TRCSX vs. VTMSX
TRCSX (T. Rowe Price Small-Cap Index Fund) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both Small Cap Blend Equities funds. Over the past 5 years, TRCSX returned 7.17%/yr vs 7.52%/yr for VTMSX. Their correlation of 0.92 means they have usually moved in the same direction. TRCSX charges 0.14%/yr vs 0.05%/yr for VTMSX.
Performance
TRCSX vs. VTMSX - Performance Comparison
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Returns By Period
In the year-to-date period, TRCSX achieves a 19.49% return, which is significantly lower than VTMSX's 21.93% return.
TRCSX
- 1D
- 1.38%
- 1M
- -1.62%
- 6M
- 13.37%
- YTD
- 19.49%
- 1Y
- 34.86%
- 3Y*
- 15.23%
- 5Y*
- 7.17%
- 10Y*
- —
- ALL TIME*
- 7.41%
VTMSX
- 1D
- 0.86%
- 1M
- -0.56%
- 6M
- 15.49%
- YTD
- 21.93%
- 1Y
- 36.13%
- 3Y*
- 13.30%
- 5Y*
- 7.52%
- 10Y*
- 10.75%
- ALL TIME*
- 10.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TRCSX vs. VTMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TRCSX T. Rowe Price Small-Cap Index Fund | 19.49% | 12.72% | 11.36% | 16.97% | -20.47% | 4.05% |
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 21.93% | 5.93% | 8.61% | 15.95% | -16.16% | 9.39% |
Correlation
The correlation between TRCSX and VTMSX is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.92 |
The correlation between TRCSX and VTMSX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
TRCSX vs. VTMSX — Risk / Return Rank
TRCSX
VTMSX
TRCSX vs. VTMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Small-Cap Index Fund (TRCSX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). 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.
| TRCSX | VTMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 3.79 | -0.38 |
| Martin ratioReturn relative to average drawdown | 11.86 | 12.88 | -1.02 |
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Drawdowns
TRCSX vs. VTMSX - Drawdown Comparison
The maximum TRCSX drawdown since its inception was -31.94%, smaller than the maximum VTMSX drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for TRCSX and VTMSX.
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Drawdown Indicators
| TRCSX | VTMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.94% | -57.84% | +25.90% |
Max Drawdown (1Y)Largest decline over 1 year | -10.96% | -8.59% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -27.82% | -27.93% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -31.94% | -27.93% | -4.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.88% | — |
Current DrawdownCurrent decline from peak | -2.55% | -1.82% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -13.12% | -8.88% | -4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 2.53% | +0.53% |
Volatility
TRCSX vs. VTMSX - Volatility Comparison
T. Rowe Price Small-Cap Index Fund (TRCSX) has a higher volatility of 3.82% compared to Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) at 3.47%. This indicates that TRCSX's price experiences larger fluctuations and is considered to be riskier than VTMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRCSX | VTMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 3.47% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 11.67% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.69% | 17.40% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.12% | 21.32% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.94% | 23.07% | -0.13% |
TRCSX vs. VTMSX - Expense Ratio Comparison
TRCSX has a 0.14% expense ratio, which is higher than VTMSX's 0.05% 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
TRCSX vs. VTMSX - Dividend Comparison
TRCSX's dividend yield for the trailing twelve months is around 2.00%, more than VTMSX's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRCSX T. Rowe Price Small-Cap Index Fund | 2.00% | 2.39% | 3.18% | 1.27% | 1.58% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 1.19% | 1.28% | 1.44% | 1.50% | 1.51% | 1.16% | 1.09% | 1.15% | 1.26% | 1.11% | 1.01% | 1.26% |
Frequently Asked Questions
TRCSX and VTMSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRCSX has higher volatility (3.82%) compared to VTMSX (3.47%). In terms of maximum drawdown, TRCSX dropped -31.94% vs VTMSX's -57.84%.
TRCSX currently has the higher Sharpe Ratio (1.90 vs 1.87), 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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