Immutable verification record

VANGUARD TAX-MANAGED SMALL-CAP FUND

Run 363649da-fcfb-4007-87ef-de06de7710ca · portfolio period 2026-03-31 · captured 2026-07-29T14:22:09.616Z

This is the permanent record of what our July 29, 2026 data run computed for Vanguard Tax-Managed Small-Cap Fund, and the exact SEC documents every number came from — it exists so anyone can check us.

Current interpretation · methodology 1.5

How to read this prior-run record now

This fund holds essentially the same portfolio as Vanguard Tax-Managed Small-Cap Fund but charges $50 a year per $100,000 instead of $30 — about $1,003 more over 20 years.

This interpretation is computed under the current methodology and is not inserted into the immutable record below.

Cite these figures

Each snippet includes the figure’s source-event date and immutable verification URL.

Best-fit active share

Sensible Investor, “VANGUARD TAX-MANAGED SMALL-CAP FUND — best-fit active share,” 4.3% versus the S&P SmallCap 600, fund portfolio as of 2026-03-31; measured against the filed holdings of iShares Core S&P Small-Cap ETF (IJR), as of 2026-03-31. https://sensible-investor.com/registry/vtmsx/as-of/363649da-fcfb-4007-87ef-de06de7710ca

VTMSX filed expense ratio

Sensible Investor, “VANGUARD TAX-MANAGED SMALL-CAP FUND — filed expense ratio,” 0.05% for VTMSX, as of 2025-12-31. https://sensible-investor.com/registry/vtmsx/as-of/363649da-fcfb-4007-87ef-de06de7710ca

Holdings difference for every comparison calculated in this run.
Index	Active share	Holdings evidence	Identifier match
the S&P SmallCap 600	4.3%	measured against the filed holdings of iShares Core S&P Small-Cap ETF (IJR), as of 2026-03-31	100.0%
the Russell 2000 index	57.8%	measured against the filed holdings of iShares Russell 2000 ETF (IWM), as of 2026-03-31	82.5%
the total US market	97.6%	measured against the filed holdings of Vanguard Total Stock Market ETF (VTI), as of 2026-03-31	99.3%
the Russell 1000 Value index	99.3%	measured against the filed holdings of iShares Russell 1000 Value ETF (IWD), as of 2026-03-31	15.9%
the Russell 1000 index	99.6%	measured against the filed holdings of iShares Russell 1000 ETF (IWB), as of 2026-03-31	17.0%
the Russell 1000 Growth index	99.9%	measured against the filed holdings of iShares Russell 1000 Growth ETF (IWF), as of 2026-03-31	4.0%
the S&P MidCap 400	100.0%	measured against the filed holdings of iShares Core S&P Mid-Cap ETF (IJH), as of 2026-03-31	0.0%
the S&P 500	100.0%	measured against the filed holdings of iShares Core S&P 500 ETF (IVV), as of 2026-03-31	0.0%

Filed expense ratios by share class

Each fee is tied to its filed SEC source and period.
Share class	Expense ratio	Filing period	SEC document
VTMSX (Vanguard Tax-Managed Small-Cap Fund)	0.05%	2025-12-31	Open SEC expense filing
VTSIX (Vanguard Tax-Managed Small-Cap Fund)	0.03%	2025-12-31	Open SEC expense filing

Match rates

How much of the fund filing could be matched to comparison holdings. A benchmark proxy is not compared with itself.
Fund identifier match	100.0%
the S&P SmallCap 600	100.0%
the Russell 2000 index	82.5%
the total US market	99.3%
the Russell 1000 Value index	15.9%
the Russell 1000 index	17.0%
the Russell 1000 Growth index	4.0%
the S&P MidCap 400	0.0%
the S&P 500	0.0%

Fee-drag windows

Dollar fee drag from licensed return windows; the lowest-cost control class is omitted rather than compared with itself, and missing history remains explicit.
Share class	Window	Fee drag	Window dates
VTMSX	10 years	$995	2016-07-29 to 2026-07-29
VTMSX	20 years	$4,621	2006-07-31 to 2026-07-29
VTMSX	30 years	proxy history begins 2000 — no full 30-year window	Proxy history begins 2000-05-26

Check it yourself

Open the fund’s linked SEC holdings filing and, for fees, the linked SEC expense filing in the table above.
Find each security identifier and portfolio weight in the holdings filing, and the net annual operating expense for the relevant share class in its expense filing.
Recalculate the comparison using the active-share formula and portfolio rules.

Raw record (JSON)

Download this record as JSON

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