Summary
Vanguard Tax-Managed Small-Cap Fund Admiral Shares is a mutual fund run by Vanguard. It does not trade on an exchange: you buy it from the fund company at a price set once a day. Positions inside: 607. The ten largest make up 5.4% of the fund.
- Yearly costs
- 0.05%
- Fund size
- $10.5B
- Positions
- 607
- Dividend yield
- 1.32%
- Running since
- 1999
What speaks for it
- Costs of 0.05% a year are below the middle of comparable funds (0.40%).
- Widely spread: the ten largest positions make up only 5.4% of the fund.
- A large fund with $10.5B under management.
- Average yearly growth over the last ten years: 8.6%.
- It has been running since 1999.
What to watch
- 100% of the fund is in one country (United States).
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- 0.0%
- 3 months
- -7.5%
- This year
- +15%
- 1 year
- +17%
- 3 years
- +53%
- 5 years
- +16%
- 10 years
- +128%
- Avg. market cap
- $7.16B
- P/E
- 14.0x
- Forward P/E
- 15.5x
- P/S
- 0.9x
- P/B
- 0.1x
- P/FCF
- 12.6x
- EV/EBITDA
- 13.6x
- Dividend yield
- 1.15%
- ROIC
- 15.3%
- ROE
- 13.4%
- Gross margin
- 47.3%
- Operating margin
- 15.5%
- Net margin
- 13.1%
- Payout ratio
- 16.0%
- Net debt/EBITDA
- 2.1x
- Beta
- 1.05
Weighted average of the 50 largest companies, which make up 21% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Widely spread- 1 FOFormFactor, Inc. FORM 0.7%
- 2 GKGlaukos GKOS 0.6%
- 3 VSViasat, Inc. VSAT 0.6%
- 4 Qorvo Inc 0.5%
- 5 MTMatch Group MTCH 0.5%
- 6 PTProtagonist Therapeutics PTGX 0.5%
- 7 ESElement Solutions Inc ESI 0.5%
- 8 PAPaycom Software PAYC 0.5%
- 9 EMEastman EMN 0.5%
- 10 RHRyman Hospitality Properties, Inc. RHP 0.5%
Positions in the fund: 607. The ten largest make up 5.4% of it.
Composition as of Nov 6, 2026.
Where is it spread?
One countryBy sector
- Financials 17%
- Technology 15%
- Industrials 15%
- Consumer cyclical 12%
- Healthcare 11%
- Other 30%
By country
- United States 100%
By company size
- Large cap 1.5%
- Mid cap 82%
- Small cap 16%
- Micro cap 0.00%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest sector: Financials (17%). Largest country: United States (100%). Largest size group: Mid cap (82%).
What does it cost me?
Cheap- A year from $10,000
- $5.00
- Over 20 years
- $252
From every $10,000 invested the fund takes $5.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $252.
How has it done?
Growing over the long run- A year on average, 10 years
- +8.6%
- Deepest drop
- -28%
- Yearly volatility
- 16%
Average yearly growth over the last ten years: 8.6%. Deepest drop in these years: 28% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 1.32%
- Payments a year
- 4
- Last payment
- $0.33
Over the last 12 months it paid $1.49 per share, which is 1.32% of today's price. The last payment was $0.33 on Sep 23, 2026.
How expensive are the companies inside?
Rather cheap- P/E of the companies inside
- 14.0
- Average Bulios Score
- 60 out of 100
Weight by Bulios Fair Price
- Undervalued 18%
- Fairly valued 7.8%
- Overvalued 74%
On average the companies inside trade for 14.0 times their yearly profit. By Fair Price, 74% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 21% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Can I buy it as an ETF?
A mutual fund is bought from the fund company. These ETFs hold much of the same and trade on an exchange, so an ordinary broker carries them.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
VI VIOO Vanguard S&P Small-Cap 600 ETF | United States | 0.07% | $5.99B | +17% | Pays out | 94% |
SP SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF | United States | 0.03% | $15.7B | +16% | Pays out | 88% |
XS XSMH.TO iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) | Canada | 0.22% | $35.1M | +14% | Pays out | 88% |
IU IUS3.DE iShares S&P SmallCap 600 UCITS ETF | Ireland | 0.30% | $3.08B | +23% | Pays out | 88% |
XS XSMC.TO iShares S&P U.S. Small-Cap Index ETF | Canada | 0.21% | $75.7M | +18% | Pays out | 88% |
IJ IJR.AX iShares S&P Small-Cap ETF | Australia | 0.07% | $575.5M | +9.1% | Pays out | 88% |
