Vanguard Total Stock Market Index (VTSAX/VTI)

Vanguard Total Stock Market Index (VTSAX/VTI) is the single fund JL Collins calls the only investment you'll ever need, holding virtually every publicly traded U.S. company at an expense ratio of just 0.03%. This effectively costs you only $3 annually per $10,000 invested, making it the gold standard of index investing. It outperforms #2 VFIAX in diversification by including over 3,600 small- and mid-cap stocks alongside the S&P 500 giants, giving it a broader market capture that historically adds about 0.5% extra annual return over long horizons.