VCV vs VTI
Invesco California Value Municipal Income Trust vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | VCV | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 3.57% | 0.03% | |
| AUM | $3,027.72 | $663.5B | |
| Dividend Yield | 7.48% | 1.07% | |
| Holdings | 346 | 3,543 | |
| YTD Return | +0.14% | +14.22% | |
| 1Y Return | +11.92% | +22.19% | |
| 3Y Return (annualized) | +10.83% | +21.27% | |
| 5Y Return (annualized) | -0.10% | +12.23% | |
| Volatility (annualized) | 14.3% | 15.3% | |
| Max Drawdown | -63.9% | -56.6% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Apr 30, 1993 | May 24, 2001 |
VCV vs VTI Performance
Invesco California Value Municipal Income Trust (VCV) is a ETF from Invesco (US) and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year VCV returned +11.92% while VTI returned +22.19%. Year to date, VCV is up 0.14% versus a gain of 14.22% for VTI.
Over three years, VCV compounded at +10.83% per year against +21.27% for VTI; over five years the annualized figures are -0.10% and +12.23% respectively. Across the full 25-year window we track, VTI has the edge at +8.14% annualized vs +0.53%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.3% for VCV. 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 -63.9% for VCV 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
VCV charges 3.57% per year while VTI charges 0.03%. On a $10,000 position that is $357 vs $3 annually, a gap of $354 per year that compounds over a long holding period. On income, VCV currently yields 7.48% against 1.07% for VTI.
Holdings Overlap
VCV and VTI share 0 holdings out of 2871 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, VCV or VTI?
VCV has an expense ratio of 3.57% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $354 per year of difference.
Which performed better, VCV or VTI?
Over the past year VCV returned +11.92% vs +22.19% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), VCV annualized +0.53% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, VCV or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 14.3% for VCV. Worst drawdown: VCV -63.9% vs VTI -56.6%.
Should I hold both VCV and VTI?
VCV and VTI have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VCV and VTI?
VCV and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2871 unique securities.
Which pays a higher dividend, VCV or VTI?
VCV yields 7.48% while VTI yields 1.07%, so VCV currently pays the higher dividend yield.
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