# Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vtmfx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Multi-Asset - Strategy: Passive Index · Inception: 1994-09-06 A Vanguard offering from its tax-managed investment series, this fund dedicates roughly 50% of its portfolio to U.S. stocks, focusing on mid- and large-cap companies, with the remaining balance invested in municipal bonds that are free from federal taxes. The equity portion utilizes an index-tracking strategy designed to replicate its benchmark while actively minimizing taxable dividend distributions. It is primarily intended for investors in higher tax brackets who are pursuing some capital appreciation and can tolerate the market fluctuations associated with both stock and bond investment... ## Key Facts | Metric | Value | |---|---| | Price | $51.36 | | Expense Ratio | 0.05% | | Assets Under Management | $12.00B | | NAV | $51.36 | | Holdings Count | 943 | | Distribution Yield (TTM) | 2.26% | | Annual Distribution (TTM) | $1.16 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $47.17 – $52.20 | | Beta | 0.82 | ## Latest Distribution - Amount: $0.2951 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does VTMFX invest in? A Vanguard offering from its tax-managed investment series, this fund dedicates roughly 50% of its portfolio to U.S. stocks, focusing on mid- and large-cap companies, with the remaining balance invested in municipal bonds that are free from federal taxes. The equity portion utilizes an index-tracking strategy designed to replicate its benchmark while actively minimizing taxable dividend distributions. It is primarily intended for investors in higher tax brackets who are pursuing some capital appreciation and can tolerate the market fluctuations associated with both stock and bond investments. Please note: The fund's tax-efficiency goal may not always be met. ### What is the expense ratio of VTMFX? Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) charges an expense ratio of 0.05%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VTMFX's dividend yield? VTMFX's trailing-twelve-month yield is 2.26%, calculated from the sum of dividends over the past year divided by the current price. ### How big is VTMFX? Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) manages $12.00B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is VTMFX actively managed or an index fund? VTMFX is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (VTMFX's is 0.05%) because there's no security selection cost. ### When was VTMFX launched? Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) launched in September 1994 and is managed by Vanguard. ### Does VTMFX pay a dividend? Yes, Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) distributes dividends to shareholders. The trailing-twelve-month yield is 2.26%. Full dividend history is on this page. ### How often does VTMFX pay dividends? Vanguard Tax-Managed Balanced Fund Admiral Shares pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is VTMFX's next ex-dividend date? The most recently announced ex-dividend date for VTMFX was 2026-09-28. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will VTMFX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.05% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VTMFX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VTMFX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VTMFX cost more than a fund like VOO? VTMFX is a passive index fund (current expense ratio 0.05%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to VTMFX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VTMFX (0.05%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vtmfx - Distribution history: https://www.dividenddata.com/funds/vtmfx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vtmfx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vtmfx/expenses - Peer comparison: https://www.dividenddata.com/funds/vtmfx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.