{"id":26118,"date":"2025-08-26T23:13:25","date_gmt":"2025-08-26T23:13:25","guid":{"rendered":"https:\/\/avacum.com\/?p=26118"},"modified":"2025-08-26T23:57:09","modified_gmt":"2025-08-26T23:57:09","slug":"portafolios-2025-vanguard-stock-market","status":"publish","type":"post","link":"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/","title":{"rendered":"Mejores portafolios 2025: Vanguard Total Stock Market ETF"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\"  style='background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;'><div class=\"fusion-builder-row fusion-row\"><div  class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-builder-column-0 fusion-one-full fusion-column-first fusion-column-last 1_1\"  style='margin-top:0px;margin-bottom:20px;'><div class=\"fusion-column-wrapper\" style=\"padding: 0px 0px 0px 0px;background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;\"   data-bg-url=\"\"><div class=\"fusion-text\"><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 ez-toc-wrap-left counter-flat ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Vanguard_Total_Stock_Market_ETF_analisis_riesgos_y_perspectivas_%E2%80%93_Ticker_VTI\" >Vanguard Total Stock Market ETF: an\u00e1lisis, riesgos y perspectivas &#8211; Ticker: VTI<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Resumen_del_producto\" >Resumen del producto<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Crecimiento_del_Portafolio\" >Crecimiento del Portafolio<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Rentabilidad\" >Rentabilidad<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Riesgo\" >Riesgo<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Comentarios_Avacum_sobre_el_fodo_Vanguard_Total_Stock_Market_Index\" >Comentarios Avacum sobre el fodo\u00a0Vanguard Total Stock Market Index:<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Diversificacion_Integral_con_Bajos_Costos\" >Diversificaci\u00f3n Integral con Bajos Costos<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Replicando_al_mercado_estadounidense\" >Replicando al mercado estadounidense<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#El_papel_de_las_pequenas_y_microcapitalizaciones\" >El papel de las peque\u00f1as y microcapitalizaciones<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Riesgo_de_concentracion_y_equilibrio_sectorial\" >Riesgo de concentraci\u00f3n y equilibrio sectorial<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Desempeno_y_resiliencia\" >Desempe\u00f1o y resiliencia<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Ventaja_estructural_bajos_costos\" >Ventaja estructural: bajos costos<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/avacum.com\/en\/2025\/portafolios-2025-vanguard-stock-market\/#Referencias\" >References<\/a><\/li><\/ul><\/nav><\/div>\n<h4 data-start=\"222\" data-end=\"291\"><span class=\"ez-toc-section\" id=\"Vanguard_Total_Stock_Market_ETF_analisis_riesgos_y_perspectivas_%E2%80%93_Ticker_VTI\"><\/span>Vanguard Total Stock Market ETF: an\u00e1lisis, riesgos y perspectivas &#8211; <strong>Ticker: VTI<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div  class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_2 fusion-builder-column-1 fusion-one-half fusion-column-first 1_2\"  style='margin-top:0px;margin-bottom:20px;width:50%;width:calc(50% - ( ( 4% ) * 0.5 ) );margin-right: 4%;'><div class=\"fusion-column-wrapper\" style=\"padding: 0px 0px 0px 0px;background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;\"   data-bg-url=\"\"><div class=\"imageframe-align-center\"><span