TCGAX vs. VTMFX

Last updated Jun 20, 2026

TCGAX (Timothy Plan Conservative Growth Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, TCGAX returned 4.15%/yr vs 8.63%/yr for VTMFX. Their correlation of 0.90 suggests significant overlap in exposure. TCGAX charges 1.04%/yr vs 0.05%/yr for VTMFX.

Performance

TCGAX vs. VTMFX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with TCGAX having a 5.25% return and VTMFX slightly higher at 5.44%. Over the past 10 years, TCGAX has underperformed VTMFX with an annualized return of 4.15%, while VTMFX has yielded a comparatively higher 8.63% annualized return.

TCGAX

• 1D: 0.43%
• 1M: 1.39%
• YTD: 5.25%
• 6M: 5.15%
• 1Y: 11.70%
• 3Y*: 8.06%
• 5Y*: 3.10%
• 10Y*: 4.15%

VTMFX

• 1D: 0.57%
• 1M: 1.20%
• YTD: 5.44%
• 6M: 5.61%
• 1Y: 15.82%
• 3Y*: 11.93%
• 5Y*: 7.23%
• 10Y*: 8.63%

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

TCGAX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TCGAX Timothy Plan Conservative Growth Fund	5.25%	10.54%	4.29%	6.59%	-12.86%	7.61%	7.71%	14.78%	-9.25%	8.29%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.44%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between TCGAX and VTMFX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 17, 2000	0.90

The correlation between TCGAX and VTMFX shifts across timeframes, from 0.79 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TCGAX vs. VTMFX — Risk / Return Rank

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

TCGAX

TCGAX Risk / Return Rank: 35
TCGAX Sharpe Ratio Rank: 34
TCGAX Sortino Ratio Rank: 34
TCGAX Omega Ratio Rank: 34
TCGAX Calmar Ratio Rank: 34
TCGAX Martin Ratio Rank: 37

VTMFX

VTMFX Risk / Return Rank: 79
VTMFX Sharpe Ratio Rank: 83
VTMFX Sortino Ratio Rank: 81
VTMFX Omega Ratio Rank: 80
VTMFX Calmar Ratio Rank: 68
VTMFX 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.

TCGAX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan Conservative Growth Fund (TCGAX) 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.

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.

	TCGAX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.45	-0.90
Sortino ratio: Return per unit of downside risk	2.25	3.45	-1.20
Omega ratio: Gain probability vs. loss probability	1.28	1.47	-0.19
Calmar ratio: Return relative to maximum drawdown	2.07	2.93	-0.86
Martin ratio: Return relative to average drawdown	7.66	13.72	-6.06

TCGAX vs. VTMFX - Sharpe Ratio Comparison

The current TCGAX Sharpe Ratio is 1.55, which is lower than the VTMFX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of TCGAX 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.

Drawdowns

TCGAX vs. VTMFX - Drawdown Comparison

The maximum TCGAX drawdown since its inception was -40.54%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for TCGAX and VTMFX.

Drawdown Indicators

	TCGAX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-40.54%	-28.49%	-12.05%
Max Drawdown (1Y) Largest decline over 1 year	-5.57%	-5.38%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-7.75%	-10.61%	+2.86%
Max Drawdown (5Y) Largest decline over 5 years	-17.77%	-17.40%	-0.37%
Max Drawdown (10Y) Largest decline over 10 years	-20.35%	-21.87%	+1.52%
Current Drawdown Current decline from peak	-0.43%	-0.56%	+0.13%
Average Drawdown Average peak-to-trough decline	-6.27%	-3.54%	-2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.15%	+0.35%

Volatility

TCGAX vs. VTMFX - Volatility Comparison

Timothy Plan Conservative Growth Fund (TCGAX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 2.59% and 2.50%, 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

	TCGAX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	2.50%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	5.82%	5.21%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	7.45%	6.45%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.82%	8.57%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.36%	9.15%	-0.79%

TCGAX vs. VTMFX - Expense Ratio Comparison

TCGAX has a 1.04% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

TCGAX vs. VTMFX - Dividend Comparison

TCGAX's dividend yield for the trailing twelve months is around 1.09%, less than VTMFX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCGAX Timothy Plan Conservative Growth Fund	1.09%	1.14%	3.45%	1.65%	5.35%	4.01%	2.56%	3.64%	2.47%	0.31%	0.00%	7.45%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.12%	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 TCGAX and VTMFX in my portfolio?

TCGAX and VTMFX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCGAX or VTMFX?

TCGAX has higher volatility (2.59%) compared to VTMFX (2.50%). In terms of maximum drawdown, TCGAX dropped -40.54% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.45 vs 1.55), 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.