VTI vs VTWAX
Vanguard Morningstar Total Stock Market ETF vs Vanguard Total World Stock Index Fund Admiral Class
Which is better, VTI or VTWAX?
Nearly the same fund. VTI costs less.
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | VTI | VTWAX |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $690.1B | $12.1B |
| Dividend Yield | 1.03% | 1.52% |
| Holdings | 3,524 | 10,039 |
| YTD Price Return | +13.57%Best | +11.67% |
| 1Y Price Return | +15.51%Best | +13.71% |
| 3Y Price Return (annualized) | +21.01%Best | +19.35% |
| 5Y Price Return (annualized) | +11.20%Best | +9.15% |
| Volatility (annualized) | 15.8% | 15.0%Best |
| Max Drawdown | -26.2%Best | -28.0% |
| $10,000 over 5 years | $17,003Best | $15,492 |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 24, 2001 | Feb 7, 2019 |
Not shown on this pair: Top 10 Weight.
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for VTWAX. Both funds are measured the same way, so the comparison holds. VTI yields 1.03% and VTWAX 1.52% on top.
Volatility and max drawdown are measured over the window both funds cover: Oct 12, 2021 to Oct 8, 2026 (5 years).
VTI vs VTWAX 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.
VTI vs VTWAX Performance
Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US) and Vanguard Total World Stock Index Fund Admiral Class (VTWAX) is a mutual fund from Vanguard (US). Over the past year VTI returned +15.51% while VTWAX returned +13.71%. Year to date, VTI is up 13.57% versus a gain of 11.67% for VTWAX.
Over three years, VTI compounded at +21.01% per year against +19.35% for VTWAX; over five years the annualized figures are +11.20% and +9.15% 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 15.0% for VTWAX. 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 -26.2% for VTI and -28.0% for VTWAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VTI charges 0.03% per year while VTWAX charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, VTI currently yields 1.03% against 1.52% for VTWAX.
Structure and taxes
VTWAX 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 93.5% of VTI's money is in holdings VTWAX also owns.
Stated as a floor: for VTWAX, our book for it covers 91.0% 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 VTI is already inside VTWAX. Owning both mostly buys the same companies twice.
The two holdings books were reported 181 days apart, VTI as of Jul 31, 2026 and VTWAX as of Jan 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1,489 positions in common, counted across the 3,463 positions we hold weights for in VTI and 9,801 in VTWAX, against full books of 3,524 and 10,039.
Top Shared Holdings
| Stock | Weight in VTI | Weight in VTWAX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.40% | 4.16% | 2.24% |
| AAPLApple, Inc | 6.29% | 3.51% | 2.78% |
| MSFTMicrosoft Corp | 4.79% | 2.96% | 1.83% |
| AMZNAmazon.Com Inc | 3.65% | 2.13% | 1.52% |
| GOOGAlphabet Inc. C | 2.31% | 1.83% | 0.48% |
| AVGOBroadcom Inc | 2.56% | 1.42% | 1.14% |
| METAMeta Platforms Inc | 1.70% | 1.45% | 0.25% |
| TSLATesla Inc | 1.22% | 1.13% | 0.09% |
| LLYEli Lilly & Co. | 1.35% | 0.77% | 0.58% |
| JPMJpmorgan Chase | 1.31% | 0.74% | 0.57% |
93.5% of VTI is already inside VTWAX.
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, VTI or VTWAX?
VTI has an expense ratio of 0.03% while VTWAX charges 0.09%. VTI is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, VTI or VTWAX?
Over the past year VTI returned +15.51% vs +13.71% for VTWAX, so VTI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VTI or VTWAX?
VTI has been the more volatile fund at 15.8% annualized versus 15.0% for VTWAX. Worst drawdown: VTI -26.2% vs VTWAX -28.0%.
Should I hold both VTI and VTWAX?
VTI and VTWAX have a monthly-return correlation of 0.97, 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 VTI and VTWAX?
At least 93.5% of VTI's money is in holdings VTWAX also owns. Our book for VTWAX is partial, so the real figure is this or higher. They hold 1,489 positions in common, counted across the 3,463 positions we hold weights for in VTI and 9,801 in VTWAX.
Which pays a higher dividend, VTI or VTWAX?
VTI yields 1.03% while VTWAX yields 1.52%, so VTWAX currently pays the higher dividend yield.
Is it better to hold VTWAX or VTI in a taxable account?
VTI is an ETF and VTWAX 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 VTWAX better than VTI?
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.