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VSTCX vs. VTMSX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VSTCX vs. VTMSX

Last updated Aug 4, 2026
Documentation

VSTCX (Vanguard Strategic Small-Cap Equity Fund) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both Small Cap Blend Equities funds from Vanguard. VSTCX is actively managed, while VTMSX is passively managed. Over the past 10 years, VSTCX returned 12.71%/yr vs 10.90%/yr for VTMSX. Their 0.98 correlation means they have historically moved very closely together. VSTCX charges 0.21%/yr vs 0.05%/yr for VTMSX.

Performance

VSTCX vs. VTMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Strategic Small-Cap Equity Fund (VSTCX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with VSTCX having a 21.34% return and VTMSX slightly higher at 21.81%. Over the past 10 years, VSTCX has outperformed VTMSX with an annualized return of 12.71%, while VTMSX has yielded a comparatively lower 10.90% annualized return.

VSTCX

1D
-0.37%
1M
-1.49%
6M
15.58%
YTD
21.34%
1Y
41.90%
3Y*
19.65%
5Y*
12.85%
10Y*
12.71%
ALL TIME*
9.44%

VTMSX

1D
-0.10%
1M
-0.66%
6M
14.07%
YTD
21.81%
1Y
35.99%
3Y*
13.45%
5Y*
7.50%
10Y*
10.90%
ALL TIME*
10.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VSTCX

Vanguard Strategic Small-Cap Equity Fund
$0.00$0.00$0.00

VTMSX

Vanguard Tax-Managed Small-Cap Fund Admiral Shares
$0.00$0.00$0.00

VSTCX vs. VTMSX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSTCX
Vanguard Strategic Small-Cap Equity Fund		21.34%15.20%15.40%21.34%-13.00%33.53%8.38%22.18%-11.87%9.21%
VTMSX
Vanguard Tax-Managed Small-Cap Fund Admiral Shares		21.81%5.93%8.61%15.95%-16.16%27.08%11.05%23.28%-8.62%13.05%

Correlation

The correlation between VSTCX and VTMSX is 0.96 - 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.

0.96

Correlation (3Y)
Balances recent behavior with more history.

0.97

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.98

Correlation (10Y)
Provides a long-term view across more market conditions.

0.97

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2006

0.98

The correlation between VSTCX and VTMSX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

VSTCX vs. VTMSX - Sectors Allocation Comparison

Sectors
VSTCX
VTMSX

Financial Services

18.3%
17.1%

Industrials

16.1%
15.6%

Technology

14.9%
15.5%

Healthcare

14.1%
12.2%

Consumer Cyclical

11.1%
13.4%

Real Estate

6.5%
7.6%

Energy

6.2%
4.9%

Basic Materials

5.2%
4.8%

Consumer Defensive

3.0%
4.0%

Communication Services

2.4%
3.2%

Utilities

2.3%
1.7%

Financial Services

VSTCX
18.3%
VTMSX
17.1%

Industrials

VSTCX
16.1%
VTMSX
15.6%

Technology

VSTCX
14.9%
VTMSX
15.5%

Healthcare

VSTCX
14.1%
VTMSX
12.2%

Consumer Cyclical

VSTCX
11.1%
VTMSX
13.4%

Real Estate

VSTCX
6.5%
VTMSX
7.6%

Energy

VSTCX
6.2%
VTMSX
4.9%

Basic Materials

VSTCX
5.2%
VTMSX
4.8%

Consumer Defensive

VSTCX
3.0%
VTMSX
4.0%

Communication Services

VSTCX
2.4%
VTMSX
3.2%

Utilities

VSTCX
2.3%
VTMSX
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Strategic Small-Cap Equity Fund

Vanguard Tax-Managed Small-Cap Fund Admiral Shares

Often compared with VSTCX:
VSTCX vs. VPMAXVSTCX vs. OBMCXVSTCX vs. VSGAXVSTCX vs. AVUVVSTCX vs. VOOVSTCX vs. VFIAXVSTCX vs. VEIRX
Often compared with VTMSX:
VTMSX vs. VSMAXVTMSX vs. VTCLXVTMSX vs. AVUVVTMSX vs. VFIAXVTMSX vs. ^SP600VTMSX vs. FSMDXVTMSX vs. FNDA

