VTCIX vs. VTSAX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) and Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX).

VTCIX is managed by BlackRock. It was launched on Feb 24, 1999. VTSAX is managed by Vanguard. It was launched on Nov 13, 2000.

Performance

VTCIX vs. VTSAX - 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 Total Stock Market Index Fund Admiral Shares (VTSAX). The values are adjusted to include any dividend payments, if applicable.

VTCIX vs. VTSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTCIX Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares	-6.78%	17.48%	23.81%	26.65%	-19.05%	26.92%	21.09%	31.51%	-4.95%	22.44%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	-6.75%	17.12%	23.23%	26.51%	-19.52%	25.72%	20.98%	30.79%	-5.18%	21.16%

Returns By Period

The year-to-date returns for both investments are quite close, with VTCIX having a -6.78% return and VTSAX slightly higher at -6.75%. Both investments have delivered pretty close results over the past 10 years, with VTCIX having a 13.69% annualized return and VTSAX not far behind at 13.27%.

VTCIX

• 1D: -0.40%
• 1M: -7.66%
• YTD: -6.78%
• 6M: -4.37%
• 1Y: 14.68%
• 3Y*: 16.87%
• 5Y*: 10.72%
• 10Y*: 13.69%

VTSAX

• 1D: -0.46%
• 1M: -7.71%
• YTD: -6.75%
• 6M: -4.47%
• 1Y: 14.76%
• 3Y*: 16.69%
• 5Y*: 10.11%
• 10Y*: 13.27%

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

VTCIX vs. VTSAX - Expense Ratio Comparison

VTCIX has a 0.06% expense ratio, which is higher than VTSAX's 0.04% 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%.

VTCIX

Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares

VTSAX

Vanguard Total Stock Market Index Fund Admiral Shares

Return for Risk

VTCIX vs. VTSAX — Risk / Return Rank

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

VTCIX

VTCIX Risk / Return Rank: 46
VTCIX Sharpe Ratio Rank: 41
VTCIX Sortino Ratio Rank: 44
VTCIX Omega Ratio Rank: 48
VTCIX Calmar Ratio Rank: 42
VTCIX Martin Ratio Rank: 53

VTSAX

VTSAX Risk / Return Rank: 46
VTSAX Sharpe Ratio Rank: 41
VTSAX Sortino Ratio Rank: 45
VTSAX Omega Ratio Rank: 49
VTSAX Calmar Ratio Rank: 41
VTSAX Martin Ratio Rank: 53

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. VTSAX - 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 Total Stock Market Index Fund Admiral Shares (VTSAX). 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	VTSAX	Difference
Sharpe ratio Return per unit of total volatility	0.84	0.84	+0.01
Sortino ratio Return per unit of downside risk	1.30	1.29	+0.01
Omega ratio Gain probability vs. loss probability	1.20	1.20	0.00
Calmar ratio Return relative to maximum drawdown	1.06	1.05	+0.02
Martin ratio Return relative to average drawdown	5.19	5.08	+0.11
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. VTSAX - Sharpe Ratio Comparison

The current VTCIX Sharpe Ratio is 0.84, which is comparable to the VTSAX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of VTCIX and VTSAX, 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	VTSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	0.84	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.59	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.72	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.43	0.00

Correlation

The correlation between VTCIX and VTSAX is 1.00, 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. VTSAX - Dividend Comparison

VTCIX's dividend yield for the trailing twelve months is around 1.04%, less than VTSAX's 1.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTCIX Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares	1.04%	0.96%	1.07%	1.27%	1.50%	1.07%	1.34%	1.55%	1.86%	1.60%	1.79%	1.73%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	1.20%	1.11%	1.26%	1.42%	1.65%	1.20%	1.41%	1.76%	2.03%	1.71%	1.92%	1.98%

Drawdowns

VTCIX vs. VTSAX - Drawdown Comparison

The maximum VTCIX drawdown since its inception was -55.17%, roughly equal to the maximum VTSAX drawdown of -55.33%. Use the drawdown chart below to compare losses from any high point for VTCIX and VTSAX.

Drawdown Indicators

	VTCIX	VTSAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.17%	-55.33%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-12.41%	+0.21%
Max Drawdown (5Y) Largest decline over 5 years	-24.96%	-25.36%	+0.40%
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	-34.97%	+0.41%
Current Drawdown Current decline from peak	-8.79%	-8.92%	+0.13%
Average Drawdown Average peak-to-trough decline	-12.04%	-9.06%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.56%	-0.06%

Volatility

VTCIX vs. VTSAX - Volatility Comparison

Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) and Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) have volatilities of 4.33% and 4.39%, 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

	VTCIX	VTSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.39%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.24%	9.33%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	18.42%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	17.32%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	18.37%	-0.14%