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Relative Intelligence · Global Equity

How Vanguard Total World Stock ETF (VT) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VT alone. It places VT (Vanguard Total World Stock ETF) against 15 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where VT stands in the market, and of the alternatives worth a closer look.

Period covered: VT's full trading record, from June 2008 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against VT →Chart VT vs. 15 alternatives →
On this page12 sections

Key findings

How much would $10,000 in VT have grown?

This chart tracks a hypothetical $10,000 investment in VT over the past 18 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VT over the same span and VT's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: VT began trading on June 26, 2008, so the chart cannot reach back to the dot-com bust. It covers the most recent 18 years of VT's record, starting at the end of September 2008.

Choose a period

From the end of September 2008 to the end of September 2026. Hover over a fund in the key to pick out its line. 883 of the 1,883 stocks and funds worth at least $500 million that traded the whole period ended ahead of VT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,0002008201120142017202020232026$0$50,000$100,0002008201320182023
  • SPY (S&P 500)$91,104+811% total · +13.1% a year
  • VTI$88,394+784% total · +12.9% a year
  • DXJ$74,661+647% total · +11.8% a year
  • IOO$69,773+598% total · +11.4% a year
  • VTV$65,599+556% total · +11.0% a year
  • BRK-B$56,648+466% total · +10.1% a year
  • ACWI$54,372+444% total · +9.9% a year
  • VT$53,855+439% total · +9.8% a year
  • DGT$49,124+391% total · +9.2% a year
  • VEA$34,973+250% total · +7.2% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,188 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of VT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000202120222023202420252026$5,000$10,000$15,000$20,000$25,000202120222023202420252026
  • LVHI$21,792+118% total · +16.9% a year
  • IOO$21,685+117% total · +16.7% a year
  • DGT$19,573+95.7% total · +14.4% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • VTI$18,064+80.6% total · +12.6% a year
  • DGRW$17,978+79.8% total · +12.4% a year
  • URTH$17,645+76.4% total · +12.0% a year
  • SPGM$17,553+75.5% total · +11.9% a year
  • ACWI$17,332+73.3% total · +11.6% a year
  • VT$17,117+71.2% total · +11.3% a year
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VT at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: VT began trading on June 26, 2008, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust.

The fund

Issuer
Vanguard
Began trading
June 2008
Expense ratio
0.06%per year
Assets
$101B
Category
International

Returns

Past 1 year
+15.0%total return
Past 3 years
+83.8%+22.5% a year
Past 5 years
+63.3%+10.3% a year
Past 10 years
+223%+12.4% a year
Best calendar year
+32.6%2009
Worst calendar year
−18.0%2022
Losing years
4 of 17full calendar years

Risk

Volatility
16.2%typical yearly swing, 5 years
Sharpe ratio
0.69return per unit of risk, 5 years
Worst decline ever
−50.3%Jun 2008 to Mar 2009
From its all-time high
−2.6%below the peak

VT against the whole market

Where VT ranks among every stock and fund, and what across the market has done better.

How does VT rank among all ETFs?

This section ranks VT on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how VT stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureVTRankStanding
1-year return+15.0%823 of 2,485top 33%
3-year return+83.8%492 of 1,949top 25%
5-year return+63.3%477 of 1,560top 31%
10-year return+223%218 of 958top 23%
Volatility, 5 years16.2%720 of 1,560top 46%
Sharpe ratio, 5 years0.69555 of 1,560top 36%
Worst decline, past 10 years−34.2%311 of 951top 33%

What has beaten VT on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). VT sits where the dashed lines cross. Anything in the green box above and to the left earned more than VT with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to VT; faint dots are 25 more of the 50 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

