VTCLX vs. MAMTX
VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) and MAMTX (Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust) are both mutual funds - VTCLX is a Large Cap Blend Equities fund managed by BlackRock, while MAMTX is a Municipal Bonds fund managed by BlackRock. Over the past 10 years, VTCLX returned 15.47%/yr vs 2.14%/yr for MAMTX. At a correlation of -0.04, they often move in opposite directions. VTCLX charges 0.09%/yr vs 0.55%/yr for MAMTX.
Performance
VTCLX vs. MAMTX - Performance Comparison
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Returns By Period
In the year-to-date period, VTCLX achieves a 11.31% return, which is significantly higher than MAMTX's 2.14% return. Over the past 10 years, VTCLX has outperformed MAMTX with an annualized return of 15.47%, while MAMTX has yielded a comparatively lower 2.14% 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%
MAMTX
- 1D
- 0.29%
- 1M
- 0.90%
- YTD
- 2.14%
- 6M
- 2.48%
- 1Y
- 7.32%
- 3Y*
- 4.34%
- 5Y*
- 0.62%
- 10Y*
- 2.14%
VTCLX vs. MAMTX - 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% |
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 2.14% | 3.97% | 3.90% | 4.89% | -12.11% | 5.84% | 0.58% | 6.81% | 1.27% | 8.05% |
Correlation
The correlation between VTCLX and MAMTX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | -0.04 |
The correlation between VTCLX and MAMTX shifts across timeframes, from -0.04 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VTCLX vs. MAMTX — Risk / Return Rank
VTCLX
MAMTX
VTCLX vs. MAMTX - 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 Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX). 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 | MAMTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.54 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 2.54 | +0.78 |
| Martin ratioReturn relative to average drawdown | 15.43 | 8.54 | +6.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTCLX | MAMTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.43 | 2.29 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.13 | +0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.44 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.19 | -0.66 |
Drawdowns
VTCLX vs. MAMTX - Drawdown Comparison
The maximum VTCLX drawdown since its inception was -55.18%, which is greater than MAMTX's maximum drawdown of -16.83%. Use the drawdown chart below to compare losses from any high point for VTCLX and MAMTX.
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Drawdown Indicators
| VTCLX | MAMTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -16.83% | -38.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -2.85% | -5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -6.33% | -12.68% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -16.83% | -8.15% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -16.83% | -17.73% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -2.06% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 0.85% | +1.04% |
Volatility
VTCLX vs. MAMTX - Volatility Comparison
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a higher volatility of 2.86% compared to Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust (MAMTX) at 1.14%. This indicates that VTCLX's price experiences larger fluctuations and is considered to be riskier than MAMTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTCLX | MAMTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 1.14% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 9.09% | 2.28% | +6.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.01% | 3.18% | +8.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 4.78% | +12.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.28% | 4.84% | +13.44% |
VTCLX vs. MAMTX - Expense Ratio Comparison
VTCLX has a 0.09% expense ratio, which is lower than MAMTX's 0.55% expense ratio.
Dividends
VTCLX vs. MAMTX - Dividend Comparison
VTCLX's dividend yield for the trailing twelve months is around 0.85%, less than MAMTX's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAMTX Blackrock Strategic Municipal Opportunities Fund Of Blackrock Municipal Series Trust | 3.90% | 5.00% | 4.23% | 2.70% | 1.96% | 2.00% | 2.39% | 2.83% | 4.74% | 2.89% | 3.91% | 2.84% |
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
VTCLX and MAMTX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTCLX has higher volatility (2.86%) compared to MAMTX (1.14%). In terms of maximum drawdown, VTCLX dropped -55.18% vs MAMTX's -16.83%.
VTCLX currently has the higher Sharpe Ratio (2.43 vs 2.29), 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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