VTMFX Performance — Vanguard Tax-Managed Balanced Fund, Admiral Shares
Data updated: 2026-08-28
VTMFX returned +5.70% year to date and +13.72% over one year to Jun 2026. Annualised returns are +11.81% over 3 years and +6.96% over 5 years. The fund trailed its Moderate Allocation category average: $100 invested three years ago grew to $140, against $141 for the category, and to $114 over one year, against $115. Volatility over the past three years was 8.26% a year. In the 12 months to Jun 2026 the fund took in a net $417.9M, and assets reached $12.25B.
VTMFX Growth of $100
What $100 invested in Vanguard Tax-Managed Balanced Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Moderate Allocation category average over the same months.
| Period | VTMFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $114 | $115 |
| 3 years (Jul 2023 – Jun 2026) | $140 | $141 |
| 5 years (Jul 2021 – Jun 2026) | $140 | $133 |
| Since data start (Jul 2019 – Jun 2026) | $181 | $169 |
VTMFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +5.70% |
| 1 year | +13.72% |
| 3 years (annualised) | +11.81% |
| 5 years (annualised) | +6.96% |
VTMFX Annual Returns
Calendar-year total returns of Vanguard Tax-Managed Balanced Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +5.70% |
| 2025 | +11.28% |
| 2024 | +12.17% |
| 2023 | +15.53% |
| 2022 | −12.66% |
| 2021 | +13.10% |
| 2020 | +13.30% |
| 2019 (Jul–Dec) | +6.01% |
VTMFX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.1% | +0.4% | −3.6% | +5.2% | +2.6% | 0.0% | — | — | — | — | — | — |
| 2025 | +1.8% | −0.4% | −3.6% | −0.3% | +3.1% | +2.9% | +1.1% | +1.4% | +2.8% | +1.7% | +0.3% | 0.0% |
| 2024 | +0.6% | +2.7% | +1.6% | −2.6% | +2.2% | +2.4% | +1.1% | +1.6% | +1.5% | −1.1% | +3.8% | −1.9% |
| 2023 | +4.5% | −2.2% | +2.5% | +0.6% | −0.2% | +3.7% | +1.8% | −1.2% | −3.5% | −1.6% | +7.1% | +3.5% |
| 2022 | −4.0% | −1.5% | +0.3% | −5.5% | +0.7% | −4.7% | +5.7% | −2.8% | −6.0% | +3.5% | +4.7% | −2.7% |
| 2021 | −0.2% | +0.7% | +2.1% | +3.1% | +0.4% | +1.3% | +1.4% | +1.3% | −2.6% | +3.2% | −0.2% | +2.0% |
| 2020 | +0.9% | −3.3% | −8.0% | +5.6% | +4.2% | +1.4% | +3.7% | +3.5% | −1.8% | −1.2% | +6.1% | +2.4% |
| 2019 | — | — | — | — | — | — | +1.2% | −0.2% | +0.4% | +1.1% | +1.9% | +1.6% |
VTMFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 8.26%
- 3-year Sharpe ratio: 0.89 (vs 4.5% risk-free rate)
- Best month: +7.10% (Nov 2023)
- Worst month: −3.65% (Mar 2026)
VTMFX Fund Flows
Monthly money in and out of Vanguard Tax-Managed Balanced Fund, from SEC Form N-PORT.
- 12-month net flow: $417.9M
- 12-month gross sales (incl. reinvestments): $2.2B
- Sales ÷ redemptions: 1.23×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $133.3M | $75.8M | $57.5M |
| May 2026 | $69.6M | $61.6M | $8.1M |
| Apr 2026 | $82.6M | $66.3M | $16.2M |
| Mar 2026 | $609.5M | $533.8M | $75.7M |
| Feb 2026 | $89.0M | $75.2M | $13.7M |
| Jan 2026 | $117.0M | $69.9M | $47.1M |
| Dec 2025 | $664.2M | $600.4M | $63.9M |
| Nov 2025 | $64.5M | $73.1M | −$8.7M |
| Oct 2025 | $70.7M | $59.8M | $10.9M |
| Sep 2025 | $124.9M | $58.3M | $66.6M |
| Aug 2025 | $66.2M | $57.1M | $9.1M |
| Jul 2025 | $125.8M | $68.0M | $57.8M |
VTMFX Assets Under Management
Net assets of Vanguard Tax-Managed Balanced Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $12.25B |
| 2026-03-31 | $11.33B |
| 2025-12-31 | $11.52B |
| 2025-09-30 | $11.28B |
| 2025-06-30 | $10.63B |
| 2025-03-31 | $10.14B |
| 2024-12-31 | $10.35B |
| 2024-09-30 | $10.21B |
| 2024-06-30 | $9.78B |
| 2024-03-31 | $9.57B |
| 2023-12-31 | $9.02B |
| 2023-09-30 | $8.27B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.