@step-in-time
Do the taxes hit you if you hold VPMAX in a 401k? I had this fund but switched to VINIX cause of the cost and taxes. But I was new then, and decided lower cost average return was better.
Hi, sorry missed your question earlier! Own it in my taxable account, hence comparing the after-tax returns. If I was so lucky to have it in my 401k, I'd compare the after-fee (expense ratio) returns since it would grow tax deferred in a traditional 401k.
But again, past performance is no guarantee...it's a matter of investment goals/preferences, your target allocations, comfort zone, how much time you want to spend, etc. Personally enjoy managing my investments and researching this stuff (something I do with my dad), but if I didn't, would go with the index and forget it.