According to Morningstar VWELX has a 5.40% average annual TAX ADJUSTED RETURN at the highest tax rate for the last 10 years. TWEIX had a 5.91% average annual TAX ADJUSTED RETURN at the highest tax rate for the last 10 years.  The recommended tax friendly value index had a 3.72% average annual TAX ADJUSTED RETURN at the highest tax rate for the last 10 years.

Looks like 2% outperformance annually after taxes to me.  As they say, don't let the tax tail wag the dog and save the $2,000 tax hit.

Herman