SPY vs VTI: Grades, Fees and Holdings Compared

State Street SPDR S&P 500 ETF

SPYBNYSE Arca

Vanguard Morningstar Total Stock Market ETF

VTIANYSE Arca

Overlap

86.3%by weight

Expense ratio

VTI −0.06pt a year

SPY0.09%VTI0.03%

Avg volume · 30D

SPY 13.8×the volume

SPY44.2MVTI3.19M

10Y return · a year

SPY +0.6pt

SPY+15.2%VTI+14.6%

SPY vs VTI Performance

Nov 12, 2021 – Nov 12, 2026

+73.3%SPY+65.3%VTI

Expense ratio: SPY 0.09%; VTI 0.03%, better
Fund size: SPY $806B; VTI $689B
1Y total return: SPY +12.0%; VTI +12.2%, better
Yield (12M): SPY 1.00%; VTI 1.06%, better
Holdings: SPY 505; VTI 3514
Avg volume (30D): SPY 44.2M sh, better; VTI 3.19M sh
NAV per share: SPY $759.66; VTI $374.21
52W range

ETF.net Grade

Pillar letters and Scores for SPY, VTI, with each pillar’s weight
Pillar	SPY	VTI
Cost30% weight	C47	A72
Mission25% weight	A100	A100
Risk15% weight	C50	C49
Tradability15% weight	A89	B59
Holdings10% weight	B57	C47
Durability5% weight	A84	A83

Where each fund ranks

How we build Categories ›

Different Categories. Their Grades do not compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

SPY ranks 5th of 14 funds in the S&P 500 Category.

Rank 4AUSPXFranklin U.S. Equity Index ETFScore 71
Rank 5BSPYState Street SPDR S&P 500 ETFScore 69
Rank 6BSTXFStrive 500 ETFScore 65

Total US Market⁠

Category · 10 funds

See all 10 ›

VTI ranks 4th of 10 funds in the Total US Market Category.

Rank 1AITOTiShares Core S&P Total U.S. Stock Market ETFScore 77
Rank 2ASCHBSchwab U.S. Broad Market ETFScore 74
Rank 3ASPTMState Street SPDR Portfolio S&P 1500 Composite Stock Market ETFScore 72
Rank 4AVTIVanguard Morningstar Total Stock Market ETFScore 71
Rank 5BBBUSJPMorgan BetaBuilders U.S. Equity ETFScore 69

Our read on each fund

ETF.net Research

SPYBState Street SPDR S&P 500 ETF

VTIAVanguard Morningstar Total Stock Market 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.

VTI The whole US stock market in one ticker: roughly 3,600 names, from mega caps down to micro caps, for three basis points. Vanguard has run this portfolio in ETF form since 2001, and it's grown into one of the largest funds anywhere.

Stated mandate

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

VTI The fund aims to replicate the performance of a benchmark index that covers the entire U.S. stock market.

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.

VTI Costs 0.03% a year, half the 0.06% typical for its total-market peers.
About 3,600 holdings, so the small and micro caps an S&P 500 fund leaves out are already in the mix.vanguard.com
Tracks its total-market benchmark very closely and trades heavily, and it sits among the strongest implementations in its peer group.
The ETF is a share class of Vanguard's Total Stock Market Index Fund, sharing one portfolio with the mutual fund rather than running a separate copy.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.

VTI Market-cap weighted, so the biggest US companies drive the result and the thousands of small names at the bottom carry little weight.vanguard.com
All US, by design. Nothing outside the country comes with it.
ITOT and SCHB match the 0.03% fee and BBUS runs 0.02%, so rivals deliver similar whole-market exposure for the same or less.

Full SPY profile⁠

Full VTI profile⁠

SPY vs VTI Holdings

How SPY and VTI differ

Overlap by weight

86.3%

Shared holdings make up 99.7% of SPY and 88.9% of VTI.

