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× # VTI Vanguard Total Stock Market ETF Also available as an [Admiral™ Shares](https://investor.vanguard.com/investment-products/mutual-funds/profile/vtsax) mutual fund. Buy Compare Management style #### Index Asset class #### Domestic Stock - General Category #### Large Blend Risk / reward scale Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward The fund risk level is a 4 Less More End of Risk Scale. [Expense ratio]() #### 0\.03% as of 04/29/2025 [30 day SEC yield]() #### 1\.17% [B SEC yield footnote code]() #### as of 03/31/2026 [Market price (MP)]() #### \$345.24 #### as of 04/15/2026 NAV price #### \$345.23 as of 04/15/2026 [Overview]()[Performance & fees]()[Price]()[Portfolio composition]()[Distributions]()[Fund management]()[Proxy voting]()[Fund literature]() ## Overview ##### Key facts | | | |---|---| | [IOV ticker symbol]() | VTI.IV | | CUSIP | 922908769 | | Management style | Index | | Asset class | Domestic Stock - General | | Category | Large Blend | | Inception date | 05/24/2001 | | Fund Number | 0970 | ##### Ratings Risk / reward scale Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward The fund risk level is a 4 Less More End of Risk Scale. [Why should I care about risk?]() ##### Price Minimum Investment #### \$1.00 as of 04/15/2026 [Market price]() #### \$345.24 as of 04/15/2026 Market price change \$2.59 (0.76%) as of 04/15/2026 [Expense Ratio]() #### 0\.03% as of 04/29/2025 NAV Price #### \$345.23 as of 04/15/2026 NAV Change \$2.59 (0.76%) as of 04/15/2026 ##### Performance YTD returns (MP) #### 3\.30% as of 04/15/2026 YTD returns (NAV) #### 3\.30% as of 04/15/2026 ##### Product summary - Seeks to track the performance of the CRSP US Total Market Index. - Large-, mid-, and small-cap equity diversified across growth and value styles. - Employs a passively managed, index-sampling strategy. - The fund remains fully invested. - Low expenses minimize net tracking error. With respect to 75% of its total assets, the fund may not: (1) purchase more than 10% of the outstanding voting securities of any one issuer or (2) purchase securities of any issuer if, as a result, more than 5% of the fund’s total assets would be invested in that issuer’s securities; except as may be necessary to approximate the composition of its target index. This limitation does not apply to obligations of the U.S. government or its agencies or instrumentalities. ##### Fund management Vanguard Capital Management ## Performance & fees ##### Total returns Summary Quarterly Annually Cumulative Month-end/Quarterly Pre-Tax Toggle Month-End Quarterly (Pre-Tax) as of 03/31/2026 Recent returns Average annual | | Month-end | 3-Month total | YTD | 1-yr | 3-yr | 5-yr | 10-yr | Since inception05/24/2001 | |---|---|---|---|---|---|---|---|---| | VTI (Market price) | \-5.00% | \-4.01% | \-4.01% | 18\.11% | 17\.84% | 10\.75% | 13\.67% | 8\.94% | | VTI (NAV) | \-4.96% | \-3.97% | \-3.97% | 18\.19% | 17\.86% | 10\.78% | 13\.68% | 8\.94% | | Benchmark2Benchmark Spliced Total Stock Market Index | \-4.96% | \-3.96% | \-3.96% | 18\.21% | 17\.86% | 10\.78% | 13\.68% | 8\.96% | Market Price/Nav Toggle Market Price Nav as of 03/31/2026 | Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Year-end | Benchmark2Benchmark Spliced Total Stock Market Index | |---|---|---|---|---|---|---| | 2026 | \-4.01% | — | — | — | — | — | | 2025 | \-4.83% | 10\.92% | 8\.27% | 2\.45% | 17\.10% | 17\.15% | | 2024 | 9\.93% | 3\.24% | 6\.17% | 2\.68% | 23\.71% | 23\.77% | | 2023 | 7\.16% | 8\.42% | \-3.31% | 12\.27% | 26\.11% | 25\.98% | | 2022 | \-5.37% | \-16.89% | \-4.37% | 7\.03% | \-19.51% | \-19.49% | | 2021 | 6\.42% | 8\.24% | \-0.08% | 9\.15% | 25\.64% | 25\.72% | | 2020 | \-20.85% | 22\.06% | 9\.22% | 14\.72% | 21\.05% | 20\.99% | | 2019 | 14\.04% | 4\.08% | 1\.13% | 8\.97% | 30\.80% | 30\.84% | | 2018 | \-0.61% | 3\.90% | 7\.06% | \-14.25% | \-5.20% | \-5.17% | | 2017 | 5\.71% | 3\.07% | 4\.53% | 6\.38% | 21\.17% | 21\.19% | | 