VWSUX vs. VTCLX
VWSUX (Vanguard Ultra-Short-Term Tax-Exempt Fund Admiral Shares) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - VWSUX is a Municipal Bonds fund actively managed by Vanguard, while VTCLX is a Large Cap Blend Equities fund tracking the Russell 1000 Index. VWSUX is actively managed, while VTCLX is passively managed. Over the past 10 years, VWSUX returned 1.97%/yr vs 15.24%/yr for VTCLX. Their -0.03 correlation means they have often moved in opposite directions in the past. VWSUX charges 0.09%/yr vs 0.05%/yr for VTCLX.
Performance
VWSUX vs. VTCLX - Performance Comparison
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Returns By Period
In the year-to-date period, VWSUX achieves a 1.21% return, which is significantly lower than VTCLX's 13.61% return. Over the past 10 years, VWSUX has underperformed VTCLX with an annualized return of 1.97%, while VTCLX has yielded a comparatively higher 15.24% annualized return.
VWSUX
- 1D
- 0.06%
- 1M
- -0.25%
- 6M
- 0.65%
- YTD
- 1.21%
- 1Y
- 2.63%
- 3Y*
- 4.03%
- 5Y*
- 2.52%
- 10Y*
- 1.97%
- ALL TIME*
- 1.91%
VTCLX
- 1D
- 1.81%
- 1M
- 2.40%
- 6M
- 12.88%
- YTD
- 13.61%
- 1Y
- 23.93%
- 3Y*
- 21.06%
- 5Y*
- 12.63%
- 10Y*
- 15.24%
- ALL TIME*
- 10.25%
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 |
VWSUX vs. VTCLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWSUX Vanguard Ultra-Short-Term Tax-Exempt Fund Admiral Shares | 1.21% | 4.90% | 3.77% | 3.70% | -0.73% | 0.19% | 1.91% | 2.59% | 1.67% | 1.10% |
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 13.61% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 22.40% |
Correlation
The correlation between VWSUX and VTCLX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | -0.03 |
The correlation between VWSUX and VTCLX shifts across timeframes, from -0.03 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VWSUX vs. VTCLX — Risk / Return Rank
VWSUX
VTCLX
VWSUX vs. VTCLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) and Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.
| VWSUX | VTCLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +3.03 | ||
| Omega ratioGain probability vs. loss probability | 1.94 | 1.32 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | 2.66 | +1.26 |
| Martin ratioReturn relative to average drawdown | 16.13 | 11.57 | +4.56 |
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Drawdowns
VWSUX vs. VTCLX - Drawdown Comparison
The maximum VWSUX drawdown since its inception was -3.08%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for VWSUX and VTCLX.
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Drawdown Indicators
| VWSUX | VTCLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.08% | -55.18% | +52.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -8.79% | +8.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.01% | -19.01% | +18.00% |
Max Drawdown (5Y)Largest decline over 5 years | -2.17% | -24.98% | +22.81% |
Max Drawdown (10Y)Largest decline over 10 years | -3.08% | -34.56% | +31.48% |
Current DrawdownCurrent decline from peak | -0.25% | 0.00% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -0.15% | -7.52% | +7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 2.02% | -1.85% |
Volatility
VWSUX vs. VTCLX - Volatility Comparison
The current volatility for Vanguard Ultra-Short-Term Tax-Exempt Fund Admiral Shares (VWSUX) is 0.22%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 4.11%. This indicates that VWSUX experiences smaller price fluctuations and is considered to be less risky than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWSUX | VTCLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 4.11% | -3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 10.38% | -9.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.09% | 13.05% | -11.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.24% | 17.36% | -16.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.13% | 18.29% | -17.16% |
VWSUX vs. VTCLX - Expense Ratio Comparison
VWSUX has a 0.09% expense ratio, which is higher than VTCLX'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
VWSUX vs. VTCLX - Dividend Comparison
VWSUX's dividend yield for the trailing twelve months is around 2.86%, more than VTCLX's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 0.88% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
VWSUX Vanguard Ultra-Short-Term Tax-Exempt Fund Admiral Shares | 2.86% | 4.00% | 3.82% | 2.27% | 1.24% | 0.63% | 1.26% | 1.79% | 1.53% | 1.16% | 0.97% | 0.78% |
Frequently Asked Questions
VWSUX and VTCLX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTCLX has higher volatility (4.11%) compared to VWSUX (0.22%). In terms of maximum drawdown, VWSUX dropped -3.08% vs VTCLX's -55.18%.
VWSUX currently has the higher Sharpe Ratio (2.48 vs 1.81), 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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