Level by level

Holdings500 in both86.3%
Sector11 Sectors96.1%
Asset classStocks100%
Countryby domicile99.5%

Sector

Sector weights in SPY and VTI, widest gap first
Sector	Gap	SPY	VTI
Technology	VTI +2.6 points	35.5%	38.1%
Financials	SPY +1.3 points	12.8%	11.5%
Consumer Staples	SPY +1.0 points	5.2%	4.2%
Consumer Discretionary	SPY +0.8 points	9.5%	8.7%
Industrials	VTI +0.7 points	8.1%	8.8%
Health Care	SPY +0.6 points	10.6%	10.0%
Communication	VTI +0.4 points	8.8%	9.2%
Real Estate	VTI +0.3 points	1.9%	2.2%
Utilities	SPY +0.2 points	2.1%	1.9%
Energy	VTI +0.1 points	3.5%	3.6%
Materials	Same weight	1.8%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in SPY and VTI, widest gap first
Country	Gap	SPY	VTI
United States	VTI +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	Same weight	0.0%	0.0%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SPY36.9%
VTI34.6%

Securities held

SPY504
VTI3,501

Asset class

SPY: Stocks
VTI: Stocks

Holdings

Only in SPY4
In both500
Only in VTI3,001

Only in SPY

4 securities, 0.2% of SPY by weight

Nxp Semiconductors NV0.10%
Vylor Inc0.07%
Amcor PLC0.03%
Contra Hologic Incorpo0.00%

Only in VTI

3,001 securities, 11.1% of VTI by weight

SLCMT11420.21%
Cloudflare Inc0.15%
Snowflake Inc0.15%
Space Exploration Technologies Corp0.12%
Warner Bros Discovery Inc0.10%
Natera Inc0.08%
Strategy Inc0.08%
Astera Labs Inc0.08%
Cheniere Energy Inc0.08%
Corteva Inc0.07%
Revolution Medicines Inc0.06%
Rocket Lab Corp0.06%
Waste Connections Inc0.05%
CoreWeave Inc0.05%
Kenvue Inc0.05%
Alnylam Pharmaceuticals Inc0.05%
Credo Technology Group Holding Ltd0.04%
Sunbelt Rentals Holdings Inc0.04%
Atlassian Corp0.04%
Berkshire Hathaway Inc0.04%
ROBLOX Corp0.04%
TechnipFMC PLC0.04%
MongoDB Inc0.04%
nVent Electric PLC0.04%
ATI Inc0.04%
Insmed Inc0.03%
LPL Financial Holdings Inc0.03%
Zoom Communications Inc0.03%
Entegris Inc0.03%
United Therapeutics Corp0.03%
Guardant Health Inc0.03%
HEICO Corp0.03%
Rocket Cos Inc0.03%
Zscaler Inc0.03%
MACOM Technology Solutions Holdings Inc0.03%
Tenet Healthcare Corp0.03%
SoFi Technologies Inc0.03%
Markel Group Inc0.03%
Roku Inc0.03%
Curtiss-Wright Corp0.03%
Royal Gold Inc0.03%
US Foods Holding Corp0.03%
Medline Inc0.03%
Liberty Media Corp0.03%
Reliance Inc0.03%
XPO Inc0.03%
Woodward Inc0.03%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Aug-310.03%
Affirm Holdings Inc0.03%
Roivant Sciences Ltd0.03%

Weight gaps

The 100 widest of 500 Holdings in both funds.

