VTMNX vs. VTSNX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Developed Markets Index Fund Institutional Shares (VTMNX) and Vanguard Total International Stock Index Fund Institutional Shares (VTSNX).

VTMNX is managed by Vanguard. It was launched on Jan 4, 2001. VTSNX is managed by Vanguard. It was launched on Nov 29, 2010.

Performance

VTMNX vs. VTSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Developed Markets Index Fund Institutional Shares (VTMNX) and Vanguard Total International Stock Index Fund Institutional Shares (VTSNX). The values are adjusted to include any dividend payments, if applicable.

VTMNX vs. VTSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTMNX Vanguard Developed Markets Index Fund Institutional Shares	2.51%	35.16%	2.99%	17.82%	-15.36%	11.40%	10.26%	22.13%	-14.51%	26.45%
VTSNX Vanguard Total International Stock Index Fund Institutional Shares	1.74%	32.24%	5.38%	15.29%	-15.99%	8.64%	11.27%	21.69%	-14.41%	27.54%

Returns By Period

In the year-to-date period, VTMNX achieves a 2.51% return, which is significantly higher than VTSNX's 1.74% return. Over the past 10 years, VTMNX has outperformed VTSNX with an annualized return of 9.33%, while VTSNX has yielded a comparatively lower 8.85% annualized return.

VTMNX

• 1D: 3.01%
• 1M: -7.60%
• YTD: 2.51%
• 6M: 7.79%
• 1Y: 29.26%
• 3Y*: 15.97%
• 5Y*: 8.53%
• 10Y*: 9.33%

VTSNX

• 1D: 2.80%
• 1M: -7.28%
• YTD: 1.74%
• 6M: 5.73%
• 1Y: 27.11%
• 3Y*: 15.29%
• 5Y*: 7.23%
• 10Y*: 8.85%

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

VTMNX vs. VTSNX - Expense Ratio Comparison

VTMNX has a 0.05% expense ratio, which is lower than VTSNX'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%.

VTSNX

Vanguard Total International Stock Index Fund Institutional Shares

VTMNX

Vanguard Developed Markets Index Fund Institutional Shares

Return for Risk

VTMNX vs. VTSNX — Risk / Return Rank

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

VTMNX

VTMNX Risk / Return Rank: 87
VTMNX Sharpe Ratio Rank: 88
VTMNX Sortino Ratio Rank: 86
VTMNX Omega Ratio Rank: 84
VTMNX Calmar Ratio Rank: 88
VTMNX Martin Ratio Rank: 88

VTSNX

VTSNX Risk / Return Rank: 86
VTSNX Sharpe Ratio Rank: 87
VTSNX Sortino Ratio Rank: 86
VTSNX Omega Ratio Rank: 84
VTSNX Calmar Ratio Rank: 88
VTSNX Martin Ratio Rank: 86

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.

VTMNX vs. VTSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Institutional Shares (VTMNX) and Vanguard Total International Stock Index Fund Institutional Shares (VTSNX). 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.

	VTMNX	VTSNX	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.76	+0.03
Sortino ratio Return per unit of downside risk	2.35	2.32	+0.03
Omega ratio Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio Return relative to maximum drawdown	2.44	2.35	+0.08
Martin ratio Return relative to average drawdown	9.58	9.23	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTMNX vs. VTSNX - Sharpe Ratio Comparison

The current VTMNX Sharpe Ratio is 1.79, which is comparable to the VTSNX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of VTMNX and VTSNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VTMNX	VTSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.76	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.49	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.56	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.37	-0.08

Correlation

The correlation between VTMNX and VTSNX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VTMNX vs. VTSNX - Dividend Comparison

VTMNX's dividend yield for the trailing twelve months is around 2.94%, less than VTSNX's 2.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTMNX Vanguard Developed Markets Index Fund Institutional Shares	2.94%	3.22%	3.36%	3.15%	2.91%	3.16%	2.04%	3.05%	3.35%	2.77%	3.06%	2.92%
VTSNX Vanguard Total International Stock Index Fund Institutional Shares	2.98%	3.17%	3.36%	3.24%	3.08%	3.08%	2.13%	3.16%	3.19%	2.75%	2.95%	2.86%

Drawdowns

VTMNX vs. VTSNX - Drawdown Comparison

The maximum VTMNX drawdown since its inception was -60.57%, which is greater than VTSNX's maximum drawdown of -35.72%. Use the drawdown chart below to compare losses from any high point for VTMNX and VTSNX.

Drawdown Indicators

	VTMNX	VTSNX	Difference
Max Drawdown Largest peak-to-trough decline	-60.57%	-35.72%	-24.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-11.29%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-29.55%	-0.16%
Max Drawdown (10Y) Largest decline over 10 years	-35.60%	-35.72%	+0.12%
Current Drawdown Current decline from peak	-8.99%	-8.81%	-0.18%
Average Drawdown Average peak-to-trough decline	-13.29%	-8.16%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.88%	+0.09%

Volatility

VTMNX vs. VTSNX - Volatility Comparison

Vanguard Developed Markets Index Fund Institutional Shares (VTMNX) and Vanguard Total International Stock Index Fund Institutional Shares (VTSNX) have volatilities of 7.85% and 7.48%, 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

	VTMNX	VTSNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.85%	7.48%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.30%	10.82%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.70%	15.73%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	14.84%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	15.85%	+0.57%