VTMFX: Vanguard Tax-Managed Balanced Adm

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VTMFX Vanguard Tax-Managed Balanced Adm

  • Fund
  • VTMFX
  • Price as of: Dec 06, 2019
  • $33.94
    + $0.14 + 0.41%

Profile

VTMFX - Profile

Vitals

  • YTD Return 14.5%
  • 3 Yr Annualized Return 6.5%
  • 5 Yr Annualized Return 4.8%
  • Net Assets $5.66 B
  • Holdings in Top 10 9.8%

52 WEEK LOW AND HIGH

$33.94
$28.74
$33.97

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.09%

SALES FEES

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

BROKERAGE FEES

  • Turnover 11.00%

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 14.5%
  • 3 Yr Annualized Total Return 6.5%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.22%
DIVIDENDS
  • Dividend Yield 1.1%
  • 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 M. D'Arcy

Fund Description

The Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) is a traditional balanced fund that splits its portfolio evenly between stocks and bonds. VTMFX is passively managed to minimize taxes. The equity side of the fund holds broad U.S. stock index funds and the bond side holds tax-free municipal bonds. VTMFX tracks the Russell 1000 Index and the Barclays 1–15 Year Municipal Bond Index.

Expenses for VTMFX are very low. Given its scope and broad holdings, the fund is suitable as a “one-stop-shop” holding for investors in high tax brackets. The fund is internally managed by Vanguard.


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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 14.5% -46.3% 41.1% 38.39%
1 Yr 11.6% -42.6% 32.9% 16.43%
3 Yr 6.5%* -35.7% 15.6% 16.31%
5 Yr 4.8%* -40.1% 13.5% 15.15%
10 Yr 6.1%* -38.9% 17.9% 26.52%

* Annualized

Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.5% -31.8% 19.0% 3.89%
2017 10.3% -44.7% 46.3% 13.02%
2016 3.7% -84.5% 146.1% 48.84%
2015 0.3% -40.7% 14.6% 1.92%
2014 7.6% -35.0% 306.6% 6.82%

Total Return Ranking - Trailing

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.5% -46.3% 41.1% 38.39%
1 Yr 11.6% -42.6% 32.9% 23.35%
3 Yr 6.5%* -35.7% 15.6% 28.13%
5 Yr 4.8%* -40.1% 13.5% 35.05%
10 Yr 6.1%* -38.9% 18.8% 54.45%

* Annualized

Total Return Ranking - Calendar

Period VTMFX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.5% -27.4% 19.0% 14.67%
2017 10.3% -44.7% 46.3% 45.88%
2016 3.7% -84.5% 146.1% 78.04%
2015 0.3% -36.9% 14.6% 13.01%
2014 7.6% -35.0% 306.6% 30.48%

NAV & Total Return History


Holdings

VTMFX - Holdings

Concentration Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Assets 5.66 B 619 K 157 B 9.63%
Number of Holdings 2955 2 13643 1.69%
Net Assets in Top 10 541 M -206 M 29 B 25.63%
Weighting of Top 10 9.83% 8.9% 210.3% 99.37%

Top 10 Holdings

  1. Apple Inc 1.96%
  2. Microsoft Corp 1.88%
  3. Amazon.com Inc 1.27%
  4. Facebook Inc A 0.80%
  5. Berkshire Hathaway Inc B 0.75%
  6. Alphabet Inc A 0.69%
  7. JPMorgan Chase & Co 0.68%
  8. Alphabet Inc Class C 0.66%
  9. Johnson & Johnson 0.57%
  10. Visa Inc Class A 0.56%

Asset Allocation

Weighting Return Low Return High VTMFX % Rank
Bonds
51.58% -4.17% 79.17% 30.80%
Stocks
48.31% -41.01% 77.78% 47.78%
Cash
0.11% -110.26% 61.28% 88.08%
Preferred Stocks
0.00% 0.00% 49.94% 94.20%
Other
0.00% -41.44% 209.72% 86.18%
Convertible Bonds
0.00% 0.00% 75.96% 97.78%

Stock Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Technology
9.38% -6.80% 28.79% 31.85%
Financial Services
7.75% -7.21% 30.29% 45.65%
Healthcare
6.60% -6.04% 20.92% 40.98%
Consumer Cyclical
5.02% -10.60% 25.25% 38.00%
Communication Services
4.86% -2.17% 9.78% 11.04%
Industrials
4.78% -2.39% 24.85% 44.27%
Consumer Defense
3.52% -2.62% 12.35% 47.35%
Real Estate
1.86% -8.18% 51.84% 46.92%
Energy
1.82% -2.02% 68.57% 60.51%
Utilities
1.55% -2.30% 64.34% 46.28%
Basic Materials
1.17% -2.22% 15.06% 59.77%

Stock Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US
47.85% -41.02% 75.95% 36.50%
Non US
0.46% -2.07% 29.45% 88.50%

Bond Sector Breakdown

Weighting Return Low Return High VTMFX % Rank
Municipal
51.58% 0.00% 58.76% 1.37%
Cash & Equivalents
0.11% -110.26% 72.04% 88.71%
Derivative
0.00% -11.79% 2.88% 75.74%
Securitized
0.00% 0.00% 45.59% 98.52%
Corporate
0.00% 0.00% 85.45% 99.89%
Government
0.00% -45.95% 75.63% 97.26%

Bond Geographic Breakdown

Weighting Return Low Return High VTMFX % Rank
US
51.35% -5.44% 87.85% 23.63%
Non US
0.23% -14.01% 19.86% 87.45%

Expenses

VTMFX - Expenses

Operational Fees

VTMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.09% 0.00% 18.45% 98.71%
Management Fee 0.08% 0.00% 2.00% 15.73%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 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 0.75% 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 11.00% 0.00% 1488.00% 11.28%

Distributions

VTMFX - Distributions

Dividend Yield Analysis

VTMFX Category Low Category High VTMFX % Rank
Dividend Yield 1.09% 0.00% 11.03% 31.65%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

VTMFX Category Low Category High VTMFX % Rank
Net Income Ratio 2.22% -4.40% 6.65% 29.22%

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 M. D'Arcy


Start Date

Tenure

Tenure Rank

Jun 28, 2013

6.43

6.4%

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 A. Coleman


Start Date

Tenure

Tenure Rank

Apr 08, 2016

3.65

3.7%

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 M. Butler


Start Date

Tenure

Tenure Rank

Apr 08, 2016

3.65

3.7%

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
0.0 35.94 6.98 7.54