2016 | 0\.97% | 2\.68% | 4\.38% | 4\.19% | 12\.74% | 12\.68% | as of 12/31/2025 | Year | Capital return by NAV | Income return by NAV | Total return by NAV | Total return by Market Price | Benchmark2Benchmark Spliced Total Stock Market Index | |---|---|---|---|---|---| | 2025 | 15\.73% | 1\.41% | 17\.14% | 17\.10% | 17\.15% | | 2024 | 22\.11% | 1\.64% | 23\.75% | 23\.71% | 23\.77% | | 2023 | 24\.05% | 1\.98% | 26\.03% | 26\.11% | 25\.98% | | 2022 | \-20.80% | 1\.30% | \-19.50% | \-19.51% | \-19.49% | | 2021 | 24\.09% | 1\.63% | 25\.72% | 25\.64% | 25\.72% | | 2020 | 18\.88% | 2\.07% | 20\.95% | 21\.05% | 20\.99% | | 2019 | 28\.33% | 2\.47% | 30\.80% | 30\.80% | 30\.84% | | 2018 | \-6.93% | 1\.80% | \-5.13% | \-5.20% | \-5.17% | | 2017 | 18\.97% | 2\.19% | 21\.16% | 21\.17% | 21\.19% | | 2016 | 10\.42% | 2\.26% | 12\.68% | 12\.74% | 12\.68% | | 2015 | \-1.57% | 1\.96% | 0\.40% | 0\.37% | 0\.40% | | 2014 | 10\.52% | 2\.04% | 12\.56% | 12\.57% | 12\.58% | | 2013 | 30\.95% | 2\.56% | 33\.51% | 33\.48% | 33\.51% | | 2012 | 13\.92% | 2\.49% | 16\.41% | 16\.45% | 16\.44% | | 2011 | \-0.88% | 1\.94% | 1\.06% | 1\.00% | 1\.08% | as of 03/31/2026 | | 1-yr | 3-yr | 5-yr | 10-yr | Since inception05/24/2001 | |---|---|---|---|---|---| | VTI (Market price) | 18\.11% | 63\.65% | 66\.64% | 260\.16% | 739\.61% | | VTI (NAV) | 18\.19% | 63\.72% | 66\.80% | 260\.38% | 739\.97% | | Benchmark2Benchmark Spliced Total Stock Market Index | 18\.21% | 63\.71% | 66\.84% | 260\.58% | — | #### Quarterly after-tax returns ##### Expense ratio VTI 0\.03% Average expense ratio of similar funds3 0\.72% ##### Historical volatility measures as of 02/28/2026 | Benchmark | [R-Squared]()4 | [Beta]()4 | |---|---|---| | Spliced Total Stock Market Index2 | 1\.00 | 1\.00 | | Dow Jones U.S. Total Stock Market Index | 1\.00 | 1\.00 | *The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.* ## Price ##### Current market price Current price as of Wed Apr 15 20:00:00GMT+0 2026 [Market price]() ## \$345.24 [Refresh last price]() Market price change \$2.59 (0.76%) Open #### \$343.25 High #### \$345.41 Low #### \$342.61 [Refresh last price]() Bid/Ask spread #### \$0.20 (0.06%) Volume #### 3,978,475.256 Size #### 120 X 280 Tick #### UP Quotes delayed at least 15 minutes. *Source:* [FactSet](https://investor.vanguard.com/external-site-message?url=http://www.factset.com/ "Follow link")*.* ##### Closing price Closing price as of 04/15/2026 [Market price]() #### \$345.24 Market price change \$2.59 (0.76%) NAV #### \$345.23 NAV change \$2.59 (0.76%) 30-day Median Bid/Ask spread #### 0\.01% 52-week High #### \$345.23 as of 04/15/2026 52-week Low #### \$252.69 as of 04/21/2025 52-week Difference #### \$92.54 (36.62%) Premium/Discount #### \$0.01 (0.00%) 25-day Avg Volume #### 5,130,264.912 50-day Avg Volume #### 5,955,030.963 [30 day SEC yield]() #### #### 1\.17% #### #### [B SEC yield footnote code]() as of 03/31/2026 ##### Historical prices 1 month 3 months 6 months 1 year 3 years 5 years 10 years Chart/Table Toggle Chart Table | Name | Date | NAV | |---|---|---| | VTI | 04/15/2026 | \$345.23 | This chart can’t be displayed on mobile devices. For the best viewing experience, visit this page from your desktop or laptop. #### Premium/Discount chart ## Portfolio composition ##### Characteristics as of 02/28/2026 | Fundamental | VTI | Benchmark Benchmark CRSP US Total Market Index | |---|---|---| | Number of stocks | 3503 | 3453 | | Median market cap | \$254.8 B | \$254.8 B | | [Earnings growth rate]() | 22\.4% | 22\.4% | | Short-term reserves | — | — | | [P/E ratio]() | 26\.9x | 26\.8x | | [P/B ratio]() | 4\.6x | 4\.6x | | Turnover rate (Fiscal Year-end 12/31/2025) | 2\.6% | — | | [Return on equity]() | 25\.1% | 25\.0% | | Foreign holdings | 0\.2% | — | | Fund total net assets as of 02/28/2026 | \$2.1 T | — | | Share class total net assets | \$586.3 B | — | ##### Stylebox Equity Market Captialization Large Investment Style Blend Market capitalization LargeMidSmall Investment style