style=\"-webkit-border-radius:10%;-moz-border-radius:10%;border-radius:10%;\" class=\"fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/Vanguard-stock-1.jpg\" width=\"387\" height=\"154\" alt=\"portfolio; portafolio;\" title=\"Vanguard stock 1\" class=\"img-responsive wp-image-26123\" srcset=\"https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/Vanguard-stock-1-200x80.jpg 200w, https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/Vanguard-stock-1.jpg 387w\" sizes=\"auto, (max-width: 800px) 100vw, 387px\" \/><\/span><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><div  class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_2 fusion-builder-column-2 fusion-one-half fusion-column-last 1_2\"  style='margin-top:0px;margin-bottom:20px;width:50%;width:calc(50% - ( ( 4% ) * 0.5 ) );'><div class=\"fusion-column-wrapper\" style=\"padding: 0px 0px 0px 0px;background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;\"   data-bg-url=\"\"><div class=\"imageframe-align-center\"><span style=\"-webkit-border-radius:10%;-moz-border-radius:10%;border-radius:10%;\" class=\"fusion-imageframe imageframe-none imageframe-2 hover-type-none\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/vanguard-stock.jpg\" width=\"365\" height=\"417\" alt=\"portfolio; portafolio;\" title=\"vanguard stock\" class=\"img-responsive wp-image-26122\" srcset=\"https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/vanguard-stock-200x228.jpg 200w, https:\/\/avacum.com\/wp-content\/uploads\/2025\/08\/vanguard-stock.jpg 365w\" sizes=\"auto, (max-width: 800px) 100vw, 365px\" \/><\/span><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><style type=\"text\/css\">.fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link) , .fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link):before, .fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link):after {color: #212934;}.fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link):hover, .fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link):hover:before, .fusion-fullwidth.fusion-builder-row-1 a:not(.fusion-button):not(.fusion-builder-module-control):not(.fusion-social-network-icon):not(.fb-icon-element):not(.fusion-countdown-link):not(.fusion-rollover-link):not(.fusion-rollover-gallery):not(.fusion-button-bar):not(.add_to_cart_button):not(.show_details_button):not(.product_type_external):not(.fusion-quick-view):not(.fusion-rollover-title-link):not(.fusion-breadcrumb-link):hover:after {color: #ff7700;}.fusion-fullwidth.fusion-builder-row-1 .pagination a.inactive:hover, .fusion-fullwidth.fusion-builder-row-1 .fusion-filters .fusion-filter.fusion-active a {border-color: #ff7700;}.fusion-fullwidth.fusion-builder-row-1 .pagination .current {border-color: #ff7700; background-color: #ff7700;}.fusion-fullwidth.fusion-builder-row-1 .fusion-filters .fusion-filter.fusion-active a, .fusion-fullwidth.fusion-builder-row-1 .fusion-date-and-formats .fusion-format-box, .fusion-fullwidth.fusion-builder-row-1 .fusion-popover, .fusion-fullwidth.fusion-builder-row-1 .tooltip-shortcode {color: #ff7700;}#main .fusion-fullwidth.fusion-builder-row-1 .post .blog-shortcode-post-title a:hover {color: #ff7700;}<\/style><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\"  style='background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;'><div class=\"fusion-builder-row fusion-row\"><div  class=\"fusion-layout-column fusion_builder_column fusion_builder_column_1_1 fusion-builder-column-3 fusion-one-full fusion-column-first fusion-column-last 1_1\"  style='margin-top:0px;margin-bottom:0px;'><div class=\"fusion-column-wrapper\" style=\"padding: 0px 0px 0px 0px;background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;\"   data-bg-url=\"\"><div class=\"fusion-text\"><h4 