BAGPX vs. VTCLX

Last updated Jun 23, 2026

BAGPX (BlackRock 60/40 Target Allocation Fund Investor A Shares) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - BAGPX is a Diversified Portfolio fund actively managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund tracking the Russell 1000 Index. BAGPX is actively managed, while VTCLX is passively managed. Over the past 10 years, BAGPX returned 8.19%/yr vs 15.42%/yr for VTCLX. Their correlation of 0.94 suggests significant overlap in exposure. BAGPX charges 0.68%/yr vs 0.05%/yr for VTCLX.

Performance

BAGPX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock 60/40 Target Allocation Fund Investor A Shares (BAGPX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BAGPX having a 10.00% return and VTCLX slightly higher at 10.03%. Over the past 10 years, BAGPX has underperformed VTCLX with an annualized return of 8.19%, while VTCLX has yielded a comparatively higher 15.42% annualized return.

BAGPX

• 1D: 0.87%
• 1M: 2.12%
• YTD: 10.00%
• 6M: 9.78%
• 1Y: 22.25%
• 3Y*: 11.22%
• 5Y*: 5.81%
• 10Y*: 8.19%

VTCLX

• 1D: 1.08%
• 1M: 0.78%
• YTD: 10.03%
• 6M: 9.38%
• 1Y: 26.78%
• 3Y*: 20.54%
• 5Y*: 13.27%
• 10Y*: 15.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAGPX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAGPX BlackRock 60/40 Target Allocation Fund Investor A Shares	10.00%	15.67%	2.29%	15.54%	-16.08%	7.33%	20.85%	20.62%	-6.19%	14.35%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	10.03%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between BAGPX and VTCLX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 26, 2006	0.94

The correlation between BAGPX and VTCLX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

BAGPX vs. VTCLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAGPX

BAGPX Risk / Return Rank: 72
BAGPX Sharpe Ratio Rank: 73
BAGPX Sortino Ratio Rank: 73
BAGPX Omega Ratio Rank: 71
BAGPX Calmar Ratio Rank: 68
BAGPX Martin Ratio Rank: 76

VTCLX

VTCLX Risk / Return Rank: 64
VTCLX Sharpe Ratio Rank: 61
VTCLX Sortino Ratio Rank: 56
VTCLX Omega Ratio Rank: 57
VTCLX Calmar Ratio Rank: 68
VTCLX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAGPX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock 60/40 Target Allocation Fund Investor A Shares (BAGPX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BAGPX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.11	+0.16
Sortino ratio: Return per unit of downside risk	3.23	2.87	+0.36
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio: Return relative to maximum drawdown	3.02	3.03	-0.01
Martin ratio: Return relative to average drawdown	13.33	13.67	-0.34

BAGPX vs. VTCLX - Sharpe Ratio Comparison

The current BAGPX Sharpe Ratio is 2.28, which is comparable to the VTCLX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of BAGPX and VTCLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BAGPX vs. VTCLX - Drawdown Comparison

The maximum BAGPX drawdown since its inception was -47.25%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for BAGPX and VTCLX.

Drawdown Indicators

	BAGPX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-47.25%	-55.18%	+7.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	-8.79%	+1.46%
Max Drawdown (3Y) Largest decline over 3 years	-17.99%	-19.01%	+1.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.07%	-24.98%	+2.91%
Max Drawdown (10Y) Largest decline over 10 years	-22.37%	-34.56%	+12.19%
Current Drawdown Current decline from peak	-0.06%	-1.15%	+1.09%
Average Drawdown Average peak-to-trough decline	-6.47%	-7.55%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.95%	-0.30%

Volatility

BAGPX vs. VTCLX - Volatility Comparison

The current volatility for BlackRock 60/40 Target Allocation Fund Investor A Shares (BAGPX) is 4.16%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 4.78%. This indicates that BAGPX experiences smaller price fluctuations and is considered to be less risky than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAGPX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	4.78%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.99%	-1.51%
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	12.61%	-2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.97%	17.31%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	18.32%	-6.97%

BAGPX vs. VTCLX - Expense Ratio Comparison

BAGPX has a 0.68% expense ratio, which is higher than VTCLX's 0.05% expense ratio.

Dividends

BAGPX vs. VTCLX - Dividend Comparison

BAGPX's dividend yield for the trailing twelve months is around 7.12%, more than VTCLX's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAGPX BlackRock 60/40 Target Allocation Fund Investor A Shares	7.12%	7.83%	0.00%	2.75%	2.28%	7.40%	3.54%	3.50%	7.13%	2.91%	1.55%	9.78%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.91%	0.93%	1.04%	1.24%	1.47%	1.04%	1.32%	1.52%	1.83%	1.57%	1.76%	1.69%

Frequently Asked Questions

Can I hold both BAGPX and VTCLX in my portfolio?

With a correlation of 0.94, BAGPX and VTCLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BAGPX or VTCLX?

VTCLX has higher volatility (4.78%) compared to BAGPX (4.16%). In terms of maximum drawdown, BAGPX dropped -47.25% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

BAGPX currently has the higher Sharpe Ratio (2.28 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.