GMMF vs VTI
iShares Government Money Market ETF 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 | GMMF | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $191M | $666.9B | |
| Dividend Yield | 3.86% | 1.07% | |
| Holdings | 152 | 3,543 | |
| YTD Return | +2.16% | +14.82% | |
| 1Y Return | +3.73% | +22.43% | |
| 3Y Return (annualized) | - | +21.93% | |
| 5Y Return (annualized) | - | +12.34% | |
| Volatility (annualized) | 0.6% | 15.4% | |
| Max Drawdown | -0.3% | -56.6% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Money Market | Equity | |
| Inception | Feb 4, 2025 | May 24, 2001 |
GMMF vs VTI Performance
iShares Government Money Market ETF (GMMF) is a ETF from iShares by BlackRock (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year GMMF returned +3.73% while VTI returned +22.43%. Year to date, GMMF is up 2.16% versus a gain of 14.82% for VTI.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 0.6% for GMMF. 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 -0.3% for GMMF 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 0.07. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMMF charges 0.20% per year while VTI charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, GMMF currently yields 3.86% against 1.07% for VTI.
Holdings Overlap
GMMF and VTI share 0 holdings out of 2803 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GMMF or VTI?
GMMF has an expense ratio of 0.20% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, GMMF or VTI?
Over the past year GMMF returned +3.73% vs +22.43% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (2 years), GMMF annualized +3.89% vs +8.16% for VTI. Past performance does not guarantee future results.
Which is riskier, GMMF or VTI?
VTI has been the more volatile fund at 15.4% annualized versus 0.6% for GMMF. Worst drawdown: GMMF -0.3% vs VTI -56.6%.
Should I hold both GMMF and VTI?
GMMF and VTI have a monthly-return correlation of 0.07, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMMF and VTI?
GMMF and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2803 unique securities.
Which pays a higher dividend, GMMF or VTI?
GMMF yields 3.86% while VTI yields 1.07%, so GMMF currently pays the higher dividend yield.
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