VANGUARD WELLINGTON FUND
VANGUARD WELLINGTON FUND · Series S000004406 · 2 share classes
data updated 2026-08-10
Fund profile
As filed in the prospectus · 2026 Q1
Vanguard Wellington Fund (the Fund) seeks to provide long-term capital appreciation and moderate current income.
The fund pursues active management, allocating 60%-70% to undervalued large-cap stocks with improving prospects and 30%-40% to investment-grade fixed income securities selected for moderate current income. Because security selection drives returns, performance depends on the advisor's ability to identify undervalued equities and suitable bonds.
| Share class | Expense ratio |
|---|---|
| VWELX | 0.24% |
| VWENX | 0.16% |
Portfolio turnover 62.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Stocks | 64.82% |
| Bonds | 32.34% |
| Securitized | 1.53% |
| Cash & short-term | 1.07% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| — | — | — | — | — |
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-02-28
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 83.5% |
| Floating rate | 16.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.6% |
| 1-3y | 18.1% |
| 3-5y | 21.0% |
| 5-10y | 25.4% |
| 10y+ | 34.9% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 55% |
| Credit spreads | 45% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.76 yr |
| High yield | +0.01 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.20 yr | 9% |
| 5 yr | 0.58 yr | 26% |
| 10 yr | 0.88 yr | 40% |
| 30 yr | 0.54 yr | 24% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.13 yr | 7% |
| 5 yr | 0.47 yr | 26% |
| 10 yr | 0.74 yr | 42% |
| 30 yr | 0.43 yr | 24% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $48.6k | $103 |
| 1 yr | +0.20 | +0.13 | +0.00 | $1.56m | $3.4k |
| 5 yr | +0.58 | +0.46 | +0.00 | $5.56m | $16.1k |
| 10 yr | +0.88 | +0.73 | +0.00 | $8.80m | $54.0k |
| 30 yr | +0.54 | +0.43 | +0.00 | $5.13m | $13.2k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| NVDA | NVIDIA CorpNVDA | 5.40% | $6.47B | 36.5M |
| GOOGL | Alphabet IncGOOGL | 4.19% | $5.02B | 16.1M |
| AAPL | Apple IncAAPL | 4.05% | $4.85B | 18.4M |
| MSFT | Microsoft CorpMSFT | 3.92% | $4.70B | 12.0M |
| AMZN | Amazon.com IncAMZN | 2.84% | $3.40B | 16.2M |
| WFC | Wells Fargo & CoWFC | 1.68% | $2.01B | 24.7M |
| AVGO | Broadcom IncAVGO | 1.64% | $1.96B | 6.1M |
| META | Meta Platforms IncMETA | 1.59% | $1.91B | 2.9M |
| LLY | Eli Lilly & CoLLY | 1.24% | $1.48B | 1.4M |
| MRK | Merck & Co IncMRK | 1.17% | $1.41B | 11.4M |
Top 10 positions are 27.72% of net assets, top 25 41.02%, across 526 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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