Value Blend Growth ##### Risks associated with moderate to aggressive funds Vanguard funds classified as moderate to aggressive are broadly diversified but are subject to wide fluctuations in share price because they hold virtually all of their assets in common stocks. In general, such funds are appropriate for investors who have a long-term investment horizon (ten years or longer), who are seeking growth in capital as a primary objective, and who are prepared to endure the sharp and sometimes prolonged declines in share prices that occur from time to time in the stock market. This price volatility is the trade-off for the potentially high returns that common stocks can provide. The level of current income produced by funds in this category ranges from moderate to very low. ##### Weighted exposures as of 02/28/2026 Sectors 1\.80% Basic Materials Sectors5 VTI Benchmark Benchmark CRSP US Total Market Index \+/- Weight Basic Materials 1\.80% 1\.80% 0\.00% Consumer Discretionary 13\.60% 13\.60% 0\.00% Consumer Staples 3\.90% 3\.90% 0\.00% Energy 3\.70% 3\.70% 0\.00% Financials 10\.60% 10\.60% 0\.00% Health Care 9\.90% 9\.90% 0\.00% Industrials 13\.10% 13\.10% 0\.00% Real Estate 2\.40% 2\.40% 0\.00% Technology 36\.20% 36\.20% 0\.00% Telecommunications 2\.00% 2\.00% 0\.00% Utilities 2\.80% 2\.80% 0\.00% Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures. ##### Holding details as of 03/31/2026 Equity Fixed income Short-term reserve Portfolio composition file ⟩ ⟨ | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | [Effective maturity date]() | [Final maturity date]() | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | ⟩ ⟨ | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | [Effective maturity date]() | [Final maturity date]() | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | ⟩ ⟨ | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | [Effective maturity date]() | [Final maturity date]() | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | ⟩ ⟨ | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | [Effective maturity date]() | [Final maturity date]() | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | [Vanguard portfolio holdings disclaimer]() ## Distributions ##### Realized/Unrealized gains as of 02/28/2026 Realized gain #### \-\$5.82 % of NAV \-1.72% Unrealized gains of NAV #### \$207.49 % of NAV 61\.25% Fiscal year end #### 12/31/2026 Distribution schedule #### Quarterly ## **How your fund can affect your taxes** A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses. These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan. [Learn about realized and unrealized gains and losses]() ## **How your fund can affect your taxes** A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses. These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan. [Learn about realized and unrealized gains and losses]() ##### Dividend income and capital gains | Type | \$/Share | [Payable date]() | [Record date]() | [Ex-dividend date]() | |---|---|---|---|---| | Dividend | \$0.998200 | 03/31/2026 | 03/27/2026 | 03/27/2026 | | Dividend | \$0.950800 | 12/24/2025 | 12/22/2025 | 12/22/2025 | | Dividend | \$0.907200 | 10/01/2025 | 09/29/2025 | 09/29/2025 | | Dividend | \$0.913200 | 07/02/2025 | 06/30/2025 | 06/30/2025 | | Dividend | \$0.985400 | 03/31/2025 | 03/27/2025 | 03/27/2025 | | Dividend | \$0.941200 | 12/26/2024 | 12/23/2024 | 12/23/2024 | Label 1-6 of 6 Page 1 1-6 of 6 Page 1 Distribution yields are not available for products with less than 12 months of distribution history. ## Fund management Vanguard Total Stock Market ETF seeks to track the investment performance of the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. The fund invests by sampling the index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. These key characteristics include industry weightings and market capitalization, as well as certain financial measures such as price/earnings ratio and dividend yield. The Global Equity Index Management