TMSL vs VTI
T. Rowe Price Small-Mid Cap ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, TMSL or VTI?
Mid Cap Blend against Large Cap Blend.
VTI has a lower expense ratio. TMSL led over 1Y, VTI over 3Y and the full window. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 33.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | TMSL | VTI |
|---|---|---|
| Expense Ratio | 0.55% | 0.03%Best |
| AUM | $3.0B | $666.9B |
| Dividend Yield | 0.48% | 1.03% |
| Holdings | 287 | 3,543 |
| YTD Return | +12.87%Best | +11.06% |
| 1Y Return | +18.95%Best | +15.41% |
| 3Y Return (annualized) | +17.99% | +20.48%Best |
| 5Y Return (annualized) | - | +11.52% |
| Volatility (annualized) | 16.7% | 13.1%Best |
| Max Drawdown | -24.7% | -19.3%Best |
| $10,000 over 3.3 years | $16,562 | $17,749Best |
| Top 10 Weight | 9.6%Best | 33.3% |
| Fund Family | T.Rowe Price | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Jun 14, 2023 | May 24, 2001 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Sep 16, 2026 (3.3 years).
TMSL vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.3 years both funds cover.
TMSL vs VTI Performance
T. Rowe Price Small-Mid Cap ETF (TMSL) is an ETF from T.Rowe Price and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year TMSL returned +18.95% while VTI returned +15.41%. Year to date, TMSL is up 12.87% versus a gain of 11.06% for VTI.
Over three years, TMSL compounded at +17.99% per year against +20.48% for VTI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 13.1% 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 -24.7% for TMSL and -19.3% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
TMSL charges 0.55% per year while VTI charges 0.03%. On a $10,000 position that is $55 vs $3 annually, a gap of $52 per year that compounds over a long holding period. On income, TMSL currently yields 0.48% against 1.03% for VTI.
Holdings Overlap
93.2% of TMSL's money is in holdings VTI also owns. 3.4% of VTI's money is in holdings TMSL also owns.
Most of TMSL is already inside VTI. Owning both mostly buys the same companies twice.
261 positions in common, counted across the 285 positions we hold weights for in TMSL and 3,463 in VTI, against full books of 287 and 3,543.
What only one of them owns
Our book lists 952 positions for VTI that do not appear in our book for TMSL (94.1% of the fund), and 10 for TMSL that do not appear in VTI (2.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in TMSL | Weight in VTI | Difference |
|---|---|---|---|
| THCTenet Healthcare Corp Common Stock Usd 0.05 | 1.15% | 0.03% | 1.12% |
| BPOPPopular Inc | 1.15% | 0.01% | 1.14% |
| PRPermian Resource | 1.02% | 0.02% | 1.00% |
| 0RMV:LNTechnipfmc Plc Ordinary Shares | 0.93% | 0.04% | 0.89% |
| NVT:IENvent Electric Plc Ordinary Shares | 0.90% | 0.03% | 0.87% |
| CPAYCorpay Inc | 0.90% | 0.03% | 0.87% |
| AXSAxis Capital Holdings Ltd. | 0.91% | 0.01% | 0.90% |
| GHGuardant Health, Inc | 0.89% | 0.03% | 0.86% |
| EWBCEast West Bancorp, Inc. | 0.89% | 0.02% | 0.87% |
| RSReliance Steel & Aluminum Co. | 0.82% | 0.03% | 0.79% |
93.2% of TMSL is already inside VTI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, TMSL or VTI?
TMSL has an expense ratio of 0.55% while VTI charges 0.03%. VTI is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, TMSL or VTI?
Over the past year TMSL returned +18.95% vs +15.41% for VTI, so TMSL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TMSL or VTI?
TMSL has been the more volatile fund at 16.7% annualized versus 13.1% for VTI. Worst drawdown: TMSL -24.7% vs VTI -19.3%.
Should I hold both TMSL and VTI?
TMSL and VTI have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between TMSL and VTI?
93.2% of TMSL's money is in holdings VTI also owns. 3.4% of VTI's is in holdings TMSL also owns. They hold 261 positions in common, counted across the 285 positions we hold weights for in TMSL and 3,463 in VTI.
Which pays a higher dividend, TMSL or VTI?
TMSL yields 0.48% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is VTI better than TMSL?
VTI has a lower expense ratio. TMSL led over 1Y, VTI over 3Y and the full window. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 33.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.