BICPX vs. VTCLX

Last updated Jul 2, 2026

BICPX (BlackRock 20/80 Target Allocation Fund) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - BICPX is a Diversified Portfolio fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Over the past 10 years, BICPX returned 4.08%/yr vs 15.37%/yr for VTCLX. A 0.79 correlation means they provide meaningful diversification when combined. BICPX charges 0.11%/yr vs 0.05%/yr for VTCLX.

Performance

BICPX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock 20/80 Target Allocation Fund (BICPX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BICPX achieves a 3.96% return, which is significantly lower than VTCLX's 10.44% return. Over the past 10 years, BICPX has underperformed VTCLX with an annualized return of 4.08%, while VTCLX has yielded a comparatively higher 15.37% annualized return.

BICPX

• 1D: -0.08%
• 1M: 0.17%
• YTD: 3.96%
• 6M: 3.96%
• 1Y: 9.46%
• 3Y*: 6.65%
• 5Y*: 1.95%
• 10Y*: 4.08%

VTCLX

• 1D: 0.83%
• 1M: -0.57%
• YTD: 10.44%
• 6M: 10.44%
• 1Y: 22.57%
• 3Y*: 20.28%
• 5Y*: 12.54%
• 10Y*: 15.37%

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

BICPX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BICPX BlackRock 20/80 Target Allocation Fund	3.96%	10.57%	1.29%	9.05%	-14.67%	0.23%	15.50%	12.57%	-2.21%	7.94%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	10.44%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between BICPX and VTCLX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 26, 2006	0.79

The correlation between BICPX and VTCLX shifts across timeframes, from 0.68 (5 years) to 0.81 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BICPX vs. VTCLX — Risk / Return Rank

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

BICPX

BICPX Risk / Return Rank: 56
BICPX Sharpe Ratio Rank: 60
BICPX Sortino Ratio Rank: 61
BICPX Omega Ratio Rank: 66
BICPX Calmar Ratio Rank: 44
BICPX Martin Ratio Rank: 51

VTCLX

VTCLX Risk / Return Rank: 60
VTCLX Sharpe Ratio Rank: 57
VTCLX Sortino Ratio Rank: 53
VTCLX Omega Ratio Rank: 53
VTCLX Calmar Ratio Rank: 63
VTCLX Martin Ratio Rank: 75

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.

BICPX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock 20/80 Target Allocation Fund (BICPX) 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.

	BICPX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.78	+0.04
Sortino ratio: Return per unit of downside risk	2.61	2.45	+0.16
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.03
Calmar ratio: Return relative to maximum drawdown	2.15	2.56	-0.42
Martin ratio: Return relative to average drawdown	8.80	11.34	-2.54

BICPX vs. VTCLX - Sharpe Ratio Comparison

The current BICPX Sharpe Ratio is 1.82, which is comparable to the VTCLX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of BICPX 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

BICPX vs. VTCLX - Drawdown Comparison

The maximum BICPX drawdown since its inception was -31.00%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for BICPX and VTCLX.

Drawdown Indicators

	BICPX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-31.00%	-55.18%	+24.18%
Max Drawdown (1Y) Largest decline over 1 year	-4.43%	-8.79%	+4.36%
Max Drawdown (3Y) Largest decline over 3 years	-8.69%	-19.01%	+10.32%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-24.98%	+6.04%
Max Drawdown (10Y) Largest decline over 10 years	-18.94%	-34.56%	+15.62%
Current Drawdown Current decline from peak	-0.17%	-0.78%	+0.61%
Average Drawdown Average peak-to-trough decline	-3.71%	-7.55%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.98%	-0.90%

Volatility

BICPX vs. VTCLX - Volatility Comparison

The current volatility for BlackRock 20/80 Target Allocation Fund (BICPX) is 2.01%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 5.00%. This indicates that BICPX 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

	BICPX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	5.00%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	4.49%	10.04%	-5.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.23%	12.66%	-7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	17.33%	-10.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.42%	18.26%	-11.84%

BICPX vs. VTCLX - Expense Ratio Comparison

BICPX has a 0.11% expense ratio, which is higher than VTCLX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BICPX vs. VTCLX - Dividend Comparison

BICPX's dividend yield for the trailing twelve months is around 4.24%, more than VTCLX's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BICPX BlackRock 20/80 Target Allocation Fund	4.24%	4.41%	0.00%	3.50%	3.54%	4.89%	4.25%	2.46%	5.15%	2.71%	1.85%	6.53%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.90%	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 BICPX and VTCLX in my portfolio?

BICPX and VTCLX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BICPX or VTCLX?

VTCLX has higher volatility (5.00%) compared to BICPX (2.01%). In terms of maximum drawdown, BICPX dropped -31.00% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

BICPX currently has the higher Sharpe Ratio (1.82 vs 1.78), 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.