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Name

As of 01/13/2025

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Tax-Managed Balanced Fund

VTMFX | Fund

$44.96

$10.1 B

2.16%

$0.97

0.09%

Vitals

YTD Return

-0.6%

1 yr return

11.4%

3 Yr Avg Return

4.6%

5 Yr Avg Return

7.3%

Net Assets

$10.1 B

Holdings in Top 10

15.6%

52 WEEK LOW AND HIGH

$45.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 01/13/2025

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vanguard Tax-Managed Balanced Fund

VTMFX | Fund

$44.96

$10.1 B

2.16%

$0.97

0.09%

VTMFX - Profile

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 7.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.53%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Vanguard Tax-Managed Balanced Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    May 05, 1995
  • Shares Outstanding
    N/A
  • Share Class
    Admiral
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James D'Arcy

Fund Description

The Fund invests approximately 50% to 55% of its assets in municipal securities and the balance in common stocks. The fixed income portion of the Fund is concentrated in high-quality municipal securities with a dollar-weighted average maturity expected to be between 6 and 12 years. At least 75% of the municipal bonds purchased by the Fund will be rated in one of the top three credit-rating categories as determined by an independent bond-rating agency (e.g., Aaa, Aa, and A by Moody’s Investors Service, Inc. (Moody’s) or AAA, AA, and A by Standard & Poor’s Financial Services LLC (S&P Global Ratings)) or, if unrated, determined to be of comparable quality by the advisor.The Fund’s stock holdings are chosen from the stocks that pay lower dividends within the Russell 1000 Index (the Index)—an index that is made up of stocks of large- and mid-capitalization U.S. companies. The Fund uses statistical methods to “sample” the Index, aiming to minimize taxable dividends while approximating the other characteristics of the Index. The intended result is a portfolio that will loosely track the total return performance of the Index, but with lower taxable income distributions.
Read More

VTMFX - Performance

Return Ranking - Trailing

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -2.1% 6.4% 26.43%
1 Yr 11.4% 0.2% 15.7% 2.00%
3 Yr 4.6%* -8.5% 4.4% 0.25%
5 Yr 7.3%* -6.3% 7.4% 0.28%
10 Yr 7.4%* -0.7% 7.4% 0.36%

* Annualized

Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2024 9.8% -4.7% 11.5% 2.23%
2023 13.2% -1.0% 27.4% 2.48%
2022 -14.3% -35.0% -7.4% 26.38%
2021 11.5% -11.5% 14.6% 2.06%
2020 11.1% -10.3% 40.7% 1.09%

Total Return Ranking - Trailing

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -2.1% 6.4% 26.43%
1 Yr 11.4% 0.2% 15.7% 2.00%
3 Yr 4.6%* -8.5% 4.4% 0.25%
5 Yr 7.3%* -6.3% 7.4% 0.28%
10 Yr 7.4%* -0.7% 7.4% 0.36%

* Annualized

Total Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2024 12.2% -4.7% 16.2% 3.96%
2023 15.6% 2.6% 28.2% 2.73%
2022 -12.7% -35.0% -3.1% 42.96%
2021 13.1% -11.5% 32.0% 6.19%
2020 13.3% -5.4% 40.7% 6.28%

NAV & Total Return History

VTMFX - Holdings

Concentration Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Assets 10.1 B 305 K 50.8 B 4.21%
Number of Holdings 3878 2 3878 0.25%
Net Assets in Top 10 1.59 B 309 K 10.3 B 16.09%
Weighting of Top 10 15.56% 8.4% 105.2% 88.37%

Top 10 Holdings

  1. APPLE INC 3.18%
  2. MICROSOFT CORP 2.99%
  3. NVIDIA CORP 2.70%
  4. AMAZON.COM INC 1.59%
  5. META PLATFORMS-A 1.21%
  6. ALPHABET INC-A 0.90%
  7. ALPHABET INC-C 0.83%
  8. BERKSHIRE HATH-B 0.81%
  9. ELI LILLY CO 0.73%
  10. BROADCOM INC 0.62%

