VTSAX vs VTI: Returns, Drawdowns and Dividends Since 2016
VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) and VTI (Vanguard Morningstar Total Stock Market ETF) moved almost in lockstep: their daily returns had a correlation of 0.998, where 1 would mean identical. Both returned 14.6% a year with dividends reinvested from January 2016 to November 2026.
With returns this close, the practical difference is the wrapper: VTSAX is a mutual fund that trades once a day at its closing price, while VTI is an ETF that trades all day. Both fell about 35% at their worst, in March 2020.
| Measure | VTSAX | VTI |
|---|---|---|
| Annual return | 14.6% | 14.6% |
| $10,000 grew to | $43,581 | $43,623 |
| Worst decline | −35.0%Mar 2020 | −35.0%Mar 2020 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 18.1% | 18.0% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.72 | 0.73 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 1.0% | 1.0% |
| Best year | +30.8%2019 | +30.7%2019 |
| Worst year | −19.5%2022 | −19.5%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.998 | |
VTSAX: Vanguard Total Stock Market Index Fund Admiral SharesVTI: Vanguard Morningstar Total Stock Market ETF
Jan 4, 2016 to Nov 4, 2026, dividends reinvested.
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Worst declines
VTSAX fell 35.0% from Feb 19, 2020 to Mar 23, 2020 and was back at its high on Aug 12, 2020. VTI fell 35.0% from Feb 19, 2020 to Mar 23, 2020 and was back at its high on Aug 12, 2020.
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Year by year
VTSAX was ahead in 4 of the 11 calendar years.
| Year | VTSAX | VTI | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +13.4% | +13.4% | Even |
| 2025 | +17.1% | +17.1% | Even |
| 2024 | +23.7% | +23.8% | VTI+0.1 |
| 2023 | +26.0% | +26.1% | Even |
| 2022 | −19.5% | −19.5% | Even |
| 2021 | +25.7% | +25.7% | Even |
| 2020 | +21.0% | +21.0% | Even |
| 2019 | +30.8% | +30.7% | VTSAX+0.1 |
| 2018 | −5.2% | −5.2% | Even |
| 2017 | +21.2% | +21.2% | Even |
| 2016 (from Jan 4) | +14.4% | +14.5% | VTI+0.1 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Jan 4, 2016, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 2,474 | VTI58% | Even |
| 3 years | 1,970 | VTI70% | Even |
| 5 years | 1,466 | VTI78% | +0.1 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 27, 2021.
Dividends
Over the past 12 months VTSAX paid 1.0% of its price in dividends and VTI 1.0%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | VTSAX | VTI |
|---|---|---|
| 2026 (to Nov 4) | $1.45 3 payments | $3.00 3 payments |
| 2025 | $1.81 4 payments | $3.76 4 payments |
| 2024 | $1.78 4 payments | $3.67 4 payments |
| 2023 | $1.65 4 payments | $3.41 4 payments |
| 2022 | $1.54 4 payments | $3.18 4 payments |
| 2021 | $1.42 4 payments | $2.93 4 payments |
| 2020 | $1.34 4 payments | $2.77 4 payments |
| 2019 | $1.41 4 payments | $2.90 4 payments |
| 2018 | $1.26 4 payments | $2.60 4 payments |
| 2017 | $1.14 4 payments | $2.34 4 payments |
| 2016 (from Jan 4) | $1.08 4 payments | $2.21 4 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- VTSAX
- Vanguard Total Stock Market Index Fund Admiral Shares, a mutual fund launched Nov 13, 2000. FinLab prices start Jan 4, 2016.
- VTI
- Vanguard Morningstar Total Stock Market ETF, an ETF launched May 24, 2001. FinLab prices start Jan 4, 2016.
- VTI price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 4, 2016 to Nov 4, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.