8.0%10.0%12.0%14.0%16.0%18.0%20.0%7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than VTRWL: +13.7% a year, volatility 14.4%FJUL: +11.5% a year, volatility 10.9%IWX: +12.7% a year, volatility 13.8%EQWL: +11.6% a year, volatility 15.0%ROUS: +12.3% a year, volatility 14.4%FDRR: +12.6% a year, volatility 15.0%QDPL: +11.8% a year, volatility 15.0%FTQI: +11.5% a year, volatility 14.8%SIXA: +12.8% a year, volatility 12.7%VYM: +11.3% a year, volatility 13.8%EMLP: +14.9% a year, volatility 14.5%VYMI: +13.2% a year, volatility 14.8%HDV: +12.9% a year, volatility 13.0%GCOW: +14.1% a year, volatility 13.6%DBEF: +13.1% a year, volatility 13.8%FDVV: +13.2% a year, volatility 14.6%FDL: +13.9% a year, volatility 14.4%HDEF: +12.8% a year, volatility 14.2%HFXI: +11.4% a year, volatility 15.3%DDWM: +12.3% a year, volatility 13.4%DHS: +12.0% a year, volatility 13.9%FGD: +11.6% a year, volatility 14.8%AUSF: +13.2% a year, volatility 13.6%EQL: +13.5% a year, volatility 14.5%DJD: +11.8% a year, volatility 13.3%VT: +10.3% a year, volatility 16.2%SPY (S&P 500): +12.7% a year, volatility 17.1%DGT: +13.8% a year, volatility 15.1%VTI: +11.5% a year, volatility 17.5%IOO: +15.7% a year, volatility 17.2%LVHI: +17.0% a year, volatility 11.1%DGRW: +11.8% a year, volatility 14.0%FNDF: +13.6% a year, volatility 16.3%AVDV: +13.9% a year, volatility 17.4%DXJ: +26.6% a year, volatility 19.1%DFIV: +14.8% a year, volatility 16.4%VTV: +12.1% a year, volatility 13.7%AVLV: +14.0% a year, volatility 16.9%BKLC: +13.8% a year, volatility 17.3%PVAL: +16.1% a year, volatility 15.1%BRK-B: +13.4% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%IAU: +17.9% a year, volatility 18.9%PJUL: +10.5% a year, volatility 8.6%VTSPY (S&P 500)DGTVTIIOOLVHIDGRWFNDFAVDVDXJDFIVVTVPVALIAUPJUL7.5%10.0%12.5%15.0%17.5%20.0%5.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than VTRWL: +13.7% a year, volatility 14.4%FJUL: +11.5% a year, volatility 10.9%IWX: +12.7% a year, volatility 13.8%EQWL: +11.6% a year, volatility 15.0%ROUS: +12.3% a year, volatility 14.4%FDRR: +12.6% a year, volatility 15.0%QDPL: +11.8% a year, volatility 15.0%FTQI: +11.5% a year, volatility 14.8%SIXA: +12.8% a year, volatility 12.7%VYM: +11.3% a year, volatility 13.8%EMLP: +14.9% a year, volatility 14.5%VYMI: +13.2% a year, volatility 14.8%HDV: +12.9% a year, volatility 13.0%GCOW: +14.1% a year, volatility 13.6%DBEF: +13.1% a year, volatility 13.8%FDVV: +13.2% a year, volatility 14.6%FDL: +13.9% a year, volatility 14.4%HDEF: +12.8% a year, volatility 14.2%HFXI: +11.4% a year, volatility 15.3%DDWM: +12.3% a year, volatility 13.4%DHS: +12.0% a year, volatility 13.9%FGD: +11.6% a year, volatility 14.8%AUSF: +13.2% a year, volatility 13.6%EQL: +13.5% a year, volatility 14.5%DJD: +11.8% a year, volatility 13.3%VT: +10.3% a year, volatility 16.2%SPY (S&P 500): +12.7% a year, volatility 17.1%DGT: +13.8% a year, volatility 15.1%VTI: +11.5% a year, volatility 17.5%IOO: +15.7% a year, volatility 17.2%LVHI: +17.0% a year, volatility 11.1%DGRW: +11.8% a year, volatility 14.0%FNDF: +13.6% a year, volatility 16.3%AVDV: +13.9% a year, volatility 17.4%DXJ: +26.6% a year, volatility 19.1%DFIV: +14.8% a year, volatility 16.4%VTV: +12.1% a year, volatility 13.7%AVLV: +14.0% a year, volatility 16.9%BKLC: +13.8% a year, volatility 17.3%PVAL: +16.1% a year, volatility 15.1%BRK-B: +13.4% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%IAU: +17.9% a year, volatility 18.9%PJUL: +10.5% a year, volatility 8.6%VTSPY (S&P 500)VTIIOOLVHIAVDVDXJDFIVPVALIAUPJUL
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than VT?

