What is an expense ratio?

An expense ratio is the annual fee charged by a fund to cover its operating costs, expressed as a percentage of the assets invested. Both the Vanguard Total Stock Market ETF and the Vanguard Value ETF have an expense ratio of 0.03%. This low cost helps maximise the amount of return retained for investors. For a £10,000 investment, this equates to just £3 per year. These fees are automatically deducted from the fund's assets.

What is the difference between VTI and VTV?

The Vanguard Total Stock Market ETF tracks the entire US stock market, offering broad exposure across large, mid, and small-cap companies. In contrast, the Vanguard Value ETF specifically targets large-cap value stocks. While the first fund provides a wide, market-capitalisation-weighted snapshot of the American equity landscape, the second focuses on companies deemed undervalued relative to their fundamentals. This distinction means VTI holds more growth-oriented tech leaders, whereas VTV leans towards established, value-focused sectors.

Why do ETFs hold so many stocks?

ETFs hold many stocks to replicate a specific index and provide diversification. By owning hundreds of companies, the fund reduces the impact of any single stock's poor performance. The Vanguard Total Stock Market ETF, with net assets of $692.2 billion, holds nearly every publicly traded US company. Similarly, the Vanguard Value ETF holds numerous value stocks, balancing individual risk across a diversified portfolio. This structure provides broad exposure without requiring investors to buy each stock individually.

How important are the top holdings?

Top holdings indicate where a fund's largest investments lie. For the Vanguard Total Stock Market ETF, the top ten are dominated by mega-cap growth stocks like Nvidia and Apple. Conversely, the Vanguard Value ETF's top ten include financials like JPMorgan and energy stocks like ExxonMobil. Both funds share only one top-ten holding: Micron Technology. This shows that while the first fund reflects the whole market, the second concentrates on specific large companies considered undervalued.

What are sector weights and why do they matter?

Sector weights show how a fund's assets are distributed across industries like technology, healthcare, or energy. This breakdown helps investors understand which industries drive the fund's performance. However, the specific sector weight data for both the Vanguard Total Stock Market ETF and the Vanguard Value ETF is currently not available. Investors should monitor these changes, as shifts in sector allocation can affect volatility and returns. This data helps clarify the fund's exposure to particular economic themes over time.

How do dividend yields differ between these funds?

The dividend yield represents the annual income paid by the fund relative to its share price. The Vanguard Total Stock Market ETF has a yield of 1.02%, while the Vanguard Value ETF has a higher yield of 1.85%. Value stocks often pay larger dividends as they are typically mature companies with stable cash flows. Growth-heavy funds like the first option reinvest more profits. These yields fluctuate with share prices and dividend announcements, offering different income profiles for investors.

How does the index tracked by these funds affect their performance?

Both Vanguard ETFs track different indices. The Vanguard Total Stock Market ETF tracks the total US stock market, while the Vanguard Value ETF focuses on large-cap value stocks. The specific indexes are not named in the provided data. This difference in tracking means their performance will vary depending on market conditions. When value stocks outperform growth, the second fund may do better. Conversely, a growth-driven market would likely see the first fund perform stronger.

Why is liquidity important for ETFs?

Liquidity is crucial for ETFs as it allows investors to buy or sell shares quickly and at stable prices. Both the Vanguard Total Stock Market ETF and the Vanguard Value ETF exhibit very high liquidity, indicated by their significant net assets. VTI holds $692.2 billion, and VTV holds $191.1 billion. This substantial size ensures that trading these funds generally results in low bid-ask spreads, providing investors with efficient access to these large-cap equity markets without significant transaction costs.

What is the significance of a fund's inception date?

The inception date shows how long a fund has been operating, which can provide historical performance data. The Vanguard Total Stock Market ETF launched in May 2001, offering nearly two decades of history. The Vanguard Value ETF started later, in January 2004. Longer operating histories are generally preferred because they include performance across various market cycles. However, both dates show established funds with a solid track record in their respective categories for investors.

Can I hold both VTI and VTV in the same portfolio?

Yes, you can hold both VTI and VTV in the same portfolio, as they offer different exposures. VTI provides a broad market snapshot, while VTV tilts towards large-cap value stocks. Since their top ten holdings only share Micron Technology, the overlap is minimal. This diversification strategy might help balance growth and value factors. However, you should review your overall asset allocation to ensure these funds align with your investment goals and risk tolerance.

