VTWNX vs. VTSAX

Last updated Jun 4, 2026

VTWNX (Vanguard Target Retirement 2020 Fund) and VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) are both mutual funds - VTWNX is a Target Retirement Date fund managed by Vanguard, while VTSAX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VTWNX returned 6.81%/yr vs 15.12%/yr for VTSAX. Their correlation of 0.94 suggests significant overlap in exposure. VTWNX charges 0.08%/yr vs 0.04%/yr for VTSAX.

Performance

VTWNX vs. VTSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWNX achieves a 5.10% return, which is significantly lower than VTSAX's 11.98% return. Over the past 10 years, VTWNX has underperformed VTSAX with an annualized return of 6.81%, while VTSAX has yielded a comparatively higher 15.12% annualized return.

VTWNX

• 1D: 0.17%
• 1M: 2.27%
• YTD: 5.10%
• 6M: 5.39%
• 1Y: 13.27%
• 3Y*: 10.58%
• 5Y*: 4.89%
• 10Y*: 6.81%

VTSAX

• 1D: 0.24%
• 1M: 5.76%
• YTD: 11.98%
• 6M: 11.87%
• 1Y: 29.09%
• 3Y*: 22.34%
• 5Y*: 13.04%
• 10Y*: 15.12%

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

VTWNX vs. VTSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWNX Vanguard Target Retirement 2020 Fund	5.10%	12.17%	7.57%	12.71%	-14.17%	8.15%	12.05%	17.64%	-4.23%	11.83%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	11.98%	17.12%	23.23%	26.51%	-19.52%	25.72%	20.98%	30.79%	-5.18%	21.16%

Correlation

The correlation between VTWNX and VTSAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 8, 2006	0.94

The correlation between VTWNX and VTSAX has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

VTWNX vs. VTSAX - Sectors Allocation Comparison

Sectors	VTWNX	VTSAX
Technology	27.4%	33.3%
Financial Services	16.1%	11.9%
Industrials	12.3%	9.5%
Consumer Cyclical	9.4%	9.8%
Healthcare	8.3%	9.1%
Communication Services	8.0%	10.1%
Consumer Defensive	4.8%	4.7%
Energy	4.3%	3.8%
Basic Materials	4.3%	2.0%
Utilities	2.7%	2.7%
Real Estate	2.5%	2.4%

Return for Risk

VTWNX vs. VTSAX — Risk / Return Rank

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

VTWNX

VTWNX Risk / Return Rank: 72
VTWNX Sharpe Ratio Rank: 76
VTWNX Sortino Ratio Rank: 77
VTWNX Omega Ratio Rank: 76
VTWNX Calmar Ratio Rank: 62
VTWNX Martin Ratio Rank: 69

VTSAX

VTSAX Risk / Return Rank: 71
VTSAX Sharpe Ratio Rank: 72
VTSAX Sortino Ratio Rank: 65
VTSAX Omega Ratio Rank: 63
VTSAX Calmar Ratio Rank: 74
VTSAX Martin Ratio Rank: 83

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.

VTWNX vs. VTSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2020 Fund (VTWNX) and Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX). 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.

	VTWNX	VTSAX	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.47	+0.06
Sortino ratio Return per unit of downside risk	3.69	3.36	+0.33
Omega ratio Gain probability vs. loss probability	1.50	1.44	+0.05
Calmar ratio Return relative to maximum drawdown	3.04	3.37	-0.33
Martin ratio Return relative to average drawdown	13.32	15.56	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTWNX vs. VTSAX - Sharpe Ratio Comparison

The current VTWNX Sharpe Ratio is 2.53, which is comparable to the VTSAX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of VTWNX and VTSAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VTWNX	VTSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.47	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.76	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.82	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.47	+0.08

Drawdowns

VTWNX vs. VTSAX - Drawdown Comparison

The maximum VTWNX drawdown since its inception was -42.16%, smaller than the maximum VTSAX drawdown of -55.33%. Use the drawdown chart below to compare losses from any high point for VTWNX and VTSAX.

Drawdown Indicators

	VTWNX	VTSAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-55.33%	+13.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.43%	-8.92%	+4.49%
Max Drawdown (3Y) Largest decline over 3 years	-6.20%	-19.36%	+13.16%
Max Drawdown (5Y) Largest decline over 5 years	-19.38%	-25.36%	+5.98%
Max Drawdown (10Y) Largest decline over 10 years	-19.38%	-34.97%	+15.59%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.80%	-9.01%	+4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.93%	-0.92%

Volatility

VTWNX vs. VTSAX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2020 Fund (VTWNX) is 1.90%, while Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) has a volatility of 2.95%. This indicates that VTWNX experiences smaller price fluctuations and is considered to be less risky than VTSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWNX	VTSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	2.95%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	4.36%	9.19%	-4.83%
Volatility (1Y) Calculated over the trailing 1-year period	5.32%	12.19%	-6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.40%	17.36%	-9.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.28%	18.41%	-10.13%

VTWNX vs. VTSAX - Expense Ratio Comparison

VTWNX has a 0.08% expense ratio, which is higher than VTSAX's 0.04% 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

VTWNX vs. VTSAX - Dividend Comparison

VTWNX's dividend yield for the trailing twelve months is around 7.80%, more than VTSAX's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	1.00%	1.11%	1.26%	1.42%	1.65%	1.20%	1.41%	1.76%	2.03%	1.71%	1.92%	1.98%
VTWNX Vanguard Target Retirement 2020 Fund	7.80%	8.20%	9.35%	6.20%	4.99%	19.57%	6.28%	3.54%	4.94%	0.73%	2.74%	4.15%

Frequently Asked Questions

Can I hold both VTWNX and VTSAX in my portfolio?

VTWNX and VTSAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWNX or VTSAX?

VTSAX has higher volatility (2.95%) compared to VTWNX (1.90%). In terms of maximum drawdown, VTWNX dropped -42.16% vs VTSAX's -55.33%.

Which has better risk-adjusted returns?

VTWNX currently has the higher Sharpe Ratio (2.53 vs 2.47), 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.