Investments that beat VT over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat VT over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks VT's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than VT follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than VT's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× VT's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than VT's.

Screen the whole market against VT for any period in BetterThanSPYOpen these 18 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with VT?lower diversifies moreExpenseper year
VTVanguard Total World Stock ETF · this page
+10.3%16.2%0.69−34.2%+223%1.000.06%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.970.09%
Popular alternativesbest 3 shownThe investments people most often weigh against VT. 4 of 10 passed at least one test.
DGTState Street SPDR Global Dow ETF · International
Higher return, lower volatilityHigher return in most periods+13.8%15.1%0.94−34.4%+261%0.930.50%
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Higher return in most periodsSame exposure, lower expense ratio+11.5%17.5%0.71−35.0%+302%0.970.03%
IOOiShares Global 100 ETF · Global Equity
Higher return, similar volatilityHigher return in most periods+15.7%17.2%0.94−31.4%+361%0.930.40%
Same and neighboring categories, and shared themesbest 6 shownEverything else in Global Equity and the categories next to it (International Equity, Developed International Equity, US Dividend Equity, Emerging Markets Equity), plus VT's specific themes. 21 of 78 passed at least one test.
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
On the frontierHigher return, lower volatilityHigher return in most periods+17.0%11.1%1.48−32.4%+194%0.660.40%
DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity
Higher return, lower volatilityHigher return in most periods+11.8%14.0%0.87−32.0%+276%0.930.28%
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Higher return, similar volatilityHigher return in most periods+13.6%16.3%0.87−40.2%+194%0.850.25%
AVDVAvantis International Small Cap Value ETF · International Equity
Higher return, similar volatilityHigher return in most periods+13.9%17.4%0.84−43.0%—0.840.36%
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.560.48%
DFIVDimensional - International Value ETF · International Equity
Higher return, similar volatilityHigher Sharpe, smaller worst decline+14.8%16.4%0.93−25.4%—0.790.27%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 225 of 3,545 passed at least one test.
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher return in most periods+12.1%13.7%0.90−36.8%+235%0.870.03%
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.0%16.9%0.86−19.5%—0.900.15%
BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.8%17.3%0.84−26.2%—0.960.00%
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher return in most periods+16.1%15.1%1.07−41.3%—0.890.56%
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, similar volatilityHigher return in most periods+13.4%17.1%0.82−29.6%+274%0.51—
KOThe Coca-Cola Company · Food & Beverages
Higher return, similar volatilityHigher return in most periods+14.7%16.8%0.91−37.0%+204%0.39—
IAUiShares Gold Trust · Gold
Higher Sharpe, smaller worst declineSmaller losses in recent crashes+17.9%18.9%0.97−26.4%+218%0.290.25%
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+10.5%8.6%1.20−18.2%—0.920.79%
What these numbers mean for VT
Annual return
VT returned 10.3% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $16,300. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
VT's volatility over the past 5 years was 16.2%, 95% of the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VT's return lands within 16.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
VT's Sharpe ratio over the past 5 years was 0.69, against 0.79 for the S&P 500, so VT earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
VT's worst fall from a peak to a low over the past 10 years was 34.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 34.2% fall takes a 52.1% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, VT's monthly returns had a correlation of 0.97 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VT instead: the lower it is, the more that option would diversify a VT holding. Guide: Correlation and diversification →
Show all 50 stocks and funds worth at least $500 million that earned more than VT with less volatility