Return for Risk

VSTCX vs. VTMSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VSTCX
VSTCX Risk / Return Rank: 9090
Overall Rank
VSTCX Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
VSTCX Sortino Ratio Rank: 8686
Sortino Ratio Rank
VSTCX Omega Ratio Rank: 8181
Omega Ratio Rank
VSTCX Calmar Ratio Rank: 9696
Calmar Ratio Rank
VSTCX Martin Ratio Rank: 9696
Martin Ratio Rank
VTMSX
VTMSX Risk / Return Rank: 8484
Overall Rank
VTMSX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VTMSX Sortino Ratio Rank: 8181
Sortino Ratio Rank
VTMSX Omega Ratio Rank: 7575
Omega Ratio Rank
VTMSX Calmar Ratio Rank: 9393
Calmar Ratio Rank
VTMSX Martin Ratio Rank: 9191
Martin Ratio Rank
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.

VSTCX vs. VTMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Strategic Small-Cap Equity Fund (VSTCX) 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.

VSTCXVTMSXDifference
Sharpe ratioReturn per unit of total volatility
2.24
1.96

+0.28

Sortino ratioReturn per unit of downside risk
3.17
2.88

+0.29

Omega ratioGain probability vs. loss probability

1.39

1.34

+0.05

Calmar ratioReturn relative to maximum drawdown

4.88

3.95

+0.93

Martin ratioReturn relative to average drawdown

17.09

13.44

+3.65

VSTCX vs. VTMSX - Sharpe Ratio Comparison

The current VSTCX Sharpe Ratio is 2.24, which is comparable to the VTMSX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of VSTCX and VTMSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VSTCX vs. VTMSX - Drawdown Comparison

The maximum VSTCX drawdown since its inception was -62.50%, which is greater than VTMSX's maximum drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for VSTCX and VTMSX.

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Drawdown Indicators

VSTCXVTMSXDifference

Max Drawdown

Largest peak-to-trough decline

-62.50%

-57.84%

-4.66%

Max Drawdown (1Y)

Largest decline over 1 year

-8.08%

-8.59%

+0.51%

Max Drawdown (3Y)

Largest decline over 3 years

-27.47%

-27.93%

+0.46%

Max Drawdown (5Y)

Largest decline over 5 years

-27.47%

-27.93%

+0.46%

Max Drawdown (10Y)

Largest decline over 10 years

-48.08%

-43.88%

-4.20%

Current Drawdown

Current decline from peak

-3.22%

-1.91%

-1.31%

Average Drawdown

Average peak-to-trough decline

-10.58%

-8.88%

-1.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.31%

2.52%

-0.21%

Volatility

VSTCX vs. VTMSX - Volatility Comparison

Vanguard Strategic Small-Cap Equity Fund (VSTCX) has a higher volatility of 3.80% compared to Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) at 3.44%. This indicates that VSTCX'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

VSTCXVTMSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.80%

3.44%

+0.36%

Volatility (6M)

Calculated over the trailing 6-month period

12.47%

11.66%

+0.81%

Volatility (1Y)

Calculated over the trailing 1-year period

17.64%

17.38%

+0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.87%

21.31%

+0.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.42%

23.07%

+0.35%

VSTCX vs. VTMSX - Expense Ratio Comparison

VSTCX has a 0.21% 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

VSTCX vs. VTMSX - Dividend Comparison

VSTCX's dividend yield for the trailing twelve months is around 6.22%, more than VTMSX's 1.20% yield.

PositionTTM20252024202320222021202020192018201720162015
VSTCX
Vanguard Strategic Small-Cap Equity Fund		6.22%7.55%9.66%2.50%7.44%19.92%1.24%4.14%11.74%5.76%1.35%2.33%
VTMSX
Vanguard Tax-Managed Small-Cap Fund Admiral Shares		1.20%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

With a correlation of 0.96, VSTCX and VTMSX 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.

VSTCX has higher volatility (3.80%) compared to VTMSX (3.44%). In terms of maximum drawdown, VSTCX dropped -62.50% vs VTMSX's -57.84%.

VSTCX currently has the higher Sharpe Ratio (2.24 vs 1.96), 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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