Inflation-Adjusted Vanguard Total Stock Market ETF (VTI)

The Vanguard Total Stock Market ETF (VTI) offers broad exposure to the entire US equity market, tracking the performance of the CRSP US Total Market Index.

To accurately assess an asset's growth, it's essential to look beyond nominal price increases and understand its real value. This page presents the historical prices of VTI adjusted for inflation using the US Consumer Price Index, offering a clear view of its performance.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use September 2025 as the baseline (latest available CPI).

The current value of the Vanguard Total Stock Market ETF is 337.09 (as of the close of Dec 4, 2025), 0.25% lower than the all-time high of 337.95 (Oct 28, 2025).

Since June 15, 2001, the inflation-adjusted total return for the ETF has been 410.29%, which is equivalent to an annual growth rate of 6.89%.

In nominal values, the total return since this date has been 831.14%, or an annualized rate of 9.55%.

Inflation-Adjusted Values by Month

This data presents the ETF's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power (based on the latest CPI data). The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date	Inflation-Adjusted	Nominal value
Dec 2025	337.09	337.09
Nov 2025	336.31	336.31
Oct 2025	335.42	335.42
Sep 2025	328.17	328.17
Aug 2025	318.13	317.32
Jul 2025	311.71	310.03
Jun 2025	305.19	303.09
May 2025	291.2	288.21
Apr 2025	274.64	271.25
Mar 2025	277.53	273.26
Feb 2025	295.46	290.25
Jan 2025	302.48	295.84
Dec 2024	295.5	287.13
Nov 2024	304.88	296.14
Oct 2024	285.58	277.54
Sep 2024	288.07	279.65
Aug 2024	282.79	274.08
Jul 2024	277.12	268.36
Jun 2024	272.29	263.38
May 2024	264.25	255.52
Apr 2024	252.66	243.91
Mar 2024	265.17	254.99
Feb 2024	258.46	246.94
Jan 2024	246.97	234.52
Dec 2023	245.58	231.93
Nov 2023	233	220.27
Oct 2023	212.52	201.31
Sep 2023	218.21	206.79
Aug 2023	229.79	217.22
Jul 2023	235.34	221.49
Jun 2023	227.46	213.67
May 2023	213.81	200.2
Apr 2023	213.44	199.35
Mar 2023	212.23	197.22
Feb 2023	207.32	192.03
Jan 2023	213.61	196.75
Dec 2022	201.37	184.01
Nov 2022	213.25	195.46
Oct 2022	202.56	185.85
Sep 2022	188.12	171.91
Aug 2022	207.7	189.39
Jul 2022	215.67	196.73
Jun 2022	197.21	179.91
May 2022	217.85	196.05
Apr 2022	220.81	196.55
Mar 2022	244.36	216.3
Feb 2022	239.8	209.47
Jan 2022	248.16	214.81
Dec 2021	266.39	228.67
Nov 2021	257.45	220.31
Oct 2021	262.55	223.58
Sep 2021	248.14	209.56
Aug 2021	260.44	219.36
Jul 2021	253.73	213.26
Jun 2021	250.59	209.62
May 2021	246.8	204.55
Apr 2021	247.65	203.62
Mar 2021	237.71	193.86
Feb 2021	230.97	187.03
Jan 2021	225.17	181.34
Dec 2020	226.88	181.95
Nov 2020	216.96	173.82
Oct 2020	193.93	155.47
Sep 2020	197.87	158.56
Aug 2020	205.42	164.38
Jul 2020	192.39	153.48
Jun 2020	182.86	145.14
May 2020	179.74	141.88
Apr 2020	170.54	134.62
Mar 2020	149.73	118.99
Feb 2020	173.5	138.18
Jan 2020	189.11	150.2
Dec 2019	189.96	150.29
Nov 2019	184.61	146.19
Oct 2019	177.78	140.86
Sep 2019	174.51	137.95
Aug 2019	171.6	135.54
Jul 2019	175.24	138.43
Jun 2019	173.09	136.5
May 2019	161.68	127.48
Apr 2019	173.2	136.27
Mar 2019	167.54	131.12
Feb 2019	166.13	129.29
Jan 2019	161.1	124.85
Dec 2018	148.71	115.03
Nov 2018	163.22	126.65
Oct 2018	159.46	124.15
Sep 2018	172.53	134.09
Aug 2018	172.39	133.83
Jul 2018	166.76	129.39
Jun 2018	161.42	125.23
May 2018	160.55	124.36
Apr 2018	156.94	121.07
Mar 2018	156.86	120.52
Feb 2018	160.37	122.94
Jan 2018	167.39	127.74
Dec 2017	159.93	121.39
Nov 2017	158.01	120
Oct 2017	153.37	116.47
Sep 2017	150.01	114
Aug 2017	147.22	111.28
Jul 2017	147.44	111.12
Jun 2017	144.62	109.07
May 2017	143.39	108.05
Apr 2017	142.08	106.96
Mar 2017	141	105.84
Feb 2017	141.04	105.78
Jan 2017	136.44	102.01
Dec 2016	134.74	100.15
Nov 2016	132.16	98.21
Oct 2016	126.29	93.99
Sep 2016	129.28	96.09
Aug 2016	129.33	95.9
