VTCIX vs VTI
Vanguard Tax-Managed Capital Appreciation Fund Institutional Shares vs Vanguard Morningstar Total Stock Market ETF
Which is better, VTCIX or VTI?
VTCIX has been ahead.
VTCIX led over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 1.00.
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 | $666.9B |
| Dividend Yield | 0.90% | 1.03% |
| Holdings | 836 | 3,543 |
| YTD Price Return | +11.60% | +11.89%Best |
| 1Y Price Return | +15.87%Tie | +15.87%Tie |
| 3Y Price Return (annualized) | +19.44%Best | +19.30% |
| 5Y Price Return (annualized) | +10.91%Best | +10.30% |
| Volatility (annualized) | 15.9%Best | 16.1% |
| Max Drawdown | -26.0%Best | -26.2% |
| $10,000 over 5 years | $16,782Best | $16,326 |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 24, 1999 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
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: Sep 13, 2021 to Sep 11, 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 +15.87% while VTI returned +15.87%. Year to date, VTCIX is up 11.60% versus a gain of 11.89% for VTI.
Over three years, VTCIX compounded at +19.44% per year against +19.30% for VTI; over five years the annualized figures are +10.91% and +10.30% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.9% 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
At least 96.4% of VTCIX's money is in holdings VTI also owns.
Stated as a floor: for VTI, our book for it covers 90.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of VTCIX is already inside VTI. Owning both mostly buys the same companies twice.
735 positions in common, counted across the 884 positions we hold weights for in VTCIX and 2,787 in VTI, against full books of 836 and 3,543.
Top Shared Holdings
| Stock | Weight in VTCIX | Weight in VTI | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.77% | 6.32% | 0.45% |
| AAPLApple, Inc | 6.06% | 5.84% | 0.22% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.91% | 3.81% | 0.10% |
| AMZNAmazon.Com Inc | 3.30% | 3.17% | 0.13% |
| GOOGLAlphabet A Usd 0.001 | 2.90% | 2.88% | 0.02% |
| AVGOBroadcom Inc | 2.51% | 2.46% | 0.05% |
| GOOGAlphabet Inc | 2.45% | 2.27% | 0.18% |
| MUMicron Technology, Inc. | 1.84% | 1.79% | 0.05% |
| TSLATesla Inc | 1.75% | 1.63% | 0.12% |
| LLYEli Lilly & Co. | 1.40% | 1.40% | 0.00% |
96.4% 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 +15.87% vs +15.87% 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 16.1% annualized versus 15.9% 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?
At least 96.4% of VTCIX's money is in holdings VTI also owns. Our book for VTI is partial, so the real figure is this or higher. They hold 735 positions in common, counted across the 884 positions we hold weights for in VTCIX and 2,787 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. The two have moved almost in lockstep, correlation 1.00. Which one suits a particular account depends on what it is for. This is information, not a recommendation.