VTCIX vs. VITAX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) and Vanguard Information Technology Index Fund Admiral Shares (VITAX).

VTCIX is managed by BlackRock. It was launched on Feb 24, 1999. VITAX is a passively managed fund by Vanguard that tracks the performance of the MSCI US IMI Info Technology 25/50. It was launched on Mar 25, 2004.

Performance

VTCIX vs. VITAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) and Vanguard Information Technology Index Fund Admiral Shares (VITAX). The values are adjusted to include any dividend payments, if applicable.

VTCIX vs. VITAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTCIX Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares	-4.05%	17.48%	23.81%	26.65%	-19.05%	26.92%	21.09%	31.51%	-4.95%	22.44%
VITAX Vanguard Information Technology Index Fund Admiral Shares	-7.30%	21.78%	29.26%	52.69%	-29.67%	30.36%	45.93%	48.72%	2.51%	37.07%

Returns By Period

In the year-to-date period, VTCIX achieves a -4.05% return, which is significantly higher than VITAX's -7.30% return. Over the past 10 years, VTCIX has underperformed VITAX with an annualized return of 14.02%, while VITAX has yielded a comparatively higher 21.35% annualized return.

VTCIX

• 1D: 2.93%
• 1M: -5.03%
• YTD: -4.05%
• 6M: -1.89%
• 1Y: 17.54%
• 3Y*: 18.00%
• 5Y*: 11.08%
• 10Y*: 14.02%

VITAX

• 1D: 4.32%
• 1M: -4.86%
• YTD: -7.30%
• 6M: -7.06%
• 1Y: 28.08%
• 3Y*: 22.58%
• 5Y*: 14.54%
• 10Y*: 21.35%

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

VTCIX vs. VITAX - Expense Ratio Comparison

VTCIX has a 0.06% expense ratio, which is lower than VITAX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VITAX

Vanguard Information Technology Index Fund Admiral Shares

VTCIX

Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares

Return for Risk

VTCIX vs. VITAX — Risk / Return Rank

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

VTCIX

VTCIX Risk / Return Rank: 58
VTCIX Sharpe Ratio Rank: 47
VTCIX Sortino Ratio Rank: 52
VTCIX Omega Ratio Rank: 54
VTCIX Calmar Ratio Rank: 62
VTCIX Martin Ratio Rank: 74

VITAX

VITAX Risk / Return Rank: 61
VITAX Sharpe Ratio Rank: 56
VITAX Sortino Ratio Rank: 63
VITAX Omega Ratio Rank: 57
VITAX Calmar Ratio Rank: 74
VITAX Martin Ratio Rank: 56

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.

VTCIX vs. VITAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) and Vanguard Information Technology Index Fund Admiral Shares (VITAX). 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.

	VTCIX	VITAX	Difference
Sharpe ratio Return per unit of total volatility	0.98	1.06	-0.08
Sortino ratio Return per unit of downside risk	1.51	1.64	-0.14
Omega ratio Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio Return relative to maximum drawdown	1.53	1.77	-0.25
Martin ratio Return relative to average drawdown	7.37	5.48	+1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTCIX vs. VITAX - Sharpe Ratio Comparison

The current VTCIX Sharpe Ratio is 0.98, which is comparable to the VITAX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of VTCIX and VITAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VTCIX	VITAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	1.06	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.58	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.87	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.59	-0.16

Correlation

The correlation between VTCIX and VITAX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VTCIX vs. VITAX - Dividend Comparison

VTCIX's dividend yield for the trailing twelve months is around 1.01%, more than VITAX's 0.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTCIX Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares	1.01%	0.96%	1.07%	1.27%	1.50%	1.07%	1.34%	1.55%	1.86%	1.60%	1.79%	1.73%
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.44%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Drawdowns

VTCIX vs. VITAX - Drawdown Comparison

The maximum VTCIX drawdown since its inception was -55.17%, roughly equal to the maximum VITAX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VTCIX and VITAX.

Drawdown Indicators

	VTCIX	VITAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.17%	-54.81%	-0.36%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-16.38%	+4.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.96%	-35.10%	+10.14%
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	-35.10%	+0.54%
Current Drawdown Current decline from peak	-6.12%	-12.77%	+6.65%
Average Drawdown Average peak-to-trough decline	-12.04%	-8.06%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	5.30%	-2.77%

Volatility

VTCIX vs. VITAX - Volatility Comparison

The current volatility for Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is 5.42%, while Vanguard Information Technology Index Fund Admiral Shares (VITAX) has a volatility of 8.04%. This indicates that VTCIX experiences smaller price fluctuations and is considered to be less risky than VITAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTCIX	VITAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	8.04%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	16.41%	-6.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.43%	27.65%	-9.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	25.29%	-8.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	24.72%	-6.47%