data-start=\"293\" data-end=\"318\"><span class=\"ez-toc-section\" id=\"Resumen_del_producto\"><\/span>Resumen del producto<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5 data-start=\"174\" data-end=\"206\"><span class=\"ez-toc-section\" id=\"Crecimiento_del_Portafolio\"><\/span>Crecimiento del Portafolio<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"207\" data-end=\"542\">Una inversi\u00f3n inicial de <strong data-start=\"232\" data-end=\"282\">10,000 d\u00f3lares realizada el 1 de enero de 2002<\/strong> habr\u00eda alcanzado un valor de <strong data-start=\"312\" data-end=\"353\">89,773 d\u00f3lares al 31 de julio de 2025<\/strong>, lo que equivale a un <strong data-start=\"376\" data-end=\"412\">rendimiento acumulado de 797.73%<\/strong>. En el mismo periodo, el \u00edndice de referencia habr\u00eda alcanzado los <strong data-start=\"480\" data-end=\"498\">85,337 d\u00f3lares<\/strong>, con un <strong data-start=\"507\" data-end=\"539\">retorno acumulado de 753.37%<\/strong>.<\/p>\n<h5 data-start=\"544\" data-end=\"562\"><span class=\"ez-toc-section\" id=\"Rentabilidad\"><\/span>Rentabilidad<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"563\" data-end=\"1074\">Durante este lapso, el portafolio gener\u00f3 un <strong data-start=\"607\" data-end=\"643\">rendimiento anualizado del 9.75%<\/strong>, con resultados positivos en <strong data-start=\"673\" data-end=\"708\">186 de los 283 meses analizados<\/strong>, es decir, un <strong data-start=\"723\" data-end=\"749\">65.72% de los periodos<\/strong>. En comparaci\u00f3n, el \u00edndice de referencia obtuvo un <strong data-start=\"801\" data-end=\"832\">retorno anualizado de 9.52%<\/strong>, con <strong data-start=\"838\" data-end=\"868\">185 meses positivos de 283<\/strong>, equivalente al <strong data-start=\"885\" data-end=\"905\">65.37% del total<\/strong>.<br data-start=\"906\" data-end=\"909\" \/>El mejor a\u00f1o para el portafolio fue <strong data-start=\"945\" data-end=\"953\">2013<\/strong>, con una <strong data-start=\"963\" data-end=\"985\" data-is-only-node=\"\">ganancia de 33.45%<\/strong>, mientras que el peor desempe\u00f1o se registr\u00f3 en <strong data-start=\"1033\" data-end=\"1041\">2008<\/strong>, con una ca\u00edda del <strong data-start=\"1061\" data-end=\"1071\">36.98%<\/strong>.<\/p>\n<h5 data-start=\"1076\" data-end=\"1088\"><span class=\"ez-toc-section\" id=\"Riesgo\"><\/span>Riesgo<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"1089\" data-end=\"1695\">El <strong data-start=\"1092\" data-end=\"1123\">m\u00e1ximo retroceso (drawdown)<\/strong> del portafolio alcanz\u00f3 un <strong data-start=\"1150\" data-end=\"1160\">50.84%<\/strong>, entre el <strong data-start=\"1171\" data-end=\"1224\">1 de noviembre de 2007 y el 28 de febrero de 2009<\/strong>, con un tiempo de recuperaci\u00f3n de <strong data-start=\"1259\" data-end=\"1271\">37 meses<\/strong>. En ese mismo periodo, el \u00edndice de referencia sufri\u00f3 una ca\u00edda similar del <strong data-start=\"1348\" data-end=\"1358\">50.80%<\/strong>, tambi\u00e9n con un proceso de recuperaci\u00f3n de <strong data-start=\"1402\" data-end=\"1414\">37 meses<\/strong>.<br data-start=\"1415\" data-end=\"1418\" \/>En cuanto al rendimiento ajustado por riesgo, el portafolio registr\u00f3 un <strong data-start=\"1490\" data-end=\"1518\">\u00edndice de Sharpe de 0.58<\/strong>, en l\u00ednea con el <strong data-start=\"1536\" data-end=\"1558\" data-is-only-node=\"\">0.58 del benchmark<\/strong>. Asimismo, el portafolio logr\u00f3 capturar el <strong data-start=\"1602\" data-end=\"1626\">102.93% de las alzas<\/strong> del mercado, aunque tambi\u00e9n absorbi\u00f3 el <strong data-start=\"1667\" data-end=\"1692\">102.62% de las ca\u00eddas<\/strong>.