Out of 3,633 tested over 5 years. The strongest 30 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with VTExpense
1
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.870.03%
2
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Same or nearby category+17.0%11.1%1.48−32.4%+194%0.660.40%
3
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.890.56%
4
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.920.39%
5
FJULFT Vest U.S. Equity Buffer ETF - July · Multi-Asset
Whole market+11.5%10.9%1.06−13.1%—0.950.85%
6
DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity
Same or nearby category+11.8%14.0%0.87−32.0%+276%0.930.28%
7
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.890.20%
8
EQWLInvesco S&P 100 Equal Weight ETF · Broad Market
Whole market+11.6%15.0%0.81−34.3%+291%0.960.30%
9
DGTState Street SPDR Global Dow ETF · International
Popular alternative+13.8%15.1%0.94−34.4%+261%0.930.50%
10
ROUSHartford Multifactor US Equity ETF · Broad Market
Whole market+12.3%14.4%0.88−35.5%+238%0.940.19%
11
FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income
Whole market+12.6%15.0%0.87−36.5%+265%0.930.15%
12
QDPLPacer Metaurus US Large Cap Dividend Multiplier 400 ETF · Dividend & Income
Whole market+11.8%15.0%0.82−22.6%—0.960.60%
13
FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income
Whole market+11.5%14.8%0.82−19.4%+121%0.870.75%
14
SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market
Whole market+12.8%12.7%1.01−18.4%—0.860.31%
15
VYMVanguard High Dividend Yield ETF · US Dividend Equity
Same or nearby category+11.3%13.8%0.85−35.2%+208%0.860.04%
16
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.640.95%
17
VYMIVanguard International High Dividend Yield ETF · International Equity
Same or nearby category+13.2%14.8%0.92−40.0%+176%0.810.07%
18
HDViShares Core High Dividend ETF · US Dividend Equity
Same or nearby category+12.9%13.0%1.00−37.0%+172%0.650.08%
19
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.650.60%
20
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Same or nearby category+13.1%13.8%0.96−32.5%+206%0.880.35%
21
FDVVFidelity High Dividend ETF · US Dividend Equity
Same or nearby category+13.2%14.6%0.92−40.2%+253%0.920.15%
22
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Same or nearby category+13.9%14.4%0.98−41.4%+199%0.640.43%
23
HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International
Whole market+12.8%14.2%0.92−36.4%+134%0.720.09%
24
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.920.19%
25
DDWMWisdomTree Dynamic International Equity Fund · International
Whole market+12.3%13.4%0.94−35.0%+149%0.830.40%
26
DHSWisdomTree U.S. High Dividend Fund · Dividend & Income
Whole market+12.0%13.9%0.89−37.4%+156%0.680.38%
27
FGDFirst Trust Dow Jones Global Select Dividend Index Fund · International
Whole market+11.6%14.8%0.82−44.8%+155%0.770.55%
28
AUSFGlobal X - Adaptive U.S. Factor ETF · International
Whole market+13.2%13.6%0.99−44.2%—0.750.27%
29
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.930.19%
30
DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income
Whole market+11.8%13.3%0.91−34.7%+227%0.790.07%

VT against its popular alternatives

The investments people most often weigh against VT, compared period by period and year by year.

How do VT's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at VT, which divides the map into what did better or worse on each measure.

Green points earned more than VT with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

4.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%−2.0%0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityVT: 10.3% a year, volatility 16.2%SPY (S&P 500): 12.7% a year, volatility 17.1%DGT: 13.8% a year, volatility 15.1%SPGM: 10.8% a year, volatility 16.2%VEA: 9.3% a year, volatility 16.9%VXUS: 8.3% a year, volatility 16.4%VWO: 5.2% a year, volatility 17.5%IOO: 15.7% a year, volatility 17.2%VTI: 11.5% a year, volatility 17.5%URTH: 11.1% a year, volatility 16.3%ACWI: 10.5% a year, volatility 16.2%BNDW: −0.1% a year, volatility 5.3%VTSPY (S&P 500)DGTSPGMVEAVXUSVWOIOOVTIBNDW5.0%7.5%10.0%12.5%15.0%17.5%−5.0%0.0%5.0%10.0%15.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityVT: 10.3% a year, volatility 16.2%SPY (S&P 500): 12.7% a year, volatility 17.1%DGT: 13.8% a year, volatility 15.1%SPGM: 10.8% a year, volatility 16.2%VEA: 9.3% a year, volatility 16.9%VXUS: 8.3% a year, volatility 16.4%VWO: 5.2% a year, volatility 17.5%IOO: 15.7% a year, volatility 17.2%VTI: 11.5% a year, volatility 17.5%URTH: 11.1% a year, volatility 16.3%ACWI: 10.5% a year, volatility 16.2%BNDW: −0.1% a year, volatility 5.3%VTSPY (S&P 500)DGTSPGMVXUSVWOIOOVTIBNDW
All figures
InvestmentAnnual returnVolatility
IOO iShares Global 100 ETF+15.7%17.2%
DGT State Street SPDR Global Dow ETF+13.8%15.1%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
VTI Vanguard Morningstar Total Stock Market ETF+11.5%17.5%
URTH iShares MSCI World ETF+11.1%16.3%
SPGM State Street SPDR Portfolio MSCI Global Stock Market ETF+10.8%16.2%
ACWI iShares MSCI ACWI ETF+10.5%16.2%
VT This pageVanguard Total World Stock ETF+10.3%16.2%
VEA Vanguard FTSE Developed Markets ETF+9.3%16.9%
VXUS Vanguard Total International Stock ETF+8.3%16.4%
VWO Vanguard FTSE Emerging Markets ETF+5.2%17.5%
BNDW Vanguard Total World Bond ETF−0.1%5.3%
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Has VT consistently beaten its popular alternatives?

