VTSIX vs. LIVIX
VTSIX (Vanguard Tax-Managed Small-Cap Fund Institutional Shares) and LIVIX (BlackRock LifePath Index 2055 Fund) are both mutual funds - VTSIX is a Small Cap Blend Equities fund managed by BlackRock, while LIVIX is a Target Retirement Date fund managed by BlackRock. Over the past 10 years, VTSIX returned 10.82%/yr vs 12.04%/yr for LIVIX. Their correlation of 0.83 suggests significant overlap in exposure. VTSIX charges 0.06%/yr vs 0.10%/yr for LIVIX.
Performance
VTSIX vs. LIVIX - Performance Comparison
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Returns By Period
In the year-to-date period, VTSIX achieves a 16.66% return, which is significantly higher than LIVIX's 13.10% return. Over the past 10 years, VTSIX has underperformed LIVIX with an annualized return of 10.82%, while LIVIX has yielded a comparatively higher 12.04% annualized return.
VTSIX
- 1D
- 0.92%
- 1M
- 2.71%
- YTD
- 16.66%
- 6M
- 15.44%
- 1Y
- 32.97%
- 3Y*
- 14.85%
- 5Y*
- 6.01%
- 10Y*
- 10.82%
LIVIX
- 1D
- 0.47%
- 1M
- 5.62%
- YTD
- 13.10%
- 6M
- 13.99%
- 1Y
- 29.98%
- 3Y*
- 19.96%
- 5Y*
- 10.51%
- 10Y*
- 12.04%
VTSIX vs. LIVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 16.66% | 5.96% | 8.64% | 15.99% | -16.14% | 27.12% | 11.09% | 23.30% | -8.59% | 13.08% |
LIVIX BlackRock LifePath Index 2055 Fund | 13.10% | 21.57% | 13.60% | 21.62% | -18.38% | 18.75% | 14.99% | 26.76% | -7.83% | 21.38% |
Correlation
The correlation between VTSIX and LIVIX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2011 | 0.83 |
The correlation between VTSIX and LIVIX has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
VTSIX vs. LIVIX — Risk / Return Rank
VTSIX
LIVIX
VTSIX vs. LIVIX - 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 BlackRock LifePath Index 2055 Fund (LIVIX). 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 | LIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.44 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | 3.22 | +0.88 |
| Martin ratioReturn relative to average drawdown | 13.63 | 14.29 | -0.66 |
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 | LIVIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 2.43 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.67 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.72 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.64 | -0.20 |
Drawdowns
VTSIX vs. LIVIX - Drawdown Comparison
The maximum VTSIX drawdown since its inception was -57.81%, which is greater than LIVIX's maximum drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for VTSIX and LIVIX.
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Drawdown Indicators
| VTSIX | LIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.81% | -34.44% | -23.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -9.44% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -27.92% | -17.39% | -10.53% |
Max Drawdown (5Y)Largest decline over 5 years | -27.92% | -26.45% | -1.47% |
Max Drawdown (10Y)Largest decline over 10 years | -43.86% | -34.44% | -9.42% |
Current DrawdownCurrent decline from peak | -0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.93% | -4.52% | -4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.13% | +0.45% |
Volatility
VTSIX vs. LIVIX - Volatility Comparison
Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) has a higher volatility of 4.51% compared to BlackRock LifePath Index 2055 Fund (LIVIX) at 3.86%. This indicates that VTSIX's price experiences larger fluctuations and is considered to be riskier than LIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTSIX | LIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 3.86% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 10.06% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.54% | 12.54% | +5.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.46% | 15.84% | +5.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.11% | 16.72% | +6.39% |
VTSIX vs. LIVIX - Expense Ratio Comparison
VTSIX has a 0.06% expense ratio, which is lower than LIVIX's 0.10% 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%.
Dividends
VTSIX vs. LIVIX - Dividend Comparison
VTSIX's dividend yield for the trailing twelve months is around 1.17%, less than LIVIX's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LIVIX BlackRock LifePath Index 2055 Fund | 2.19% | 2.48% | 0.01% | 2.04% | 1.96% | 2.04% | 1.56% | 2.95% | 2.35% | 2.27% | 1.54% | 2.88% |
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 1.17% | 1.31% | 1.47% | 1.52% | 1.54% | 1.19% | 1.11% | 1.17% | 1.29% | 1.13% | 1.03% | 1.30% |
Frequently Asked Questions
VTSIX and LIVIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTSIX has higher volatility (4.51%) compared to LIVIX (3.86%). In terms of maximum drawdown, VTSIX dropped -57.81% vs LIVIX's -34.44%.
LIVIX currently has the higher Sharpe Ratio (2.43 vs 2.01), 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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