VOO vs VTCIX
Vanguard S&P 500 ETF vs Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares
Quick Verdict
VOO delivered stronger 1-year returns. VTCIX offers more diversification with 836 holdings.
Side-by-Side Comparison
| Metric | VOO | VTCIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $997.4B | $5.2B | |
| Dividend Yield | 1.08% | 0.93% | |
| Holdings | 509 | 836 | |
| YTD Return | +12.25% | +12.53% | |
| 1Y Return | +20.92% | +20.38% | |
| 3Y Return (annualized) | +21.79% | +20.44% | |
| 5Y Return (annualized) | +13.05% | +11.10% | |
| Volatility (annualized) | 14.1% | 16.1% | |
| Max Drawdown | -34.3% | -26.0% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Sep 7, 2010 | Feb 24, 1999 |
VOO vs VTCIX Performance
Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US) and Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US). Over the past year VOO returned +20.92% while VTCIX returned +20.38%. Year to date, VOO is up 12.25% versus a gain of 12.53% for VTCIX.
Over three years, VOO compounded at +21.79% per year against +20.44% for VTCIX; over five years the annualized figures are +13.05% and +11.10% respectively. Across the full 5-year window we track, VOO has the edge at +13.45% annualized vs +11.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTCIX has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 14.1% for VOO. 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 -34.3% for VOO and -26.0% for VTCIX. 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VOO charges 0.03% per year while VTCIX charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, VOO currently yields 1.08% against 0.93% for VTCIX.
Holdings Overlap
VOO and VTCIX share 466 holdings out of 864 unique holdings combined, representing a 83.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, VOO or VTCIX?
VOO has an expense ratio of 0.03% while VTCIX charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, VOO or VTCIX?
Over the past year VOO returned +20.92% vs +20.38% for VTCIX, so VOO leads on 1-year performance. Over the longest common window we track (5 years), VOO annualized +13.45% vs +11.10% for VTCIX. Past performance does not guarantee future results.
Which is riskier, VOO or VTCIX?
VTCIX has been the more volatile fund at 16.1% annualized versus 14.1% for VOO. Worst drawdown: VOO -34.3% vs VTCIX -26.0%.
Should I hold both VOO and VTCIX?
VOO and VTCIX have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between VOO and VTCIX?
VOO and VTCIX share 466 common holdings with a 83.6% weight overlap. Combined, they hold 864 unique securities.
Which pays a higher dividend, VOO or VTCIX?
VOO yields 1.08% while VTCIX yields 0.93%, so VOO currently pays the higher dividend yield.
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