SPXV vs VV: Grades, Fees and Holdings Compared

ProShares S&P 500 Ex-Health Care ETF

SPXVBNYSE Arca

Vanguard Morningstar Large-Cap ETF

VVANYSE Arca

Overlap

86.7%by weight

Expense ratio

VV −0.06pt a year

SPXV0.09%VV0.03%

Avg volume · 30D

VV 347.8×the volume

SPXV642VV223K

10Y return · a year

SPXV +0.1pt

SPXV+15.5%VV+15.4%

SPXV vs VV Performance

Oct 29, 2021 – Oct 30, 2026

+79.4%SPXV+73.2%VV

Expense ratio: SPXV 0.09%; VV 0.03%, better
Fund size: SPXV $40M; VV $76B
1Y total return: SPXV +10.0%; VV +11.5%, better
Yield (12M): SPXV 0.93%; VV 1.03%, better
Holdings: SPXV 443; VV 423
Avg volume (30D): SPXV 642 sh; VV 223K sh, better
NAV per share: SPXV $81.83; VV $348.06
52W range

ETF.net Grade

Pillar letters and Scores for SPXV, VV, with each pillar’s weight
Pillar	SPXV	VV
Cost30% weight	A73	A91Higher
Mission25% weight	A95	A99Higher
Risk15% weight	D38	B55Higher
Tradability15% weight	D33	B57Higher
Holdings10% weight	C45	C51Higher
Durability5% weight	B60	A93Higher

Rank among US Large-Cap funds

How we build Categories ›

Same Category. SPXV and VV are both graded against the same 29 US Large-Cap funds, so their Grades compare head to head.

US Large-Cap⁠

Category · 29 funds

See all 29 ›

VV ranks 4th and SPXV 12th of 29 funds in the US Large-Cap Category.

Rank 1ASCHXSchwab U.S. Large-Cap ETFScore 83
Rank 2ABKLCBNY Mellon US Large Cap Core Equity ETFScore 82
Rank 3AEPSWisdomTree U.S. LargeCap FundScore 80
Rank 4AVVVanguard Morningstar Large-Cap ETFScore 78
Rank 5AIWBiShares Russell 1000 ETFScore 77
Rank 12BIQSUNYLI Candriam U.S. Large Cap Equity ETFScore 63
Rank 12BSPXVProShares S&P 500 Ex-Health Care ETFScore 63
Rank 14BXLGInvesco S&P 500 Top 50 ETFScore 61

Our read on each fund

ETF.net Research

SPXVBProShares S&P 500 Ex-Health Care ETF

VVAVanguard Morningstar Large-Cap ETF

In short

SPXV The S&P 500 with one sector surgically removed. SPXV holds roughly 400 large caps and leaves health care out, built for portfolios that already get their pharma and hospital exposure elsewhere.

VV Vanguard's rules-based read on large cap: own whatever sits in the top 85% of the US market, about 500 names, for 0.03% a year. Running since 2004.

Stated mandate

SPXV The Fund seeks investment results that track the performance of the S&P 500 Ex-Health Care Index before fees and expenses.

VV The fund seeks to track the CRSP US Large Cap Index through a passive, full-replication strategy focused predominantly on large U.S. companies diversified across growth and value styles.

Why people hold it

SPXV Charges 0.09% a year, below the typical fund in its large-cap group.
One job, done tightly: it has hugged the S&P 500 Ex-Health Care Index closely instead of drifting from its stated mandate.
Saves the DIY work. Roughly 400 S&P 500 names in one ticker, with no screening or rebalancing on your end.
Trading since 2015, a long run for a single-sector carve-out, and it sits in the upper half of its large-cap peer group.

VV Charges 0.03% a year against a 0.14% median for its large-cap peer group. Among the cohort's top names, only SCHX matches that fee.
Full replication: it buys every stock in the index at roughly index weight, and it has tracked that benchmark very closely.vanguard.com
The ETF share class of a Vanguard index fund launched in 2004, now a multi-billion-dollar strategy with mutual fund siblings alongside it.vanguard.com
Cost, tracking and staying power put it in the top tier of a crowded 24-fund large-cap cohort.

