VCRM vs. VTMFX
Compare and contrast key facts about Vanguard Core Tax-Exempt Bond ETF (VCRM) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX).
VCRM is a passively managed fund by Vanguard that tracks the performance of the S&P Broad AMT-Free Municipal Bond Index. It was launched on Nov 21, 2024. VTMFX is managed by BlackRock. It was launched on Sep 6, 1994.
Performance
VCRM vs. VTMFX - Performance Comparison
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VCRM vs. VTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VCRM Vanguard Core Tax-Exempt Bond ETF | 0.34% | 4.91% | -0.58% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | -2.15% | 11.28% | -0.76% |
Returns By Period
In the year-to-date period, VCRM achieves a 0.34% return, which is significantly higher than VTMFX's -2.15% return.
VCRM
- 1D
- 0.30%
- 1M
- -1.55%
- YTD
- 0.34%
- 6M
- 1.86%
- 1Y
- 4.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTMFX
- 1D
- 1.46%
- 1M
- -3.58%
- YTD
- -2.15%
- 6M
- -0.34%
- 1Y
- 10.95%
- 3Y*
- 10.43%
- 5Y*
- 6.18%
- 10Y*
- 7.97%
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VCRM vs. VTMFX - Expense Ratio Comparison
VCRM has a 0.12% expense ratio, which is higher than VTMFX's 0.09% 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%.
Return for Risk
VCRM vs. VTMFX — Risk / Return Rank
VCRM
VTMFX
VCRM vs. VTMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Tax-Exempt Bond ETF (VCRM) 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.
| VCRM | VTMFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 1.34 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.53 | 1.94 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.29 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.73 | -0.10 |
Martin ratioReturn relative to average drawdown | 4.63 | 8.12 | -3.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCRM | VTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.34 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.82 | +0.04 |
Correlation
The correlation between VCRM and VTMFX is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VCRM vs. VTMFX - Dividend Comparison
VCRM's dividend yield for the trailing twelve months is around 3.59%, more than VTMFX's 2.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCRM Vanguard Core Tax-Exempt Bond ETF | 3.59% | 3.42% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 2.28% | 2.14% | 2.08% | 1.94% | 1.85% | 1.38% | 1.72% | 2.05% | 2.22% | 2.00% | 2.13% | 2.06% |
Drawdowns
VCRM vs. VTMFX - Drawdown Comparison
The maximum VCRM drawdown since its inception was -4.12%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for VCRM and VTMFX.
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Drawdown Indicators
| VCRM | VTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -28.49% | +24.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -6.82% | +3.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.87% | — |
Current DrawdownCurrent decline from peak | -1.83% | -4.00% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -3.57% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.45% | -0.32% |
Volatility
VCRM vs. VTMFX - Volatility Comparison
The current volatility for Vanguard Core Tax-Exempt Bond ETF (VCRM) is 1.49%, while Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) has a volatility of 2.86%. This indicates that VCRM experiences smaller price fluctuations and is considered to be less risky than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCRM | VTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 2.86% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 4.82% | -2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.02% | 8.55% | -4.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 8.51% | -4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 9.10% | -5.10% |