- ISIN
- US9219438663
- CUSIP
- 921943866
- Issuer
- BlackRock
- Inception Date
- Sep 6, 1994
- Region
- North America (U.S.)
- Category
- Large Cap Blend Equities
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $29B
Share Price Chart
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Performance
VTCLX Performance Chart
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) is up 6.5% since the beginning of the year. VTCLX is currently trading at $374 per share. Investors who bought $1,000 worth of VTCLX shares 5 years ago would now be looking at an investment worth $1,773.
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Returns By Period
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has returned 6.51% so far this year and 21.71% over the past 12 months. Looking at the last ten years, VTCLX has achieved an annualized return of 14.99%, outperforming the S&P 500 Index benchmark, which averaged 13.53% per year.
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares
- 1D
- -1.61%
- 1M
- -1.40%
- YTD
- 6.51%
- 6M
- 5.63%
- 1Y
- 21.71%
- 3Y*
- 20.28%
- 5Y*
- 12.13%
- 10Y*
- 14.99%
Benchmark (S&P 500 Index)
- 1D
- 1.75%
- 1M
- -0.09%
- YTD
- 8.02%
- 6M
- 7.15%
- 1Y
- 22.78%
- 3Y*
- 19.45%
- 5Y*
- 11.73%
- 10Y*
- 13.53%
VTCLX Monthly Returns History
Based on dividend-adjusted daily data since Nov 12, 2001, VTCLX's average daily return is +0.05%, while the average monthly return is +0.89%. At this rate, an investment would double in approximately 6.5 years.
Historically, 65% of months were positive and 35% were negative. The best month was Apr 2020 with a return of +13.1%, while the worst month was Oct 2008 at -17.9%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VTCLX closed higher 55% of trading days. The best single day was Oct 13, 2008 with a return of +11.9%, while the worst single day was Mar 16, 2020 at -12.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.44% | -0.48% | -4.96% | 10.02% | 4.91% | -3.82% | 6.51% | ||||||
| 2025 | 3.15% | -1.82% | -5.71% | -0.54% | 6.24% | 5.00% | 2.26% | 2.08% | 3.53% | 2.20% | 0.37% | 0.01% | 17.44% |
| 2024 | 1.39% | 5.44% | 3.20% | -4.39% | 4.74% | 3.23% | 1.35% | 2.31% | 2.03% | -0.87% | 6.50% | -2.84% | 23.76% |
| 2023 | 6.78% | -2.38% | 3.19% | 1.25% | 0.52% | 6.71% | 3.37% | -1.63% | -4.75% | -2.45% | 9.37% | 4.89% | 26.62% |
| 2022 | -5.76% | -2.70% | 3.32% | -8.89% | -0.06% | -8.32% | 9.48% | -3.97% | -9.18% | 7.96% | 5.48% | -5.88% | -19.07% |
| 2021 | -0.93% | 3.03% | 3.84% | 5.41% | 0.46% | 2.50% | 2.15% | 2.79% | -4.60% | 6.95% | -1.24% | 4.20% | 26.87% |
Benchmark Metrics
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares has an annualized alpha of 1.91%, beta of 1.01, and R2 of 1.00 versus S&P 500 Index. Calculated based on daily prices since November 12, 2001.
- This fund captured 108.44% of S&P 500 Index gains but only 98.66% of its losses - a favorable profile for investors.
- With beta of 1.01 and R2 of 1.00, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 1.91%
- Beta
- 1.01
- R²
- 1.00
- Upside Capture
- 108.44%
- Downside Capture
- 98.66%
Expense Ratio
VTCLX has an expense ratio of 0.09%, which is considered low.
Return for Risk
Risk / Return Rank
VTCLX ranks 60 for risk / return — better than 60% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VTCLX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.52 | -0.07 |
| Martin ratioReturn relative to average drawdown | 11.09 | 11.31 | -0.22 |
Dividends
Dividend History
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares provided a 0.88% dividend yield over the last twelve months, with an annual payout of $3.30 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.30 | $3.29 | $3.15 | $3.07 | $2.91 | $2.58 | $2.61 | $2.52 | $2.35 | $2.16 | $2.01 | $1.75 |
Dividend yield | 0.88% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.86 | $0.00 | $0.00 | $0.00 | $0.86 | ||||||
| 2025 | $0.00 | $0.00 | $0.85 | $0.00 | $0.00 | $0.80 | $0.00 | $0.00 | $0.80 | $0.00 | $0.00 | $0.84 | $3.29 |
| 2024 | $0.00 | $0.00 | $0.79 | $0.00 | $0.00 | $0.82 | $0.00 | $0.00 | $0.74 | $0.00 | $0.00 | $0.81 | $3.15 |
| 2023 | $0.00 | $0.00 | $0.72 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.71 | $0.00 | $0.00 | $0.91 | $3.07 |
| 2022 | $0.00 | $0.00 | $0.66 | $0.00 | $0.00 | $0.73 | $0.00 | $0.00 | $0.69 | $0.00 | $0.00 | $0.83 | $2.91 |
| 2021 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.64 | $0.00 | $0.00 | $0.61 | $0.00 | $0.00 | $0.73 | $2.58 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares was 55.18%, occurring on Mar 9, 2009. Recovery took 760 trading sessions.
The current Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares drawdown is 4.31%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -55.18%Mar 2009 | 1y 5mo | 3y 5d | 4y 5moOct 2007 - Mar 2012 |
Dot-com crash2000–2002 | -34.82%Oct 2002 | 9mo 5d | 1y 3mo | 2yJan 2002 - Jan 2004 |
COVID crash2020 | -34.56%Mar 2020 | 1mo 2d | 4mo 16d | 5mo 18dFeb 2020 - Aug 2020 |
Bear market2022 | -24.98%Oct 2022 | 9mo 13d | 1y 2mo | 1y 11moJan 2022 - Dec 2023 |
Rate-hike selloffLate 2018 | -19.65%Dec 2018 | 3mo 4d | 3mo 19d | 6mo 23dSep 2018 - Apr 2019 |
Drawdown Indicators
| VTCLX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -56.78% | +1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -9.10% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -18.90% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -25.43% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -33.92% | -0.64% |
Current DrawdownCurrent decline from peak | -4.31% | -2.83% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -10.72% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.02% | -0.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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