team applies disciplined portfolio construction and efficient trading techniques designed to help minimize tracking error and maintain close alignment with benchmark characteristics. The team uses proprietary software to implement trading decisions that accommodate cash flow and preserve index characteristics. Vanguard’s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking net of expenses. **Vanguard Capital Management** Launched in 1975, The Vanguard Group, Inc., Malvern, Pennsylvania, is among the world’s largest equity and fixed income managers. Vanguard’s wholly owned subsidiary, Vanguard Capital Management, an independent investment advisor designed to enhance fund oversight and operational efficiency, is focused on equity, fixed income, and multi-asset strategies. Equity index funds are managed by Global Equity Index Management, covering U.S. and international markets. Global Equity Index Management has developed sophisticated portfolio construction methodologies and efficient trading strategies that seek to deliver returns that are highly correlated with target portfolio benchmarks. The group has advised Vanguard Total Stock Market ETF since 2001. Walter Nejman Portfolio manager. Advised the fund since 2016. Worked in investment management since 2008. B.A., Arcadia University. M.B.A., Villanova University. Michelle Louie CFA, Principal Portfolio manager. Advised the fund since 2023. Worked in investment management since 2011. B.S., The American University. M.B.A., Georgia Institute of Technology. Nick Birkett CFA, Portfolio manager. Advised the fund since 2025. Worked in investment management since 2005. BSc, University of Bath. ## Proxy voting [Fund proxy policy](https://corporate.vanguard.com/content/corporatesite/us/en/corp/about-our-funds/proxy-voting-across-funds/vanguard-capital-management.html) [Proxy voting record](https://vds.issgovernance.com/vds/#/MjAxMA==/) Please refer to the Literature section below to access the Statement of Additional Information (SAI), which details the fund's approach to proxy voting. ## Fund literature [View prospectus and reports Opens a new Window](https://personal1.vanguard.com/usa/ngf-next-gen-form-webapp/public/fund-literatures/0970) Performance & fees 1 Effective July 15, 2024, the market price returns are calculated using the official closing price as reported by the ETF’s primary exchange. Prior to July 15, 2024, the market price returns were calculated using the midpoint between the bid and ask prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time). The returns shown do not represent the returns you would receive if you traded shares at other times. Effective July 15, 2024, the market price returns are calculated using the official closing price as reported by the ETF’s primary exchange. Prior to July 15, 2024, the market price returns were calculated using the midpoint between the bid and ask prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time). The returns shown do not represent the returns you would receive if you traded shares at other times. 2 Dow Jones U.S. Total Stock Market Index (formerly known as the Dow Jones Wilshire 5000 Index) through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter. Dow Jones U.S. Total Stock Market Index (formerly known as the Dow Jones Wilshire 5000 Index) through April 22, 2005; MSCI US Broad Market Index through June 2, 2013; and CRSP US Total Market Index thereafter. 3 Most recent data available. © 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Most recent data available. © 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. 