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VTS

$464.15-0.53%S&P 50061/100
Fund Page ↗

Vanguard US Total Market Shares Index ETF · Vanguard

Data as at 29 March 2026

TL;DR

Tracks approximately 4,000 US companies — from S&P 500 large-caps down to small-caps. The extra 3,500 smaller companies beyond the S&P 500 represent about 15% of the fund by weight.

MER (Annual Fee)
0.03%
#1 lowest in S&P 500
1Y Return
+5.3%
3Y Return (p.a.)
+17.1%
Dividend Yield
-
Non-distributing
AUM
$5,600M
Assets under management
Avg Daily Turnover
$4.2M
Avg shares × unit price
Unit Price
$464.15
As at 29 March 2026
Provider
Vanguard
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Strategy

US-domiciled fund managed by Vanguard tracking the CRSP US Total Market Index. Covers large, mid, small, and micro-cap US stocks — essentially the entire investable US sharemarket in a single fund.

Top Holdings

Apple
6.1%
Microsoft
5.5%
NVIDIA
5.3%
Amazon
3.3%
Meta
2.1%
Alphabet
2.0%
Berkshire Hathaway
1.5%
Tesla
1.2%
Broadcom
1.1%
Eli Lilly
1.0%
Key Fact

VTS holds roughly 4,000 individual US companies versus the 500 in IVV. The additional 3,500 smaller companies make up about 15% of the total weight and provide genuine small-cap diversification not available in a standard S&P 500 fund.

Suited for

Investors who want complete US market coverage including small-cap companies that are not in the S&P 500. The small and mid-cap exposure can add return over time but also adds volatility.

Risks

US-domiciled: Australian investors face potential US estate tax exposure on holdings above US$60,000 and must complete a W-8BEN form for dividend withholding tax. A rising AUD reduces AUD returns.

ETFCheck Score61/100
Fees (40%)96
Fund Size (25%)76
Liquidity (20%)20
Yield (15%)0
How scores are calculated →
Other S&P 500 ETFs
IVV
0.04% MER
89
IHVV
0.10% MER
73
USX
0.07% MER
73
SPY
0.09% MER
49View all S&P 500 ETFs →

Frequently Asked Questions - VTS

What does VTS's feeder fund structure mean for Australian investors' tax obligations?+
VTS invests into the US-domiciled Vanguard Total Stock Market ETF (VTI), creating a cross-border feeder structure. This means Australian holders may face US estate tax exposure on holdings above US$60,000 and cannot access the simplified Australian withholding tax framework. Investors must also complete a W-8BEN form for US tax treaty benefits. Despite its ultra-low 0.03% MER, this complexity leads many advisers to recommend Australian-domiciled alternatives like IVV.
How does VTS differ from IVV in terms of the companies it holds?+
VTS tracks the CRSP US Total Market Index, encompassing over 4,000 stocks across large-, mid-, small-, and micro-cap segments of the US market. IVV holds only the 500 largest US companies via the S&P 500. VTS therefore provides meaningful small- and mid-cap exposure that IVV misses, though this broader coverage delivered a slightly lower 1-year return of 18.8% versus IVV's 19.6% as mega-cap tech stocks drove most recent gains.
Is VTS suitable for SMSF portfolios given its US-domiciled structure?+
While VTS's 0.03% MER is the cheapest US equity option on the ASX, its US-domiciled feeder structure creates complications for SMSF trustees. Potential US estate tax liability, additional foreign tax reporting, and the inability to claim certain ATO offsets as simply as with Australian-domiciled ETFs add administrative burden. Many SMSF advisers recommend IVV (0.04% MER) as the marginal cost difference is negligible compared to the structural simplicity gained.
Will VTS outperform the S&P 500 if small-cap US stocks rally?+
Yes - VTS holds over 3,500 stocks beyond the S&P 500, with roughly 20-25% allocated to mid- and small-cap companies that IVV and SPY exclude entirely. In market environments where smaller companies outperform mega-caps - such as during early economic recoveries - VTS should deliver superior returns. However, in recent mega-cap-dominated rallies, VTS's 18.8% annual return has lagged IVV's 19.6% due to this broader, less concentrated weighting.