VTMFX: Vanguard Tax-Managed Balanced Adm

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VTMFX Vanguard Tax-Managed Balanced Adm


Profile

VTMFX - Profile

Vitals

  • YTD Return -1.8%
  • 3 Yr Annualized Return 4.5%
  • 5 Yr Annualized Return 4.3%
  • Net Assets $5.44 B
  • Holdings in Top 10 12.3%

52 WEEK LOW AND HIGH

$33.63
$27.69
$35.44

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $10,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Allocation--30% to 50% Equity

Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 4.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.16%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Vanguard Tax Managed Balanced Fund
  • Fund Family Name
    Vanguard
  • Inception Date
    Sep 06, 1994
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • 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.


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Categories

Fund Company Quick Screens

VTMFX - Fund Company Quick Screens


Performance

VTMFX - Performance

Return Ranking - Trailing

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -46.0% 29.3% 29.73%
1 Yr 6.1% -59.8% 35.1% 11.91%
3 Yr 4.5%* -39.3% 14.2% 4.49%
5 Yr 4.3%* -36.0% 9.2% 2.28%
10 Yr 6.1%* -37.4% 11.9% 8.95%

* Annualized

Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2019 15.5% -50.4% 46.8% 20.09%
2018 -3.5% -31.8% 11.7% 4.75%
2017 10.3% -44.7% 46.3% 13.02%
2016 3.7% -29.9% 420.6% 50.57%
2015 0.3% -40.7% 14.6% 2.62%

Total Return Ranking - Trailing

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -46.0% 29.3% 29.73%
1 Yr 6.1% -59.8% 35.1% 11.91%
3 Yr 4.5%* -39.3% 14.2% 9.79%
5 Yr 4.3%* -36.0% 9.2% 14.48%
10 Yr 6.1%* -37.4% 12.3% 42.73%

* Annualized

Total Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2019 15.5% -50.4% 46.8% 20.84%
2018 -3.5% -27.6% 11.7% 14.59%
2017 10.3% -44.7% 46.3% 44.97%
2016 3.7% -29.9% 420.6% 77.76%
2015 0.3% -36.9% 14.6% 13.95%

NAV & Total Return History


Holdings

VTMFX - Holdings

Concentration Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Assets 5.44 B 100 K 153 B 9.84%
Number of Holdings 2841 2 13456 0.42%
Net Assets in Top 10 667 M -35.2 M 27.1 B 24.84%
Weighting of Top 10 12.32% 5.5% 100.0% 97.71%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High VTMFX % Rank
Bonds
50.51% -7.02% 80.79% 31.70%
Stocks
48.95% -113.74% 77.36% 43.87%
Cash
0.54% -120.83% 149.68% 88.25%
Preferred Stocks
0.00% 0.00% 36.61% 95.22%
Other
0.00% -4.42% 167.50% 91.68%
Convertible Bonds
0.00% -0.67% 52.57% 95.22%

Stock Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Technology
22.26% 0.00% 100.00% 15.62%
Healthcare
15.37% 0.00% 54.35% 39.38%
Financial Services
13.27% 0.00% 62.98% 70.19%
Consumer Cyclical
11.12% 0.00% 33.58% 22.22%
Communication Services
10.72% 0.00% 26.69% 13.42%
Industrials
8.35% 0.00% 99.44% 67.22%
Consumer Defense
7.18% 0.00% 18.41% 57.54%
Real Estate
3.49% 0.00% 99.96% 54.13%
Utilities
3.32% 0.00% 100.00% 55.23%
Energy
2.62% 0.00% 100.00% 71.29%
Basic Materials
2.32% 0.00% 19.70% 66.34%

Stock Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US
48.41% -112.30% 75.95% 33.37%
Non US
0.54% -3.33% 31.77% 85.76%

Bond Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Municipal
98.90% 0.00% 99.50% 0.62%
Cash & Equivalents
1.05% -3.87% 100.00% 96.15%
Government
0.04% 0.00% 90.31% 89.60%
Derivative
0.00% 0.00% 69.90% 92.10%
Securitized
0.00% 0.00% 85.82% 95.74%
Corporate
0.00% 0.00% 100.00% 98.96%

Bond Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US
50.26% -8.49% 88.92% 26.09%
Non US
0.25% -14.78% 29.41% 85.34%

Expenses

VTMFX - Expenses

Operational Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.01% 7.41% 98.72%
Management Fee 0.08% 0.00% 2.00% 14.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.83% 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% 5.50% N/A

Trading Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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 12.00% 0.00% 574.00% 15.76%

Distributions

VTMFX - Distributions

Dividend Yield Analysis

VTMFX Category Low Category High VTMFX % Rank
Dividend Yield 0.00% 0.00% 10.48% 89.40%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Income Ratio 2.16% -5.24% 6.65% 34.00%

Capital Gain Distribution Analysis

VTMFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

VTMFX - Fund Manager Analysis

Managers

James D'Arcy


Start Date

Tenure

Tenure Rank

Jun 28, 2013

6.84

6.8%

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

4.06

4.1%

William Coleman, Portfolio Manager. He has worked in investment management since joining Vanguard in 2006. Education: B.S., King’s College; M.S., Saint Joseph’s University.

Donald Butler


Start Date

Tenure

Tenure Rank

Apr 08, 2016

4.06

4.1%

Donald M. Butler, CFA, Principal of Vanguard. He has been with Vanguard since 1992; has managed investment portfolios since 1997. Education: B.S.B.A., Shippensburg University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.35 6.95 0.33