SPAXX vs VXUS
Fidelity Government Money Market Fund vs Vanguard Total International Stock ETF
Which is better, SPAXX or VXUS?
VXUS costs less.
VXUS has a lower expense ratio.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPAXX | VXUS |
|---|---|---|
| Expense Ratio | 0.42% | 0.05%Best |
| AUM | $423.8B | $158.1B |
| Dividend Yield | 3.15% | 2.51% |
| Holdings | 700 | 8,747 |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Money Market | Equity |
| Style | - | Large Cap Blend |
| Inception | Feb 5, 1990 | Jan 26, 2011 |
Not shown on this pair: YTD Price Return, 1Y Price Return, 3Y Price Return (annualized), 5Y Price Return (annualized), Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
The two price series end 1627 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SPAXX has data through Mar 29, 2022 and VXUS through Sep 11, 2026.
Fees and Cost Over Time
SPAXX charges 0.42% per year while VXUS charges 0.05%. On a $10,000 position that is $42 vs $5 annually, a gap of $37 per year that compounds over a long holding period. On income, SPAXX currently yields 3.15% against 2.51% for VXUS.
Structure and taxes
SPAXX is a mutual fund and VXUS is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
We hold position weights for 34 holdings in SPAXX and 8,091 in VXUS, totalling 6.1% and 87.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 34 positions we hold weights for in SPAXX and 8,091 in VXUS, against full books of 700 and 8,747.
You are not choosing between two funds in isolation.
Whichever of SPAXX and VXUS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPAXX or VXUS?
SPAXX has an expense ratio of 0.42% while VXUS charges 0.05%. VXUS is the cheaper option, by $37 a year on a $10,000 investment.
Which pays a higher dividend, SPAXX or VXUS?
SPAXX yields 3.15% while VXUS yields 2.51%, so SPAXX currently pays the higher dividend yield.
Is it better to hold SPAXX or VXUS in a taxable account?
VXUS is an ETF and SPAXX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VXUS better than SPAXX?
VXUS has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.