How do these funds' net assets impact investors?

Net assets, or assets under management, indicate a fund's size. Both funds hold substantial assets, with VTI at $692.2 billion and VTV at $191.1 billion. Large asset bases typically ensure funds remain open and well-diversified, providing stability. Smaller funds risk liquidation. While VTV is significantly smaller than VTI, it still offers ample scale for most retail investors. Larger funds may also benefit from economies of scale, though both share an equally low expense ratio.

What risks are associated with investing in VTI and VTV?

Investing in the Vanguard Total Stock Market ETF and Vanguard Value ETF involves market risk. Since both funds focus on US equities, their value can fluctuate with economic conditions. VTI offers broader diversification but remains concentrated in US markets. VTV's specific large-cap value focus could underperform during periods where growth stocks dominate. Investors should diversify their portfolios across different asset classes and consider factors like interest rate changes and inflation that might impact equity returns.

VTI vs VTV

Two funds, one decision: we compare cost, performance and what each ETF actually holds in November 2026.

Compare the Vanguard Total Stock Market ETF (VTI) and the Vanguard Value ETF (VTV). Both funds charge an expense ratio of 0.03%. VTI offers broad exposure to the total US market, while VTV focuses on large-cap value stocks with a dividend yield of 1.85%. This page examines fees, holdings, dividends, and how each tracks its respective market. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

VTI

Metric

VTV

0.03%

Expense Ratio

0.03%

1.02%

Dividend Yield

1.85%

$692.20B

Net Assets

$191.07B

3,514

Holdings

319

May 24, 2001

Inception Date

Jan 26, 2004

–

Index Tracked

–

Large Blend

Fund Category

Large Value

Both funds charge the same annual fee.

Shared Top Holdings

Holding	VTI	VTV
MUMicron Technology, Inc.	1.46%	3.94%

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Investment Analysis

VTI

Pros

Extensive net assets of $692.2 billion suggest very strong liquidity and scale efficiencies for investors.
Large blend category indicates significant market capitalisation exposure and likely broad sector diversification.
Low expense ratio of 0.03% is competitive for large-cap equity portfolios.

Considerations

Net asset value is not disclosed in the available fund information.
Top ten holdings are concentrated but do not include defensive value shares.
Dividend yield of 1.02% is lower than some other equity options in this category.

VTV

Pros

Large value focus provides an exposure tilt away from growth shares.
Moderately higher dividend yield of 1.85% offers slightly greater income.
Net assets of $191.1 billion support good trading activity and liquidity.

Considerations

Net asset value is not disclosed, preventing valuation relative to underlying assets.
Included top ten holdings such as JPM and XOM have different sector characteristics to typical broad indexes.
Expense ratio of 0.03% is the same as fund A but the asset size is smaller.

About VTI and VTV

VTI (VTI)

This ETF offers broad exposure to the US equity market by tracking a comprehensive index of publicly traded companies. Designed as a large blend fund, it holds thousands of individual stocks, ranging from massive multinational corporations to smaller domestic firms. With an ultra-low expense ratio of 0.03%, it aims to provide cost-efficient long-term growth potential. The fund has a dividend yield of approximately 1.02%, reflecting the aggregate distributions from its holdings. Investors often consider this vehicle for core portfolio diversification, though it is essential to remember that stock market investments carry inherent risks, and values can fluctuate. Past performance is not indicative of future results, and returns are not guaranteed.

VTV (VTV)

The Vanguard Value ETF (VTV) is a large-cap value fund designed to track the performance of US large-capitalisation companies considered to have value characteristics. Launched in January 2004, it currently holds a diverse portfolio of 319 stocks. With a very low expense ratio of just 0.03%, it offers investors a cost-effective way to access established US companies that may be trading at lower prices relative to their fundamental metrics. The fund has accumulated net assets of approximately USD 191.07 billion, indicating significant liquidity and investor confidence. It currently provides a dividend yield of 1.85%. While value strategies can offer potential advantages during market rotations, like all investments, the value of shares can fall as well as rise, and returns are not guaranteed. This fund is generally suitable for investors seeking diversified exposure to the US large-cap value segment as part of a broader portfolio strategy.

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VTI vs VTV

Fund Snapshot