# Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vtmsx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Small/Micro Cap Equity - Strategy: Thematic · Inception: 1999-03-25 This particular offering, part of Vanguard's collection of tax-optimized investments, grants shareholders access to small-capitalization equities. It utilizes an index-tracking strategy to closely mirror its benchmark while simultaneously endeavoring to keep taxable capital gains to a minimum. A key risk factor for this fund arises from its singular focus on smaller companies, a sector of the market recognized for its inherent price fluctuations. This fund is primarily intended for individuals in higher tax brackets with an investment outlook of at least five years and a strong tolerance fo... ## Key Facts | Metric | Value | |---|---| | Price | $113.15 | | Expense Ratio | 0.05% | | Assets Under Management | $10.50B | | NAV | $113.15 | | Holdings Count | 0 | | Distribution Yield (TTM) | 1.31% | | Annual Distribution (TTM) | $1.49 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $91.62 – $122.91 | | Beta | 1.04 | ## Latest Distribution - Amount: $0.3289 /share - Ex-date: 2026-09-23 - Pay date: 2026-09-24 ## Frequently Asked Questions ### What does VTMSX invest in? This particular offering, part of Vanguard's collection of tax-optimized investments, grants shareholders access to small-capitalization equities. It utilizes an index-tracking strategy to closely mirror its benchmark while simultaneously endeavoring to keep taxable capital gains to a minimum. A key risk factor for this fund arises from its singular focus on smaller companies, a sector of the market recognized for its inherent price fluctuations. This fund is primarily intended for individuals in higher tax brackets with an investment outlook of at least five years and a strong tolerance for risk, serving as a supplementary component within a broader, well-allocated portfolio. Nevertheless, it is crucial to understand that the fund's stated goal of tax efficiency may not always be met. ### What is the expense ratio of VTMSX? Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) charges an expense ratio of 0.05%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is VTMSX? Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) manages $10.50B 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 VTMSX actively managed or an index fund? VTMSX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was VTMSX launched? Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) launched in March 1999 and is managed by Vanguard. ### How has VTMSX performed? VTMSX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does VTMSX pay a dividend? Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) currently distributes little or no income. Trailing-twelve-month yield is 1.31%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does VTMSX pay dividends? Vanguard Tax-Managed Small-Cap 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. ### What is VTMSX's dividend yield? VTMSX's trailing-twelve-month yield is 1.31%, calculated from the sum of dividends over the past year divided by the current price. ### When is VTMSX's next ex-dividend date? The most recently announced ex-dividend date for VTMSX was 2026-09-23. 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 VTMSX'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 VTMSX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VTMSX'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 VTMSX cost more than a fund like VOO? VTMSX's strategy (current expense ratio 0.05%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where VTMSX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VTMSX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VTMSX (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/vtmsx - Distribution history: https://www.dividenddata.com/funds/vtmsx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vtmsx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vtmsx/expenses - Peer comparison: https://www.dividenddata.com/funds/vtmsx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.