Worth knowing

SPXV Thinly traded with a small asset base, so spreads can run wider than on a mainstream S&P 500 fund.
Pull a sector out and the rest weigh more. This tracks its own index, so it parts ways with the S&P 500 whenever health care moves differently.
Plain large-cap trackers such as SCHX and VV run 0.03%, so the sector carve-out carries a modest premium.

VV Market-cap weighted, so the biggest US companies (and their sector tilts) carry most of the weight.vanguard.com
The index stops at the top 85% of US investable market cap: mid- and small-cap names sit outside it.vanguard.com
After Morningstar acquired CRSP, the benchmark and the fund name picked up the Morningstar label. Same index, same fund.vanguard.com vanguard.com 2

Full SPXV profile⁠

Full VV profile⁠

SPXV vs VV Holdings

How SPXV and VV differ

Overlap by weight

86.7%

Shared holdings make up 97.0% of SPXV and 89.1% of VV.

Level by level

Holdings342 in both86.7%
Sector11 Sectors90.7%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in SPXV and VV, widest gap first
Sector	More in SPXVMore in VV	SPXV	VV
Health Care	VV +9.2 points	0.0%	9.2%
Technology	SPXV +2.3 points	43.4%	41.1%
Financials	SPXV +1.7 points	13.0%	11.3%
Consumer Discretionary	SPXV +1.6 points	9.9%	8.3%
Consumer Staples	SPXV +0.9 points	5.2%	4.3%
Energy	SPXV +0.8 points	4.3%	3.5%
Industrials	SPXV +0.5 points	8.1%	7.6%
Utilities	SPXV +0.5 points	2.2%	1.7%
Real Estate	SPXV +0.5 points	2.0%	1.5%
Materials	SPXV +0.4 points	2.0%	1.6%
Communication	VV +0.1 points	9.9%	10.0%

Country, concentration and asset class

Country by domicile

Country weights in SPXV and VV, widest gap first
Country	More in SPXVMore in VV	SPXV	VV
United States	VV +0.5 points	99.5%	100.0%
Other countries (5)	SPXV +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

SPXV41.3%
VV39.5%

Securities held

SPXV442
VV422

Asset class

SPXV: Equity
VV: Equity

Holdings

Only in SPXV100
In both342
Only in VV80

Only in SPXV

100 securities, 2.7% of SPXV by weight

Nxp Semiconductors NV0.11%
Vylor Inc0.08%
Everpure Inc-A0.07%
Twilio Inc - A0.05%
Emcor Group Inc0.05%
Williams-Sonoma Inc0.05%
Atmos Energy Corp0.05%
Jabil Inc0.05%
Casey's General Stores Inc0.04%
Tapestry Inc0.04%
Smurfit Westrock PLC0.04%
Omnicom Group0.04%
Amcor PLC0.04%
Nisource Inc0.04%
Ptc Inc0.04%
Expand Energy Corp0.04%
Skyworks Solutions Inc0.03%
Nrg Energy Inc0.03%
Evergy Inc0.03%
Fortive Corp0.03%
F5 Inc0.03%
Cdw Corp/De0.03%
Best Buy Co Inc0.03%
Dupont De Nemours Inc0.03%
Cf Industries Holdings Inc0.03%
Alliant Energy Corp0.03%
Apa Corp0.03%
Jacobs Solutions Inc0.03%
Leidos Holdings Inc0.03%
Tractor Supply Company0.03%
Ball Corp0.03%
Nvr Inc0.03%
Host Hotels & Resorts Inc0.03%
Idex Corp0.03%
Essex Property Trust Inc0.03%
Nordson Corp0.03%
Zebra Technologies Corp-Cl A0.03%
Hasbro Inc0.03%
Genuine Parts Co0.03%
Hunt (Jb) Transprt Svcs Inc0.03%
Kimco Realty Corp0.03%
Masco Corp0.03%
Allegion PLC0.03%
Gen Digital Inc0.03%
Stanley Black & Decker Inc0.03%
Bunge Global SA0.03%
Fedex Freight Holding Co0.03%
Trimble Inc0.03%
Tyler Technologies Inc0.03%
Ralph Lauren Corp0.03%