This section compares VT with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than VT helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than VT over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
VT Vanguard Total World Stock ETF (this page)—−1.9%+2.5%+5.5%+12.0%+15.0%+83.8%+63.3%+223%16.2%0.69−34.2%0.06%$101B—
IOO QualifiediShares Global 100 ETF5/5 short3/3 longAll-weather−1.1%+4.6%+9.3%+14.2%+19.9%+105%+107%+361%17.2%0.94−31.4%0.40%$9.2B80%
DGT QualifiedState Street SPDR Global Dow ETF5/5 short3/3 longAll-weather−0.3%+3.5%+6.5%+14.5%+17.8%+92.6%+91.1%+261%15.1%0.94−34.4%0.50%$656M87%
VTI QualifiedVanguard Morningstar Total Stock Market ETF4/5 short3/3 longAll-weather−0.8%+3.2%+8.3%+13.1%+15.2%+87.9%+72.6%+302%17.5%0.71−35.0%0.03%$2.3T90%
URTH QualifiediShares MSCI World ETF3/5 short2/3 long−1.1%+3.1%+6.8%+11.9%+14.9%+84.5%+69.3%+245%16.3%0.73−34.0%0.24%$8.6B96%
SPGM InternationalState Street SPDR Portfolio MSCI Global Stock Market ETF2/5 short3/3 long−1.9%+2.5%+5.8%+12.6%+16.0%+86.6%+67.0%+229%16.2%0.72−34.0%0.09%$1.8B89%
AVGE Broad MarketAvantis All Equity Markets ETF3/5 short0/3 long−1.2%+1.7%+5.5%+15.5%+20.6%+84.4%————−17.1%0.23%$1.3B85%
DFAW InternationalDimensional - World Equity ETF3/5 short0/3 long−1.1%+2.3%+5.6%+13.3%+17.3%+81.5%————−16.9%0.24%$1.7B93%
ACWI InternationaliShares MSCI ACWI ETF1/5 short0/3 long−1.9%+2.8%+6.2%+12.1%+15.1%+84.5%+65.1%+227%16.2%0.70−33.5%0.32%$33B97%
VEA InternationalVanguard FTSE Developed Markets ETF1/5 short0/3 long−3.5%+1.0%+1.4%+11.5%+17.0%+81.0%+55.9%+153%16.9%0.61−35.8%0.03%$314B77%
BNDW BondsVanguard Total World Bond ETF1/5 short0/3 long−0.3%−1.6%−2.1%−1.3%−1.8%+14.6%−0.5%—5.3%0.01−17.2%0.05%$1.9B32%
VXUS InternationalVanguard Total International Stock ETF0/5 short0/3 long−3.9%+1.0%+0.9%+10.2%+14.6%+77.2%+48.6%+140%16.4%0.57−36.0%0.05%$666B81%
VWO InternationalVanguard FTSE Emerging Markets ETF0/5 short0/3 long−4.7%+0.7%−0.8%+6.4%+8.3%+67.2%+29.1%+102%17.5%0.38−36.4%0.06%$165B86%
CGGE InternationalCapital Group Global Equity ETF0/5 short0/3 long−2.2%+0.5%+4.3%+7.7%+10.7%—————−14.4%0.47%$3.2B86%
CGGO InternationalCapital Group Global Growth Equity ETF0/5 short0/3 long−5.3%−2.1%+2.2%+8.7%+11.1%+76.0%————−24.9%0.47%$12B82%
CGXU InternationalCapital Group International Focus Equity ETF0/5 short0/3 long−8.0%−1.6%+2.2%+9.2%+12.2%+65.6%————−25.7%0.54%$6.6B80%
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How did VT do year by year?