<\/p>\n<\/div><div class=\"fusion-text\"><h4 data-start=\"237\" data-end=\"317\"><span class=\"ez-toc-section\" id=\"Comentarios_Avacum_sobre_el_fodo_Vanguard_Total_Stock_Market_Index\"><\/span>Comentarios Avacum sobre el fodo\u00a0Vanguard Total Stock Market Index:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h5 data-start=\"237\" data-end=\"317\"><span class=\"ez-toc-section\" id=\"Diversificacion_Integral_con_Bajos_Costos\"><\/span>Diversificaci\u00f3n Integral con Bajos Costos<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"319\" data-end=\"669\">El <strong data-start=\"322\" data-end=\"367\">Vanguard Total Stock Market Index (VTSMX)<\/strong> se ha consolidado como una de las estrategias m\u00e1s eficientes para obtener exposici\u00f3n diversificada y rentable al mercado accionario estadounidense. Su atractivo radica en una combinaci\u00f3n poderosa: cobertura amplia, bajas comisiones y un dise\u00f1o que maximiza el potencial de crecimiento a largo plazo.<\/p>\n<h5 data-start=\"671\" data-end=\"713\"><span class=\"ez-toc-section\" id=\"Replicando_al_mercado_estadounidense\"><\/span>Replicando al mercado estadounidense<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"714\" data-end=\"1124\">El fondo sigue de manera fiel al <strong data-start=\"747\" data-end=\"777\">CRSP US Total Market Index<\/strong>, un referente que engloba pr\u00e1cticamente la totalidad del universo burs\u00e1til estadounidense con criterios de liquidez e invertibilidad. La <strong data-start=\"915\" data-end=\"958\">ponderaci\u00f3n por capitalizaci\u00f3n burs\u00e1til<\/strong> es la piedra angular de esta metodolog\u00eda, lo que le permite reflejar con precisi\u00f3n la percepci\u00f3n colectiva del mercado respecto al valor relativo de cada compa\u00f1\u00eda.<\/p>\n<p data-start=\"1126\" data-end=\"1164\">Este enfoque ofrece varias ventajas:<\/p>\n<ul data-start=\"1165\" data-end=\"1488\">\n<li data-start=\"1165\" data-end=\"1235\">\n<p data-start=\"1167\" data-end=\"1235\"><strong data-start=\"1167\" data-end=\"1195\">Baja rotaci\u00f3n de activos<\/strong>, lo que reduce costos de transacci\u00f3n.<\/p>\n<\/li>\n<li data-start=\"1236\" data-end=\"1385\">\n<p data-start=\"1238\" data-end=\"1385\"><strong data-start=\"1238\" data-end=\"1260\">Precios eficientes<\/strong>, ya que las grandes capitalizaciones, n\u00facleo de la cartera, suelen incorporar r\u00e1pidamente la nueva informaci\u00f3n disponible.<\/p>\n<\/li>\n<li data-start=\"1386\" data-end=\"1488\">\n<p data-start=\"1388\" data-end=\"1488\"><strong data-start=\"1388\" data-end=\"1416\">Simplicidad y disciplina<\/strong>, al no depender de decisiones discrecionales de selecci\u00f3n de valores.<\/p>\n<\/li>\n<\/ul>\n<h5 data-start=\"1490\" data-end=\"1544\"><span class=\"ez-toc-section\" id=\"El_papel_de_las_pequenas_y_microcapitalizaciones\"><\/span>El papel de las peque\u00f1as y microcapitalizaciones<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"1545\" data-end=\"1949\">Aunque el grueso de la cartera est\u00e1 compuesto por empresas de gran capitalizaci\u00f3n, el \u00edndice tambi\u00e9n integra compa\u00f1\u00edas de <strong data-start=\"1667\" data-end=\"1700\">peque\u00f1a y microcapitalizaci\u00f3n<\/strong>. Estas aportan diversificaci\u00f3n adicional y, en ciertos ciclos alcistas \u2014como el observado en el cuarto trimestre de 2020\u2014, han contribuido con un rendimiento superior. No obstante, su impacto es limitado, pues representan menos del 10% del total.