Holding weights in SPY and VTI, widest gap first
Holding	Gap	SPY	VTI
Apple IncAAPL	SPY +1.26 points	7.89%	6.63%
NVIDIA CorpNVDA	VTI +0.73 points	6.40%	7.13%
Microsoft CorpMSFT	SPY +0.70 points	5.89%	5.19%
Amazon.com IncAMZN	SPY +0.67 points	3.97%	3.30%
Berkshire Hathaway Inc Class BBRK.B	SPY +0.46 points	1.67%	1.21%
Eli Lilly & CoLLY	SPY +0.41 points	1.75%	1.34%
Tesla IncTSLA	SPY +0.32 points	1.68%	1.36%
Visa Inc Class A SharesV	SPY +0.27 points	1.10%	0.83%
Intel CorpINTC	VTI +0.27 points	0.47%	0.74%
Micron Technology IncMU	VTI +0.25 points	1.39%	1.64%
Walmart IncWMT	SPY +0.23 points	0.85%	0.62%
Mastercard Inc AMA	SPY +0.22 points	0.81%	0.59%
Broadcom IncAVGO	SPY +0.22 points	2.50%	2.28%
JPMorgan Chase & CoJPM	SPY +0.19 points	1.39%	1.20%
Costco Wholesale CorpCOST	SPY +0.18 points	0.73%	0.55%
AbbVie IncABBV	SPY +0.16 points	0.79%	0.63%
Johnson & JohnsonJNJ	SPY +0.16 points	1.03%	0.87%
Home Depot IncHD	SPY +0.14 points	0.53%	0.39%
Alphabet Inc Class AGOOGL	VTI +0.14 points	2.62%	2.76%
Procter & Gamble Co/ThePG	SPY +0.13 points	0.59%	0.46%
Sandisk CorpSNDK	VTI +0.13 points	0.22%	0.35%
Exxonmobil Holdings CorpXOM	SPY +0.12 points	1.04%	0.92%
Coca Cola Co/TheKO	SPY +0.12 points	0.57%	0.45%
Chevron CorpCVX	SPY +0.12 points	0.64%	0.52%
Lam Research CorpLRCX	VTI +0.11 points	0.45%	0.56%
UnitedHealth Group IncUNH	SPY +0.10 points	0.55%	0.45%
General ElectricGE	SPY +0.10 points	0.54%	0.44%
Seagate Technology HoldingsSTX	VTI +0.09 points	0.19%	0.28%
Marvell Technology IncMRVL	VTI +0.09 points	0.23%	0.32%
Caterpillar IncCAT	VTI +0.09 points	0.42%	0.51%
Cisco Systems IncCSCO	SPY +0.08 points	0.60%	0.52%
Accenture PLC Class AACN	SPY +0.09 points	0.24%	0.15%
Texas Instruments IncTXN	SPY +0.08 points	0.43%	0.35%
Goldman Sachs Group IncGS	SPY +0.08 points	0.41%	0.33%
Applied Materials IncAMAT	VTI +0.07 points	0.48%	0.55%
Alphabet Inc Class CGOOG	VTI +0.08 points	2.10%	2.18%
Amgen IncAMGN	SPY +0.08 points	0.39%	0.31%
Intl Business Machines CorpIBM	SPY +0.08 points	0.36%	0.28%
McDonald’s CorpMCD	SPY +0.08 points	0.30%	0.22%
Rtx CorpRTX	SPY +0.07 points	0.41%	0.34%
Linde PLCLIN	SPY +0.07 points	0.37%	0.30%
Meta Platforms Inc Class AMETA	VTI +0.07 points	2.11%	2.18%
Gilead Sciences IncGILD	SPY +0.07 points	0.32%	0.25%
BlackRock IncBLK	SPY +0.07 points	0.27%	0.20%
Walt Disney Co/TheDIS	SPY +0.06 points	0.31%	0.25%
Wells Fargo & CoWFC	SPY +0.06 points	0.39%	0.33%
S+p Global IncSPGI	SPY +0.07 points	0.22%	0.15%
Merck & Co. Inc.MRK	SPY +0.06 points	0.55%	0.49%
Thermo Fisher Scientific IncTMO	SPY +0.06 points	0.40%	0.34%
Pepsico IncPEP	SPY +0.06 points	0.30%	0.24%
Philip Morris InternationalPM	SPY +0.06 points	0.47%	0.41%
Oracle CorpORCL	SPY +0.06 points	0.38%	0.32%
Nextera Energy IncNEE	SPY +0.05 points	0.27%	0.22%
Kimberly Clark CorpKMB	SPY +0.06 points	0.10%	0.04%
Lowe’s Cos IncLOW	SPY +0.06 points	0.20%	0.14%
Mckesson CorpMCK	SPY +0.05 points	0.19%	0.14%
Abbott LaboratoriesABT	SPY +0.06 points	0.29%	0.23%
Union Pacific CorpUNP	SPY +0.05 points	0.27%	0.22%
Applovin Corp Class AAPP	SPY +0.06 points	0.17%	0.11%
American Express CoAXP	SPY +0.05 points	0.26%	0.21%
ConocophillipsCOP	SPY +0.04 points	0.25%	0.20%
Moderna IncMRNA	SPY +0.05 points	0.14%	0.09%
Palantir Technologies Inc APLTR	SPY +0.04 points	0.60%	0.56%
Intuitive Surgical IncISRG	SPY +0.04 points	0.24%	0.20%
Automatic Data ProcessingADP	SPY +0.05 points	0.19%	0.14%
Welltower IncWELL	SPY +0.04 points	0.27%	0.23%
Starbucks CorpSBUX	SPY +0.04 points	0.19%	0.15%
Cme Group IncCME	SPY +0.04 points	0.17%	0.13%
Morgan StanleyMS	SPY +0.05 points	0.35%	0.30%
Chubb LtdCB	SPY +0.05 points	0.20%	0.15%
Altria Group IncMO	SPY +0.05 points	0.20%	0.15%
Dell Technologies CDELL	VTI +0.04 points	0.17%	0.21%
Progressive CorpPGR	SPY +0.04 points	0.21%	0.17%
Western Digital CorpWDC	VTI +0.04 points	0.17%	0.21%
Analog Devices IncADI	SPY +0.04 points	0.30%	0.26%
Stryker CorpSYK	SPY +0.04 points	0.17%	0.13%
Intuit IncINTU	SPY +0.04 points	0.14%	0.10%
Marsh & Mclennan CosMRSH	SPY +0.04 points	0.15%	0.11%
Medtronic PLCMDT	SPY +0.04 points	0.19%	0.15%
Uber Technologies IncUBER	SPY +0.04 points	0.22%	0.18%
Regeneron PharmaceuticalsREGN	SPY +0.04 points	0.14%	0.10%
Marriott International Class AMAR	SPY +0.04 points	0.14%	0.10%
Intercontinental Exchange InICE	SPY +0.03 points	0.15%	0.12%
Southern Co/TheSO	SPY +0.03 points	0.16%	0.13%
Verizon Communications IncVZ	SPY +0.03 points	0.29%	0.26%
Royal Caribbean Cruises LtdRCL	SPY +0.04 points	0.13%	0.09%
Motorola Solutions IncMSI	SPY +0.03 points	0.13%	0.10%
Pfizer IncPFE	SPY +0.04 points	0.26%	0.22%
Danaher CorpDHR	SPY +0.03 points	0.22%	0.19%
United Parcel Service Class BUPS	SPY +0.03 points	0.13%	0.10%
3M CoMMM	SPY +0.03 points	0.15%	0.12%
Fortinet IncFTNT	VTI +0.03 points	0.12%	0.15%
Duke Energy CorpDUK	SPY +0.03 points	0.15%	0.12%
Simon Property Group IncSPG	SPY +0.04 points	0.12%	0.08%
Hca Healthcare IncHCA	SPY +0.03 points	0.11%	0.08%
Lumentum Holdings IncLITE	VTI +0.03 points	0.09%	0.12%
Hilton Worldwide Holdings InHLT	SPY +0.03 points	0.13%	0.10%
Datadog Inc Class ADDOG	VTI +0.04 points	0.09%	0.13%
T Mobile Us IncTMUS	SPY +0.03 points	0.13%	0.10%
American Tower CorpAMT	SPY +0.03 points	0.13%	0.10%