This table shows each investment's total return in every full calendar year since 2009, along with where VT ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with VT and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: VT began trading on June 26, 2008, so the table starts with 2009, its first full calendar year, and cannot show how it fared during the dot-com bust.

Newest year first. Green marks a year in which the fund came out ahead of VT; gray means the two finished within a fraction of a point. The rank row places VT among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of VT20252024202320222021202020192018201720162015201420132012201120102009
VT This pageVanguard Total World Stock ETF—+22.4%+16.5%+22.0%−18.0%+18.3%+16.6%+26.8%−9.8%+24.5%+8.5%−1.9%+3.7%+22.9%+17.2%−7.5%+13.1%+32.6%
Rank among alternativesTop quarter in 2 of 179 of 166 of 156 of 149 of 117 of 113 of 114 of 116 of 105 of 105 of 105 of 105 of 106 of 104 of 83 of 73 of 72 of 7
SPY S&P 500State Street SPDR S&P 500 ETF12 of 17+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%
IOO iShares Global 100 ETF10 of 17+27.0%+26.6%+27.7%−16.3%+26.0%+18.6%+30.0%−6.3%+23.6%+8.3%−1.8%+2.1%+24.0%+13.7%−4.1%+5.9%+24.0%
DGT State Street SPDR Global Dow ETF5 of 17+30.0%+14.1%+21.0%−8.0%+21.5%+9.7%+22.2%−9.7%+24.9%+10.8%−4.2%+2.5%+26.2%+14.8%−12.1%+4.9%+23.1%
VTI Vanguard Morningstar Total Stock Market ETF12 of 17+17.1%+23.8%+26.0%−19.5%+25.7%+21.1%+30.7%−5.2%+21.2%+12.8%+0.4%+12.5%+33.4%+16.4%+1.0%+17.4%+28.9%
URTH iShares MSCI World ETF8 of 13+21.4%+18.7%+23.9%−18.0%+22.3%+15.8%+28.1%−8.6%+22.9%+7.3%−0.6%+4.4%+26.7%————
SPGM State Street SPDR Portfolio MSCI Global Stock Market ETF4 of 13+23.6%+16.7%+21.3%−17.5%+21.1%+15.3%+26.6%−10.1%+23.3%+8.6%−2.1%+8.5%+25.4%————
AVGE Avantis All Equity Markets ETF0 of 3+20.8%+14.0%+19.1%——————————————
DFAW Dimensional - World Equity ETF0 of 2+20.2%+15.5%———————————————
ACWI iShares MSCI ACWI ETF2 of 17+22.4%+17.4%+22.3%−18.4%+18.7%+16.3%+26.6%−9.1%+24.3%+8.4%−2.2%+3.8%+22.4%+16.7%−7.8%+12.8%+32.4%
VEA Vanguard FTSE Developed Markets ETF5 of 17+35.2%+3.1%+17.9%−15.3%+11.7%+9.7%+22.6%−14.8%+26.4%+2.6%−0.4%−5.9%+21.8%+18.6%−12.3%+8.4%+27.4%
BNDW Vanguard Total World Bond ETF1 of 7+5.0%+2.4%+7.2%−12.9%−2.1%+6.2%+8.4%——————————
VXUS Vanguard Total International Stock ETF4 of 14+32.3%+5.1%+15.9%−16.1%+9.0%+10.7%+21.7%−14.4%+27.5%+4.8%−4.2%−4.7%+14.6%+18.6%———
VWO Vanguard FTSE Emerging Markets ETF6 of 17+25.6%+10.6%+9.3%−18.0%+1.3%+15.2%+20.8%−14.8%+31.5%+12.2%−15.8%0.0%−4.9%+19.2%−18.8%+19.5%+76.3%
CGGE Capital Group Global Equity ETF1 of 1+24.5%————————————————
CGGO Capital Group Global Growth Equity ETF1 of 3+21.1%+14.8%+23.5%——————————————
CGXU Capital Group International Focus Equity ETF1 of 3+26.3%+4.4%+15.7%——————————————
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Risk and diversification