<\/p>\n<p data-start=\"1951\" data-end=\"2168\">Para contener los costos derivados de la negociaci\u00f3n de estas acciones menos l\u00edquidas, el \u00edndice aplica reglas de amortiguaci\u00f3n y realiza rebalanceos escalonados, reduciendo as\u00ed los riesgos de impacto en el mercado.<\/p>\n<h5 data-start=\"2170\" data-end=\"2222\"><span class=\"ez-toc-section\" id=\"Riesgo_de_concentracion_y_equilibrio_sectorial\"><\/span>Riesgo de concentraci\u00f3n y equilibrio sectorial<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"2223\" data-end=\"2549\">La ponderaci\u00f3n por capitalizaci\u00f3n puede generar exposici\u00f3n elevada a determinados sectores o emisores cuando un grupo reducido de empresas lidera el crecimiento burs\u00e1til. Sin embargo, el <strong data-start=\"2410\" data-end=\"2447\">Vanguard Total Stock Market Index<\/strong> presenta una concentraci\u00f3n significativamente menor en comparaci\u00f3n con el promedio de su categor\u00eda.<\/p>\n<p data-start=\"2551\" data-end=\"2985\">Al cierre de 2024, las <strong data-start=\"2574\" data-end=\"2639\">10 principales posiciones representaban un 32% de los activos<\/strong>, frente a casi el 50% en fondos similares de gran capitalizaci\u00f3n. Adem\u00e1s, ning\u00fan sector exced\u00eda en m\u00e1s de dos puntos porcentuales el peso de sus competidores. Si bien la exposici\u00f3n al sector tecnol\u00f3gico es alta, este sesgo no es resultado de la estrategia del fondo, sino un reflejo natural de la composici\u00f3n actual del mercado estadounidense.<\/p>\n<h5 data-start=\"2987\" data-end=\"3016\"><span class=\"ez-toc-section\" id=\"Desempeno_y_resiliencia\"><\/span>Desempe\u00f1o y resiliencia<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"3017\" data-end=\"3238\">El fondo ha mostrado una trayectoria consistente en el tiempo. En los \u00faltimos <strong data-start=\"3095\" data-end=\"3128\">10 a\u00f1os hasta febrero de 2025<\/strong>, super\u00f3 al promedio de su categor\u00eda (mezcla grande de Morningstar) en <strong data-start=\"3199\" data-end=\"3235\">1,49 puntos porcentuales anuales<\/strong>.<\/p>\n<ul data-start=\"3240\" data-end=\"3607\">\n<li data-start=\"3240\" data-end=\"3307\">\n<p data-start=\"3242\" data-end=\"3307\">En fases alcistas, ha tendido a <strong data-start=\"3274\" data-end=\"3304\">superar a sus competidores<\/strong>.<\/p>\n<\/li>\n<li data-start=\"3308\" data-end=\"3458\">\n<p data-start=\"3310\" data-end=\"3458\">En mercados bajistas, sus p\u00e9rdidas han sido ligeramente mayores, como en 2020 y 2022, cuando retrocedi\u00f3 cerca de un 21% y un 25%, respectivamente.<\/p>\n<\/li>\n<li data-start=\"3459\" data-end=\"3607\">\n<p data-start=\"3461\" data-end=\"3607\">Sin embargo, su capacidad de <strong data-start=\"3490\" data-end=\"3513\">recuperaci\u00f3n r\u00e1pida<\/strong> le ha permitido mantener un rendimiento superior ajustado al riesgo frente a sus hom\u00f3logos.<\/p>\n<\/li>\n<\/ul>\n<h5 data-start=\"3609\" data-end=\"3648\"><span class=\"ez-toc-section\" id=\"Ventaja_estructural_bajos_costos\"><\/span>Ventaja estructural: bajos costos<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p data-start=\"3649\" data-end=\"4054\">El <strong data-start=\"3652\" data-end=\"3675\">pr\u00e9stamo de valores<\/strong> constituye una fuente adicional de ingresos que ayuda a compensar a\u00fan m\u00e1s los gastos operativos, especialmente con acciones de peque\u00f1a capitalizaci\u00f3n, cuyo pr\u00e9stamo suele ser m\u00e1s rentable. Esto, sumado a sus <strong data-start=\"3884\" data-end=\"3924\">comisiones extraordinariamente bajas<\/strong>, le otorga una ventaja competitiva duradera frente a otros fondos de gran capitalizaci\u00f3n en EE. UU., generalmente m\u00e1s costosos.