VFWAX vs. VTIAX

Last updated Aug 4, 2026

VFWAX (Vanguard FTSE All-World ex-US Index Fund Admiral Shares) and VTIAX (Vanguard Total International Stock Index Fund Admiral Shares) are both Foreign Large Cap Equities funds from Vanguard - VFWAX tracks the FTSE All-World ex US Index while VTIAX tracks the FTSE Global All Cap ex US Index. Both are passively managed. Over the past 10 years, VFWAX returned 9.63%/yr vs 9.43%/yr for VTIAX. Their 1.00 correlation means they have historically moved very closely together. VFWAX charges 0.11%/yr vs 0.09%/yr for VTIAX.

Performance

VFWAX vs. VTIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFWAX achieves a 13.59% return, which is significantly higher than VTIAX's 12.86% return. Both investments have delivered pretty close results over the past 10 years, with VFWAX having a 9.63% annualized return and VTIAX not far behind at 9.43%.

VFWAX

• 1D: 0.08%
• 1M: 0.43%
• 6M: 7.12%
• YTD: 13.59%
• 1Y: 28.92%
• 3Y*: 17.59%
• 5Y*: 9.19%
• 10Y*: 9.63%
• ALL TIME*: 8.06%

VTIAX

• 1D: 0.07%
• 1M: 0.18%
• 6M: 6.45%
• YTD: 12.86%
• 1Y: 27.78%
• 3Y*: 17.20%
• 5Y*: 8.82%
• 10Y*: 9.43%
• ALL TIME*: 6.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	$0.00	$0.00	$0.00
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	$0.00	$0.00	$0.00

VFWAX vs. VTIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	13.59%	32.32%	5.43%	15.55%	-15.51%	8.08%	11.34%	21.53%	-13.97%	27.20%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	12.86%	32.18%	5.34%	15.28%	-16.02%	8.59%	11.27%	21.52%	-14.46%	27.54%

Correlation

The correlation between VFWAX and VTIAX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	1.00
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	1.00

The correlation between VFWAX and VTIAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

VFWAX vs. VTIAX - Sectors Allocation Comparison

Sectors	VFWAX	VTIAX
Technology	23.2%	25.6%
Financial Services	23.1%	24.2%
Industrials	14.7%	13.8%
Consumer Cyclical	7.6%	6.4%
Healthcare	6.8%	6.9%
Basic Materials	6.5%	5.9%
Consumer Defensive	4.9%	4.6%
Energy	4.3%	4.4%
Communication Services	4.2%	3.9%
Utilities	3.0%	2.6%
Real Estate	1.8%	0.9%

Return for Risk

VFWAX vs. VTIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VFWAX

VFWAX Risk / Return Rank: 72
VFWAX Sharpe Ratio Rank: 73
VFWAX Sortino Ratio Rank: 68
VFWAX Omega Ratio Rank: 72
VFWAX Calmar Ratio Rank: 75
VFWAX Martin Ratio Rank: 72

VTIAX

VTIAX Risk / Return Rank: 70
VTIAX Sharpe Ratio Rank: 71
VTIAX Sortino Ratio Rank: 66
VTIAX Omega Ratio Rank: 70
VTIAX Calmar Ratio Rank: 72
VTIAX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VFWAX vs. VTIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). 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.

	VFWAX	VTIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.72	+0.05
Sortino ratio: Return per unit of downside risk	2.42	2.37	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.52	2.43	+0.09
Martin ratio: Return relative to average drawdown	9.34	9.02	+0.32

VFWAX vs. VTIAX - Sharpe Ratio Comparison

The current VFWAX Sharpe Ratio is 1.77, which is comparable to the VTIAX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VFWAX and VTIAX, 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

VFWAX vs. VTIAX - Drawdown Comparison

The maximum VFWAX drawdown since its inception was -34.93%, roughly equal to the maximum VTIAX drawdown of -35.83%. Use the drawdown chart below to compare losses from any high point for VFWAX and VTIAX.

Drawdown Indicators

	VFWAX	VTIAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.93%	-35.83%	+0.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-11.28%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-13.13%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-29.20%	-29.52%	+0.32%
Max Drawdown (10Y) Largest decline over 10 years	-34.93%	-35.83%	+0.90%
Current Drawdown Current decline from peak	-2.38%	-2.55%	+0.17%
Average Drawdown Average peak-to-trough decline	-7.14%	-8.02%	+0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	3.04%	+0.01%

Volatility

VFWAX vs. VTIAX - Volatility Comparison

Vanguard FTSE All-World ex-US Index Fund Admiral Shares (VFWAX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX) have volatilities of 5.30% and 5.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFWAX	VTIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	5.26%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	14.12%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	15.96%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	15.36%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	15.82%	+0.16%

VFWAX vs. VTIAX - Expense Ratio Comparison

VFWAX has a 0.11% expense ratio, which is higher than VTIAX's 0.09% 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

VFWAX vs. VTIAX - Dividend Comparison

VFWAX's dividend yield for the trailing twelve months is around 2.51%, less than VTIAX's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFWAX Vanguard FTSE All-World ex-US Index Fund Admiral Shares	2.51%	3.05%	3.20%	3.28%	3.07%	3.03%	1.97%	3.07%	3.24%	2.67%	2.96%	2.95%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	2.55%	3.15%	3.33%	3.22%	3.04%	3.05%	2.10%	3.04%	3.16%	2.73%	2.93%	2.84%

Frequently Asked Questions

Can I hold both VFWAX and VTIAX in my portfolio?

With a correlation of 1.00, VFWAX and VTIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VFWAX or VTIAX?

VFWAX has higher volatility (5.30%) compared to VTIAX (5.26%). In terms of maximum drawdown, VFWAX dropped -34.93% vs VTIAX's -35.83%.

Which has better risk-adjusted returns?

VFWAX currently has the higher Sharpe Ratio (1.77 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.