4 R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark. R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark. Portfolio composition 5 Sector categories are based on the Industry Classification Benchmark system (“ICB”), except for the “Other” category (if applicable), which includes securities that have not been provided an ICB classification as of the effective reporting period. Sector categories are based on the Industry Classification Benchmark system (“ICB”), except for the “Other” category (if applicable), which includes securities that have not been provided an ICB classification as of the effective reporting period. © 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. **Vanguard ETFs as a share class:** Vanguard ETFs® (exchange-traded funds) are a class of shares listed for trading on an exchange. The shares are available only through a broker, including Vanguard Brokerage Services®. *Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.* **Total returns:** Short-term total return information is provided only as a service. Historical performance—particularly short-term performance—is no guarantee of future returns. Price, yield, and return on an actual investment will fluctuate, and you may have a gain or loss when you sell. Average annual returns include changes in price and reinvestments of dividends and capital gains. Since-inception returns for less than 1 year and year-to-date returns aren't annualized. Index performance is provided as a benchmark but isn't illustrative of any particular investment. You can't invest in an index. **Standardized returns:** To see quarterly fee-adjusted returns, refer to the **Price & Performance** details. **Expense ratios:** Expense ratios are displayed on **Overview**. For investments that are less than 1 fiscal year old, expense ratios are estimated. **Risk:** All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Vanguard average ETF expense ratio: 0.04%. Industry average ETF expense ratio: 0.23%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2025. An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. Although Total Stock Market ETF is listed for trading on the NYSE Arca, it is possible that an active trading market may not be maintained. Trading of Total Stock Market ETF on the NYSE Arca may be halted if NYSE Arca officials deem such action appropriate, if Total Stock Market ETF is delisted from the NYSE Arca, or if the activation of marketwide “circuit breakers” halts stock trading generally. The fund’s performance could be hurt by: - **Stock market risk:** The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies. - **Sector risk:** The chance that significant problems will affect a particular sector, or that returns from that sector will trail returns from the overall stock market. Daily fluctuations in specific market sectors are often more extreme or volatile than fluctuations in the overall market. Because a significant portion of the fund’s assets are in the technology sector, the fund’s performance is impacted by the general condition of that sector. Companies in the technology sector could be affected by, among other things, overall economic conditions, short product cycles, rapid obsolescence of products, competition, and government regulation. - **Nondiversification risk:** Because the fund seeks to closely track the composition of the fund's target index, from time to time, more than 25% of the fund's total assets may be invested in issuers representing more than 5% of the fund's total assets due to an index rebalance or market movement, which would result in the fund being nondiversified under the Investment Company Act of 1940. The fund’s performance may be hurt disproportionately by the poor performance of relatively few stocks, or even a single stock, and the fund’s shares may experience significant fluctuations in value. - **Index-related risks:** The fund is subject to risks associated with index investing, which include passive management risk, tracking error risk, and index provider risk. Passive management risk is the chance that the fund's use of an indexing strategy will negatively impact the fund's performance. Because the fund seeks to track the performance of its target index regardless of how that index is performing, the fund's performance may be lower than it would be if the fund were actively managed. Tracking error risk is the chance that the fund's performance will deviate from the performance of its target index. Tracking error risk may be heightened during times of increased market volatility or under other unusual market conditions. Index provider risk is the chance that the fund will be negatively impacted by changes or errors made by the index provider. Any gains, losses, or costs associated with or resulting from an error made by the index provider will generally be borne by the fund and, as a result, the fund's shareholders.

