VTMSX Performance — Vanguard Tax-Managed Small-Cap Fund, Admiral Shares
Data updated: 2026-08-28
VTMSX returned +24.18% year to date and +37.64% over one year to Jun 2026. Annualised returns are +16.06% over 3 years and +7.40% over 5 years. The fund beat its US Small Blend category average: $100 invested three years ago grew to $156, against $156 for the category, and to $138 over one year, against $133. Volatility over the past three years was 19.44% a year. In the 12 months to Jun 2026 the fund lost a net $308.4M, and assets reached $11.48B.
VTMSX Growth of $100
What $100 invested in Vanguard Tax-Managed Small-Cap Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | VTMSX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $138 | $133 |
| 3 years (Jul 2023 – Jun 2026) | $156 | $156 |
| 5 years (Jul 2021 – Jun 2026) | $143 | $141 |
| Since data start (Jul 2019 – Jun 2026) | $212 | $209 |
VTMSX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +24.18% |
| 1 year | +37.64% |
| 3 years (annualised) | +16.06% |
| 5 years (annualised) | +7.40% |
VTMSX Annual Returns
Calendar-year total returns of Vanguard Tax-Managed Small-Cap Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +24.18% |
| 2025 | +5.93% |
| 2024 | +8.61% |
| 2023 | +15.95% |
| 2022 | −16.14% |
| 2021 | +27.08% |
| 2020 | +11.05% |
| 2019 (Jul–Dec) | +8.19% |
VTMSX 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 | +5.6% | +2.4% | −4.1% | +10.4% | +1.1% | +7.3% | — | — | — | — | — | — |
| 2025 | +2.9% | −5.7% | −6.2% | −4.2% | +5.2% | +4.1% | +0.9% | +7.0% | +0.9% | −0.9% | +2.7% | −0.1% |
| 2024 | −3.9% | +3.4% | +3.2% | −5.6% | +5.0% | −2.3% | +10.8% | −1.5% | +0.8% | −2.6% | +11.0% | −8.0% |
| 2023 | +9.5% | −1.3% | −5.2% | −2.8% | −1.7% | +8.2% | +5.5% | −4.1% | −6.0% | −5.7% | +8.2% | +12.7% |
| 2022 | −7.2% | +1.5% | +0.4% | −7.8% | +1.9% | −8.5% | +10.0% | −4.5% | −9.9% | +12.3% | +4.1% | −6.7% |
| 2021 | +6.4% | +7.6% | +3.3% | +2.1% | +2.1% | +0.3% | −2.4% | +2.0% | −2.4% | +3.5% | −2.2% | +4.6% |
| 2020 | −4.1% | −9.7% | −21.8% | +12.3% | +4.4% | +3.4% | +4.3% | +4.0% | −4.7% | +2.5% | +17.9% | +8.2% |
| 2019 | — | — | — | — | — | — | +1.4% | −4.4% | +3.2% | +1.9% | +3.0% | +3.0% |
VTMSX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 19.44%
- 3-year Sharpe ratio: 0.59 (vs 4.5% risk-free rate)
- Best month: +12.73% (Dec 2023)
- Worst month: −8.01% (Dec 2024)
VTMSX Fund Flows
Monthly money in and out of Vanguard Tax-Managed Small-Cap Fund, from SEC Form N-PORT.
- 12-month net flow: −$308.4M
- 12-month gross sales (incl. reinvestments): $2.3B
- Sales ÷ redemptions: 0.88×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $319.9M | $321.2M | −$1.3M |
| May 2026 | $62.5M | $81.4M | −$18.9M |
| Apr 2026 | $61.5M | $84.2M | −$22.7M |
| Mar 2026 | $481.0M | $504.8M | −$23.8M |
| Feb 2026 | $98.7M | $192.1M | −$93.4M |
| Jan 2026 | $193.1M | $149.0M | $44.1M |
| Dec 2025 | $395.2M | $421.8M | −$26.6M |
| Nov 2025 | $301.2M | $350.8M | −$49.5M |
| Oct 2025 | $148.6M | $161.1M | −$12.5M |
| Sep 2025 | $199.7M | $220.2M | −$20.5M |
| Aug 2025 | $22.0M | $54.4M | −$32.4M |
| Jul 2025 | $20.0M | $70.8M | −$50.8M |
VTMSX Assets Under Management
Net assets of Vanguard Tax-Managed Small-Cap Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $11.48B |
| 2026-03-31 | $9.65B |
| 2025-12-31 | $9.42B |
| 2025-09-30 | $9.39B |
| 2025-06-30 | $8.73B |
| 2025-03-31 | $8.55B |
| 2024-12-31 | $9.49B |
| 2024-09-30 | $9.64B |
| 2024-06-30 | $8.78B |
| 2024-03-31 | $9.12B |
| 2023-12-31 | $8.98B |
| 2023-09-30 | $7.86B |
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.