SPY vs VOO: Grades, Fees and Holdings Compared

State Street SPDR S&P 500 ETF

SPYANYSE Arca

Vanguard S&P 500 ETF

VOOANYSE Arca

Overlap

95.5%by weight

Both track S&P 500 Index

Expense ratio

VOO −0.06pt a year

SPY0.09%VOO0.03%

Avg volume · 30D

SPY 6.3×the volume

SPY44MVOO6.99M

10Y return · a year

VOO +0.1pt

SPY+15.4%VOO+15.5%

SPY vs VOO Performance

Nov 2, 2021 – Nov 2, 2026

+74.1%SPY+74.6%VOO

Expense ratio: SPY 0.09%; VOO 0.03%, better
Fund size: SPY $814B; VOO $1.7T
1Y total return: SPY +11.5%; VOO +11.5%
Yield (12M): SPY 1.01%; VOO 1.07%, better
Holdings: SPY 505; VOO 518
Avg volume (30D): SPY 44M sh, better; VOO 6.99M sh
NAV per share: SPY $769.51; VOO $694.53
52W range

ETF.net Grade

Pillar letters and Scores for SPY, VOO, with each pillar’s weight
Pillar	SPY	VOO
Cost30% weight	C47	A84Higher
Mission25% weight	A100	A100
Risk15% weight	C51	C51
Tradability15% weight	A93Higher	C53
Holdings10% weight	B55Higher	D39
Durability5% weight	A83	A93Higher

Rank among S&P 500 funds

How we build Categories ›

Same Category. SPY and VOO are both graded against the same 14 S&P 500 funds, so their Grades compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

VOO ranks 3rd and SPY 5th of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 3AVOOVanguard S&P 500 ETFScore 74
Rank 4AUSPXFranklin U.S. Equity Index ETFScore 72
Rank 5ASPYState Street SPDR S&P 500 ETFScore 70
Rank 6BSTXFStrive 500 ETFScore 66

Our read on each fund

ETF.net Research

SPYAState Street SPDR S&P 500 ETF

VOOAVanguard S&P 500 ETF

In short

SPY The 1993 original, and still the ticker the market trades through. Same roughly 500 S&P 500 names as its cheaper cousins; the edge here is the crowd around it, not the fee.

VOO Not a standalone ETF but a share class of Vanguard's flagship 500 Index Fund: the same roughly 500 large US companies, 0.03% a year, in a wrapper you can trade all day.

Stated mandate

SPY The fund seeks to track, before expenses, the price and yield performance of the S&P 500 Index.

VOO The fund invests in stocks represented by the S&P 500 Index and seeks to closely track that index's return as a measure of overall U.S. stock performance.

Why people hold it

SPY One of the most heavily traded funds in the market, and one of the largest. That depth is why desks treat it as the default way to move S&P 500 exposure.
Its stated job is to track the S&P 500 before expenses, and it hews to that benchmark about as closely as anything in its peer group.
At 0.09% a year it still undercuts the typical S&P 500 wrapper in its cohort, and it lands in the upper half of that group overall.

VOO 0.03% a year against a 0.15% median for S&P 500 trackers. On a fund this size, that fee gap is the whole product.
Holds the index outright, all roughly 500 names, and its tracking record sits among the tightest in the S&P 500 group.vanguard.com
One of the most actively traded ETFs in the market, which tends to keep the cost of getting in and out small.
It is the ETF share class of Vanguard's 500 Index Fund, and Vanguard is owned by its own funds, so no outside parent takes a cut.vanguard.com sec.gov

Worth knowing

SPY That liquidity has a price: VOO, IVV and SPYM track the same index for a few basis points, and the fee gap compounds over a long hold.
It is a unit investment trust, the older 1993-vintage wrapper: it holds the index as declared and pays dividends out on a quarterly schedule.
About 500 stocks, cap-weighted, so the largest companies carry the most weight; equal-weight takes on the same index, like RSP, spread it differently.

VOO Large US companies only, weighted by size, so the biggest few names carry the most weight and drive much of the move.spglobal.com
Membership is not purely mechanical: an S&P index committee decides which companies come in and go out.spglobal.com
SPYM tracks the same index for 0.02%. A rounding error for most, but real if cost is your only tiebreaker.

Full SPY profile⁠

Full VOO profile⁠

SPY vs VOO Holdings

How SPY and VOO differ

Overlap by weight

95.5%

Shared holdings make up 99.8% of VOO and 99.8% of SPY.