Jul 2016	129.18	95.71
Jun 2016	124.04	92.05
May 2016	124.12	91.8
Apr 2016	122.49	90.23
Mar 2016	122.27	89.64
Feb 2016	114.65	83.69
Jan 2016	114.75	83.7
Dec 2015	121.92	88.78
Nov 2015	124.14	90.71
Oct 2015	123.14	90.17
Sep 2015	114.06	83.56
Aug 2015	117.32	86.08
Jul 2015	124.75	91.66
Jun 2015	122.67	90.13
May 2015	125.2	91.67
Apr 2015	124.23	90.49
Mar 2015	123.72	89.94
Feb 2015	125.92	91
Jan 2015	119.6	86.06
Dec 2014	122.39	88.48
Nov 2014	121.74	88.52
Oct 2014	118.16	86.37
Sep 2014	114.71	84.07
Aug 2014	117.26	85.87
Jul 2014	112.4	82.44
Jun 2014	114.64	84.12
May 2014	111.92	81.98
Apr 2014	110	80.29
Mar 2014	110.29	80.24
Feb 2014	110.44	79.83
Jan 2014	105.71	76.13
Dec 2013	109.57	78.62
Nov 2013	106.65	76.53
Oct 2013	103.63	74.52
Sep 2013	99.14	71.47
Aug 2013	95.53	68.79
Jul 2013	98.64	70.94
Jun 2013	93.31	67.08
May 2013	94.9	68.06
Apr 2013	92.8	66.44
Mar 2013	91.24	65.39
Feb 2013	88.01	62.91
Jan 2013	87.61	62.11
Dec 2012	83.35	58.92
Nov 2012	82.07	58.17
Oct 2012	81.05	57.72
Sep 2012	82.51	58.79
Aug 2012	80.87	57.36
Jul 2012	79.18	55.85
Jun 2012	78.36	55.36
May 2012	75.21	53.21
Apr 2012	80.1	56.75
Mar 2012	80.86	57.11
Feb 2012	79.05	55.41
Jan 2012	76.19	53.17
Dec 2011	72.83	50.6
Nov 2011	71.95	50.11
Oct 2011	72.16	50.3
Sep 2011	64.66	45.17
Aug 2011	70.07	48.87
Jul 2011	74.81	52.04
Jun 2011	76.62	53.24
May 2011	77.94	54.22
Apr 2011	79.14	54.8
Mar 2011	77.41	53.26
Feb 2011	77.84	53.04
Jan 2011	75.44	51.15
Dec 2010	74.27	50.12
Nov 2010	69.56	46.86
Oct 2010	69.24	46.62
Sep 2010	66.64	44.82
Aug 2010	60.92	40.95
Jul 2010	64.02	42.97
Jun 2010	59.83	40.15
May 2010	63.48	42.64
Apr 2010	68.97	46.29
Mar 2010	67.61	45.3
Feb 2010	63.81	42.58
Jan 2010	61.7	41.16
Dec 2009	64.2	42.69
Nov 2009	62.31	41.5
Oct 2009	58.99	39.27
Sep 2009	60.65	40.33
Aug 2009	58.28	38.73
Jul 2009	56.32	37.34
Jun 2009	52.19	34.66
May 2009	52.45	34.53
Apr 2009	49.87	32.74
Mar 2009	45.05	29.5
Feb 2009	41.71	27.25
Jan 2009	46.85	30.45
Dec 2008	51.17	33.12
Nov 2008	49.76	32.55
Oct 2008	53.06	35.38
Sep 2008	63.65	42.88
Aug 2008	70.04	47.24
Jul 2008	68.75	46.56
Jun 2008	69.55	46.86
May 2008	76.46	51
Apr 2008	75.58	49.99
Mar 2008	72.5	47.66
Feb 2008	73.79	48.09
Jan 2008	75.9	49.32
Dec 2007	81.29	52.57
Nov 2007	81.8	52.93
Oct 2007	86.19	55.44
Sep 2007	84.85	54.47
Aug 2007	81.93	52.45
Jul 2007	80.6	51.69
Jun 2007	83.53	53.58
May 2007	85.19	54.54
Apr 2007	82.64	52.59
Mar 2007	79.96	50.55
Feb 2007	79.79	49.99
Jan 2007	81.54	50.82
Dec 2006	80.3	49.89
Nov 2006	79.47	49.3
Oct 2006	77.54	48.18
Sep 2006	74.49	46.53
Aug 2006	72.49	45.51
Jul 2006	71	44.48
Jun 2006	71.29	44.54
May 2006	71.34	44.48
Apr 2006	74.08	45.96
Mar 2006	74.01	45.52
Feb 2006	72.92	44.61
Jan 2006	72.91	44.51
Dec 2005	71.17	43.12
Nov 2005	70.87	43.12
Oct 2005	67.2	41.22
Sep 2005	68.96	42.21
Aug 2005	69.25	41.88
Jul 2005	70.37	42.34
Jun 2005	67.73	40.56
May 2005	67.26	40.26
Apr 2005	64.68	38.75
Mar 2005	66.58	39.63
Feb 2005	68.38	40.38
Jan 2005	67.37	39.56
Dec 2004	69.25	40.57
Nov 2004	66.71	39.23
Oct 2004	63.72	37.45
Sep 2004	62.93	36.79
Aug 2004	62.02	36.18
Jul 2004	62.01	36.16
Jun 2004	64.2	37.5
May 2004	63.12	36.75
Apr 2004	62.58	36.22
Mar 2004	64.21	37.05
Feb 2004	65.29	37.43
Jan 2004	64.74	36.92
Dec 2003	63.4	35.98
Nov 2003	60.9	34.59
Oct 2003	59.84	34.08
Sep 2003	56.36	32.14
Aug 2003	57.15	32.48
Jul 2003	56.03	31.72
Jun 2003	54.81	31
May 2003	54	30.51
Apr 2003	50.94	28.83
Mar 2003	46.8	26.54
Feb 2003	46.73	26.34
Jan 2003	47.83	26.76
Dec 2002	49.41	27.52
Nov 2002	51.93	28.99
Oct 2002	48.99	27.35
Sep 2002	45.65	25.44
Aug 2002	50.87	28.3
Jul 2002	50.65	28.09
Jun 2002	55.32	30.64
May 2002	59.45	32.91
Apr 2002	60.31	33.38
Mar 2002	63.47	34.94
Feb 2002	61.57	33.7
Jan 2002	62.91	34.3
Dec 2001	63.61	34.61
Nov 2001	62.46	34.11
Oct 2001	57.94	31.7
Sep 2001	56.59	31.06
Aug 2001	62.25	34.02
Jul 2001	66.12	36.13
Jun 2001	67.22	36.84