Asset Allocation

Weighting Return Low Return High VTMFX % Rank
Bonds 		52.37% 0.00% 79.72% 15.35%
Stocks 		47.64% 0.00% 100.11% 69.55%
Other 		0.03% -0.88% 61.47% 29.95%
Preferred Stocks 		0.00% 0.00% 21.95% 95.79%
Convertible Bonds 		0.00% 0.00% 71.77% 99.25%
Cash 		0.00% -35.68% 23.34% 99.75%

Stock Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Technology 		24.30% 0.22% 27.92% 5.54%
Healthcare 		14.11% 0.00% 24.25% 26.20%
Financial Services 		13.72% 0.00% 83.50% 76.83%
Consumer Cyclical 		10.81% 0.00% 14.20% 36.78%
Industrials 		8.63% 0.14% 17.90% 82.62%
Communication Services 		8.59% 0.00% 11.11% 15.11%
Consumer Defense 		6.79% 0.00% 18.62% 59.19%
Energy 		4.66% 0.00% 62.93% 57.93%
Real Estate 		3.20% 0.00% 43.16% 77.08%
Utilities 		3.05% 0.00% 48.33% 59.45%
Basic Materials 		2.13% 0.00% 32.82% 95.47%

Stock Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US 		47.64% 0.00% 100.11% 66.83%
Non US 		0.00% 0.00% 21.55% 95.30%

Bond Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Municipal 		97.24% 0.00% 99.85% 2.25%
Derivative 		0.03% -0.89% 60.97% 9.90%
Cash & Equivalents 		0.00% 0.00% 23.34% 99.01%
Securitized 		0.00% 0.00% 52.08% 98.75%
Corporate 		0.00% 0.00% 96.66% 99.25%
Government 		0.00% 0.00% 63.33% 99.25%

Bond Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US 		52.37% 0.00% 79.72% 9.90%
Non US 		0.00% 0.00% 9.33% 95.30%

VTMFX - Expenses

Operational Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.06% 21.26% 99.75%
Management Fee 0.08% 0.00% 1.25% 33.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 2.00% 380.00% 6.78%

VTMFX - Distributions

Dividend Yield Analysis

VTMFX Category Low Category High VTMFX % Rank
Dividend Yield 2.16% 0.00% 7.99% 88.12%

Dividend Distribution Analysis

VTMFX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Quarterly

Net Income Ratio Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Income Ratio 1.53% -1.22% 6.83% 59.30%

Capital Gain Distribution Analysis

VTMFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

VTMFX - Fund Manager Analysis

Managers

James D'Arcy

Start Date

Tenure

Tenure Rank

Jun 28, 2013

8.93

8.9%

James M. D’Arcy, CFA, Portfolio Manager at Vanguard. He has worked in investment management since 1996, has managed investment portfolios since 1999, has been with Vanguard since 2011. Prior to this, James D'Arcy is a director and senior portfolio manager for Columbia Management focusing on tax-exempt and crossover short duration accounts. In addition, he manages two short-term funds and various short-term separate accounts and is responsible for developing tax-exempt strategies for Columbia Management’s tax-exempt liquidity strategies group. Mr. D'Arcy joined Columbia Management in 1999 and has been a member of the investment community since 1996. Prior to joining Columbia Management, Mr. D'Arcy worked on the fixed-income trading desk at Wells Capital Management. Mr. D'Arcy received his B.A. in economics from the University of Colorado at Boulder. He holds the Chartered Financial Analyst designation. In addition, he is a member of the CFA North Carolina Society and the National Federation of Municipal Analysts.

William Coleman

Start Date

Tenure

Tenure Rank

Apr 08, 2016

6.15

6.2%

William A. Coleman, CFA, Portfolio Manager at Vanguard. He has worked in investment management since joining Vanguard in 2006 and has co-managed the Conservative Allocation and Moderate Allocation Portfolios since 2013. Education: B.S., King’s College; M.S., Saint Joseph’s University.

Walter Nejman

Start Date

Tenure

Tenure Rank

Jul 19, 2021

0.87

0.9%

Walter Nejman, Portfolio Manager at Vanguard. He has been with Vanguard since 2005; has worked in investment management since 2008; and has co-managed the Communication Services Index, Health Care Index, Industrials Index, and Information Technology Index Funds since 2015. Education: B.A., Arcadia University; M.B.A., Villanova University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.38 2.41

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