Level by level

Holdings501 in both95.5%
Sector11 Sectors97.1%
Asset classEquity100%
Countryby domicile99.5%

Sector

Sector weights in SPY and VOO, widest gap first
Sector	More in SPYMore in VOO	SPY	VOO
Technology	VOO +1.9 points	38.6%	40.5%
Communication	VOO +1.1 points	8.9%	9.9%
Financials	SPY +0.7 points	11.8%	11.1%
Health Care	SPY +0.5 points	9.8%	9.3%
Industrials	SPY +0.4 points	8.0%	7.5%
Consumer Staples	SPY +0.5 points	4.8%	4.3%
Energy	SPY +0.3 points	3.7%	3.4%
Consumer Discretionary	SPY +0.2 points	9.0%	8.8%
Utilities	SPY +0.1 points	2.0%	1.9%
Materials	SPY +0.1 points	1.7%	1.6%
Real Estate	Same weight	1.7%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in SPY and VOO, widest gap first
Country	More in SPYMore in VOO	SPY	VOO
United States	VOO +0.5 points	99.5%	100.0%
Switzerland	SPY +0.3 points	0.3%	0.0%
China	SPY +0.1 points	0.1%	0.0%
Mexico	SPY +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SPY37.4%
VOO39.1%

Securities held

SPY504
VOO516

Asset class

SPY: Equity
VOO: Equity

Holdings

Only in SPY3
In both501
Only in VOO15

Only in SPY

3 securities, 0.1% of SPY by weight

Vylor Inc0.07%
Twilio Inc A0.06%
Contra Hologic Incorpo0.00%

Only in VOO

15 securities, 0.3% of VOO by weight

Warner Bros Discovery Inc0.12%
Corteva Inc0.08%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Aug-310.03%
TRS:VISA INC-CLASS A SHARES USD 2027-Aug-310.02%
TRS:PAYPAL HOLDINGS INC USD 2027-Aug-31<0.01%
TRS:CITIGROUP INC USD 2027-Aug-31<0.01%
TRS:KROGER CO USD 2027-Jan-29<0.01%
TRS:ELEVANCE HEALTH INC USD 2027-Aug-31<0.01%
TRS:RAYMOND JAMES FINANCIAL INC USD 2027-Aug-31<0.01%
TRS:ELEVANCE HEALTH INC USD 2027-Jan-29<0.01%
TRS:NETAPP INC USD 2027-Aug-31<0.01%
TRS:RAYMOND JAMES FINANCIAL INC USD 2027-Jan-29<0.01%
SLBBH1142<0.01%
Hologic Inc - Cvr (April 2026)0.00%
Abiomed Inc-Cvr0.00%

Weight gaps

The 100 widest of 501 Holdings in both funds.

