VIITX vs VTCIX
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class vs Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares
Which is better, VIITX or VTCIX?
Intermediate Term Bond against Large Cap Blend.
VIITX has a lower expense ratio.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VIITX | VTCIX |
|---|---|---|
| Expense Ratio | 0.02%Best | 0.03% |
| AUM | - | $5.2B |
| Dividend Yield | 4.60% | 0.90% |
| Holdings | 2,599 | 836 |
| YTD Price Return | -3.19% | +10.67% |
| 1Y Price Return | -3.50% | +15.96% |
| 3Y Price Return (annualized) | +0.21% | +18.89% |
| 5Y Price Return (annualized) | -2.56% | +10.73% |
| Volatility (annualized) | 4.2%Best | 15.9% |
| Max Drawdown | -15.0%Best | -26.0% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Fixed Income | Equity |
| Style | Intermediate Term Bond | Large Cap Blend |
| Inception | Dec 1, 1997 | Feb 24, 1999 |
Not shown on this pair: $10,000 over 5 years, Top 10 Weight.
A price return is not the return of a fund that pays its income out. The coupon or distribution never appears in the price, so the return rows carry no winner here. VIITX currently yields 4.60% and VTCIX 0.90%.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 10, 2026 (5 years).
VIITX vs VTCIX Performance
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class (VIITX) is a mutual fund from Vanguard (US) and Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US). Over the past year VIITX's price moved -3.50% and VTCIX's +15.96%, before the income each one paid out.
Over three years, VIITX compounded at +0.21% per year against +18.89% for VTCIX; over five years the annualized figures are -2.56% and +10.73% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTCIX has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 4.2% for VIITX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.0% for VIITX and -26.0% for VTCIX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
VIITX charges 0.02% per year while VTCIX charges 0.03%. On a $10,000 position that is $2 vs $3 annually, a gap of $1 per year that compounds over a long holding period. On income, VIITX currently yields 4.60% against 0.90% for VTCIX.
Holdings Overlap
At least 0.3% of VTCIX's money is in holdings VIITX also owns.
Stated as a floor: for VIITX, our book for it covers 52.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 61 days apart, VIITX as of Apr 30, 2026 and VTCIX as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 1,285 positions we hold weights for in VIITX and 884 in VTCIX, against full books of 2,599 and 836.
You are not choosing between two funds in isolation.
Whichever of VIITX and VTCIX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VIITX or VTCIX?
VIITX has an expense ratio of 0.02% while VTCIX charges 0.03%. VIITX is the cheaper option, by $1 a year on a $10,000 investment.
Which is riskier, VIITX or VTCIX?
VTCIX has been the more volatile fund at 15.9% annualized versus 4.2% for VIITX. Worst drawdown: VIITX -15.0% vs VTCIX -26.0%.
Should I hold both VIITX and VTCIX?
VIITX and VTCIX have a monthly-return correlation of 0.58, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, VIITX or VTCIX?
VIITX yields 4.60% while VTCIX yields 0.90%, so VIITX currently pays the higher dividend yield.
Is VTCIX better than VIITX?
VIITX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.