<\/p>\n<p data-start=\"3649\" data-end=\"4054\">Referencias de Inter\u00e9s<\/p>\n<p><a href=\"https:\/\/investor.vanguard.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/investor.vanguard.com\/<\/a><\/p>\n<p><a href=\"https:\/\/investor.vanguard.com\/investment-products\/etfs\/profile\/vti\" target=\"_blank\" rel=\"noopener\">https:\/\/investor.vanguard.com\/investment-products\/etfs\/profile\/vti<\/a><\/p>\n<p><a href=\"https:\/\/www.investing.com\/etfs\/vanguard-total-stkmkt\" target=\"_blank\" rel=\"noopener\">https:\/\/www.investing.com\/etfs\/vanguard-total-stkmkt<\/a><\/p>\n<p>https:\/\/www.wsj.com\/market-data\/quotes\/etf\/VTI?mod=searchresults_companyquotes<\/p>\n<\/div><div class=\"fusion-text\"><h5><span class=\"ez-toc-section\" id=\"Referencias\"><\/span><strong>References<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p class=\"translation-block\">If you are interested in learning more about Investment Banking services and corporate finance consulting, we can help you. Contact us at info@avacum.com and we will answer all your questions related to venture capital. If you are an entrepreneur, you may also be interested in exploring other forms and sources of private financing for startups.<\/p>\n<p><strong>P\u00e1ginas de inter\u00e9s:\u00a0<\/strong><a href=\"https:\/\/www.investing.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.investing.com\/<\/a>\u00a0<a href=\"https:\/\/www.nyse.com\/index\" target=\"_blank\" rel=\"noopener\">https:\/\/www.nyse.com\/index |\u00a0<\/a><a href=\"https:\/\/hbr.org\/\" target=\"_blank\" rel=\"noopener\">https:\/\/hbr.org\/<\/a> | <a href=\"https:\/\/www.sec.gov\/\" target=\"_blank\" rel=\"noopener\">SEC<\/a> | <a href=\"https:\/\/hbr.org\/\" target=\"_blank\" rel=\"noopener\">Harvard Business Review<\/a> | <a href=\"https:\/\/www.bloomberg.com\/\" target=\"_blank\" rel=\"noopener\">Bloomberg.com<\/a> | <a href=\"https:\/\/www.business.qld.gov.au\/running-business\/risk\/identify-manage\" target=\"_blank\" rel=\"noopener\">https:\/\/www.business.qld.gov.au\/running-business\/risk\/identify-manage<\/a><\/p>\n<p><strong>Finanzas corporativas en l\u00ednea:<\/strong> <a href=\"https:\/\/avacum.com\/en\/\">https:\/\/avacum.com |<\/a><strong>\u00a0Asesoramiento en finanzas corporativas <\/strong><a href=\"https:\/\/pdv-a.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/pdv-a.com<\/a><strong>\u00a0Para una mayor informaci\u00f3n: Info@pdv-a.com<\/strong><\/p>\n<p><strong>Sobre cursos de finanzas y contenidos:\u00a0info@akademiun.com | <\/strong><a href=\"https:\/\/akademiun.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/<\/a><a href=\"https:\/\/akademiun.com\/\" target=\"_blank\" rel=\"noopener\">akademiun.com<\/a><\/p>\n<p>Otra informaci\u00f3n relevante:<\/p>\n<ul>\n<li>Informes de consultoras como <a href=\"https:\/\/www.mckinsey.com\/\" target=\"_blank\" rel=\"noopener\">McKinsey<\/a>, <a href=\"https:\/\/www.bain.com\/\" target=\"_blank\" rel=\"noopener\">Bain &amp; Company<\/a>, y <a href=\"https:\/\/www.pwc.com\/mx\/es.html\" target=\"_blank\" rel=\"noopener\">PwC<\/a> sobre tendencias globales en M&amp;A.<\/li>\n<li>Art\u00edculos acad\u00e9micos y estudios de casos publicados en revistas como\u00a0<em>H<\/em><a href=\"https:\/\/hbr.org\/\" target=\"_blank\" rel=\"noopener\"><em>arvard Business Review<\/em><\/a>y\u00a0<a href=\"https:\/\/afajof.org\/journal-of-finance\/\" target=\"_blank\" rel=\"noopener\"><em>Journal of Finance<\/em><\/a>.<\/li>\n<li>Art\u00edculos acad\u00e9micos y estudios: <a href=\"https:\/\/www.pdv-a.com\" target=\"_blank\" rel=\"noopener\">PDVa<\/a>,<\/li>\n<li>Banco de inversio\u00f3n en l\u00ednea: <a href=\"https:\/\/avacum.com\/en\/\">Avacum<\/a><\/li>\n<li>Curso de finanzas en l\u00ednea: <a href=\"https:\/\/vosverum.com\/\" target=\"_blank\" rel=\"noopener\">Vosverum<\/a>.