Holding weights in SPY and VOO, widest gap first
Holding	More in SPYMore in VOO	SPY	VOO
NVIDIA CorpNVDA	VOO +0.62 points	7.77%	8.39%
Alphabet Inc Class AGOOGL	VOO +0.57 points	2.50%	3.07%
Alphabet Inc Class CGOOG	VOO +0.43 points	2.02%	2.45%
Meta Platforms Inc Class AMETA	VOO +0.36 points	2.07%	2.43%
Apple IncAAPL	SPY +0.28 points	7.66%	7.38%
Eli Lilly & CoLLY	SPY +0.24 points	1.65%	1.41%
Micron Technology IncMU	VOO +0.24 points	1.59%	1.83%
Intel CorpINTC	VOO +0.22 points	0.69%	0.91%
Tesla IncTSLA	SPY +0.19 points	1.71%	1.52%
Lam Research CorpLRCX	VOO +0.14 points	0.48%	0.62%
Visa Inc Class A SharesV	SPY +0.14 points	1.05%	0.91%
Microsoft CorpMSFT	SPY +0.14 points	5.92%	5.78%
Advanced Micro DevicesAMD	VOO +0.13 points	1.39%	1.52%
Caterpillar IncCAT	VOO +0.12 points	0.45%	0.57%
Exxonmobil Holdings CorpXOM	SPY +0.11 points	1.13%	1.02%
Amazon.com IncAMZN	VOO +0.11 points	3.60%	3.71%
Applied Materials IncAMAT	VOO +0.12 points	0.50%	0.62%
Berkshire Hathaway Inc Class BBRK.B	SPY +0.11 points	1.52%	1.41%
Walmart IncWMT	SPY +0.11 points	0.81%	0.70%
Mastercard Inc AMA	SPY +0.09 points	0.77%	0.68%
Sandisk CorpSNDK	VOO +0.10 points	0.29%	0.39%
Seagate Technology HoldingsSTX	VOO +0.08 points	0.24%	0.32%
Chevron CorpCVX	SPY +0.08 points	0.69%	0.61%
AbbVie IncABBV	SPY +0.07 points	0.77%	0.70%
Broadcom IncAVGO	VOO +0.07 points	2.47%	2.54%
Marvell Technology IncMRVL	VOO +0.06 points	0.29%	0.35%
Home Depot IncHD	SPY +0.06 points	0.49%	0.43%
Kla CorpKLAC	VOO +0.06 points	0.33%	0.39%
Accenture PLC Class AACN	SPY +0.06 points	0.23%	0.17%
UnitedHealth Group IncUNH	SPY +0.05 points	0.55%	0.50%
Netflix IncNFLX	VOO +0.05 points	0.39%	0.44%
Intl Business Machines CorpIBM	SPY +0.06 points	0.37%	0.31%
Costco Wholesale CorpCOST	SPY +0.05 points	0.66%	0.61%
Procter & Gamble Co/ThePG	SPY +0.05 points	0.56%	0.51%
ConocophillipsCOP	SPY +0.04 points	0.27%	0.23%
Servicenow IncNOW	VOO +0.04 points	0.17%	0.21%
Lockheed Martin CorpLMT	SPY +0.04 points	0.20%	0.16%
Texas Instruments IncTXN	SPY +0.04 points	0.43%	0.39%
Fortinet IncFTNT	VOO +0.04 points	0.13%	0.17%
JPMorgan Chase & CoJPM	SPY +0.04 points	1.37%	1.33%
At+t IncT	VOO +0.03 points	0.22%	0.25%
Philip Morris InternationalPM	SPY +0.04 points	0.49%	0.45%
Bank of America CorpBAC	VOO +0.04 points	0.50%	0.54%
Goldman Sachs Group IncGS	SPY +0.04 points	0.41%	0.37%
Western Digital CorpWDC	VOO +0.04 points	0.21%	0.25%
Coca Cola Co/TheKO	SPY +0.03 points	0.54%	0.51%
Arista Networks IncANET	VOO +0.03 points	0.29%	0.32%
Corning IncGLW	VOO +0.04 points	0.15%	0.18%
Dell Technologies CDELL	VOO +0.03 points	0.22%	0.25%
Johnson & JohnsonJNJ	SPY +0.03 points	1.00%	0.97%
Ge Vernova IncGEV	VOO +0.02 points	0.36%	0.38%
Amgen IncAMGN	SPY +0.02 points	0.37%	0.35%
Gilead Sciences IncGILD	SPY +0.03 points	0.31%	0.28%
S+p Global IncSPGI	SPY +0.03 points	0.21%	0.18%
Palantir Technologies Inc APLTR	SPY +0.03 points	0.68%	0.65%
Robinhood Markets Inc AHOOD	VOO +0.03 points	0.11%	0.14%
McDonald’s CorpMCD	SPY +0.02 points	0.27%	0.25%
Bloom Energy Corp ABE	VOO +0.02 points	0.10%	0.12%
Teradyne IncTER	VOO +0.03 points	0.07%	0.10%
Palo Alto Networks IncPANW	VOO +0.02 points	0.47%	0.49%
Union Pacific CorpUNP	SPY +0.02 points	0.27%	0.25%
Analog Devices IncADI	SPY +0.03 points	0.32%	0.29%
Rtx CorpRTX	SPY +0.02 points	0.40%	0.38%
Eaton Corp PLCETN	VOO +0.02 points	0.23%	0.25%
BlackRock IncBLK	SPY +0.02 points	0.25%	0.23%
Schwab (Charles) CorpSCHW	VOO +0.02 points	0.22%	0.24%
Altria Group IncMO	SPY +0.02 points	0.19%	0.17%
Intuit IncINTU	SPY +0.03 points	0.14%	0.11%
Mckesson CorpMCK	SPY +0.02 points	0.17%	0.15%
Intuitive Surgical IncISRG	SPY +0.02 points	0.24%	0.22%
Wells Fargo & CoWFC	SPY +0.02 points	0.39%	0.37%
Boeing Co/TheBA	VOO +0.01 points	0.20%	0.22%
Starbucks CorpSBUX	SPY +0.02 points	0.18%	0.16%
Eog Resources IncEOG	SPY +0.02 points	0.13%	0.11%
Comfort Systems Usa IncFIX	VOO +0.02 points	0.07%	0.09%
Chubb LtdCB	SPY +0.02 points	0.19%	0.17%
Progressive CorpPGR	SPY +0.02 points	0.20%	0.18%
Nextera Energy IncNEE	SPY +0.02 points	0.26%	0.24%
Lowe’s Cos IncLOW	SPY +0.01 points	0.17%	0.16%
United Rentals IncURI	SPY +0.02 points	0.11%	0.09%
Marsh & Mclennan CosMRSH	SPY +0.02 points	0.14%	0.12%
Stryker CorpSYK	SPY +0.01 points	0.16%	0.15%
Cme Group IncCME	SPY +0.02 points	0.16%	0.14%
Linde PLCLIN	SPY +0.02 points	0.35%	0.33%
Verizon Communications IncVZ	VOO +0.02 points	0.27%	0.29%
Booking Holdings IncBKNG	VOO +0.02 points	0.17%	0.19%
Southern Co/TheSO	SPY +0.02 points	0.16%	0.14%
Applovin Corp Class AAPP	VOO +0.02 points	0.10%	0.12%
Moderna IncMRNA	SPY +0.01 points	0.12%	0.11%
Coherent CorpCOHR	VOO +0.02 points	0.07%	0.09%
Thermo Fisher Scientific IncTMO	SPY +0.01 points	0.39%	0.38%
Royal Caribbean Cruises LtdRCL	SPY +0.02 points	0.12%	0.10%
Automatic Data ProcessingADP	SPY +0.01 points	0.17%	0.16%
Northrop Grumman CorpNOC	SPY +0.01 points	0.11%	0.10%
American Tower CorpAMT	SPY +0.01 points	0.13%	0.12%
Synopsys IncSNPS	SPY +0.01 points	0.14%	0.13%
Arthur J Gallagher & CoAJG	SPY +0.01 points	0.10%	0.09%
United Parcel Service Class BUPS	SPY +0.01 points	0.12%	0.11%
Csx CorpCSX	SPY +0.02 points	0.15%	0.13%
Roper Technologies IncROP	SPY +0.02 points	0.07%	0.05%

