Vanguard Wellesley Income Fund Admiral Shares
VWIAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- May 14, 2001
- CIK
- 0000105544
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Wellesley Income Fund Admiral Shares (VWIAX) is a balanced mutual fund that seeks long-term total returns consisting of a high and sustainable level of current income and moderate capital appreciation through a diversified portfolio typically allocated 35%-40% to equities and 60%-65% to fixed-income securities. The equity portion focuses on large-cap value stocks with a defensive tilt toward sectors such as consumer defensive, healthcare, and utilities, holding approximately 71 blue-chip dividend-paying stocks; the fixed-income sleeve emphasizes investment-grade bonds, including around 60% corporate credit, 20% taxable municipal bonds and asset-backed securities, and the balance in U.S. Treasuries and agency securities for liquidity, with an intermediate duration and average yield-to-maturity of about 5.3%. The fund, launched in 1970 and managed by Wellington Management Company LLP since inception, operates from Vanguard's headquarters in Valley Forge, Pennsylvania, primarily serving income-oriented investors such as those nearing retirement in the moderately conservative allocation category. In recent years, the fund has undergone portfolio management transitions, including the retirement of longtime equity manager Michael Reckmeyer in 2022 and ascension of Matthew Hand to lead the equity sleeve alongside fixed-income manager Loren Moran, maintaining the target allocation with minor adjustments within 5 percentage points. Vanguard implemented its largest-ever expense ratio reductions across 87 funds effective February 1, 2025, benefiting VWIAX's low-cost structure in line with ongoing cost efficiencies for investors. The strategy demonstrated resilience in downturns, such as limiting losses to 9% in 2022 versus 13% for peers, driven by value stock tilts and shorter bond duration, though it trailed category averages in growth-favoring 2023 and 2024.