Returns from Investing in the Vanguard Total Stock Market ETF

How much did an investment in the VTI ETF really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for the Vanguard Total Stock Market ETF by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the ETF nominally increased, as in 2015.

Year	Inflation-Adjusted Return	Nominal Return
2024	20.33%	23.8%
2023	21.95%	26.04%
2022	-24.41%	-19.53%
2021	17.41%	25.68%
2020	19.44%	21.07%
2019	27.74%	30.66%
2018	-7.02%	-5.24%
2017	18.7%	21.2%
2016	10.51%	12.81%
2015	-0.38%	0.35%
2014	11.69%	12.54%
2013	31.46%	33.44%
2012	14.44%	16.44%
2011	-1.95%	0.96%
2010	15.69%	17.42%
2009	25.47%	28.89%
2008	-37.05%	-36.99%
2007	1.23%	5.36%
2006	12.82%	15.69%
2005	2.79%	6.3%
2004	9.22%	12.77%
2003	28.32%	30.74%
2002	-22.33%	-20.48%

Vanguard Total Stock Market Etf: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for the Vanguard Total Stock Market over various trailing periods ending September 30, 2025, offering a clearer view of long-term, real investment performance.

Period	Avg. Annual Return (Inflation-Adjusted)	Avg. Annual Return (Nominal)
Last 1 year	13.92%	17.35%
Last 3 years	20.38%	24.05%
Last 5 years	10.65%	15.66%
Last 10 years	11.15%	14.66%
Last 20 years	8.11%	10.8%

Real Returns of Investing in the Vanguard Total Stock Market

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the Vanguard Total Stock Market five years ago yielded an 137.49% nominal gain, but the real return (the actual increase in buying power) was 89.14%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period	What $100 Grew To (Nominal)	Total Nominal Return (%)	Total Inflation-Adjusted Return (%)
Last 5 years Feb 2020 - Sep 2025	$237.49	137.49%	89.14%
Last 10 years Feb 2015 - Sep 2025	$360.63	260.63%	160.61%

About the Vanguard Total Stock Market ETF

The Vanguard Total Stock Market ETF (VTI) is a highly diversified exchange-traded fund designed to provide investors with comprehensive exposure to the US stock market. Launched by Vanguard in May 2001, VTI seeks to track the investment performance of the CRSP US Total Market Index, which represents approximately 100% of the investable US stock market, including large-cap, mid-cap, small-cap, and micro-cap stocks. It is a popular choice for investors seeking a low-cost, broad market-cap-weighted investment that captures the overall performance of US equities.

Last Close Dec 4, 2025	337.09
Highest Oct 28, 2025	337.95
Highest, Inflation-Adjusted Oct 28, 2025	337.95
Annualized return Since Jun 15, 2001	9.55%
Annualized return, Inflation-Adjusted Since Jun 15, 2001	6.89%