PRCOX vs. VTCLX
PRCOX (T. Rowe Price U.S. Equity Research Fund) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both Large Cap Blend Equities funds. PRCOX is actively managed, while VTCLX is passively managed. Over the past 10 years, PRCOX returned 16.17%/yr vs 15.42%/yr for VTCLX. With a 0.99 correlation, they move nearly in lockstep. PRCOX charges 0.42%/yr vs 0.05%/yr for VTCLX.
Performance
PRCOX vs. VTCLX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRCOX achieves a 10.90% return, which is significantly higher than VTCLX's 10.03% return. Both investments have delivered pretty close results over the past 10 years, with PRCOX having a 16.17% annualized return and VTCLX not far behind at 15.42%.
PRCOX
- 1D
- 1.26%
- 1M
- 0.77%
- YTD
- 10.90%
- 6M
- 10.38%
- 1Y
- 27.39%
- 3Y*
- 21.68%
- 5Y*
- 14.61%
- 10Y*
- 16.17%
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%
PRCOX vs. VTCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCOX T. Rowe Price U.S. Equity Research Fund | 10.90% | 16.34% | 26.41% | 29.82% | -18.80% | 28.06% | 19.82% | 33.04% | -4.73% | 23.80% |
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 PRCOX and VTCLX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 0.99 |
The correlation between PRCOX and VTCLX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRCOX vs. VTCLX — Risk / Return Rank
PRCOX
VTCLX
PRCOX vs. VTCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. Equity Research Fund (PRCOX) 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.
| PRCOX | VTCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.03 | -0.10 |
| Martin ratioReturn relative to average drawdown | 13.25 | 13.67 | -0.42 |
Loading charts...
Drawdowns
PRCOX vs. VTCLX - Drawdown Comparison
The maximum PRCOX drawdown since its inception was -53.96%, roughly equal to the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for PRCOX and VTCLX.
Loading charts...
Drawdown Indicators
| PRCOX | VTCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.96% | -55.18% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.32% | -8.79% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -19.39% | -19.01% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -24.94% | -24.98% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -34.42% | -34.56% | +0.14% |
Current DrawdownCurrent decline from peak | -1.05% | -1.15% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -7.55% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.95% | +0.10% |
Volatility
PRCOX vs. VTCLX - Volatility Comparison
T. Rowe Price U.S. Equity Research Fund (PRCOX) has a higher volatility of 5.04% compared to Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) at 4.78%. This indicates that PRCOX'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.
Loading charts...
Volatility by Period
| PRCOX | VTCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 4.78% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 9.99% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.64% | 12.61% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 17.31% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 18.32% | +0.08% |
PRCOX vs. VTCLX - Expense Ratio Comparison
PRCOX has a 0.42% expense ratio, which is higher than VTCLX's 0.05% expense ratio.
Dividends
PRCOX vs. VTCLX - Dividend Comparison
PRCOX's dividend yield for the trailing twelve months is around 1.06%, more than VTCLX's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCOX T. Rowe Price U.S. Equity Research Fund | 1.06% | 1.17% | 0.64% | 1.17% | 1.28% | 3.71% | 1.04% | 1.39% | 5.60% | 7.02% | 7.28% | 8.76% |
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
With a correlation of 0.97, PRCOX 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.
PRCOX has higher volatility (5.04%) compared to VTCLX (4.78%). In terms of maximum drawdown, PRCOX dropped -53.96% vs VTCLX's -55.18%.
PRCOX currently has the higher Sharpe Ratio (2.16 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.
Find the right allocation for PRCOX and VTCLX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer