How the Largest US ETFs Performed in September

Each month, we check on how the largest US stock, bond, and active exchange-traded funds have performed.

The Morningstar US Market Index rose 2.1% during September and is up 35.6% over the past year. The Morningstar US Core Bond Index rose 1.32% last month and is up 11.39% over the past year.

In the global markets, stocks gained 2.35% during September, as measured by the Morningstar Global Markets Index. Bonds rose 1.64%, as measured by the Morningstar Global Core Bond Index. Over the past year, global stocks are up 31.51% and bonds are up 11.62%.

Largest US Stock ETF Performance

Among the 10 largest US stock ETFs, last month’s top performer was the $453.3 billion Vanguard Total Intl Stock Idx Fund, which gained 2.56%. The bottom performer was the $204.3 billion Vanguard Developed Markets Index Fund, which gained 0.99%.

Here’s more about the performance of the largest US stock ETFs.

Vanguard Total Stock Market Index Fund

• Morningstar Medalist Rating: Gold
• Morningstar Category: Large Blend

The $1.7 trillion Vanguard Total Stock Market Index Fund rose 2.05% in September. That beat the 1.8% gain on the average fund in the large blend category, leaving the fund in the 38th percentile for performance. Over the past year, the Vanguard fund rose 35.25%, while the average fund in its category rose 32.90%. The fund, which launched in May 2001, has climbed 10.12% over the past three years and 15.18% over the past five years.

Vanguard 500 Index Fund

• Morningstar Medalist Rating: Gold
• Morningstar Category: Large Blend

The Vanguard 500 Index Fund gained 2.13% in September, outperforming the average fund in the large blend category, which rose 1.80%. The $1.2 trillion fund has gained 36.32% over the past year, while the average fund in its category is up 32.90%. The Vanguard fund, which launched in September 2010, has climbed 11.87% over the past three years and 15.93% over the past five years.

SPDR S&P 500 ETF Trust

• Morningstar Medalist Rating: Silver
• Morningstar Category: Large Blend

In September, the SPDR S&P 500 ETF Trust rose 2.12%, while the average large blend fund gained 1.80%. The fund placed in the 27th percentile for performance. The $584.2 billion fund has climbed 36.16% over the past year, outperforming the average fund in its category, which rose 32.90%. The State Street fund, which launched in January 1993, has climbed 11.82% over the past three years and 15.89% over the past five years.

iShares Core S&P 500 ETF

• Morningstar Medalist Rating: Gold
• Morningstar Category: Large Blend

The iShares Core S&P 500 ETF gained 2.13% in September, outperforming the average fund in the large blend category, which rose 1.80%. The $527.9 billion fund has gained 36.31% over the past year, while the average fund in its category is up 32.90%. The iShares fund, which launched in May 2000, has climbed 11.88% over the past three years and 15.94% over the past five years.

Vanguard Total Intl Stock Idx Fund

• Morningstar Medalist Rating: Gold
• Morningstar Category: Foreign Large Blend

In September, the Vanguard Total Intl Stock Idx Fund rose 2.56%, while the average foreign large blend fund gained 1.27%. The fund placed in the 9th percentile for performance. The $453.3 billion fund has climbed 24.92% over the past year, performing roughly in line with the average fund in its category, which rose 24.15%. The Vanguard fund, which launched in January 2011, has climbed 4.04% over the past three years and 7.79% over the past five years.

Largest US Bond ETF Performance

Among the 10 largest US bond ETFs, last month’s top performer was the $61 billion iShares 20+ Year Treasury Bond ETF, which gained 1.89%. The bottom performer was the $59 billion Vanguard Short-Term Bond Index Fund, which gained 0.92%.

Here’s more about the performance of the largest US bond ETFs.

Vanguard Total Bond Market Index Fund

• Morningstar Medalist Rating: Gold
• Morningstar Category: Intermediate Core Bond

The $336.4 billion Vanguard Total Bond Market Index Fund rose 1.34% in September. That gain was roughly in line with the 1.29% gain on the average fund in the intermediate core bond category, leaving the fund in the 40th percentile for performance. Over the past year, the Vanguard fund rose 11.46%, while the average fund in its category rose 11.57%. The fund, which launched in April 2007, has dropped 1.40% over the past three years and gained 0.33% over the past five years.

iShares Core US Aggregate Bond ETF

• Morningstar Medalist Rating: Gold
• Morningstar Category: Intermediate Core Bond

The $120.2 billion iShares Core US Aggregate Bond ETF rose 1.34% in September. The gain on the fund was roughly in line with the 1.29% gain on the average fund in the intermediate core bond category, leaving it in the 42nd percentile for performance. Over the past year, the iShares fund rose 11.55%, while the average fund in its category rose 11.57%. The fund, which launched in September 2003, has dropped 1.39% over the past three years and gained 0.31% over the past five years.

Vanguard Total International Bond Index Fund

• Morningstar Medalist Rating: Silver
• Morningstar Category: Global Bond-USD Hedged

The Vanguard Total International Bond Index Fund gained 1.39% in September, outperforming the average fund in the global bond-USD hedged category, which rose 1.17%. The $96.3 billion fund has gained 10.36% over the past year, while the average fund in its category is up 10.90%. The Vanguard fund, which launched in May 2013, has dropped 0.65% over the past three years and 0.15% over the past five years.

iShares 20+ Year Treasury Bond ETF

• Morningstar Medalist Rating: Bronze
• Morningstar Category: Long Government

In September, the iShares 20+ Year Treasury Bond ETF rose 1.89%, while the average long government fund gained 1.81%. The fund placed in the 60th percentile for performance. The $61 billion fund has climbed 15.07% over the past year, performing roughly in line with the average fund in its category, which rose 14.71%. The iShares fund, which launched in July 2002, has dropped 9.45% over the past three years and 4.99% over the past five years.

Vanguard Short-Term Bond Index Fund

• Morningstar Medalist Rating: Silver
• Morningstar Category: Short-Term Bond

In September, the Vanguard Short-Term Bond Index Fund rose 0.92%, while the average short-term bond fund gained 0.90%. The fund placed in the 39th percentile for performance. The $59 billion fund has climbed 8.06% over the past year, underperforming the average fund in its category, which rose 8.71%. The Vanguard fund, which launched in April 2007, has climbed 0.92% over the past three years and 1.51% over the past five years.

Largest US Active ETF Performance

While passive ETFs have portfolios whose holdings are designed to track the performance of an index, active ETFs have managers who make the decisions about which investments to own. Like index-tracking ETFs, active ETFs trade on an exchange and are typically lower-cost and more tax-efficient than traditional actively managed mutual funds.

Among the 10 largest US active ETFs, last month’s top performer was the $16.6 billion JPMorgan Nasdaq Equity Premium Income ETF, which gained 2.62%. The bottom performer was the $13.6 billion Avantis US Small Cap Value ETF, which gained 0.42%.

Here’s more about the performance of the largest US active ETFs.

JPMorgan Equity Premium Income ETF

• Morningstar Medalist Rating: Bronze
• Morningstar Category: Derivative Income

The $35.8 billion JPMorgan Equity Premium Income ETF rose 1.81% in September. The fund lagged its benchmark, the S&P 500 Index, by 0.32 percentage points. Over the past year, the JPMorgan fund rose 19.82%. The fund, which launched in May 2020, has gained 9.36% over the past three years.

Dimensional US Core Equity 2 ETF

• Morningstar Medalist Rating: Gold
• Morningstar Category: Large Blend

The $31 billion Dimensional US Core Equity 2 ETF rose 1.67% in September. That gain was shy of the 1.80% gain on the average fund in the large blend category, leaving the fund in the 66th percentile for performance. The fund lagged its benchmark, the Russell 3000 Index, by 0.4 percentage points.

Over the past year, the Dimensional fund rose 32.39%, while the average fund in its category rose 32.90%. The fund, which launched in October 2007, has climbed 10.38% over the past three years and 14.63% over the past five years.

JPMorgan Ultra-Short Income ETF

• Morningstar Medalist Rating: Silver
• Morningstar Category: Ultrashort Bond

The $26.1 billion JPMorgan Ultra-Short Income ETF rose 0.58% in September. The fund beat its benchmark, the ICE BofA 0-3 Month US Treasury Bill Index, by 0.16 percentage points. Over the past year, the JPMorgan fund rose 6.53%. The fund, which launched in May 2017, has climbed 3.54% over the past three years and gained 2.75% over the past five years.

JPMorgan Nasdaq Equity Premium Income ETF

• Morningstar Medalist Rating: Neutral
• Morningstar Category: Derivative Income

The $16.6 billion JPMorgan Nasdaq Equity Premium Income ETF rose 2.62% in September. The fund performed roughly in line with its benchmark, the NASDAQ 100 Index. Over the past year, the JPMorgan fund rose 29.30%. The fund was launched in May 2022.

Avantis US Small Cap Value ETF

• Morningstar Medalist Rating: Silver
• Morningstar Category: Small Value

In September, the Avantis US Small Cap Value ETF rose 0.42%, while the average small value fund gained 0.20%. The fund placed in the 40th percentile for performance and beat its benchmark, the Russell 2000 Value Index, by 0.35 percentage points.

The $13.6 billion fund has climbed 25.27% over the past year, outperforming the average fund in its category, which rose 22.72%. The American Century fund, which launched in September 2019, has climbed 10.28% over the past three years and 15.76% over the past five years.