VTI vs. VTIVX

Last updated Jun 13, 2026

VTI (Vanguard Total Stock Market ETF) and VTIVX (Vanguard Target Retirement 2045 Fund) are both funds - VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, VTI returned 15.02%/yr vs 11.31%/yr for VTIVX. With a 0.97 correlation, they move nearly in lockstep. VTI charges 0.03%/yr vs 0.08%/yr for VTIVX.

Performance

VTI vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market ETF (VTI) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTI achieves a 9.62% return, which is significantly higher than VTIVX's 8.87% return. Over the past 10 years, VTI has outperformed VTIVX with an annualized return of 15.02%, while VTIVX has yielded a comparatively lower 11.31% annualized return.

VTI

• 1D: 0.57%
• 1M: 0.45%
• YTD: 9.62%
• 6M: 9.69%
• 1Y: 24.78%
• 3Y*: 20.60%
• 5Y*: 12.20%
• 10Y*: 15.02%

VTIVX

• 1D: 2.05%
• 1M: 0.08%
• YTD: 8.87%
• 6M: 9.59%
• 1Y: 21.67%
• 3Y*: 17.25%
• 5Y*: 8.91%
• 10Y*: 11.31%

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

VTI vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTI Vanguard Total Stock Market ETF	9.62%	17.10%	23.81%	26.05%	-19.52%	25.68%	21.08%	30.67%	-5.23%	21.21%
VTIVX Vanguard Target Retirement 2045 Fund	8.87%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between VTI and VTIVX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 27, 2003	0.97

The correlation between VTI and VTIVX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

VTI vs. VTIVX - Sectors Allocation Comparison

Sectors	VTI	VTIVX
Technology	33.5%	27.4%
Financial Services	12.0%	16.1%
Communication Services	10.3%	8.0%
Consumer Cyclical	10.0%	9.4%
Industrials	9.8%	12.3%
Healthcare	9.2%	8.3%
Consumer Defensive	4.7%	4.8%
Energy	3.7%	4.3%
Real Estate	2.4%	2.5%
Utilities	2.3%	2.7%
Basic Materials	2.0%	4.3%

Return for Risk

VTI vs. VTIVX — Risk / Return Rank

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

VTI

VTI Risk / Return Rank: 70
VTI Sharpe Ratio Rank: 70
VTI Sortino Ratio Rank: 68
VTI Omega Ratio Rank: 69
VTI Calmar Ratio Rank: 64
VTI Martin Ratio Rank: 76

VTIVX

VTIVX Risk / Return Rank: 73
VTIVX Sharpe Ratio Rank: 74
VTIVX Sortino Ratio Rank: 71
VTIVX Omega Ratio Rank: 71
VTIVX Calmar Ratio Rank: 72
VTIVX Martin Ratio Rank: 79

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.

VTI vs. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market ETF (VTI) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	VTI	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.01	-0.04
Sortino ratio: Return per unit of downside risk	2.67	2.77	-0.10
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	2.79	2.68	+0.11
Martin ratio: Return relative to average drawdown	12.52	11.59	+0.93

VTI vs. VTIVX - Sharpe Ratio Comparison

The current VTI Sharpe Ratio is 1.97, which is comparable to the VTIVX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of VTI and VTIVX, 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

VTI vs. VTIVX - Drawdown Comparison

The maximum VTI drawdown since its inception was -55.45%, which is greater than VTIVX's maximum drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for VTI and VTIVX.

Drawdown Indicators

	VTI	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-55.45%	-51.69%	-3.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-8.30%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-13.40%	-5.90%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-25.10%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.00%	-31.42%	-3.58%
Current Drawdown Current decline from peak	-2.14%	-2.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-8.02%	-6.33%	-1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.92%	+0.07%

Volatility

VTI vs. VTIVX - Volatility Comparison

Vanguard Total Stock Market ETF (VTI) and Vanguard Target Retirement 2045 Fund (VTIVX) have volatilities of 4.50% and 4.51%, 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

	VTI	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.51%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	9.13%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	11.10%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	13.58%	+3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	14.82%	+3.51%

VTI vs. VTIVX - Expense Ratio Comparison

VTI has a 0.03% expense ratio, which is lower than VTIVX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VTI vs. VTIVX - Dividend Comparison

VTI's dividend yield for the trailing twelve months is around 1.03%, less than VTIVX's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTI Vanguard Total Stock Market ETF	1.03%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%
VTIVX Vanguard Target Retirement 2045 Fund	2.29%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both VTI and VTIVX in my portfolio?

With a correlation of 0.96, VTI and VTIVX 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, VTI or VTIVX?

VTIVX has higher volatility (4.51%) compared to VTI (4.50%). In terms of maximum drawdown, VTI dropped -55.45% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.01 vs 1.97), 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.