VTCLX vs. VTI
VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) and VTI (Vanguard Total Stock Market ETF) are both Large Cap Blend Equities funds from Vanguard - VTCLX tracks the Russell 1000 Index while VTI tracks the CRSP US Total Market Index. Both are passively managed. Over the past 10 years, VTCLX returned 14.86%/yr vs 14.63%/yr for VTI. Their 0.99 correlation means they have historically moved very closely together. VTCLX charges 0.05%/yr vs 0.03%/yr for VTI.
Performance
VTCLX vs. VTI - Performance Comparison
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Returns By Period
In the year-to-date period, VTCLX achieves a 9.27% return, which is significantly lower than VTI's 10.49% return. Both investments have delivered pretty close results over the past 10 years, with VTCLX having a 14.86% annualized return and VTI not far behind at 14.63%.
VTCLX
- 1D
- 1.63%
- 1M
- -0.80%
- 6M
- 7.72%
- YTD
- 9.27%
- 1Y
- 20.40%
- 3Y*
- 18.54%
- 5Y*
- 11.93%
- 10Y*
- 14.86%
- ALL TIME*
- 10.08%
VTI
- 1D
- 0.53%
- 1M
- -0.15%
- 6M
- 8.77%
- YTD
- 10.49%
- 1Y
- 21.84%
- 3Y*
- 18.92%
- 5Y*
- 11.74%
- 10Y*
- 14.63%
- ALL TIME*
- 9.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.06B | $1.16B | $1.24B |
VTCLX vs. VTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 9.27% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 22.40% |
VTI Vanguard Total Stock Market ETF | 10.49% | 17.10% | 23.81% | 26.05% | -19.52% | 25.68% | 21.08% | 30.67% | -5.23% | 21.21% |
Correlation
The correlation between VTCLX and VTI is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 0.99 |
The correlation between VTCLX and VTI has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
VTCLX vs. VTI - Sectors Allocation Comparison
Sectors
VTCLX
VTI
Technology
Financial Services
Consumer Cyclical
Communication Services
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Basic Materials
Real Estate
Technology
VTCLX
VTI
Financial Services
VTCLX
VTI
Consumer Cyclical
VTCLX
VTI
Communication Services
VTCLX
VTI
Healthcare
VTCLX
VTI
Industrials
VTCLX
VTI
Consumer Defensive
VTCLX
VTI
Energy
VTCLX
VTI
Utilities
VTCLX
VTI
Basic Materials
VTCLX
VTI
Real Estate
VTCLX
VTI
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Return for Risk
VTCLX vs. VTI — Risk / Return Rank
VTCLX
VTI
VTCLX vs. VTI - 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 Vanguard Total Stock Market ETF (VTI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VTCLX | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.23 | -0.17 |
| Martin ratioReturn relative to average drawdown | 8.96 | 9.62 | -0.66 |
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Drawdowns
VTCLX vs. VTI - Drawdown Comparison
The maximum VTCLX drawdown since its inception was -55.18%, roughly equal to the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for VTCLX and VTI.
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Drawdown Indicators
| VTCLX | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -55.45% | +0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -8.92% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -19.30% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -25.36% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -35.00% | +0.44% |
Current DrawdownCurrent decline from peak | -1.83% | -1.36% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -7.53% | -7.99% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.07% | -0.05% |
Volatility
VTCLX vs. VTI - Volatility Comparison
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and Vanguard Total Stock Market ETF (VTI) have volatilities of 3.41% and 3.46%, 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 | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 3.46% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 10.24% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.97% | 13.10% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.33% | 17.51% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 18.30% | -0.03% |
VTCLX vs. VTI - Expense Ratio Comparison
VTCLX has a 0.05% expense ratio, which is higher than VTI's 0.03% 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%.
Dividends
VTCLX vs. VTI - Dividend Comparison
VTCLX's dividend yield for the trailing twelve months is around 0.91%, less than VTI's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 0.91% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
VTI Vanguard Total Stock Market ETF | 1.06% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
With a correlation of 0.99, VTCLX and VTI 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.
VTI has higher volatility (3.46%) compared to VTCLX (3.41%). In terms of maximum drawdown, VTCLX dropped -55.18% vs VTI's -55.45%.
VTI currently has the higher Sharpe Ratio (1.52 vs 1.40), 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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