The Saints selected the 26-year-old Vaccaro out of Texas with the No. 15 overall pick in the first round of the 2013 NFL draft, and he has been a regular starter since his rookie season.
Vaccaro has been one of the few constants in New Orleans' suspect secondary, although durability has been a concern.
He missed at least one game because of injury in three of his first four seasons, including five last year when he finished with 68 combined tackles and two interceptions.
Vaccaro has five interceptions thus far in his NFL career, but he hasn't been the elite-level ball hawk New Orleans thought it was getting when it drafted him.
The Saints have been one of the league's worst teams against the pass for the past several seasons, ranking second-to-last in 2015 and last in 2016.
If the Saints do trade Vaccaro, they will have several options to step into a starting role alongside second-round rookie Marcus Williams, including Vonn Bell, Rafael Bush and Chris Banjo.