VTSIX vs. IWL
Compare and contrast key facts about Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) and iShares Russell Top 200 ETF (IWL).
VTSIX is managed by BlackRock. It was launched on Apr 21, 1999. IWL is a passively managed fund by iShares that tracks the performance of the Russell Top 200 Index. It was launched on Sep 22, 2009.
Performance
VTSIX vs. IWL - Performance Comparison
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VTSIX vs. IWL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 3.69% | 5.96% | 8.64% | 15.99% | -16.14% | 27.12% | 11.09% | 23.30% | -8.59% | 13.08% |
IWL iShares Russell Top 200 ETF | -4.96% | 19.09% | 27.12% | 29.77% | -19.89% | 27.79% | 22.10% | 31.42% | -3.30% | 22.90% |
Returns By Period
In the year-to-date period, VTSIX achieves a 3.69% return, which is significantly higher than IWL's -4.96% return. Over the past 10 years, VTSIX has underperformed IWL with an annualized return of 9.87%, while IWL has yielded a comparatively higher 14.87% annualized return.
VTSIX
- 1D
- 2.79%
- 1M
- -4.67%
- YTD
- 3.69%
- 6M
- 5.15%
- 1Y
- 20.34%
- 3Y*
- 10.54%
- 5Y*
- 4.20%
- 10Y*
- 9.87%
IWL
- 1D
- 0.84%
- 1M
- -4.26%
- YTD
- -4.96%
- 6M
- -2.52%
- 1Y
- 18.46%
- 3Y*
- 19.81%
- 5Y*
- 12.42%
- 10Y*
- 14.87%
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VTSIX vs. IWL - Expense Ratio Comparison
VTSIX has a 0.06% expense ratio, which is lower than IWL's 0.15% 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%.
Return for Risk
VTSIX vs. IWL — Risk / Return Rank
VTSIX
IWL
VTSIX vs. IWL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) and iShares Russell Top 200 ETF (IWL). 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.
| VTSIX | IWL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.00 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.42 | 1.53 | -0.11 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.60 | -0.17 |
Martin ratioReturn relative to average drawdown | 5.81 | 6.94 | -1.13 |
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
| VTSIX | IWL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.00 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.73 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.83 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.83 | -0.40 |
Correlation
The correlation between VTSIX and IWL is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VTSIX vs. IWL - Dividend Comparison
VTSIX's dividend yield for the trailing twelve months is around 1.32%, more than IWL's 0.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 1.32% | 1.31% | 1.47% | 1.52% | 1.54% | 1.19% | 1.11% | 1.17% | 1.29% | 1.13% | 1.03% | 1.30% |
IWL iShares Russell Top 200 ETF | 0.95% | 0.90% | 1.04% | 1.30% | 1.54% | 1.12% | 1.30% | 1.96% | 1.93% | 1.69% | 1.96% | 2.14% |
Drawdowns
VTSIX vs. IWL - Drawdown Comparison
The maximum VTSIX drawdown since its inception was -57.81%, which is greater than IWL's maximum drawdown of -32.71%. Use the drawdown chart below to compare losses from any high point for VTSIX and IWL.
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Drawdown Indicators
| VTSIX | IWL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.81% | -32.71% | -25.10% |
Max Drawdown (1Y)Largest decline over 1 year | -14.85% | -11.81% | -3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.92% | -25.65% | -2.27% |
Max Drawdown (10Y)Largest decline over 10 years | -43.86% | -32.71% | -11.15% |
Current DrawdownCurrent decline from peak | -5.68% | -6.46% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -3.92% | -5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 2.72% | +0.94% |
Volatility
VTSIX vs. IWL - Volatility Comparison
Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) has a higher volatility of 6.25% compared to iShares Russell Top 200 ETF (IWL) at 5.43%. This indicates that VTSIX's price experiences larger fluctuations and is considered to be riskier than IWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTSIX | IWL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 5.43% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 13.03% | 9.72% | +3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.70% | 18.49% | +4.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 17.17% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.11% | 18.06% | +5.05% |