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If you really just want one, you may want to look at VT as a total world index. People like VTI or VOO and VXUS because it lets you choose your international exposure.
One important point of clarification. VTI, VOO, VXUS, and VT are all ETFs, not mutual funds. Though they all have mutual fund equivalents. There are some distinctions, though for Vanguard’s ETFs and mutual funds that track the same thing, the difference is essentially if you can auto invest and if you can buy fractional shares.
If some reason I could only invest in one ETF it would be VT
You’d probably end up with a good run doing VTI and VXUS. Something like an 80/20 or 75/25 split is safe. If you have a long-term time horizon, don’t worry about timing the market in terms of pricing. Even if there is a dip, long-term it won’t matter too much
That is just my go to. Having some international exposure is good but more than 20/25 percent of the portfolio is a lot. Right now I’ve got a little below 20% in foreign assets but depending on what research you are looking at, could justify more or less