CONWX vs. VTMFX

Last updated Jun 3, 2026

CONWX (Concorde Wealth Management Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds from BlackRock. Over the past 10 years, CONWX returned 8.18%/yr vs 8.68%/yr for VTMFX. A 0.75 correlation means they provide meaningful diversification when combined. CONWX charges 1.41%/yr vs 0.09%/yr for VTMFX.

Performance

CONWX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Concorde Wealth Management Fund (CONWX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CONWX achieves a 6.67% return, which is significantly higher than VTMFX's 5.85% return. Over the past 10 years, CONWX has underperformed VTMFX with an annualized return of 8.18%, while VTMFX has yielded a comparatively higher 8.68% annualized return.

CONWX

• 1D: -0.53%
• 1M: -1.21%
• YTD: 6.67%
• 6M: 7.34%
• 1Y: 16.15%
• 3Y*: 12.10%
• 5Y*: 6.40%
• 10Y*: 8.18%

VTMFX

• 1D: 0.15%
• 1M: 2.66%
• YTD: 5.85%
• 6M: 6.14%
• 1Y: 17.04%
• 3Y*: 12.68%
• 5Y*: 7.25%
• 10Y*: 8.68%

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

CONWX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CONWX Concorde Wealth Management Fund	6.67%	11.95%	13.58%	0.20%	-2.51%	19.73%	8.76%	16.84%	-1.95%	7.17%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.85%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between CONWX and VTMFX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016	0.75

Over the past year, the correlation between CONWX and VTMFX has dropped to 0.38 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

CONWX vs. VTMFX — Risk / Return Rank

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

CONWX

CONWX Risk / Return Rank: 71
CONWX Sharpe Ratio Rank: 69
CONWX Sortino Ratio Rank: 72
CONWX Omega Ratio Rank: 62
CONWX Calmar Ratio Rank: 88
CONWX Martin Ratio Rank: 65

VTMFX

VTMFX Risk / Return Rank: 81
VTMFX Sharpe Ratio Rank: 87
VTMFX Sortino Ratio Rank: 85
VTMFX Omega Ratio Rank: 82
VTMFX Calmar Ratio Rank: 68
VTMFX Martin Ratio Rank: 81

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.

CONWX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Concorde Wealth Management Fund (CONWX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	CONWX	VTMFX	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.82	-0.40
Sortino ratio Return per unit of downside risk	3.55	4.04	-0.49
Omega ratio Gain probability vs. loss probability	1.44	1.55	-0.11
Calmar ratio Return relative to maximum drawdown	4.34	3.19	+1.14
Martin ratio Return relative to average drawdown	12.82	15.32	-2.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CONWX vs. VTMFX - Sharpe Ratio Comparison

The current CONWX Sharpe Ratio is 2.42, which is comparable to the VTMFX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of CONWX and VTMFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CONWX	VTMFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.82	-0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.85	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.95	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.85	-0.08

Drawdowns

CONWX vs. VTMFX - Drawdown Comparison

The maximum CONWX drawdown since its inception was -26.09%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for CONWX and VTMFX.

Drawdown Indicators

	CONWX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-26.09%	-28.49%	+2.40%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	-5.38%	+1.70%
Max Drawdown (3Y) Largest decline over 3 years	-9.86%	-10.61%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-12.49%	-17.40%	+4.91%
Max Drawdown (10Y) Largest decline over 10 years	-26.09%	-21.87%	-4.22%
Current Drawdown Current decline from peak	-3.40%	0.00%	-3.40%
Average Drawdown Average peak-to-trough decline	-2.78%	-3.55%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	1.12%	+0.12%

Volatility

CONWX vs. VTMFX - Volatility Comparison

The current volatility for Concorde Wealth Management Fund (CONWX) is 1.44%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 1.70%. This indicates that CONWX experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONWX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.70%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	5.15%	4.76%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	6.97%	6.14%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.19%	8.52%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.10%	9.12%	+1.98%

CONWX vs. VTMFX - Expense Ratio Comparison

CONWX has a 1.41% expense ratio, which is higher than VTMFX's 0.09% expense ratio.

Dividends

CONWX vs. VTMFX - Dividend Comparison

CONWX's dividend yield for the trailing twelve months is around 3.46%, more than VTMFX's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CONWX Concorde Wealth Management Fund	3.46%	3.69%	10.55%	2.16%	7.85%	3.63%	3.86%	2.16%	5.09%	2.48%	0.00%	0.00%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.11%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both CONWX and VTMFX in my portfolio?

CONWX and VTMFX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CONWX or VTMFX?

VTMFX has higher volatility (1.70%) compared to CONWX (1.44%). In terms of maximum drawdown, CONWX dropped -26.09% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.82 vs 2.42), 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.