All 504 SPY holdings⁠All 3,519 VTI 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 VTI Cost

Overpaying SPY vs VTI

$1,260

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

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

Amount$10,000

Years30 years

Cost over time

SPY 0.09%
VTI 0.03%
Overpaying

Year by year

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

Expense ratio

0.09%SPY
0.03%VTI, cheaper

Different Categories, so each fee sits in its own Category’s range.

SPY among 14 S&P 500 funds

SPY0.09%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

SPY 7th cheapest of 14 funds

VTI among 10 Total US Market funds

VTI0.03%

0.02%0.25%

Middle half of Total US Market funds
Median 0.04%

VTI 2nd cheapest of 10 funds

SPY vs VTI Dividends

Last 12 months to Nov 12, 2026

Yield (12M): SPY 1.00%; VTI 1.06%, better
Payout (12M): SPY $7.58; VTI $3.95
Last payment: SPY $1.89; VTI $0.96
Ex-dividend: SPY Sep 18, 2026; VTI Sep 28, 2026
Paid on: SPY Oct 30, 2026; VTI Sep 30, 2026
Frequency: SPY Quarterly; VTI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPYQuarterly · 39 paymentsAll SPY payments⁠

VTIQuarterly · 39 paymentsAll VTI payments⁠

SPY vs VTI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: SPY 12.3%, betterVTI 12.7%
Return per unit of riskSharpe ratio, 3 years: SPY 1.42, betterVTI 1.37
Worst fallMax drawdown, 5 years: SPY −24.5%, betterVTI −25.4%
Market sensitivityBeta, 5 years: SPY 1.01VTI 1.02; Market = 1

SPY and VTI in the news

All news⁠

Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026SPYVTI
Closing Bell
Jensen Huang quits Nvidia; Kress named interim CEO as shares fall 4.3%
10 hours agoSPY
Opening Bell
Nvidia opens 13% lower after Jensen Huang resigns as CEO
20 hours agoSPY
Closing Bell
Chip stocks rise on CoreWeave’s outlook, sending ship S&P 500 up 1.3%
Nov 11, 2026SPY
Deep Dive
A consumer staples ETF with no Walmart beat XLP this year
Nov 11, 2026SPY
Closing Bell
Hot CPI lifts yields - Nvidia alone accounts for the S&P 500's 0.4% drop
Nov 10, 2026SPY

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