Only in VV

80 securities, 10.9% of VV by weight

Eli Lilly & Co1.52%
Johnson & Johnson0.99%
AbbVie Inc0.72%
Merck & Co Inc0.56%
UnitedHealth Group Inc0.51%
Thermo Fisher Scientific Inc0.39%
Amgen Inc0.35%
Gilead Sciences Inc0.29%
Abbott Laboratories0.27%
Pfizer Inc0.25%
Intuitive Surgical Inc0.22%
Danaher Corp0.22%
Vertex Pharmaceuticals Inc0.21%
Bristol-Myers Squibb Co0.20%
Cloudflare Inc0.17%
Snowflake Inc0.17%
Medtronic PLC0.17%
CVS Health Corp0.17%
McKesson Corp0.15%
Stryker Corp0.15%
Space Exploration Technologies Corp0.14%
Elevance Health Inc0.13%
Regeneron Pharmaceuticals Inc0.12%
Warner Bros Discovery Inc0.11%
Cigna Group/The0.11%
Boston Scientific Corp0.10%
HCA Healthcare Inc0.09%
Strategy Inc0.09%
Astera Labs Inc0.09%
Cheniere Energy Inc0.09%
Cencora Inc0.08%
Corteva Inc0.08%
Cardinal Health Inc0.08%
Edwards Lifesciences Corp0.08%
Becton Dickinson & Co0.08%
Agilent Technologies Inc0.08%
Humana Inc0.07%
Berkshire Hathaway Inc0.07%
IQVIA Holdings Inc0.07%
Waters Corp0.07%
Rocket Lab Corp0.06%
Veeva Systems Inc0.06%
IDEXX Laboratories Inc0.06%
Waste Connections Inc0.06%
Moderna Inc0.05%
CoreWeave Inc0.05%
Kenvue Inc0.05%
Biogen Inc0.05%
Alnylam Pharmaceuticals Inc0.05%
Dexcom Inc0.05%

Weight gaps

The 100 widest of 342 Holdings in both funds.

