VEXAX vs. VTI

Last updated Jun 24, 2026

VEXAX (Vanguard Extended Market Index Fund Admiral Shares) and VTI (Vanguard Total Stock Market ETF) are both funds - VEXAX is a Mid Cap Blend Equities fund managed by Vanguard, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Over the past 10 years, VEXAX returned 12.62%/yr vs 15.14%/yr for VTI. Their correlation of 0.93 suggests significant overlap in exposure. VEXAX charges 0.06%/yr vs 0.03%/yr for VTI.

Performance

VEXAX vs. VTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Admiral Shares (VEXAX) and Vanguard Total Stock Market ETF (VTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEXAX achieves a 15.56% return, which is significantly higher than VTI's 8.82% return. Over the past 10 years, VEXAX has underperformed VTI with an annualized return of 12.62%, while VTI has yielded a comparatively higher 15.14% annualized return.

VEXAX

• 1D: -0.12%
• 1M: 4.29%
• YTD: 15.56%
• 6M: 13.21%
• 1Y: 29.39%
• 3Y*: 20.27%
• 5Y*: 6.40%
• 10Y*: 12.62%

VTI

• 1D: -1.39%
• 1M: -0.84%
• YTD: 8.82%
• 6M: 7.71%
• 1Y: 24.22%
• 3Y*: 20.62%
• 5Y*: 11.90%
• 10Y*: 15.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VEXAX vs. VTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEXAX Vanguard Extended Market Index Fund Admiral Shares	15.56%	11.42%	15.47%	26.95%	-26.46%	12.45%	32.22%	28.03%	-9.37%	18.11%
VTI Vanguard Total Stock Market ETF	8.82%	17.10%	23.81%	26.05%	-19.52%	25.68%	21.08%	30.67%	-5.23%	21.21%

Correlation

The correlation between VEXAX and VTI is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 31, 2001	0.93

The correlation between VEXAX and VTI has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

VEXAX vs. VTI - Sectors Allocation Comparison

Sectors	VEXAX	VTI
Technology	22.8%	37.0%
Industrials	19.3%	9.4%
Financial Services	14.0%	11.3%
Healthcare	12.9%	9.0%
Consumer Cyclical	9.2%	9.7%
Real Estate	5.8%	2.3%
Energy	4.4%	3.3%
Basic Materials	4.2%	1.9%
Communication Services	3.2%	9.8%
Consumer Defensive	2.5%	4.3%
Utilities	1.9%	2.1%

Return for Risk

VEXAX vs. VTI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VEXAX

VEXAX Risk / Return Rank: 47
VEXAX Sharpe Ratio Rank: 41
VEXAX Sortino Ratio Rank: 38
VEXAX Omega Ratio Rank: 36
VEXAX Calmar Ratio Rank: 66
VEXAX Martin Ratio Rank: 55

VTI

VTI Risk / Return Rank: 59
VTI Sharpe Ratio Rank: 58
VTI Sortino Ratio Rank: 56
VTI Omega Ratio Rank: 57
VTI Calmar Ratio Rank: 57
VTI Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VEXAX vs. VTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Admiral Shares (VEXAX) and Vanguard Total Stock Market ETF (VTI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VEXAX	VTI	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.90	-0.18
Sortino ratio: Return per unit of downside risk	2.40	2.59	-0.19
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	2.99	2.73	+0.26
Martin ratio: Return relative to average drawdown	10.49	12.14	-1.65

VEXAX vs. VTI - Sharpe Ratio Comparison

The current VEXAX Sharpe Ratio is 1.72, which is comparable to the VTI Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of VEXAX and VTI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VEXAX vs. VTI - Drawdown Comparison

The maximum VEXAX drawdown since its inception was -58.08%, roughly equal to the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for VEXAX and VTI.

Drawdown Indicators

	VEXAX	VTI	Difference
Max Drawdown Largest peak-to-trough decline	-58.08%	-55.45%	-2.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-8.92%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-26.84%	-19.30%	-7.54%
Max Drawdown (5Y) Largest decline over 5 years	-36.33%	-25.36%	-10.97%
Max Drawdown (10Y) Largest decline over 10 years	-41.62%	-35.00%	-6.62%
Current Drawdown Current decline from peak	-0.24%	-2.85%	+2.61%
Average Drawdown Average peak-to-trough decline	-12.16%	-8.01%	-4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.00%	+0.91%

Volatility

VEXAX vs. VTI - Volatility Comparison

Vanguard Extended Market Index Fund Admiral Shares (VEXAX) has a higher volatility of 6.09% compared to Vanguard Total Stock Market ETF (VTI) at 4.95%. This indicates that VEXAX's price experiences larger fluctuations and is considered to be riskier than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEXAX	VTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	4.95%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	10.05%	+3.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	12.83%	+5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	17.51%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.42%	18.32%	+4.10%

VEXAX vs. VTI - Expense Ratio Comparison

VEXAX has a 0.06% expense ratio, which is higher than VTI's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEXAX vs. VTI - Dividend Comparison

VEXAX's dividend yield for the trailing twelve months is around 1.01%, less than VTI's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEXAX Vanguard Extended Market Index Fund Admiral Shares	1.01%	1.14%	1.09%	1.25%	1.15%	1.13%	1.07%	1.30%	1.66%	1.25%	1.43%	1.35%
VTI Vanguard Total Stock Market ETF	1.04%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both VEXAX and VTI in my portfolio?

VEXAX and VTI have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEXAX or VTI?

VEXAX has higher volatility (6.09%) compared to VTI (4.95%). In terms of maximum drawdown, VEXAX dropped -58.08% vs VTI's -55.45%.

Which has better risk-adjusted returns?

VTI currently has the higher Sharpe Ratio (1.90 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.