Across the two largest equity markets in the world, the long-duration compounder list leans heavily into consumer-facing and consumer-tech businesses. In the US, 52% of the top 75 compounders are C&T, accounting for 87% of the aggregate market cap in that cohort. In China — looking at the top 30 — the share is 47% by count and 64% by market cap.
Within C&T, the heavy lifting is done by three sleeves: Tech & Internet (semis, software, internet platforms), Consumer Brands (the durable food, beverage and personal-care franchises) and Lifestyle & Spending (retailers, restaurants, autos, hotels). Apple, NVIDIA, Microsoft, Amazon, Costco, Netflix sit alongside Tencent, Moutai, BYD, NetEase.
India today shows the same structural setup as the US in the 1980s and China in the 2000s. The next 20 years should look similar — and that is the VCTI thesis.
METHOD & SOURCES
Universe: top 75 listed businesses in the US and top 30 in China by market cap, each with a 20-year annualised total return greater than 15%. Returns and market caps in USD, sourced from Bloomberg (May 2026). ETFs and pooled vehicles excluded. The 6-bucket classification uses GICS sectors: Tech & Internet = Information Technology + internet/media within Communication Services; Consumer Brands = Consumer Staples; Lifestyle & Spending = Consumer Discretionary; Healthcare = all of Health Care (hospitals, pharma, devices); Finance = Financials; Industry & Resources = Industrials + Materials + Energy + Utilities + Real Estate + Telecom.
[BLOOMBERG: each ticker · CUR_MKT_CAP · EQY_INIT_PO_DT · 20-yr / 5-yr total return]