AVK vs VTI
Advent Convertible and Income Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | AVK | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 2.77% | 0.03% | |
| AUM | $623M | $666.9B | |
| Dividend Yield | 10.48% | 1.07% | |
| Holdings | 435 | 3,543 | |
| YTD Return | +7.94% | +12.65% | |
| 1Y Return | +14.19% | +21.39% | |
| 3Y Return (annualized) | +16.23% | +21.54% | |
| 5Y Return (annualized) | +4.85% | +12.11% | |
| Volatility (annualized) | 20.9% | 15.3% | |
| Max Drawdown | -72.6% | -56.6% | |
| Fund Family | Guggenheim Investments | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Apr 29, 2003 | May 24, 2001 |
AVK vs VTI Performance
Advent Convertible and Income Fund (AVK) is a ETF from Guggenheim Investments and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year AVK returned +14.19% while VTI returned +21.39%. Year to date, AVK is up 7.94% versus a gain of 12.65% for VTI.
Over three years, AVK compounded at +16.23% per year against +21.54% for VTI; over five years the annualized figures are +4.85% and +12.11% respectively. Across the full 23-year window we track, VTI has the edge at +8.07% annualized vs -0.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVK has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 15.3% for VTI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -72.6% for AVK and -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVK charges 2.77% per year while VTI charges 0.03%. On a $10,000 position that is $277 vs $3 annually, a gap of $274 per year that compounds over a long holding period. On income, AVK currently yields 10.48% against 1.07% for VTI.
Holdings Overlap
AVK and VTI share 23 holdings out of 3029 unique holdings combined, representing a 5.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AVK or VTI?
AVK has an expense ratio of 2.77% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $274 per year of difference.
Which performed better, AVK or VTI?
Over the past year AVK returned +14.19% vs +21.39% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (23 years), AVK annualized -0.02% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, AVK or VTI?
AVK has been the more volatile fund at 20.9% annualized versus 15.3% for VTI. Worst drawdown: AVK -72.6% vs VTI -56.6%.
Should I hold both AVK and VTI?
AVK and VTI have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVK and VTI?
AVK and VTI share 23 common holdings with a 5.2% weight overlap. Combined, they hold 3029 unique securities.
Which pays a higher dividend, AVK or VTI?
AVK yields 10.48% while VTI yields 1.07%, so AVK currently pays the higher dividend yield.
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