VTCLX vs. FSTFX
Compare and contrast key facts about Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and Fidelity Limited Term Municipal Income Fund (FSTFX).
VTCLX is managed by BlackRock. It was launched on Sep 6, 1994. FSTFX is managed by Fidelity. It was launched on Dec 24, 1986.
Performance
VTCLX vs. FSTFX - Performance Comparison
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VTCLX vs. FSTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | -6.78% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 22.40% |
FSTFX Fidelity Limited Term Municipal Income Fund | -0.18% | 5.36% | 2.36% | 3.85% | -4.90% | 0.15% | 3.23% | 4.19% | 1.28% | 2.35% |
Returns By Period
In the year-to-date period, VTCLX achieves a -6.78% return, which is significantly lower than FSTFX's -0.18% return. Over the past 10 years, VTCLX has outperformed FSTFX with an annualized return of 13.66%, while FSTFX has yielded a comparatively lower 1.62% annualized return.
VTCLX
- 1D
- -0.40%
- 1M
- -7.66%
- YTD
- -6.78%
- 6M
- -4.38%
- 1Y
- 14.65%
- 3Y*
- 16.84%
- 5Y*
- 10.69%
- 10Y*
- 13.66%
FSTFX
- 1D
- 0.00%
- 1M
- -1.49%
- YTD
- -0.18%
- 6M
- 0.45%
- 1Y
- 3.66%
- 3Y*
- 3.31%
- 5Y*
- 1.31%
- 10Y*
- 1.62%
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VTCLX vs. FSTFX - Expense Ratio Comparison
VTCLX has a 0.09% expense ratio, which is lower than FSTFX's 0.37% expense ratio.
Return for Risk
VTCLX vs. FSTFX — Risk / Return Rank
VTCLX
FSTFX
VTCLX vs. FSTFX - 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 Fidelity Limited Term Municipal Income Fund (FSTFX). 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 | FSTFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.99 | -1.15 |
Sortino ratioReturn per unit of downside risk | 1.30 | 2.83 | -1.53 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.69 | -0.49 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 2.12 | -1.06 |
Martin ratioReturn relative to average drawdown | 5.18 | 8.94 | -3.76 |
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 | FSTFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.99 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.69 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.80 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.57 | -1.08 |
Correlation
The correlation between VTCLX and FSTFX is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
VTCLX vs. FSTFX - Dividend Comparison
VTCLX's dividend yield for the trailing twelve months is around 1.01%, less than FSTFX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 1.01% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
FSTFX Fidelity Limited Term Municipal Income Fund | 2.35% | 2.99% | 2.03% | 1.70% | 0.92% | 1.08% | 1.58% | 1.92% | 1.65% | 1.56% | 1.60% | 1.62% |
Drawdowns
VTCLX vs. FSTFX - Drawdown Comparison
The maximum VTCLX drawdown since its inception was -55.18%, which is greater than FSTFX's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for VTCLX and FSTFX.
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Drawdown Indicators
| VTCLX | FSTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -9.50% | -45.68% |
Max Drawdown (1Y)Largest decline over 1 year | -12.20% | -2.00% | -10.20% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -7.65% | -17.33% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -7.65% | -26.91% |
Current DrawdownCurrent decline from peak | -8.79% | -1.49% | -7.30% |
Average DrawdownAverage peak-to-trough decline | -7.61% | -0.98% | -6.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 0.47% | +2.03% |
Volatility
VTCLX vs. FSTFX - Volatility Comparison
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a higher volatility of 4.33% compared to Fidelity Limited Term Municipal Income Fund (FSTFX) at 0.53%. This indicates that VTCLX's price experiences larger fluctuations and is considered to be riskier than FSTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTCLX | FSTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 0.53% | +3.80% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 0.94% | +8.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.24% | 2.14% | +16.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 1.91% | +15.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 2.04% | +16.20% |