Holding weights in SPXV and VV, widest gap first
Holding	More in SPXVMore in VV	SPXV	VV
Apple IncAAPL	SPXV +1.02 points	8.57%	7.55%
Microsoft CorpMSFT	SPXV +0.68 points	6.60%	5.92%
Berkshire Hathaway Inc-Cl BBRK.B	SPXV +0.37 points	1.72%	1.35%
Tesla IncTSLA	SPXV +0.37 points	1.92%	1.55%
Alphabet Inc-Cl AGOOGL	VV +0.34 points	2.80%	3.14%
Visa Inc-Class A SharesV	SPXV +0.32 points	1.20%	0.88%
NVIDIA CorpNVDA	SPXV +0.31 points	8.43%	8.12%
Intel CorpINTC	VV +0.28 points	0.56%	0.84%
Exxonmobil Holdings CorpXOM	SPXV +0.26 points	1.31%	1.05%
Amazon.com IncAMZN	SPXV +0.26 points	4.02%	3.76%
Alphabet Inc-Cl CGOOG	VV +0.24 points	2.25%	2.49%
Walmart IncWMT	SPXV +0.23 points	0.94%	0.71%
Mastercard Inc - AMA	SPXV +0.21 points	0.88%	0.67%
Chevron CorpCVX	SPXV +0.19 points	0.79%	0.60%
Meta Platforms Inc-Class AMETA	VV +0.17 points	2.31%	2.48%
Micron Technology IncMU	VV +0.17 points	1.70%	1.87%
JPMorgan Chase & CoJPM	SPXV +0.16 points	1.53%	1.37%
Advanced Micro DevicesAMD	VV +0.15 points	1.40%	1.55%
Costco Wholesale CorpCOST	SPXV +0.14 points	0.77%	0.63%
Lam Research CorpLRCX	VV +0.13 points	0.51%	0.64%
Home Depot IncHD	SPXV +0.12 points	0.56%	0.44%
Procter & Gamble Co/ThePG	SPXV +0.12 points	0.64%	0.52%
Sandisk CorpSNDK	VV +0.11 points	0.29%	0.40%
Cisco Systems IncCSCO	SPXV +0.11 points	0.70%	0.59%
Applied Materials IncAMAT	VV +0.10 points	0.53%	0.63%
Coca-Cola Co/TheKO	SPXV +0.10 points	0.62%	0.52%
Accenture Plc-Cl AACN	SPXV +0.10 points	0.27%	0.17%
Philip Morris InternationalPM	SPXV +0.09 points	0.55%	0.46%
Intl Business Machines CorpIBM	SPXV +0.09 points	0.41%	0.32%
Caterpillar IncCAT	VV +0.09 points	0.49%	0.58%
Palantir Technologies Inc-APLTR	SPXV +0.08 points	0.72%	0.64%
ConocophillipsCOP	SPXV +0.09 points	0.32%	0.23%
Seagate Technology HoldingsSTX	VV +0.07 points	0.25%	0.32%
Texas Instruments IncTXN	SPXV +0.07 points	0.47%	0.40%
Rtx CorpRTX	SPXV +0.07 points	0.46%	0.39%
Marvell Technology IncMRVL	VV +0.07 points	0.29%	0.36%
Linde PLCLIN	SPXV +0.06 points	0.40%	0.34%
S&P Global IncSPGI	SPXV +0.06 points	0.24%	0.18%
Goldman Sachs Group IncGS	SPXV +0.06 points	0.44%	0.38%
Kimberly-Clark CorpKMB	SPXV +0.06 points	0.11%	0.05%
Mcdonald's CorpMCD	SPXV +0.06 points	0.31%	0.25%
Union Pacific CorpUNP	SPXV +0.06 points	0.31%	0.25%
Wells Fargo & CoWFC	SPXV +0.05 points	0.43%	0.38%
Nextera Energy IncNEE	SPXV +0.05 points	0.30%	0.25%
BlackRock IncBLK	SPXV +0.05 points	0.28%	0.23%
Pepsico IncPEP	SPXV +0.05 points	0.32%	0.27%
Analog Devices IncADI	SPXV +0.05 points	0.35%	0.30%
Altria Group IncMO	SPXV +0.05 points	0.22%	0.17%
American Express CoAXP	SPXV +0.05 points	0.29%	0.24%
Broadcom IncAVGO	SPXV +0.04 points	2.64%	2.60%
Walt Disney Co/TheDIS	SPXV +0.05 points	0.33%	0.28%
Kla CorpKLAC	VV +0.05 points	0.35%	0.40%
Intuit IncINTU	SPXV +0.04 points	0.16%	0.12%
Chubb LtdCB	SPXV +0.04 points	0.22%	0.18%
Salesforce IncCRM	SPXV +0.04 points	0.32%	0.28%
Progressive CorpPGR	SPXV +0.04 points	0.23%	0.19%
Marathon Petroleum CorpMPC	SPXV +0.04 points	0.21%	0.17%
PayPal Holdings IncPYPL	SPXV +0.04 points	0.08%	0.04%
Lowe's Cos IncLOW	SPXV +0.04 points	0.20%	0.16%
Cme Group IncCME	SPXV +0.04 points	0.19%	0.15%
Automatic Data ProcessingADP	SPXV +0.04 points	0.20%	0.16%
Southern Co/TheSO	SPXV +0.03 points	0.18%	0.15%
Arista Networks IncANET	VV +0.04 points	0.30%	0.34%
Lockheed Martin CorpLMT	SPXV +0.04 points	0.22%	0.18%
Tjx Companies IncTJX	SPXV +0.03 points	0.26%	0.23%
Marsh & Mclennan CosMRSH	SPXV +0.03 points	0.16%	0.13%
Eog Resources IncEOG	SPXV +0.04 points	0.15%	0.11%
Eqt CorpEQT	SPXV +0.04 points	0.06%	0.02%
Starbucks CorpSBUX	SPXV +0.03 points	0.20%	0.17%
Steel Dynamics IncSTLD	SPXV +0.04 points	0.06%	0.02%
Crowdstrike Holdings Inc - ACRWD	SPXV +0.03 points	0.43%	0.40%
Phillips 66PSX	SPXV +0.03 points	0.19%	0.16%
Duke Energy CorpDUK	SPXV +0.03 points	0.17%	0.14%
American Tower CorpAMT	SPXV +0.03 points	0.15%	0.12%
Servicenow IncNOW	VV +0.04 points	0.18%	0.22%
Fortinet IncFTNT	VV +0.03 points	0.14%	0.17%
Csx CorpCSX	SPXV +0.03 points	0.16%	0.13%
Marriott International -Cl AMAR	SPXV +0.03 points	0.15%	0.12%
Welltower IncWELL	SPXV +0.03 points	0.29%	0.26%
Capital One Financial CorpCOF	SPXV +0.03 points	0.21%	0.18%
Morgan StanleyMS	SPXV +0.03 points	0.37%	0.34%
Arthur J Gallagher & CoAJG	SPXV +0.03 points	0.12%	0.09%
General ElectricGE	SPXV +0.03 points	0.53%	0.50%
United Parcel Service-Cl BUPS	SPXV +0.03 points	0.14%	0.11%
Intercontinental Exchange InICE	SPXV +0.03 points	0.16%	0.13%
United Rentals IncURI	SPXV +0.03 points	0.13%	0.10%
General Dynamics CorpGD	SPXV +0.03 points	0.16%	0.13%
Dow IncDOW	SPXV +0.02 points	0.04%	0.02%
Monster Beverage CorpMNST	SPXV +0.03 points	0.12%	0.09%
Mondelez International Inc-AMDLZ	SPXV +0.03 points	0.14%	0.11%
Williams Cos IncWMB	SPXV +0.03 points	0.15%	0.13%
Hilton Worldwide Holdings InHLT	SPXV +0.03 points	0.14%	0.11%
General Motors CoGM	SPXV +0.02 points	0.13%	0.10%
Roper Technologies IncROP	SPXV +0.03 points	0.08%	0.05%
Dell Technologies -CDELL	VV +0.02 points	0.22%	0.24%
Cintas CorpCTAS	SPXV +0.03 points	0.13%	0.10%
Applovin Corp-Class AAPP	VV +0.02 points	0.11%	0.13%
Royal Caribbean Cruises LtdRCL	SPXV +0.02 points	0.13%	0.11%
Allstate CorpALL	SPXV +0.02 points	0.11%	0.09%
Aon Plc-Class AAON	SPXV +0.03 points	0.12%	0.09%

