VWELX is NOT closed to new investors. We have used both funds over the years with satisfaction. To me moving between them is like switching from Vanilla ice cream to French Vanilla. They are both balanced funds with different weightings. One did better over the 5 year period, while the other reigned for the 10 year period. That being said, we currently have more in VWELX. However, we tend to cycle monies to these and a few other conservative funds from much more aggressive funds from mid-March to mid-May, as they tend to peak near the end of Q-1. Holdings in VGHCX, VSEQX,VUVLX,VWNFX,VEXPX,VWUSX and VSMAX are all being reduced slowly in favor cash for a bit. In the past, we've used VFIIX and VBLTX as well as Wellington and Wellesley for preservation, safety and hopefully a little gain. VFIIX and VBLTX aren't looking good to me,so thinking of using a Target fund in their place.