VTCIX vs VWIUX
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares vs Vanguard Intermediate Term Tax-Exempt Fund admiral class
Which is better, VTCIX or VWIUX?
Large Cap Blend against Municipal Bond.
VTCIX 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 | VTCIX | VWIUX |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $5.2B | $86.4B |
| Dividend Yield | 0.90% | 3.15% |
| Holdings | 836 | 16,181 |
| YTD Price Return | +11.60% | -3.70% |
| 1Y Price Return | +15.87% | -2.99% |
| 3Y Price Return (annualized) | +19.44% | +0.05% |
| 5Y Price Return (annualized) | +11.04% | -2.16% |
| Volatility (annualized) | 15.9% | 5.4%Best |
| Max Drawdown | -26.0% | -15.9%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal Bond |
| Inception | Feb 24, 1999 | Feb 12, 2001 |
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. VTCIX currently yields 0.90% and VWIUX 3.15%.
Volatility and max drawdown are measured over the window both funds cover: Sep 14, 2021 to Sep 11, 2026 (5 years).
VTCIX vs VWIUX Performance
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US) and Vanguard Intermediate Term Tax-Exempt Fund admiral class (VWIUX) is a mutual fund from Vanguard (US). Over the past year VTCIX's price moved +15.87% and VWIUX's -2.99%, before the income each one paid out.
Over three years, VTCIX compounded at +19.44% per year against +0.05% for VWIUX; over five years the annualized figures are +11.04% and -2.16% 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 5.4% for VWIUX. 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 -26.0% for VTCIX and -15.9% for VWIUX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
VTCIX charges 0.03% per year while VWIUX charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, VTCIX currently yields 0.90% against 3.15% for VWIUX.
Holdings Overlap
We hold position weights for 884 holdings in VTCIX and 1,763 in VWIUX, totalling 99.4% and 20.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 150 days apart, VTCIX as of Jun 30, 2026 and VWIUX as of Jan 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 884 positions we hold weights for in VTCIX and 1,763 in VWIUX, against full books of 836 and 16,181.
You are not choosing between two funds in isolation.
Whichever of VTCIX and VWIUX 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, VTCIX or VWIUX?
VTCIX has an expense ratio of 0.03% while VWIUX charges 0.09%. VTCIX is the cheaper option, by $6 a year on a $10,000 investment.
Which is riskier, VTCIX or VWIUX?
VTCIX has been the more volatile fund at 15.9% annualized versus 5.4% for VWIUX. Worst drawdown: VTCIX -26.0% vs VWIUX -15.9%.
Should I hold both VTCIX and VWIUX?
VTCIX and VWIUX have a monthly-return correlation of 0.68, 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, VTCIX or VWIUX?
VTCIX yields 0.90% while VWIUX yields 3.15%, so VWIUX currently pays the higher dividend yield.
Is VWIUX better than VTCIX?
VTCIX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.