VTCIX vs VTI
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares vs Vanguard Morningstar Total Stock Market ETF
Which is better, VTCIX or VTI?
Each has led over a different period.
VTCIX led over 3Y, 5Y and the full window, VTI over 1Y. The two have moved almost in lockstep, correlation 1.00. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 34.8%.
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 | VTCIX | VTI |
|---|---|---|
| Expense Ratio | 0.03%Tie | 0.03%Tie |
| AUM | $5.2B | $690.1B |
| Dividend Yield | 0.90% | 1.03% |
| Holdings | 890 | 3,524 |
| YTD Price Return | +12.93% | +13.57%Best |
| 1Y Price Return | +14.75% | +15.51%Best |
| 3Y Price Return (annualized) | +21.18%Best | +21.01% |
| 5Y Price Return (annualized) | +11.80%Best | +11.20% |
| Volatility (annualized) | 15.7%Best | 15.8% |
| Max Drawdown | -26.0%Best | -26.2% |
| $10,000 over 5 years | $17,467Best | $17,003 |
| Top 10 Weight | 34.8% | 33.3%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 24, 1999 | May 24, 2001 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for VTCIX. Both funds are measured the same way, so the comparison holds. VTCIX yields 0.90% and VTI 1.03% on top.
Volatility and max drawdown are measured over the window both funds cover: Oct 12, 2021 to Oct 8, 2026 (5 years).
VTCIX 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 5 years both funds cover. Prices exclude distributions, on both funds alike.
VTCIX vs VTI Performance
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares (VTCIX) is a mutual fund from Vanguard (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year VTCIX returned +14.75% while VTI returned +15.51%. Year to date, VTCIX is up 12.93% versus a gain of 13.57% for VTI.
Over three years, VTCIX compounded at +21.18% per year against +21.01% for VTI; over five years the annualized figures are +11.80% and +11.20% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 15.7% for VTCIX. 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 -26.0% for VTCIX and -26.2% 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VTCIX charges 0.03% per year while VTI charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, VTCIX currently yields 0.90% against 1.03% for VTI.
Structure and taxes
VTCIX is a mutual fund and VTI is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
97.1% of VTCIX's money is in holdings VTI also owns. 91.9% of VTI's money is in holdings VTCIX also owns.
Most of VTCIX is already inside VTI. Owning both mostly buys the same companies twice.
805 positions in common, counted across the 842 positions we hold weights for in VTCIX and 3,463 in VTI, against full books of 890 and 3,524.
What only one of them owns
Our book lists 400 positions for VTI that do not appear in our book for VTCIX (5.8% of the fund), and 11 for VTCIX that do not appear in VTI (0.4%).
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 VTCIX | Weight in VTI | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.83% | 6.40% | 0.43% |
| AAPLApple, Inc | 6.51% | 6.29% | 0.22% |
| MSFTMicrosoft Corp | 4.90% | 4.79% | 0.11% |
| AMZNAmazon.Com Inc | 3.78% | 3.65% | 0.13% |
| GOOGLAlphabet Inc,class A | 2.91% | 2.90% | 0.01% |
| AVGOBroadcom Inc | 2.60% | 2.56% | 0.04% |
| GOOGAlphabet Inc. C | 2.49% | 2.31% | 0.18% |
| METAMeta Platforms Inc | 1.77% | 1.70% | 0.07% |
| JPMJpmorgan Chase | 1.51% | 1.31% | 0.20% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.52% | 1.28% | 0.24% |
97.1% of VTCIX 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, VTCIX or VTI?
VTCIX has an expense ratio of 0.03% while VTI charges 0.03%. At the precision these are quoted to, they cost the same.
Which performed better, VTCIX or VTI?
Over the past year VTCIX returned +14.75% vs +15.51% for VTI, so VTI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VTCIX or VTI?
VTI has been the more volatile fund at 15.8% annualized versus 15.7% for VTCIX. Worst drawdown: VTCIX -26.0% vs VTI -26.2%.
Should I hold both VTCIX and VTI?
VTCIX and VTI have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between VTCIX and VTI?
97.1% of VTCIX's money is in holdings VTI also owns. 91.9% of VTI's is in holdings VTCIX also owns. They hold 805 positions in common, counted across the 842 positions we hold weights for in VTCIX and 3,463 in VTI.
Which pays a higher dividend, VTCIX or VTI?
VTCIX yields 0.90% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is it better to hold VTCIX or VTI in a taxable account?
VTI is an ETF and VTCIX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VTI better than VTCIX?
VTCIX led over 3Y, 5Y and the full window, VTI over 1Y. The two have moved almost in lockstep, correlation 1.00. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 34.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.