RETSX vs. VTCLX

Last updated Aug 4, 2026

RETSX (Russell Investment Tax-Managed U.S. Large Cap Fund) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both Large Cap Blend Equities funds. Over the past 10 years, RETSX returned 13.01%/yr vs 15.01%/yr for VTCLX. Their 0.99 correlation means they have historically moved very closely together. RETSX charges 0.92%/yr vs 0.05%/yr for VTCLX.

Performance

RETSX vs. VTCLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investment Tax-Managed U.S. Large Cap Fund (RETSX) 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, RETSX achieves a 9.31% return, which is significantly lower than VTCLX's 9.93% return. Over the past 10 years, RETSX has underperformed VTCLX with an annualized return of 13.01%, while VTCLX has yielded a comparatively higher 15.01% annualized return.

RETSX

• 1D: 0.48%
• 1M: 0.78%
• 6M: 7.87%
• YTD: 9.31%
• 1Y: 18.90%
• 3Y*: 16.54%
• 5Y*: 10.23%
• 10Y*: 13.01%
• ALL TIME*: 8.87%

VTCLX

• 1D: 0.60%
• 1M: -0.20%
• 6M: 7.78%
• YTD: 9.93%
• 1Y: 21.13%
• 3Y*: 18.88%
• 5Y*: 12.06%
• 10Y*: 15.01%
• ALL TIME*: 10.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RETSX Russell Investment Tax-Managed U.S. Large Cap Fund	$0.00	$0.00	$0.00
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	$0.00	$0.00	$0.00

RETSX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RETSX Russell Investment Tax-Managed U.S. Large Cap Fund	9.31%	14.45%	20.43%	24.74%	-18.96%	24.82%	17.70%	28.94%	-6.97%	21.51%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	9.93%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between RETSX and VTCLX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.99

The correlation between RETSX and VTCLX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

RETSX vs. VTCLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RETSX

RETSX Risk / Return Rank: 43
RETSX Sharpe Ratio Rank: 43
RETSX Sortino Ratio Rank: 39
RETSX Omega Ratio Rank: 40
RETSX Calmar Ratio Rank: 42
RETSX Martin Ratio Rank: 52

VTCLX

VTCLX Risk / Return Rank: 57
VTCLX Sharpe Ratio Rank: 52
VTCLX Sortino Ratio Rank: 50
VTCLX Omega Ratio Rank: 49
VTCLX Calmar Ratio Rank: 60
VTCLX Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RETSX vs. VTCLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investment Tax-Managed U.S. Large Cap Fund (RETSX) 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.

	RETSX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.48	-0.13
Sortino ratio: Return per unit of downside risk	1.89	2.07	-0.18
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.83	2.19	-0.36
Martin ratio: Return relative to average drawdown	7.60	9.51	-1.91

RETSX vs. VTCLX - Sharpe Ratio Comparison

The current RETSX Sharpe Ratio is 1.35, which is comparable to the VTCLX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of RETSX 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

RETSX vs. VTCLX - Drawdown Comparison

The maximum RETSX drawdown since its inception was -57.35%, roughly equal to the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for RETSX and VTCLX.

Drawdown Indicators

	RETSX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-57.35%	-55.18%	-2.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.29%	-8.79%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-18.79%	-19.01%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-24.98%	-0.64%
Max Drawdown (10Y) Largest decline over 10 years	-33.52%	-34.56%	+1.04%
Current Drawdown Current decline from peak	-0.56%	-1.24%	+0.68%
Average Drawdown Average peak-to-trough decline	-10.49%	-7.53%	-2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.02%	+0.21%

Volatility

RETSX vs. VTCLX - Volatility Comparison

The current volatility for Russell Investment Tax-Managed U.S. Large Cap Fund (RETSX) is 3.29%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 3.47%. This indicates that RETSX 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

	RETSX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	3.47%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	10.17%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	12.98%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	17.32%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.80%	18.27%	-0.47%

RETSX vs. VTCLX - Expense Ratio Comparison

RETSX has a 0.92% expense ratio, which is higher than VTCLX's 0.05% expense ratio.

Dividends

RETSX vs. VTCLX - Dividend Comparison

RETSX's dividend yield for the trailing twelve months is around 0.40%, less than VTCLX's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RETSX Russell Investment Tax-Managed U.S. Large Cap Fund	0.40%	0.44%	0.49%	0.54%	0.59%	0.14%	0.47%	0.78%	0.90%	1.02%	0.84%	0.76%
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

Can I hold both RETSX and VTCLX in my portfolio?

With a correlation of 0.99, RETSX 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.

Which is riskier, RETSX or VTCLX?

VTCLX has higher volatility (3.47%) compared to RETSX (3.29%). In terms of maximum drawdown, RETSX dropped -57.35% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

VTCLX currently has the higher Sharpe Ratio (1.48 vs 1.35), 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.