VTMSX vs. TISBX
VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) and TISBX (TIAA-CREF Small-Cap Blend Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, VTMSX returned 10.75%/yr vs 10.62%/yr for TISBX. Their 0.98 correlation means they have historically moved very closely together. VTMSX charges 0.09%/yr vs 0.05%/yr for TISBX.
Performance
VTMSX vs. TISBX - Performance Comparison
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Returns By Period
In the year-to-date period, VTMSX achieves a 21.93% return, which is significantly higher than TISBX's 19.47% return. Both investments have delivered pretty close results over the past 10 years, with VTMSX having a 10.75% annualized return and TISBX not far behind at 10.62%.
VTMSX
- 1D
- 0.86%
- 1M
- -0.56%
- 6M
- 15.49%
- YTD
- 21.93%
- 1Y
- 36.13%
- 3Y*
- 13.30%
- 5Y*
- 7.52%
- 10Y*
- 10.75%
- ALL TIME*
- 10.61%
TISBX
- 1D
- 1.35%
- 1M
- -1.63%
- 6M
- 13.41%
- YTD
- 19.47%
- 1Y
- 37.61%
- 3Y*
- 15.32%
- 5Y*
- 7.28%
- 10Y*
- 10.62%
- ALL TIME*
- 9.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VTMSX vs. TISBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 21.93% | 5.93% | 8.61% | 15.95% | -16.16% | 27.08% | 11.05% | 23.28% | -8.62% | 13.05% |
TISBX TIAA-CREF Small-Cap Blend Index Fund | 19.47% | 12.72% | 11.60% | 17.07% | -20.31% | 14.85% | 20.14% | 25.61% | -10.99% | 13.14% |
Correlation
The correlation between VTMSX and TISBX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2002 | 0.98 |
The correlation between VTMSX and TISBX has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
VTMSX vs. TISBX — Risk / Return Rank
VTMSX
TISBX
VTMSX vs. TISBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) and TIAA-CREF Small-Cap Blend Index Fund (TISBX). 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.
| VTMSX | TISBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 3.09 | +0.69 |
| Martin ratioReturn relative to average drawdown | 12.88 | 10.95 | +1.93 |
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Drawdowns
VTMSX vs. TISBX - Drawdown Comparison
The maximum VTMSX drawdown since its inception was -57.84%, roughly equal to the maximum TISBX drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for VTMSX and TISBX.
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Drawdown Indicators
| VTMSX | TISBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.84% | -56.50% | -1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -10.95% | +2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -27.93% | -27.44% | -0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -31.89% | +3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -43.88% | -41.69% | -2.19% |
Current DrawdownCurrent decline from peak | -1.82% | -2.53% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -9.63% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 3.09% | -0.56% |
Volatility
VTMSX vs. TISBX - Volatility Comparison
The current volatility for Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) is 3.47%, while TIAA-CREF Small-Cap Blend Index Fund (TISBX) has a volatility of 3.81%. This indicates that VTMSX experiences smaller price fluctuations and is considered to be less risky than TISBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTMSX | TISBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 3.81% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 14.08% | -2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 19.42% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 22.52% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.07% | 23.41% | -0.34% |
VTMSX vs. TISBX - Expense Ratio Comparison
VTMSX has a 0.09% expense ratio, which is higher than TISBX's 0.05% 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
VTMSX vs. TISBX - Dividend Comparison
VTMSX's dividend yield for the trailing twelve months is around 1.19%, less than TISBX's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TISBX TIAA-CREF Small-Cap Blend Index Fund | 3.45% | 4.12% | 6.82% | 3.09% | 1.97% | 8.96% | 2.65% | 5.16% | 9.29% | 4.49% | 4.03% | 4.77% |
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares | 1.19% | 1.28% | 1.44% | 1.50% | 1.51% | 1.16% | 1.09% | 1.15% | 1.26% | 1.11% | 1.01% | 1.26% |
Frequently Asked Questions
With a correlation of 0.92, VTMSX and TISBX 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.
TISBX has higher volatility (3.81%) compared to VTMSX (3.47%). In terms of maximum drawdown, VTMSX dropped -57.84% vs TISBX's -56.50%.
VTMSX currently has the higher Sharpe Ratio (1.87 vs 1.74), 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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