ETF Evaluator:
Vanguard Morn Total Stk Mkt ETF (VTI)
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(as of Aug 19)
Best Performing in Large Blend Over the Last Year
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ETF Details
Vanguard Morn Total Stk Mkt ETF Overview
Vanguard Morn Total Stk Mkt ETF (VTI) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). Vanguard launched the ETF in 2001.
The investment seeks to track the performance of the CRSP U.S. Total Market Index that measures the investment return of the overall stock market.
The fund manager employs an indexing investment approach designed to track the performance of the CRSP U.S. Total Market Index (the “Target Index”), which represents 100% of the investable U.S. stock market, as determined by the index provider. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the target index.
About Vanguard Morn Total Stk Mkt ETF (VTI)
There are 3 members of the management team with an average tenure of 5.06 years: Walter Nejman (2016), Michelle Louie (2023) and Nick Birkett (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Morningstar US Total Market TR USD index with a weighting of 100% and DJ US Total Stock Market TR USD index with a weighting of 100%. Vanguard Morn Total Stk Mkt ETF has 3542 securities in its portfolio. The top 10 holdings constitute 31.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Vanguard Morn Total Stk Mkt ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Vanguard Morn Total Stk Mkt ETF has 0.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.7% There is 0.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Vanguard Morn Total Stk Mkt ETF has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $665 billion in total assets, which is above the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
VTI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard Morn Total Stk Mkt ETF expense ratio is low compared to funds in the Large Blend category. Vanguard Morn Total Stk Mkt ETF has an expense ratio of 0.03%, which is 93% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard Morn Total Stk Mkt ETF has a portfolio turnover rate of 3%, which indicates that it holds its assets around / 0.3 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Vanguard Morn Total Stk Mkt ETF returned -0.5%, which earned it a grade of D, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Vanguard Morn Total Stk Mkt ETF has a trailing yield of 1.06%, which is below the 1.16% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard Morn Total Stk Mkt ETF Grades
Year to date, the ETF has returned 10.5%, 1.0 percentage points better than the category, which translates into a grade of B. The fund has returned 19.8% over the past year (grade of B), 18.8% over the past three years (grade of C) and 11.8% per year over the past five years (grade of C) and 14.5% per year over the past 10 years (grade of B).
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VTI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VTI Return (NAV) | -0.5% | 4.3% | 19.8% | 18.8% | 11.8% | 14.5% |
| VTI Return (Price) | -0.5% | 4.3% | 19.8% | 18.8% | 11.7% | 14.5% |
| NAV +/- Price Return | -0.016% | 0.014% | -0.026% | 0.005% | 0.003% | 0.002% |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| VTI Grade (NAV) | D | C | B | C | C | B |
| +/- Category (NAV) | 0.3% | 0.5% | 2.3% | 1.4% | 0.6% | 0.9% |
| VTI Tax-Cost Ratio | na | na | 0.3% | 0.4% | 0.4% | 0.5% |
VTI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VTI Return (NAV) | 10.5% | 17.1% | 23.7% | 26.0% | -19.5% | 25.7% | 20.9% | 30.8% | -5.1% | 21.2% | 12.7% |
| VTI Return (Price) | 10.5% | 17.1% | 23.8% | 26.1% | -19.5% | 25.7% | 21.0% | 30.7% | -5.2% | 21.2% | 12.8% |
| NAV +/- Price Ret | -0.001% | -0.002% | 0.003% | 0.001% | 0.000% | -0.002% | 0.004% | -0.4% | 1.6% | 0.3% | 1.2% |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| VTI Grade (NAV) | B | B | C | B | D | D | B | C | C | D | B |
| +/- Category | 1.0% | 1.8% | 1.9% | 3.2% | -2.4% | -1.2% | 2.6% | 1.2% | 0.0% | -0.4% | 1.3% |
| Risk Measures | |
| Beta: | 1.03 |
| R-Squared: | 99% |
| Standard Deviation: | 13.5% |
| Category Risk Index: | 1.00 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.10 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.1% |
| Total Assets: | $ 2,300,101 Mil |
| Share Class Assets: | $ 665,277 Mil |
| Turnover: | 3.0% |
| Expense Ratio: | 0.03% |
| Index Fund: | Yes |
| Index Tracked: | Morningstar US Total Market TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.3 years | |||
| Average Tenure: 5.1 years | |||
| Managers (Year): Nejman Walter (2016), Louie Michelle (2023), Birkett Nick (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 3542 |
| % in Top 10 Holdings: | 31.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.6% |
Portfolio Allocation |
|
| Domestic Stock: | 98.7% |
| Foreign Stock: | 0.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 0.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Vanguard |
| Phone Number: | 866-499-8473 |
| Website: | www.vanguard.com |
| Inception Date: | May 24, 2001 |
Expenses and Fees
| Expense Ratio (%): | 0.03% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