How VT has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were VT's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents VT's five deepest drawdowns since it began trading in 2008, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: VT began trading on June 26, 2008, so this list cannot include the dot-com bust. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means VT fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringVT fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−50.3%−46.2%Jun 2008Mar 20099 monthsDec 201021 months
Covid crash−34.2%−33.5%Feb 2020Mar 20201 monthAug 20205 months
2022 bear market−26.4%−22.8%Nov 2021Oct 202211 monthsJan 202415 months
2011 euro debt crisis−23.8%−18.6%Apr 2011Oct 20116 monthsJan 201315 months
Late-2018 sell-off−20.0%−16.7%Jan 2018Dec 201811 monthsOct 201910 months

How did VT do in stock market crashes?

This section measures how far VT, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: VT began trading on June 26, 2008, so its row reads "Not yet trading" for the dot-com bust or the 2008 financial crisis. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than VT.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
VT This pageVanguard Total World Stock ETF—−3.3%−26.2%−34.1%−17.8%−6.2%−17.2%−21.8%−0.7%Not yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF3 of 8−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
IOO iShares Global 100 ETF6 of 8−2.1%−23.5%−31.0%−16.9%−6.1%−14.3%−20.7%−0.6%−55.9%—
DGT State Street SPDR Global Dow ETF3 of 8−3.5%−25.2%−33.7%−16.7%−6.6%−18.9%−22.5%0.0%−55.4%—
VTI Vanguard Morningstar Total Stock Market ETF3 of 8−4.0%−25.2%−35.0%−20.0%−6.3%−14.1%−19.5%−1.9%−55.5%—
URTH iShares MSCI World ETF1 of 6−3.2%−26.1%−34.0%−18.2%−6.3%−16.3%————
SPGM State Street SPDR Portfolio MSCI Global Stock Market ETF0 of 6−3.3%−25.9%−33.7%−17.6%−7.0%−17.6%————
AVGE Avantis All Equity Markets ETF0 of 1−4.9%—————————
ACWI iShares MSCI ACWI ETF1 of 8−3.1%−26.4%−33.3%−17.3%−6.3%−16.7%−22.1%−1.4%——
VEA Vanguard FTSE Developed Markets ETF3 of 8−2.5%−28.8%−34.1%−17.1%−5.9%−19.9%−23.1%−0.2%−60.7%—
BNDW Vanguard Total World Bond ETF4 of 40.0%−14.1%−7.5%−0.9%——————
VXUS Vanguard Total International Stock ETF3 of 7−2.5%−28.4%−33.4%−15.1%−6.1%−20.2%−24.2%———
VWO Vanguard FTSE Emerging Markets ETF4 of 8−2.7%−27.9%−30.6%−11.3%−6.8%−23.8%−27.9%0.0%−67.7%—
CGGO Capital Group Global Growth Equity ETF1 of 1−2.4%—————————
CGXU Capital Group International Focus Equity ETF0 of 1−3.7%—————————
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How closely does VT move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares VT with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than VT's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
VT This pageVanguard Total World Stock ETF90%98%0.920.94
IOO iShares Global 100 ETF100%93%1.080.93
DGT State Street SPDR Global Dow ETF90%90%0.990.88
VTI Vanguard Morningstar Total Stock Market ETF100%103%0.971.02
URTH iShares MSCI World ETF93%99%0.930.95
SPGM State Street SPDR Portfolio MSCI Global Stock Market ETF90%97%0.930.93
ACWI iShares MSCI ACWI ETF90%97%0.930.93
VEA Vanguard FTSE Developed Markets ETF81%96%0.840.86
VXUS Vanguard Total International Stock ETF76%91%0.840.82
VWO Vanguard FTSE Emerging Markets ETF63%75%0.840.69
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What diversifies VT?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with VT's. Because such investments tend not to fall at the same time, pairing VT with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which VT lost money. The last two columns show a portfolio that is 80% VT and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202220182015201180/20 mix volatility80/20 mix annual return
VT Vanguard Total World Stock ETF (this page)1.00+63.3%0.69−18.0%−9.8%−1.9%−7.5%14.9%+11.3%
GLD CommoditiesSPDR Gold Shares0.29+126%0.96−0.8%−1.9%−10.7%+9.6%13.3%+13.0%
XLE EnergyState Street Energy Select Sector SPDR ETF0.30+177%0.93+64.4%−18.2%−21.5%+2.8%14.4%+14.2%
AMLP EnergyAlerian MLP ETF0.44+111%0.89+25.5%−12.6%−25.7%+10.2%14.0%+13.0%
DBMF AlternativesiMGP DBi Managed Futures Strategy ETF-0.29+59.7%0.82+21.6%———11.5%+11.5%
DBA AlternativesInvesco DB Agriculture Fund0.19+66.4%0.81+2.5%−8.7%−17.2%−10.7%12.6%+11.5%
GDX MaterialsVanEck Gold Miners ETF0.40+181%0.73−9.0%−8.8%−24.7%−16.1%16.5%+15.2%
USO CommoditiesUnited States Oil Fund, LP-0.04+176%0.73+29.0%−19.6%−46.0%−2.3%13.9%+14.9%
FLSP AlternativesFranklin Systematic Style Premia ETF0.03+49.8%0.68+0.5%———12.1%+11.0%