##### Characteristics as of 02/28/2026 | Fundamental | VTI | Benchmark Benchmark | |---|---|---| | Number of stocks | 3503 | 3453 | | Median market cap | \$254.8 B | \$254.8 B | | Earnings growth rate | 22\.4% | 22\.4% | | Short-term reserves | — | — | | P/E ratio | 26\.9x | 26\.8x | | P/B ratio | 4\.6x | 4\.6x | | Turnover rate (Fiscal Year-end 12/31/2025) | 2\.6% | — | | Return on equity | 25\.1% | 25\.0% | | Foreign holdings | 0\.2% | — | | Fund total net assets as of 02/28/2026 | \$2.1 T | — | | Share class total net assets | \$586.3 B | — | Stylebox Equity Market Captialization Large Investment Style Blend ##### Weighted exposures as of 02/28/2026 1\.80% Basic Materials Basic Materials 1\.80% 1\.80% 0\.00% Consumer Discretionary 13\.60% 13\.60% 0\.00% Consumer Staples 3\.90% 3\.90% 0\.00% Energy 3\.70% 3\.70% 0\.00% Financials 10\.60% 10\.60% 0\.00% Health Care 9\.90% 9\.90% 0\.00% Industrials 13\.10% 13\.10% 0\.00% Real Estate 2\.40% 2\.40% 0\.00% Technology 36\.20% 36\.20% 0\.00% Telecommunications 2\.00% 2\.00% 0\.00% Utilities 2\.80% 2\.80% 0\.00% Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures. ##### Holding details as of 03/31/2026 | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | Effective maturity date | Final maturity date | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | Effective maturity date | Final maturity date | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | Effective maturity date | Final maturity date | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — | | Ticker | Holdings | CUSIP | SEDOL | % of fund | Shares | Market value | |---|---|---|---|---|---|---| | NVDA | NVIDIA Corp. | 67066G104 | 2379504 | 6\.40 % | 733,305,621 | \$127,888,500,302 | | AAPL | Apple Inc. | 037833100 | 2046251 | 5\.92 % | 466,354,347 | \$118,356,069,725 | | MSFT | Microsoft Corp. | 594918104 | 2588173 | 4\.37 % | 235,877,602 | \$87,314,811,932 | | AMZN | Amazon.com Inc. | 023135106 | 2000019 | 3\.20 % | 306,900,330 | \$63,918,131,729 | | GOOGL | Alphabet Inc. Class A | 02079K305 | BYVY8G0 | 2\.66 % | 184,949,645 | \$53,184,119,916 | | AVGO | Broadcom Inc. | 11135F101 | BDZ78H9 | 2\.33 % | 150,609,108 | \$46,615,025,017 | | GOOG | Alphabet Inc. Class C | 02079K107 | BYY88Y7 | 2\.11 % | 146,814,441 | \$42,115,190,545 | | META | Facebook Inc. Class A | 30303M102 | B7TL820 | 1\.99 % | 69,476,773 | \$39,749,746,136 | | TSLA | Tesla Inc. | 88160R101 | B616C79 | 1\.66 % | 89,405,518 | \$33,236,501,317 | | BRK.B | Berkshire Hathaway Inc. Class B | 084670702 | 2073390 | 1\.36 % | 56,820,749 | \$27,228,502,921 | | Name of issuer | Title of issuer | Coupon/Yield | Category of investment | Cusip/Other id | Effective maturity date | Final maturity date | Principal amount | Amortized cost | |---|---|---|---|---|---|---|---|---| | — | — | — | — | 67066G104 | — | — | — | — | | — | — | — | — | 037833100 | — | — | — | — | | — | — | — | — | 594918104 | — | — | — | — | | — | — | — | — | 023135106 | — | — | — | — | | — | — | — | — | 02079K305 | — | — | — | — | | — | — | — | — | 11135F101 | — | — | — | — | | — | — | — | — | 02079K107 | — | — | — | — | | — | — | — | — | 30303M102 | — | — | — | — | | — | — | — | — | 88160R101 | — | — | — | — | | — | — | — | — | 084670702 | — | — | — | — | | Ticker | Description | Shares | |---|---|---| | NVDA | — | — | | AAPL | — | — | | MSFT | — | — | | AMZN | — | — | | GOOGL | — | — | | AVGO | — | — | | GOOG | — | — | | META | — | — | | TSLA | — | — | | BRK.B | — | — |