GMMF vs VXUS
iShares Government Money Market ETF vs Vanguard Total International Stock ETF
Quick Verdict
VXUS has a lower expense ratio. VXUS delivered stronger 1-year returns. VXUS offers more diversification with 7861 holdings.
Side-by-Side Comparison
| Metric | GMMF | VXUS | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.05% | |
| AUM | $186M | $156.5B | |
| Dividend Yield | 3.86% | 2.60% | |
| Holdings | 152 | 8,747 | |
| YTD Return | +2.02% | +14.07% | |
| 1Y Return | +3.62% | +27.24% | |
| 3Y Return (annualized) | - | +19.27% | |
| 5Y Return (annualized) | - | +9.14% | |
| Volatility (annualized) | 0.6% | 15.1% | |
| Max Drawdown | -0.3% | -39.9% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Money Market | Equity | |
| Inception | Feb 4, 2025 | Jan 26, 2011 |
GMMF vs VXUS Performance
iShares Government Money Market ETF (GMMF) is a ETF from iShares by BlackRock (US) and Vanguard Total International Stock ETF (VXUS) is a ETF from Vanguard (US). Over the past year GMMF returned +3.62% while VXUS returned +27.24%. Year to date, GMMF is up 2.02% versus a gain of 14.07% for VXUS.
Risk: Volatility and Drawdowns
VXUS has been the more volatile fund, with annualized monthly volatility of 15.1% 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 -39.9% for VXUS. 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 -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMMF charges 0.20% per year while VXUS charges 0.05%. On a $10,000 position that is $20 vs $5 annually, a gap of $15 per year that compounds over a long holding period. On income, GMMF currently yields 3.86% against 2.60% for VXUS.
Holdings Overlap
GMMF and VXUS share 0 holdings out of 7877 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 VXUS?
GMMF has an expense ratio of 0.20% while VXUS charges 0.05%. VXUS is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, GMMF or VXUS?
Over the past year GMMF returned +3.62% vs +27.24% for VXUS, so VXUS leads on 1-year performance. Over the longest common window we track (2 years), GMMF annualized +3.83% vs +4.83% for VXUS. Past performance does not guarantee future results.
Which is riskier, GMMF or VXUS?
VXUS has been the more volatile fund at 15.1% annualized versus 0.6% for GMMF. Worst drawdown: GMMF -0.3% vs VXUS -39.9%.
Should I hold both GMMF and VXUS?
GMMF and VXUS have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMMF and VXUS?
GMMF and VXUS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 7877 unique securities.
Which pays a higher dividend, GMMF or VXUS?
GMMF yields 3.86% while VXUS yields 2.60%, so GMMF currently pays the higher dividend yield.
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