School’s Out for Summer
School’s out and report cards are in. If you own the Vanguard Wellington or Wellesley fund, you’ve done just fine. Through Thursday of last week, Wellington was up 4.5% YTD, and Wellesley was up 4.1% YTD. Not that past performance is any indicator of future performance, but if you annualize Wellington and Wellesley you’re looking at roughly 9% and 8% at year-end. That’s a report card any parent would be proud of.