Stocks

InvestmentCorrelation5Y returnSharpe202220182015201180/20 mix volatility80/20 mix annual return
VT Vanguard Total World Stock ETF (this page)1.00+63.3%0.69−18.0%−9.8%−1.9%−7.5%14.9%+11.3%
CAH Medical - DistributionCardinal Health, Inc.0.31+479%1.55+54.1%−24.5%+12.6%+8.1%14.5%+16.8%
CLS Hardware, Equipment & PartsCelestica Inc.0.48+3,143%1.47+1.3%−16.3%−6.0%−24.4%20.3%+29.1%
MCK Medical - DistributionMcKesson Corporation0.17+413%1.44+51.8%−28.4%−4.5%+11.8%13.7%+16.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.27+690%1.41+86.6%−8.2%+17.4%—15.0%+18.9%
ATI Manufacturing - Metal FabricationATI Inc.0.41+1,008%1.34+87.5%−9.8%−66.7%−12.2%18.0%+21.8%
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Common questions

What was VT's worst drawdown?

VT's deepest decline since it began trading in 2008 was 50.3%, from June 2008 to March 2009. It took 21 months from the low to climb back to its old high. Because VT launched in June 2008, that record does not include the dot-com bust.

What were VT's best and worst years?

Over 17 full calendar years, VT's best year was 2009, when it returned 32.6%. Its worst was 2022, with a return of -18.0%.

Is there a better investment than VT?

Among VT's popular alternatives, DGT earned more than VT with less volatility over the past 5 years: 13.8% a year at 15.1% volatility, against 10.3% a year at 16.2%. A cheaper fund that has kept up over the past decade is VTI (0.03% a year against 0.06%).

Is VT more volatile than the S&P 500?

No. VT's volatility over the past 5 years was 16.2%, 95% of the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VT's return lands within 16.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is VT's Sharpe ratio?

VT's Sharpe ratio over the past 5 years was 0.69, against 0.79 for the S&P 500, so VT earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is VT with the S&P 500?

Over the past 5 years, VT's monthly returns had a correlation of 0.97 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VT instead: the lower it is, the more that option would diversify a VT holding.

What are the best alternatives to VT?

Of the 15 popular alternatives we compared, four outperformed VT in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: IOO, DGT and VTI.

Did VT outperform the S&P 500?

VT finished ahead of the S&P 500 (SPY) in four of 17 full calendar years. In 2025, it returned +22.4%, against +17.7% for the index.

How did VT do in stock market crashes?

VT fell less than the S&P 500 (SPY) in two of the eight major crashes it has traded through, and further in three. The clearest case was the 2015 China and oil sell-off, when VT fell 17.2% and the S&P 500 fell 12.8%.

What diversifies VT?

These had a low correlation with VT over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.29), XLE (correlation 0.30) and AMLP (correlation 0.44); among large stocks, CAH (correlation 0.31), CLS (correlation 0.48) and MCK (correlation 0.17). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to VT

Other stocks and ETFs