$10,000 in VTI ten years ago turned into roughly $38,000. The same amount in VOO — the S&P 500 — reached about $39,800. The gap is smaller than most investors expect from a fund holding 3,530+ stocks versus 500.
That near-parity is the point. VTI captures the entire U.S. stock market — large, mid, small, and micro-cap — at 0.03% per year. The 28% of VTI that sits outside the S&P 500 doesn’t always show up in raw returns, but it provides structural coverage that no single large-cap fund can match.
This VTI ETF review breaks down 11 years of returns, sector DNA, risk profile, and the real differences between owning the total market versus owning just the top 500. Every number reflects year-end 2025 data unless noted.
What Is VTI?
The entire U.S. stock market — 3,530+ companies from mega-cap to micro-cap in one ETF.
$589B AUM · 0.03% ER · 1.12% Yield · Quarterly
VTI ETF Review — $10K Growth Test
| Period | $10K Became | CAGR |
|---|---|---|
| 5 Years (2021–2025) | ~$18,500 | ~13.1% |
| 10 Years (2016–2025) | ~$38,000 | ~14.3% |
| Since Inception (2001–2025) | ~$86,000 | ~9.4% |
Approximate values based on total return data. Past performance does not guarantee future results.
$10,000 → 10 Years Later
Gap: ~$1,800 · Large-cap dominance narrowed the total-market edge over this period
The 24-year since-inception CAGR of ~9.4% includes the 2008 financial crisis (-37% that year alone) and the 2022 bear market. Despite both events, $10K still grew roughly 8.6x over the fund’s lifetime.
Over the most recent 10 years, VOO edged out VTI by about $1,800 on a $10K investment. The reason: mega-cap tech stocks dominated returns, and VOO concentrates more weight in the largest companies. VTI’s mid- and small-cap exposure — roughly 28% of the fund — was a drag during this specific window.
Stretch the timeline back to 2001, and the gap narrows. Periods where small- and mid-caps outperformed (2002–2006, 2016, portions of 2021) gave VTI the edge. The total market approach has delivered through two crashes, a pandemic, and multiple rate-hike cycles.
VTI ETF Review — Risk Profile
| Risk Metric | VTI | Context |
|---|---|---|
| Max Drawdown (All-Time) | -55.4% | Mar 2009 (GFC) |
| Worst Calendar Year | -37.0% | 2008 |
| Beta | 1.02 | Essentially the market itself |
| Recovery from GFC Bottom | ~760 trading days | About 3 years to break even |
| 10-Year Avg. Annual Return | ~15.3% | Above historical average |
Source: PortfoliosLab, Yahoo Finance. Max drawdown measured peak-to-trough.
A beta of 1.02 tells you VTI moves almost in lockstep with the broader market. It doesn’t dampen downside like a bond fund, and it doesn’t amplify upside like a leveraged fund. You get close to exactly what the U.S. stock market delivers, for 0.03% per year.
The -55.4% max drawdown during the 2008–2009 financial crisis is the number to internalize before buying. If you had $100,000 in VTI at the peak in October 2007, it dropped to roughly $44,600 by March 2009. Full recovery took about three years.
Investors who held through that period and kept adding money came out well ahead by 2012. Those who sold near the bottom locked in a loss that took the rest of the decade to recoup in a savings account.
VTI ETF Review: Year-by-Year Total Returns (2015–2025)
| Year | VTI Total Return | Context |
|---|---|---|
| 2015 | +0.4% | Flat year; Fed rate hike |
| 2016 | +12.8% | Post-election rally |
| 2017 | +21.2% | Low-volatility surge |
| 2018 | -5.2% | Fed tightening, trade war |
| 2019 | +30.7% | Broad recovery |
| 2020 | +21.0% | COVID crash + rebound |
| 2021 | +25.7% | Stimulus-driven bull run |
| 2022 | -19.5% | Inflation, rate hikes |
| 2023 | +26.1% | AI-driven tech rally |
| 2024 | +23.8% | Broadening market |
| 2025 | +17.1% | Continued bull market |
Source: Yahoo Finance. Total returns include dividends reinvested.
Nine of the last eleven years posted positive returns. The two negative years (2018 and 2022) were followed by immediate recoveries of +30.7% and +26.1%, respectively. That pattern reinforces the case for holding through downturns rather than selling during them.
What VTI Actually Holds
VTI tracks the CRSP US Total Market Index, which represents nearly 100% of the investable U.S. stock market. Large-caps like Apple and Microsoft sit alongside mid-caps, small-caps, and even micro-cap companies most investors have never heard of.
