The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VTMSX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VTMSX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VTMSX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Tax-efficient small-cap exposure.
Zachary Evens
Analyst
Summary
Vanguard Tax-Managed Small Cap fund’s low fee, broad diversification, and profitability bias make it hard to beat.