Morningstar

Vanguard Tax-Managed Balanced Fund Admiral Shares VTMFX

Morningstar Medalist Rating
Unlock
Medalist Rating as of See Vanguard Investment Hub
  • NAV / 1-Day Return$51.06  /  −0.31%
  • Fund Size$12.2B
  • Adjusted Expense Ratio0.050%
  • Net Expense Ratio0.090%
  • Fee Level: DistributionLow
  • Share Class TypeInstitutional
  • Morningstar CategoryModerately Conservative Allocation
  • Equity Style Box (Funds)Large Blend
  • Fixed-Income Style Box (Funds)Medium/Moderate
  • Investment StatusOpen
  • TTM Yield2.84%
  • Turnover Ratio15%
NAV and 1-Day Return as of

Morningstar’s Analysis VTMFX

Will VTMFX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VTMFX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the VTMFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of VTMFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A compelling option for tax-conscious investors.

Associate Analyst Mary Marshall

Mary Marshall

Associate Analyst

Summary

Vanguard Tax-Managed Balanced is led by an experienced team that leverages the firm’s research groups to construct a balanced tax-aware product.

by Mary Marshall
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings VTMFX

More VTMFX Holdings
  • Current Portfolio Date
  • Equity Holdings—
  • Bond Holdings—
  • Other Holdings—
  • % Assets in Top 10 Holdings17.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

NVIDIA Corp

3.67442M
Technology

Apple Inc

3.32400M
Technology

Microsoft Corp

2.62316M
Technology

Amazon.com Inc

1.67201M
Consumer Cyclical

Alphabet Inc Class A

1.37165M
Communication Services

Broadcom Inc

1.13135M
Technology

Alphabet Inc Class C

1.12134M
Communication Services

Meta Platforms Inc Class A

1.10132M
Communication Services

Micron Technology Inc

0.8299M
Technology

Tesla Inc

0.7287M
Consumer Cyclical

Sponsor Center

Site Index
United States Flag United States

© Copyright 2026 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.