VTCLX vs. DFEOX
VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) and DFEOX (DFA US Core Equity 1 Portfolio I) are both Large Cap Blend Equities funds. Over the past 10 years, VTCLX returned 15.47%/yr vs 14.53%/yr for DFEOX. With a 0.98 correlation, they move nearly in lockstep. VTCLX charges 0.09%/yr vs 0.14%/yr for DFEOX.
Performance
VTCLX vs. DFEOX - Performance Comparison
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Returns By Period
In the year-to-date period, VTCLX achieves a 11.31% return, which is significantly lower than DFEOX's 12.32% return. Over the past 10 years, VTCLX has outperformed DFEOX with an annualized return of 15.47%, while DFEOX has yielded a comparatively lower 14.53% annualized return.
VTCLX
- 1D
- 0.22%
- 1M
- 5.61%
- YTD
- 11.31%
- 6M
- 11.26%
- 1Y
- 28.29%
- 3Y*
- 22.21%
- 5Y*
- 13.46%
- 10Y*
- 15.47%
DFEOX
- 1D
- 0.47%
- 1M
- 4.95%
- YTD
- 12.32%
- 6M
- 12.46%
- 1Y
- 28.75%
- 3Y*
- 21.37%
- 5Y*
- 12.84%
- 10Y*
- 14.53%
VTCLX vs. DFEOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 11.31% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 22.40% |
DFEOX DFA US Core Equity 1 Portfolio I | 12.32% | 16.00% | 21.35% | 22.97% | -14.99% | 27.51% | 16.44% | 30.20% | -7.81% | 20.26% |
Correlation
The correlation between VTCLX and DFEOX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2005 | 0.98 |
The correlation between VTCLX and DFEOX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
VTCLX vs. DFEOX — Risk / Return Rank
VTCLX
DFEOX
VTCLX vs. DFEOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and DFA US Core Equity 1 Portfolio I (DFEOX). 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.
| VTCLX | DFEOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.47 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 3.64 | -0.32 |
| Martin ratioReturn relative to average drawdown | 15.43 | 16.50 | -1.07 |
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
| VTCLX | DFEOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.43 | 2.64 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.77 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.81 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.55 | -0.02 |
Drawdowns
VTCLX vs. DFEOX - Drawdown Comparison
The maximum VTCLX drawdown since its inception was -55.18%, roughly equal to the maximum DFEOX drawdown of -56.77%. Use the drawdown chart below to compare losses from any high point for VTCLX and DFEOX.
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Drawdown Indicators
| VTCLX | DFEOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -56.77% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -8.28% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -19.24% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -22.86% | -2.12% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -36.55% | +1.99% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -7.19% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.82% | +0.07% |
Volatility
VTCLX vs. DFEOX - Volatility Comparison
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and DFA US Core Equity 1 Portfolio I (DFEOX) have volatilities of 2.86% and 2.88%, 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.
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Volatility by Period
| VTCLX | DFEOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 2.88% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.09% | 8.77% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.01% | 11.44% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 16.88% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.28% | 18.01% | +0.27% |
VTCLX vs. DFEOX - Expense Ratio Comparison
VTCLX has a 0.09% expense ratio, which is lower than DFEOX's 0.14% 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%.
Dividends
VTCLX vs. DFEOX - Dividend Comparison
VTCLX's dividend yield for the trailing twelve months is around 0.85%, less than DFEOX's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEOX DFA US Core Equity 1 Portfolio I | 0.95% | 1.06% | 1.13% | 1.43% | 4.08% | 3.69% | 1.36% | 3.02% | 2.37% | 1.61% | 1.61% | 2.98% |
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 0.85% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
Frequently Asked Questions
With a correlation of 0.95, VTCLX and DFEOX 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.
DFEOX has higher volatility (2.88%) compared to VTCLX (2.86%). In terms of maximum drawdown, VTCLX dropped -55.18% vs DFEOX's -56.77%.
DFEOX currently has the higher Sharpe Ratio (2.64 vs 2.43), 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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