VOO vs SPY (2026)
Vanguard S&P 500 ETF and SPDR S&P 500 ETF Trust side by side. VOO is the cheaper fund (0.03% vs 0.09% expense ratio). Over the last five years VOO returned more (+76.00% vs +75.77%, total return). Their portfolios overlap by about 100% of weight. Not investment advice.
Fund facts#
| VOO | SPY | |
|---|---|---|
| Focus | S&P 500 | S&P 500 |
| Expense ratio | 0.03% | 0.09% |
| AUM | — | $656B |
| Distribution yield | 1.03% | 0.97% |
| Holdings | 502 | 500 |
| 1 month return | +3.4% | +3.5% |
| YTD return | +14.3% | +14.4% |
| 1 year return | +21.6% | +21.6% |
| 3 years return | +80.0% | +79.7% |
| 5 years return | +86.6% | +86.1% |
| 10 years return | +319.2% | +316.6% |
| 3Y CAGR | +21.7%/yr | +21.6%/yr |
| 5Y CAGR | +13.3%/yr | +13.2%/yr |
| 10Y CAGR | +15.4%/yr | +15.3%/yr |
| Issuer | Vanguard | State Street |
| Inception | 2010-09-07 | 1993-01-22 |
All returns are total returns (dividends reinvested), from daily adjusted closes. CAGR = compound annual growth rate. '—' means the fund's history doesn't span the horizon.
Annualized returns (CAGR)#
Compound annual growth rate per holding period, total return, from weekly adjusted closes. Horizons a fund's history can't span show no bar; horizons no fund spans are omitted.
Performance, rebased#
Returns by year#
| Year | VOO | SPY |
|---|---|---|
| 2017 | +21.8% | +21.7% |
| 2018 | -4.5% | -4.6% |
| 2019 | +31.4% | +31.2% |
| 2020 | +18.3% | +18.3% |
| 2021 | +28.8% | +28.7% |
| 2022 | -18.2% | -18.2% |
| 2023 | +26.3% | +26.2% |
| 2024 | +25.0% | +24.9% |
| 2025 | +17.8% | +17.7% |
| 2026 YTD | +14.3% | +14.4% |
Total returns (dividends reinvested), calendar years.
Returns by year, charted#
Holdings overlap#
VOO and SPY overlap by about 100% of portfolio weight — 500 shared holdings out of 502 in VOO and 500 in SPY, from each fund's latest SEC filing (Mar 31, 2026 / Mar 31, 2026).
Only in VOO
Vanguard Cmt Funds-Vanguard Market Liquidity Fund (0.3%), ABIOMED Inc (0.0%)
Only in SPY
None — every SPY holding is also in the other fund.
Top 10 holdings, side by side#
Merged top 10 across the funds — each column is the holding's % of that fund.
Sector weights#
| Sector | VOO | SPY |
|---|---|---|
| Technology | 37.3% | 37.3% |
| Financials | 11.9% | 12.1% |
| Consumer Discretionary | 11.3% | 11.3% |
| Communication Services | 9.1% | 9.1% |
| Industrials | 9.0% | 9.0% |
| Healthcare | 8.8% | 8.8% |
| Consumer Staples | 4.1% | 4.1% |
| Energy | 2.8% | 2.8% |
| Utilities | 2.7% | 2.7% |
| Real Estate | 1.7% | 1.7% |
| Materials | 0.8% | 0.8% |
Sector weights, charted#
Estimated portfolio characteristics#
| VOO | SPY | |
|---|---|---|
| P/E (trailing) | 25.7 | 25.7 |
| P/E (forward) | 18.9 | 18.9 |
| P/B | 5.3 | 5.3 |
| Dividend yield | 1.05% | 1.05% |
| Earnings growth (TTM) | +28.6% | +28.6% |
Estimated by our own bottom-up analysis of each fund's SEC-filed holdings; recomputed daily from public data.
Fund flows#
| Month | VOO | SPY |
|---|---|---|
| Mar 2026 | −$11.1B | −$10.8B |
| Feb 2026 | +$14.5B | −$5.3B |
| Jan 2026 | +$13.3B | −$13.3B |
| Dec 2025 | +$1.2B | +$13.4B |
| Nov 2025 | +$17.6B | +$5.9B |
| Oct 2025 | +$13.9B | +$4.5B |
Net creations minus redemptions per calendar month, from each fund's SEC Form N-PORT. Figures are series-level: where a fund shares its portfolio with mutual-fund share classes (Vanguard funds do), flows cover all share classes combined. Quarterly filings publish with a ~60-day lag, so recent months appear as filings land.
Fund flows, charted#
Longer ranges aggregate to quarters/years. Flow data begins mid-2019 — Form N-PORT did not exist before then, for any fund.
Growth from any starting date#
Hover to move the starting point — every fund rebases to 1× at that date, so the comparison holds from any entry point back to 2010 (the earliest date all 2 funds existed). Log scale, weekly total returns.
Hover anywhere to rebase every line to 1× at that date and compare growth from that point. Log scale.
Methodology#
Returns are total returns (dividends reinvested) from daily adjusted closes. Holdings, overlap, sector weights and flows derive from each fund's public SEC filings (Form N-PORT), anchored on the latest filing and rolled forward daily by price moves. Overlap is the sum of the smaller weight across shared holdings. See each fund's full holdings: VOO holdings · SPY holdings. Past performance does not predict future returns; not investment advice.
FAQ#
- VOO or SPY — which is better?
- VOO is the cheaper fund (0.03% vs 0.09% expense ratio). Over the last five years VOO returned more (+76.00% vs +75.77%, total return). Their portfolios overlap by about 100% of weight. The two biggest S&P 500 ETFs — a fee gap vs the deepest options liquidity in the world.
- How much do VOO and SPY overlap?
- VOO and SPY overlap by about 100% of portfolio weight, sharing 500 holdings (per each fund's latest SEC N-PORT filing, weights rolled forward to today).
- Is ChartRow affiliated with any of these funds?
- No. ChartRow is independent and not affiliated with, sponsored by, or endorsed by Vanguard, State Street. Comparisons are derived independently from public SEC filings and market data; not investment advice.