global Moderately Conservative Allocation category. Vanguard Global Wellesley Income Inv has an expense ratio of 0.43%, which is 56% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard Global Wellesley Income Inv has a portfolio turnover rate of 102%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, Vanguard Global Wellesley Income Inv returned 0.7%, which earned it a grade of A, as the Global Moderately Conservative Allocation category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Vanguard Global Wellesley Income Inv has a trailing yield of 3.81%, which is above the 3.07% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard Global Wellesley Income Inv Grades
Year to date, the fund has returned 5.4%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 11.6% over the past year (grade of B), 9.4% over the past three years (grade of B) and 5.0% per year over the past five years (grade of A).
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VGWIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VGWIX Return (NAV) | 0.7% | 2.0% | 11.6% | 9.4% | 5.0% | na |
| VGWIX Grade | A | A | B | B | A | na |
| +/- Category | 1.2% | 0.5% | 0.8% | 0.3% | 1.2% | na |
| Global Moderately Conservative Allocation Avg | -0.5% | 1.5% | 10.9% | 9.1% | 3.9% | 5.4% |
| VGWIX Tax Cost Ratio | na | na | 1.4% | 1.3% | 1.0% | na |
VGWIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VGWIX Return (NAV) | 5.4% | 13.2% | 6.0% | 8.8% | -8.1% | 6.4% | 5.4% | 13.8% | -4.4% | na | na |
| VGWIX Grade | B | A | F | F | A | F | F | D | C | na | na |
| +/- Category | 0.3% | 1.6% | -1.3% | -1.6% | 5.4% | -1.1% | -3.5% | -1.2% | 0.4% | na | na |
| Global Moderately Conservative Allocation Avg | 5.1% | 11.6% | 7.3% | 10.4% | -13.5% | 7.5% | 8.9% | 15.0% | -4.8% | 10.7% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 6.4% |
| Total Risk Index: | 0.52 - Below Average |
| Category Risk Index: | 0.86 - Low |
| Category Risk Grade: | A (11% Rank) |
| Beta: | 0.62 |
| R-Squared: | 82% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.8% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $753 Mil |
| Fund Total Assets: | $ 100 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 102% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 7.9 years | |||
| Managers (Year): Moran Loren (2017), Desautels Andre (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 625 |
| % in Top 10 Holdings: | 12.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 45.8% |
Portfolio Allocation |
|
| Domestic Stock: | 16.5% |
| Foreign Stock: | 20.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 33.4% |
| Foreign Bond: | 25.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.3% |
Purchase Information
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Status: | Open |
| Inception Date: | November 2, 2017 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.43% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Vanguard Global Wellesley Income Admiral |
| Min. Subsequent Purchase: | $ 1 |
| Min. Subsequent IRA Purchase: | $ 0 |
