VTMSX – Vanguard Tax-Managed Small Cap Adm Investment Strategy | Morningstar

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Strategy

The investment seeks to provide a tax-efficient return consisting of long-term capital appreciation while tracking the performance of a S&P SmallCap 600 Index that measures the investment return of small-capitalization stocks. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in small-cap stocks. The S&P SmallCap 600® Index is made up of common stocks of small-capitalization U.S. companies.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
VTMSX	Vanguard Tax-Managed Small Cap Fund Admiral Shares	Institutional	Open			Mar 25, 1999	$9.96B	0.050%	Low	$10,000	−$315.61M
VTSIX	Vanguard Tax-Managed Small-Cap Fund Institutional Shares	Institutional	Open			Apr 21, 1999	$1.21B	0.030%	Low	$5M	−$30.65M

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