All 445 SPXV holdings⁠All 479 VV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SPXV vs VV Cost

Overpaying SPXV vs VV

$1,260

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SPXV 0.09%
$1,898
VV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SPXV 0.09%
VV 0.03%
Overpaying

Year by year

Year	SPXV	VV	Overpaying
10	$165	$55	$110
20	$646	$216	$430
30	$1,898	$638	$1,260

Expense ratio

0.09%SPXV
0.03%VV, cheaper

VV0.03%SPXV0.09%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

VV 3rd cheapest of 29 funds

SPXV 7th cheapest of 29 funds

SPXV vs VV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPXV 0.93%; VV 1.03%, better
Payout (12M): SPXV $0.76; VV $3.60
Last payment: SPXV $0.18; VV $0.90
Ex-dividend: SPXV Sep 23, 2026; VV Sep 28, 2026
Paid on: SPXV Sep 29, 2026; VV Sep 30, 2026
Frequency: SPXV Quarterly; VV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPXVQuarterly · 39 paymentsAll SPXV payments⁠

VVQuarterly · 39 paymentsAll VV payments⁠

SPXV vs VV Risk

Fall from peak · 5 years

SPXV
VV

Risk facts

VolatilityStd dev, 3 years: SPXV 13.3%VV 12.5%, better
Return per unit of riskSharpe ratio, 3 years: SPXV 1.38VV 1.41, better
Worst fallMax drawdown, 5 years: SPXV −26.6%VV −25.7%, better
Market sensitivityBeta, 5 years: SPXV 1.07VV 1.02; Market = 1

SPXV and VV in the news

All news⁠

Head-to-Head
IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee
Oct 28, 2026VV
Category Review
Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.
Updated Oct 16, 2026VV

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SPXV vs VV

In short

Stated mandate

Why people hold it

Worth knowing

How SPXV and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPXV

Only in VV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee

Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.

How SPXV and VV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPXV

Only in VV

Weight gaps