As the market goes, so goes VTI. It's simply a proxy for the overall market. It may diverge slightly on a near-term basis, but it should follow very closely what the very broad market does. It's perfect for those who are unencumbered by the thought process and just want the easiest way to get maximum diversification and liquidity. The big advantage over the open-end big brother of VTI is the ability to use limit and open (gtc) orders as opposed to having to always accept the closing price. I can find no disadvantages to using the ETF.
That's because we are in a BULL market. VTI is not a Value Stock anymore. It is now a Growth Stock Index Fund. Cha Ching!!! It was probably the least 3 -4 years ago when it was a Value Stock. Still has room to run since we are, like I said, In a Bull Market.