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VTSAX vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VTSAX vs. SPY

Last updated Aug 4, 2026
Documentation

VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) and SPY (State Street SPDR S&P 500 ETF) are both funds - VTSAX is a Large Cap Blend Equities fund managed by Vanguard, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, VTSAX returned 14.62%/yr vs 15.09%/yr for SPY. Their 0.98 correlation means they have historically moved very closely together. VTSAX charges 0.04%/yr vs 0.09%/yr for SPY.

Performance

VTSAX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VTSAX achieves a 10.50% return, which is significantly lower than SPY's 11.70% return. Both investments have delivered pretty close results over the past 10 years, with VTSAX having a 14.62% annualized return and SPY not far ahead at 15.09%.

VTSAX

1D
0.57%
1M
-0.21%
6M
8.16%
YTD
10.50%
1Y
21.79%
3Y*
18.92%
5Y*
11.73%
10Y*
14.62%
ALL TIME*
9.03%

SPY

1D
1.42%
1M
1.73%
6M
9.53%
YTD
11.70%
1Y
23.22%
3Y*
20.74%
5Y*
13.05%
10Y*
15.09%
ALL TIME*
10.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SPY

State Street SPDR S&P 500 ETF
$38.19B$36.17B$39.59B

VTSAX

Vanguard Total Stock Market Index Fund Admiral Shares
$0.00$0.00$0.00

VTSAX vs. SPY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VTSAX
Vanguard Total Stock Market Index Fund Admiral Shares		10.50%17.12%23.23%26.51%-19.52%25.72%20.98%30.79%-5.18%21.16%
SPY
State Street SPDR S&P 500 ETF		11.70%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between VTSAX and SPY is 0.99 - 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.

0.99

Correlation (3Y)
Balances recent behavior with more history.

0.99

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.99

Correlation (10Y)
Provides a long-term view across more market conditions.

0.99

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2000

0.98

The correlation between VTSAX and SPY has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

VTSAX vs. SPY - Sectors Allocation Comparison

Sectors
VTSAX
SPY

Technology

36.1%
36.9%

Financial Services

11.8%
12.5%

Industrials

10.2%
7.6%

Healthcare

9.7%
9.4%

Consumer Cyclical

9.4%
8.9%

Communication Services

9.1%
9.7%

Consumer Defensive

4.3%
4.8%

Energy

3.2%
3.4%

Real Estate

2.3%
2.0%

Utilities

2.2%
2.6%

Basic Materials

1.9%
1.9%

Technology

VTSAX
36.1%
SPY
36.9%

Financial Services

VTSAX
11.8%
SPY
12.5%

Industrials

VTSAX
10.2%
SPY
7.6%

Healthcare

VTSAX
9.7%
SPY
9.4%

Consumer Cyclical

VTSAX
9.4%
SPY
8.9%

Communication Services

VTSAX
9.1%
SPY
9.7%

Consumer Defensive

VTSAX
4.3%
SPY
4.8%

Energy

VTSAX
3.2%
SPY
3.4%

Real Estate

VTSAX
2.3%
SPY
2.0%

Utilities

VTSAX
2.2%
SPY
2.6%

Basic Materials

VTSAX
1.9%
SPY
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Total Stock Market Index Fund Admiral Shares

State Street SPDR S&P 500 ETF

Often compared with VTSAX:
VTSAX vs. VOOVTSAX vs. VTIAXVTSAX vs. SWTSXVTSAX vs. VTIVTSAX vs. FSKAXVTSAX vs. VTWAXVTSAX vs. VBTLX
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

VTSAX vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VTSAX
VTSAX Risk / Return Rank: 5959
Overall Rank
VTSAX Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
VTSAX Sortino Ratio Rank: 5151
Sortino Ratio Rank
VTSAX Omega Ratio Rank: 5151
Omega Ratio Rank
VTSAX Calmar Ratio Rank: 6262
Calmar Ratio Rank
VTSAX Martin Ratio Rank: 7575
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7878
Overall Rank
SPY Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 7777
Sortino Ratio Rank
SPY Omega Ratio Rank: 7777
Omega Ratio Rank
SPY Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPY Martin Ratio Rank: 8383
Martin Ratio Rank
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.

VTSAX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) and State Street SPDR S&P 500 ETF (SPY). 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.

VTSAXSPYDifference
Sharpe ratioReturn per unit of total volatility
1.51
1.82

-0.30

Sortino ratioReturn per unit of downside risk
2.11
2.50

-0.39

Omega ratioGain probability vs. loss probability

1.27

1.32

-0.05

Calmar ratioReturn relative to maximum drawdown

2.23

2.62

-0.40

Martin ratioReturn relative to average drawdown

9.63

11.20

-1.56

VTSAX vs. SPY - Sharpe Ratio Comparison

The current VTSAX Sharpe Ratio is 1.51, which is comparable to the SPY Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of VTSAX and SPY, 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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Drawdowns

VTSAX vs. SPY - Drawdown Comparison

The maximum VTSAX drawdown since its inception was -55.33%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VTSAX and SPY.

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Drawdown Indicators

VTSAXSPYDifference

Max Drawdown

Largest peak-to-trough decline

-55.33%

-55.19%

-0.14%

Max Drawdown (1Y)

Largest decline over 1 year

-8.92%

-8.88%

-0.04%

Max Drawdown (3Y)

Largest decline over 3 years

-19.36%

-18.76%

-0.60%

Max Drawdown (5Y)

Largest decline over 5 years

-25.36%

-24.50%

-0.86%

Max Drawdown (10Y)

Largest decline over 10 years

-34.97%

-33.72%

-1.25%

Current Drawdown

Current decline from peak

-1.32%

0.00%

-1.32%

Average Drawdown

Average peak-to-trough decline

-8.96%

-9.01%

+0.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.06%

2.08%

-0.02%

Volatility

VTSAX vs. SPY - Volatility Comparison

The current volatility for Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) is 3.46%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 3.84%. This indicates that VTSAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VTSAXSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.46%

3.84%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

10.28%

10.23%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

13.14%

12.87%

+0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.46%

17.19%

+0.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.41%

17.96%

+0.45%

VTSAX vs. SPY - Expense Ratio Comparison

VTSAX has a 0.04% expense ratio, which is lower than SPY's 0.09% 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

VTSAX vs. SPY - Dividend Comparison

VTSAX's dividend yield for the trailing twelve months is around 1.05%, more than SPY's 0.99% yield.

PositionTTM20252024202320222021202020192018201720162015
SPY
State Street SPDR S&P 500 ETF		0.99%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%
VTSAX
Vanguard Total Stock Market Index Fund Admiral Shares		1.05%1.11%1.26%1.42%1.65%1.20%1.41%1.76%2.03%1.71%1.92%1.98%

Frequently Asked Questions

With a correlation of 0.99, VTSAX and SPY 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.

SPY has higher volatility (3.84%) compared to VTSAX (3.46%). In terms of maximum drawdown, VTSAX dropped -55.33% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (1.82 vs 1.51), 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.

Portfolio Optimizer

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