The “total” part matters. VOO holds approximately 500 large-cap stocks. VTI holds 3,530+ across four market-cap tiers:
| Market Cap Tier | VTI Weight | VOO Coverage |
|---|---|---|
| Giant Cap ($200B+) | 40.6% | ✅ Included |
| Large Cap ($10B–$200B) | 31.3% | ✅ Included |
| Mid Cap ($2B–$10B) | 19.5% | ❌ Not in VOO |
| Small / Micro Cap (<$2B) | 8.6% | ❌ Not in VOO |
Roughly 28% of VTI’s portfolio sits in companies that VOO doesn’t touch at all. That 28% includes the mid-cap and small-cap stocks that historically rotate in and out of outperformance cycles against large-caps. For a deeper breakdown, see our VTI vs VOO comparison.
VTI ETF Review — Top 10 Holdings
Even with 3,530+ holdings, VTI is still a cap-weighted fund. The top 10 stocks make up about 35% of total assets:
| Rank | Company | Weight |
|---|---|---|
| 1 | NVIDIA (NVDA) | 7.14% |
| 2 | Apple (AAPL) | 6.13% |
| 3 | Microsoft (MSFT) | 5.88% |
| 4 | Amazon (AMZN) | 3.58% |
| 5 | Broadcom (AVGO) | 2.66% |
| 6 | Alphabet Class A (GOOGL) | 2.50% |
| 7 | Meta Platforms (META) | 2.15% |
| 8 | Alphabet Class C (GOOG) | 1.99% |
| 9 | Tesla (TSLA) | 1.91% |
| 10 | Berkshire Hathaway (BRK.B) | 1.31% |
| Top 10 Total | 35.23% | |
Source: StockAnalysis.com, as of early 2026. Holdings and weights change with market prices.
Three companies alone — NVIDIA, Apple, Microsoft — account for 19.1% of the fund. That level of concentration has increased over the past five years as mega-cap tech companies have grown faster than the rest of the market.
A meaningful decline in any of these three would drag VTI more than the remaining 3,520 holdings could offset in the short term. Compare this to SCHD, where the top 10 holds about 42% but with much smaller individual positions. VTI’s top-heavy structure is a byproduct of cap-weighting, not an intentional design choice.
VTI ETF Review — Sector DNA
Unlike QQQ, which concentrates over 50% in technology, VTI spreads capital across all 11 GICS sectors. Technology still leads, but no single sector dominates to an extreme degree.
| Sector | VTI Weight |
|---|---|
| Information Technology | 32.3% |
| Financials | 13.6% |
| Consumer Discretionary | 10.4% |
| Health Care | 10.3% |
| Communication Services | 9.9% |
| Industrials | 9.6% |
| Consumer Staples | 4.5% |
| Energy | 2.9% |
| Real Estate | 2.3% |
| Utilities | 2.2% |
| Materials | 2.1% |
Source: Charles Schwab / Morningstar. Weights as of late 2025.
Sector Allocation — Visual Breakdown
Technology at 32.3% is notable but not overwhelming. Compare that to QQQ (51%+) or VUG (52%+). The remaining 67.7% distributes meaningfully across financials, healthcare, industrials, and consumer sectors.
When tech rotates down, VTI has more ballast from other sectors than a concentrated growth fund would. That diversification doesn’t show up every year — but in 2022, it limited VTI’s loss to -19.5% while VUG dropped -33.2%.
VTI ETF Review — Dividend & Cost Analysis
VTI pays quarterly dividends with a trailing 12-month yield of approximately 1.12%. The most recent annual payout was $3.76 per share. On a $50,000 position, VTI currently generates roughly $560 per year in dividends before tax.
That yield sits below SCHD (~3.4%) and VYM (~2.7%) because VTI holds many growth-oriented companies that pay minimal or zero dividends. Dividend growth has been consistent — VTI’s payout has increased for 4 consecutive years, averaging around 4–6% annually.
At 0.03% expense ratio, VTI costs $3 per year for every $10,000 invested. That matches VOO (0.03%), making them the cheapest broad-market U.S. equity ETFs available. On a $100,000 investment held for 30 years, total fees add up to roughly $900 — assuming no growth. Factor in compounding, and the fee drag stays minimal regardless of the holding period.
VTI’s main competitors on cost: ITOT (iShares Core S&P Total U.S. Stock Market, 0.03%) and SPTM (SPDR Portfolio S&P 1500, 0.03%). All three charge the same fee. VTI leads on AUM ($589B) and liquidity by a wide margin. You can verify VTI’s current fee structure through SEC filings.
Who Should Buy, Consider, or Skip VTI?
Want one ETF covering the entire U.S. stock market — large, mid, small, and micro-cap — at 0.03%. VTI works as a standalone core holding or the U.S. equity leg of a multi-fund portfolio with no market-cap gaps.
