VANGUARD TAX-MANAGED SMALL-CAP FUND
VANGUARD TAX-MANAGED FUNDS · Series S000004387 · 2 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Tax-Managed Small-Cap Fund (the Fund) seeks to provide a tax-efficient return consisting of long-term capital appreciation while tracking the performance of a benchmark index that measures the investment return of small-capitalization stocks.
The fund tracks the S&P SmallCap 600 Index using statistical sampling, holding a range of small-cap stocks that collectively approximate the index's characteristics and performance while emphasizing tax efficiency. Because the fund samples rather than holds all index constituents, its returns may diverge from the index.
| Share class | Expense ratio |
|---|---|
| VTMSX | 0.05% |
| VTSIX | 0.03% |
Portfolio turnover 18.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.47% |
| Cash & short-term | 0.45% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +38.99% | +53.24% | +34.88% | 13.52% | -19.73% | |
| +39.01% | +53.37% | +35.06% | 13.52% | -19.71% |
These classes hold the same portfolio, so the 0.19pp spread over 5 years is the cost difference between them — roughly 0.04pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| FORM | FormFactor IncFORM | 0.70% | $159.93 | $80.31M | 502.2K |
| VSAT | Viasat IncVSAT | 0.66% | $89.81 | $75.37M | 839.2K |
| MOH | Molina Healthcare IncMOH | 0.63% | $228.70 | $72.29M | 316.1K |
| ESI | Element Solutions IncESI | 0.59% | $47.75 | $68.07M | 1.4M |
| AGX | Argan IncAGX | 0.58% | $798.55 | $66.61M | 83.4K |
| MXL | MaxLinear IncMXL | 0.57% | $128.03 | $65.69M | 513.1K |
| BTSG | BrightSpring Health Services IncBTSG | 0.55% | $69.74 | $62.92M | 902.2K |
| KRYS | Krystal Biotech IncKRYS | 0.53% | $371.67 | $61.01M | 164.1K |
| ESE | ESCO Technologies IncESE | 0.50% | $350.04 | $57.33M | 163.8K |
| ALKS | Alkermes PLCALKS | 0.49% | $52.40 | $56.36M | 1.1M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 5.80% of net assets, top 25 12.62%, across 601 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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