MABAX vs. VTCLX

Last updated Jun 4, 2026

MABAX (BlackRock Large Cap Focus Value Fund) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - MABAX is a Large Cap Value Equities fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, MABAX returned 10.93%/yr vs 15.47%/yr for VTCLX. Their correlation of 0.91 suggests significant overlap in exposure. MABAX charges 0.54%/yr vs 0.09%/yr for VTCLX.

Performance

MABAX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Large Cap Focus Value Fund (MABAX) 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, MABAX achieves a 9.50% return, which is significantly lower than VTCLX's 11.31% return. Over the past 10 years, MABAX has underperformed VTCLX with an annualized return of 10.93%, while VTCLX has yielded a comparatively higher 15.47% annualized return.

MABAX

• 1D: 0.68%
• 1M: 5.65%
• YTD: 9.50%
• 6M: 12.03%
• 1Y: 29.56%
• 3Y*: 18.92%
• 5Y*: 10.92%
• 10Y*: 10.93%

VTCLX

• 1D: 0.22%
• 1M: 5.61%
• YTD: 11.31%
• 6M: 11.26%
• 1Y: 28.29%
• 3Y*: 22.21%
• 5Y*: 13.46%
• 10Y*: 15.47%

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

MABAX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MABAX BlackRock Large Cap Focus Value Fund	9.50%	25.33%	10.30%	16.22%	-4.59%	21.48%	3.48%	24.17%	-7.63%	6.74%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	11.31%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between MABAX and VTCLX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001	0.91

The correlation between MABAX and VTCLX shifts across timeframes, from 0.74 (3 years) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MABAX vs. VTCLX — Risk / Return Rank

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

MABAX

MABAX Risk / Return Rank: 64
MABAX Sharpe Ratio Rank: 76
MABAX Sortino Ratio Rank: 71
MABAX Omega Ratio Rank: 63
MABAX Calmar Ratio Rank: 53
MABAX Martin Ratio Rank: 55

VTCLX

VTCLX Risk / Return Rank: 70
VTCLX Sharpe Ratio Rank: 69
VTCLX Sortino Ratio Rank: 63
VTCLX Omega Ratio Rank: 62
VTCLX Calmar Ratio Rank: 73
VTCLX Martin Ratio Rank: 82

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.

MABAX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Large Cap Focus Value Fund (MABAX) 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.

	MABAX	VTCLX	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.43	+0.10
Sortino ratio Return per unit of downside risk	3.53	3.32	+0.21
Omega ratio Gain probability vs. loss probability	1.44	1.44	0.00
Calmar ratio Return relative to maximum drawdown	2.79	3.32	-0.53
Martin ratio Return relative to average drawdown	11.12	15.43	-4.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MABAX vs. VTCLX - Sharpe Ratio Comparison

The current MABAX Sharpe Ratio is 2.53, which is comparable to the VTCLX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of MABAX 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.

Sharpe Ratios by Period

	MABAX	VTCLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.43	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.79	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.85	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.53	+0.19

Drawdowns

MABAX vs. VTCLX - Drawdown Comparison

The maximum MABAX drawdown since its inception was -54.63%, roughly equal to the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for MABAX and VTCLX.

Drawdown Indicators

	MABAX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-54.63%	-55.18%	+0.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-8.79%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-19.01%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-19.15%	-24.98%	+5.83%
Max Drawdown (10Y) Largest decline over 10 years	-39.44%	-34.56%	-4.88%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.44%	-7.57%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.89%	+0.91%

Volatility

MABAX vs. VTCLX - Volatility Comparison

BlackRock Large Cap Focus Value Fund (MABAX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) have volatilities of 2.95% and 2.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MABAX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	2.86%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	9.09%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	12.01%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	17.22%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	18.28%	+0.11%

MABAX vs. VTCLX - Expense Ratio Comparison

MABAX has a 0.54% expense ratio, which is higher than VTCLX's 0.09% expense ratio.

Dividends

MABAX vs. VTCLX - Dividend Comparison

MABAX's dividend yield for the trailing twelve months is around 13.38%, more than VTCLX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MABAX BlackRock Large Cap Focus Value Fund	13.38%	14.66%	9.18%	4.84%	11.41%	18.17%	12.42%	12.76%	29.20%	3.10%	1.46%	14.94%
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

Can I hold both MABAX and VTCLX in my portfolio?

MABAX and VTCLX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MABAX or VTCLX?

MABAX has higher volatility (2.95%) compared to VTCLX (2.86%). In terms of maximum drawdown, MABAX dropped -54.63% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

MABAX currently has the higher Sharpe Ratio (2.53 vs 2.43), 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.