<\/li>\n<li>Base de datos e informaci\u00f3n: <a href=\"http:\/\/www.investing.com\" target=\"_blank\" rel=\"noopener\">Investing<\/a>, <a href=\"https:\/\/www.bloomberg.com\/\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>,\u00a0 <a href=\"https:\/\/web-archive.oecd.org\/espanol\/index.htm\" target=\"_blank\" rel=\"noopener\">OCDE<\/a>, <a href=\"https:\/\/www.imf.org\/en\/Home\" target=\"_blank\" rel=\"noopener\">International Monetary Fund<\/a>,<\/li>\n<\/ul>\n<p class=\"translation-block\">If you are interested in learning more about Investment Banking services and corporate finance consulting, we can help you. Contact us at info@avacum.com and we will answer all your questions related to venture capital. If you are an entrepreneur, you may also be interested in exploring other forms and sources of private financing for startups.<\/p>\n<p><strong><u>Art\u00edculos de Finanzas personales<\/u><\/strong><\/p>\n<p><a href=\"https:\/\/vosverum.com\/2023\/adquirir-tu-primer-automovil\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vosverum.com\/2023\/adquirir-tu-primer-automovil\/<\/a><\/p>\n<p><a href=\"https:\/\/vosverum.com\/2023\/proceso-de-adquisicion-de-un-inmueble\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vosverum.com\/2023\/proceso-de-adquisicion-de-un-inmueble\/<\/a><\/p>\n<p><a href=\"https:\/\/vosverum.com\/2023\/gestion-finanzas-personales-estabilidad\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vosverum.com\/2023\/gestion-finanzas-personales-estabilidad\/<\/a><\/p>\n<p><a href=\"https:\/\/vosverum.com\/2021\/finanzas-personales-objetivos\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vosverum.com\/2021\/finanzas-personales-objetivos\/<\/a><\/p>\n<p><a href=\"https:\/\/vosverum.com\/2021\/finanzas-personales-punto-de-partida\/\" target=\"_blank\" rel=\"noopener\">https:\/\/vosverum.com\/2021\/finanzas-personales-punto-de-partida\/<\/a><\/p>\n<p>Ligas Inter\u00e9s: Finanzas Personales<\/p>\n<p><a href=\"https:\/\/www.khanacademy.org\/college-careers-more\/personal-finance\" target=\"_blank\" rel=\"noopener\">https:\/\/www.khanacademy.org\/college-careers-more\/personal-finance<\/a><\/p>\n<p><a href=\"https:\/\/edu.gcfglobal.org\/en\/moneybasics\/\" target=\"_blank\" rel=\"noopener\">https:\/\/edu.gcfglobal.org\/en\/moneybasics\/<\/a><\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":25573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":{"telephone":"+525525338703"},"footnotes":""},"categories":[225,713],"tags":[553,714,715,555],"class_list":["post-26118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-educacion-financiera","category-mercados-financieros","tag-mercados-financieros","tag-portafolios","tag-portfolios","tag-trading"],"_links":{"self":[{"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/posts\/26118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/comments?post=26118"}],"version-history":[{"count":12,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/posts\/26118\/revisions"}],"predecessor-version":[{"id":26132,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/posts\/26118\/revisions\/26132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/media\/25573"}],"wp:attachment":[{"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/media?parent=26118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/categories?post=26118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/avacum.com\/en\/wp-json\/wp\/v2\/tags?post=26118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}