All 504 SPY holdings⁠All 505 VOO 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.

SPY vs VOO Cost

Overpaying SPY vs VOO

$1,260

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

SPY 0.09%
$1,898
VOO 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SPY 0.09%
VOO 0.03%
Overpaying

Year by year

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

Expense ratio

0.09%SPY
0.03%VOO, cheaper

VOO0.03%SPY0.09%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

VOO 2nd cheapest of 14 funds

SPY 7th cheapest of 14 funds

SPY vs VOO Dividends

Last 12 months to Nov 2, 2026

Yield (12M): SPY 1.01%; VOO 1.07%, better
Payout (12M): SPY $7.58; VOO $7.43
Last payment: SPY $1.89; VOO $1.82
Ex-dividend: SPY Sep 18, 2026; VOO Sep 28, 2026
Paid on: SPY Oct 30, 2026; VOO Sep 30, 2026
Frequency: SPY Quarterly; VOO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPYQuarterly · 39 paymentsAll SPY payments⁠

VOOQuarterly · 39 paymentsAll VOO payments⁠

SPY vs VOO Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: SPY 12.3%VOO 12.3%
Return per unit of riskSharpe ratio, 3 years: SPY 1.42VOO 1.42
Worst fallMax drawdown, 5 years: SPY −24.5%VOO −24.5%
Market sensitivityBeta, 5 years: SPY 1.01VOO 1.01; Market = 1

SPY and VOO in the news

All news⁠

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Deep Dive
SPY vs. SPYM, VOO, and IVV: Why SPY trails cheaper S&P 500 ETFs
Oct 29, 2026SPYVOO
Head-to-Head
VOO has kept about a tenth of a percentage point a year more of the S&P 500 than SPY
Oct 23, 2026SPYVOO
New ETFs
FINQ lists AIBE at 0.53%, wider and cheaper than its own AIUP
12 hours agoVOO
Category Review
International high-yield funds beat the S&P 500. Foreign stocks did not.
Updated Nov 3, 2026SPY

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SPY vs VOO

In short

Stated mandate

Why people hold it