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VLCAX vs. VTI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VLCAX vs. VTI

Last updated Jun 3, 2026

VLCAX (Vanguard Large-Cap Index Fund Admiral Shares) and VTI (Vanguard Total Stock Market ETF) are both Large Cap Blend Equities funds from Vanguard. Over the past 10 years, VLCAX returned 15.63%/yr vs 15.13%/yr for VTI. With a 0.99 correlation, they move nearly in lockstep. VLCAX charges 0.05%/yr vs 0.03%/yr for VTI.

Performance

VLCAX vs. VTI - Performance Comparison

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

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Returns By Period

In the year-to-date period, VLCAX achieves a 11.30% return, which is significantly lower than VTI's 12.01% return. Both investments have delivered pretty close results over the past 10 years, with VLCAX having a 15.63% annualized return and VTI not far behind at 15.13%.

VLCAX

1D
0.31%
1M
5.40%
YTD
11.30%
6M
11.54%
1Y
29.20%
3Y*
22.89%
5Y*
13.77%
10Y*
15.63%

VTI

1D
0.26%
1M
5.37%
YTD
12.01%
6M
12.40%
1Y
30.01%
3Y*
22.37%
5Y*
13.05%
10Y*
15.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VLCAX vs. VTI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VLCAX
Vanguard Large-Cap Index Fund Admiral Shares		11.30%18.09%25.10%27.26%-19.69%27.02%21.03%31.39%-4.49%22.02%
VTI
Vanguard Total Stock Market ETF		12.01%17.10%23.81%26.05%-19.52%25.68%21.08%30.67%-5.23%21.21%

Correlation

The correlation between VLCAX and VTI is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2004

0.99

The correlation between VLCAX and VTI has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

VLCAX vs. VTI - Sectors Allocation Comparison

Sectors
VLCAX
VTI

Technology

35.9%
33.5%

Financial Services

11.8%
12.0%

Communication Services

11.2%
10.3%

Consumer Cyclical

9.8%
10.0%

Healthcare

8.6%
9.2%

Industrials

8.0%
9.8%

Consumer Defensive

4.8%
4.7%

Energy

3.6%
3.7%

Utilities

2.7%
2.3%

Real Estate

1.7%
2.4%

Basic Materials

1.6%
2.0%

Technology

VLCAX
35.9%
VTI
33.5%

Financial Services

VLCAX
11.8%
VTI
12.0%

Communication Services

VLCAX
11.2%
VTI
10.3%

Consumer Cyclical

VLCAX
9.8%
VTI
10.0%

Healthcare

VLCAX
8.6%
VTI
9.2%

Industrials

VLCAX
8.0%
VTI
9.8%

Consumer Defensive

VLCAX
4.8%
VTI
4.7%

Energy

VLCAX
3.6%
VTI
3.7%

Utilities

VLCAX
2.7%
VTI
2.3%

Real Estate

VLCAX
1.7%
VTI
2.4%

Basic Materials

VLCAX
1.6%
VTI
2.0%

Compare stocks, funds, or ETFs

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Vanguard Large-Cap Index Fund Admiral Shares

Vanguard Total Stock Market ETF

Often compared with VLCAX:
VLCAX vs. VFIAXVLCAX vs. VOOVLCAX vs. VIGAXVLCAX vs. VTSAXVLCAX vs. VIVAXVLCAX vs. VIMAXVLCAX vs. SPY
Often compared with VTI:
VTI vs. VOOVTI vs. VXUSVTI vs. SPYVTI vs. VTVTI vs. SCHDVTI vs. FZROXVTI vs. QQQ

Return for Risk

VLCAX vs. VTI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VLCAX
VLCAX Risk / Return Rank: 7171
Overall Rank
VLCAX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VLCAX Sortino Ratio Rank: 6666
Sortino Ratio Rank
VLCAX Omega Ratio Rank: 6666
Omega Ratio Rank
VLCAX Calmar Ratio Rank: 7070
Calmar Ratio Rank
VLCAX Martin Ratio Rank: 7979
Martin Ratio Rank
VTI
VTI Risk / Return Rank: 7474
Overall Rank
VTI Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VTI Sortino Ratio Rank: 7474
Sortino Ratio Rank
VTI Omega Ratio Rank: 7474
Omega Ratio Rank
VTI Calmar Ratio Rank: 6868
Calmar Ratio Rank
VTI Martin Ratio Rank: 8080
Martin Ratio Rank
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.

VLCAX vs. VTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) 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.

VLCAXVTIDifference

Sharpe ratio

Return per unit of total volatility

2.51

2.48

+0.03

Sortino ratio

Return per unit of downside risk

3.40

3.37

+0.03

Omega ratio

Gain probability vs. loss probability

1.45

1.45

+0.01

Calmar ratio

Return relative to maximum drawdown

3.25

3.44

-0.19

Martin ratio

Return relative to average drawdown

14.95

15.88

-0.93

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLCAX vs. VTI - Sharpe Ratio Comparison

The current VLCAX Sharpe Ratio is 2.51, which is comparable to the VTI Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of VLCAX 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.

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Sharpe Ratios by Period

VLCAXVTIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.51

2.48

+0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

0.75

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.83

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.51

+0.07

Drawdowns

VLCAX vs. VTI - Drawdown Comparison

The maximum VLCAX drawdown since its inception was -54.76%, roughly equal to the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for VLCAX and VTI.

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Drawdown Indicators

VLCAXVTIDifference

Max Drawdown

Largest peak-to-trough decline

-54.76%

-55.45%

+0.69%

Max Drawdown (1Y)

Largest decline over 1 year

-9.19%

-8.92%

-0.27%

Max Drawdown (3Y)

Largest decline over 3 years

-19.01%

-19.30%

+0.29%

Max Drawdown (5Y)

Largest decline over 5 years

-25.65%

-25.36%

-0.29%

Max Drawdown (10Y)

Largest decline over 10 years

-33.97%

-35.00%

+1.03%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.86%

-8.03%

+1.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.00%

1.93%

+0.07%

Volatility

VLCAX vs. VTI - Volatility Comparison

Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) and Vanguard Total Stock Market ETF (VTI) have volatilities of 2.80% and 2.86%, 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.

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Volatility by Period

VLCAXVTIDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.80%

2.86%

-0.06%

Volatility (6M)

Calculated over the trailing 6-month period

9.03%

9.11%

-0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

11.95%

12.15%

-0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.16%

17.40%

-0.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.20%

18.30%

-0.10%

VLCAX vs. VTI - Expense Ratio Comparison

VLCAX has a 0.05% 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

VLCAX vs. VTI - Dividend Comparison

VLCAX's dividend yield for the trailing twelve months is around 0.96%, less than VTI's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
VLCAX
Vanguard Large-Cap Index Fund Admiral Shares		0.96%1.08%1.23%1.40%1.66%1.18%1.45%1.80%2.08%1.75%1.98%1.96%
VTI
Vanguard Total Stock Market ETF		1.01%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

With a correlation of 0.99, VLCAX and VTI 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.

VTI has higher volatility (2.86%) compared to VLCAX (2.80%). In terms of maximum drawdown, VLCAX dropped -54.76% vs VTI's -55.45%.

VLCAX currently has the higher Sharpe Ratio (2.51 vs 2.48), 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.

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