VTI yields ~1.1%, which won’t fund a retirement income stream alone. Some investors pair it with SCHD or VYM for dividend income while keeping VTI as the growth engine.
VTI holds 99.4% U.S. stocks. For international diversification, you need to add VXUS or choose VT (Vanguard Total World Stock ETF). New to ETFs? See our beginner ETF guide.
VTI vs VOO — Quick Comparison
No VTI ETF review is complete without the VOO comparison. Over the past 10 years, the two have delivered nearly identical returns — but the structural differences matter in specific market conditions.
| Feature | VTI | VOO |
|---|---|---|
| Index | CRSP US Total Market | S&P 500 |
| Holdings | ~3,530 | ~500 |
| Expense Ratio | 0.03% | 0.03% |
| Mid/Small-Cap Exposure | 28% | 0% |
| 10-Year $10K Growth | ~$38,000 | ~$39,800 |
| Dividend Yield | ~1.12% | ~1.3% |
When small-cap and mid-cap stocks outperform large-caps (as they did in 2016 and portions of 2021), VTI captures that rotation. VOO misses it entirely. When mega-cap tech dominates (2023–2024), VOO slightly outperforms because it concentrates more weight in the largest companies.
The practical difference for most investors is small. If you want maximum simplicity with zero concern about market-cap gaps, VTI is the single-fund answer. If you want the pure S&P 500 track record, VOO is the choice. Both charge 0.03%. Neither is wrong. The full VTI vs VOO analysis digs into the data more granularly.
The Total Market Verdict
VTI Fund Specs — Quick Reference
| Metric | Detail |
|---|---|
| Full Name | Vanguard Total Stock Market ETF |
| Index Tracked | CRSP US Total Market Index |
| Expense Ratio | 0.03% ($3 per $10,000/year) |
| AUM | ~$589 billion |
| Holdings | ~3,530 stocks |
| Dividend Yield | 1.12% ($3.76/share) |
| Inception Date | May 24, 2001 |
| Issuer | Vanguard |
| Share Price | ~$337 (Feb 2026)* |
| P/E Ratio | 26–28 |
*Share price as of mid-February 2026. Check Yahoo Finance for the latest VTI quote. Fractional shares available at most brokerages.
The VTI ETF is Vanguard’s total stock market fund — designed to own nearly every publicly traded U.S. company in a single ticker. It tracks the CRSP US Total Market Index using a sampling strategy that closely approximates the full index while keeping costs at 0.03%.
Frequently Asked Questions
This VTI ETF review covers the most common questions investors ask about the fund:
Is VTI a good long-term investment?
VTI has delivered a since-inception CAGR of approximately 9.4% over 24 years, including the 2008 financial crisis and 2022 bear market. It holds 3,530+ stocks at a 0.03% expense ratio, making it one of the lowest-cost ways to own the entire U.S. stock market.
For investors with a 10+ year horizon, VTI’s historical track record has been strong. The fund recovered from every major downturn within a few years.
What is the difference between VTI and VOO?
VOO tracks the S&P 500 (~500 large-cap stocks). VTI tracks the CRSP US Total Market Index (~3,530+ stocks across all market caps). Both charge 0.03%. VTI includes approximately 28% of its portfolio in mid-cap and small-cap stocks that VOO does not hold. Over 10 years, total returns have been very similar. See the full VTI vs VOO comparison.
Does VTI pay dividends?
Yes. VTI pays quarterly dividends with a trailing 12-month yield of approximately 1.12% ($3.76 per share). That yield reflects a blend of high-yield value stocks and low-yield or zero-dividend growth companies across the total market. VTI’s payout has increased for 4 consecutive years.
Is VTI good for a Roth IRA?
VTI’s broad market exposure, tax-efficient index structure, and 0.03% expense ratio make it well-suited for tax-sheltered long-term growth. In a Roth IRA, VTI’s dividends and capital gains grow tax-free, maximizing the compounding effect over decades.
How many stocks does VTI hold?
VTI currently holds approximately 3,530 stocks. The CRSP US Total Market Index it tracks covers nearly 4,000 securities, but VTI uses a sampling strategy to approximate the full index. This approach keeps costs low while closely matching the index’s returns.
Can I build a complete portfolio with just VTI?
VTI covers the entire U.S. stock market but nothing else. A diversified portfolio typically adds international stocks (VXUS or VT) and bonds (BND or BNDX). The classic 3-fund portfolio combines VTI + VXUS + BND. VTI alone gives you U.S. equity exposure, but you’d be missing roughly 40% of global stock market capitalization.
This article is for informational purposes only and does not constitute investment advice. Always do your own research or consult a licensed financial advisor before making investment decisions.