LIHIX vs. VTCLX
LIHIX (BlackRock LifePath Index 2045 Fund Institutional) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - LIHIX is a Target Retirement Date fund tracking the BlackRock LifePath Index 2045 Custom Benchmark, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, LIHIX returned 11.01%/yr vs 15.38%/yr for VTCLX. With a 0.95 correlation, they move nearly in lockstep. LIHIX charges 0.14%/yr vs 0.09%/yr for VTCLX.
Performance
LIHIX vs. VTCLX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LIHIX having a 10.86% return and VTCLX slightly higher at 11.03%. Over the past 10 years, LIHIX has underperformed VTCLX with an annualized return of 11.01%, while VTCLX has yielded a comparatively higher 15.38% annualized return.
LIHIX
- 1D
- 0.39%
- 1M
- 1.68%
- YTD
- 10.86%
- 6M
- 11.30%
- 1Y
- 25.27%
- 3Y*
- 17.59%
- 5Y*
- 8.86%
- 10Y*
- 11.01%
VTCLX
- 1D
- 0.45%
- 1M
- 3.02%
- YTD
- 11.03%
- 6M
- 10.64%
- 1Y
- 28.54%
- 3Y*
- 22.19%
- 5Y*
- 13.20%
- 10Y*
- 15.38%
LIHIX vs. VTCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LIHIX BlackRock LifePath Index 2045 Fund Institutional | 10.86% | 19.01% | 11.80% | 20.26% | -18.10% | 17.74% | 13.93% | 26.15% | -7.55% | 21.02% |
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 11.03% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 22.40% |
Correlation
The correlation between LIHIX and VTCLX is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.95 |
The correlation between LIHIX and VTCLX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
LIHIX vs. VTCLX — Risk / Return Rank
LIHIX
VTCLX
LIHIX vs. VTCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2045 Fund Institutional (LIHIX) 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.
| LIHIX | VTCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 3.19 | -0.17 |
| Martin ratioReturn relative to average drawdown | 13.34 | 14.83 | -1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LIHIX | VTCLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.33 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.77 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.84 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.53 | +0.09 |
Drawdowns
LIHIX vs. VTCLX - Drawdown Comparison
The maximum LIHIX drawdown since its inception was -33.31%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for LIHIX and VTCLX.
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Drawdown Indicators
| LIHIX | VTCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.31% | -55.18% | +21.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -8.79% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | -19.01% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -25.92% | -24.98% | -0.94% |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | -34.56% | +1.25% |
Current DrawdownCurrent decline from peak | -0.35% | -0.26% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -7.56% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 1.89% | -0.01% |
Volatility
LIHIX vs. VTCLX - Volatility Comparison
BlackRock LifePath Index 2045 Fund Institutional (LIHIX) has a higher volatility of 3.45% compared to Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) at 2.90%. This indicates that LIHIX's price experiences larger fluctuations and is considered to be riskier than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LIHIX | VTCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 2.90% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 9.11% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.91% | 12.03% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 17.22% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.74% | 18.27% | -2.53% |
LIHIX vs. VTCLX - Expense Ratio Comparison
LIHIX has a 0.14% expense ratio, which is higher than VTCLX's 0.09% 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
LIHIX vs. VTCLX - Dividend Comparison
LIHIX's dividend yield for the trailing twelve months is around 2.51%, more than VTCLX's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LIHIX BlackRock LifePath Index 2045 Fund Institutional | 2.51% | 2.78% | 0.01% | 2.19% | 2.01% | 2.29% | 1.09% | 3.32% | 2.43% | 2.29% | 1.55% | 3.11% |
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 0.85% | 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
With a correlation of 0.95, LIHIX 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.
LIHIX has higher volatility (3.45%) compared to VTCLX (2.90%). In terms of maximum drawdown, LIHIX dropped -33.31% vs VTCLX's -55.18%.
VTCLX currently has the higher Sharpe Ratio (2.33 vs 2.30), 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.
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