Side-by-Side Comparison
| Metric | VTSAX | VTI |
|---|---|---|
| Type | Mutual Fund | ETF |
| Expense Ratio | 4.00% | 3.00% |
| Holdings | 3,645 | 3,645 |
| Dividend Yield | 1.28% | 1.28% |
| Min Investment | $3,000 | None |
| Inception | 2000-11-13 | 2001-05-24 |
| Index Tracked | CRSP US Total Market Index | CRSP US Total Market Index |
| AUM | $369B | $427B |
Fund data last updated: 2025-01-02. Expense ratios, holdings, and yields may change. Always verify with official sources.
Key Differences
- •VTSAX is a mutual fund; VTI is an ETF
- •VTSAX has a $3,000 minimum; VTI has no minimum
- •VTI has a slightly lower expense ratio (0.03% vs 0.04%)
- •ETFs (VTI) are slightly more tax-efficient due to in-kind redemptions
Which Should You Choose?
Taxable Brokerage Account
VTI has a slight edge due to lower expense ratio and better tax efficiency. However, the difference is minimal.
IRA (Traditional or Roth)
Either works perfectly. VTSAX is convenient for automatic investments; VTI for fractional share buying if your broker supports it.
401(k)
VTSAX is more commonly available in 401(k) plans. Use whichever your plan offers.
JL Collins' Recommendation
JL Collins specifically recommends VTSAX in his book because automatic investing with mutual funds is simpler. However, he notes VTI is the same thing in ETF form—choose based on what works best for your broker and investment style.
Frequently Asked Questions
Are VTSAX and VTI the same thing?
Yes and no. They track the identical index (CRSP US Total Market) and hold the same stocks. The difference is the structure: VTSAX is a mutual fund, VTI is an ETF. Performance is virtually identical.
Why does VTSAX have a higher expense ratio than VTI?
ETFs are generally cheaper to administer than mutual funds. The 0.01% difference is negligible—on a $100,000 portfolio, it's $10/year. Both are among the cheapest investment options available.
Can I convert VTSAX to VTI?
Yes, at Vanguard you can convert VTSAX to VTI (and vice versa) tax-free. This is called a 'conversion' and doesn't trigger a taxable event. This is unique to Vanguard's patent on ETF share classes.
Which is better for automatic investing?
VTSAX (mutual fund) is traditionally easier for automatic investing because you can invest exact dollar amounts. However, many brokers now offer fractional ETF shares, making VTI equally convenient.
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