SPY vs VONV
State Street SPDR S&P 500 ETF Trust vs Vanguard Russell 1000 Value ETF
Which is better, SPY or VONV?
Large Cap Blend against Large Cap Value.
VONV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VONV over 1Y. The two have moved almost in lockstep, correlation 0.93. VONV is less concentrated, with 27.9% of the fund in its ten largest positions against 38.0%.
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 | SPY | VONV |
|---|---|---|
| Expense Ratio | 0.09% | 0.06%Best |
| AUM | $804.7B | $23.1B |
| Dividend Yield | 0.98% | 1.53% |
| Holdings | 505 | 876 |
| YTD Return | +12.47% | +21.37%Best |
| 1Y Return | +17.51% | +27.56%Best |
| 3Y Return (annualized) | +21.18%Best | +19.72% |
| 5Y Return (annualized) | +12.88%Best | +11.95% |
| Volatility (annualized) | 14.1%Best | 14.4% |
| Max Drawdown | -34.1%Best | -38.2% |
| $10,000 over 5 years | $18,327Best | $17,584 |
| Top 10 Weight | 38.0% | 27.9%Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Sep 20, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2010 to Sep 11, 2026 (16 years).
SPY vs VONV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
SPY vs VONV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard Russell 1000 Value ETF (VONV) is an ETF from Vanguard (US). Over the past year SPY returned +17.51% while VONV returned +27.56%. Year to date, SPY is up 12.47% versus a gain of 21.37% for VONV.
Over three years, SPY compounded at +21.18% per year against +19.72% for VONV; over five years the annualized figures are +12.88% and +11.95% respectively. Across the full 16-year window we track, SPY has the edge at +13.21% annualized vs +10.46%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VONV has been the more volatile fund, with annualized monthly volatility of 14.4% compared with 14.1% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.1% for SPY and -38.2% for VONV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while VONV charges 0.06%. On a $10,000 position that is $9 vs $6 annually, a gap of $3 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.53% for VONV.
Holdings Overlap
62.5% of SPY's money is in holdings VONV also owns. 88.0% of VONV's money is in holdings SPY also owns.
Most of VONV is already inside SPY. Owning both mostly buys the same companies twice.
412 positions in common, counted across the 504 positions we hold weights for in SPY and 870 in VONV, against full books of 505 and 876.
What only one of them owns
Our book lists 392 positions for VONV that do not appear in our book for SPY (11.2% of the fund), and 84 for SPY that do not appear in VONV (37.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VONV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.83% | 5.41% | 1.42% |
| AMZNAmazon.Com Inc | 4.08% | 5.98% | 1.90% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 3.91% | 1.59% |
| BRK.BBerkshire Hathaway B | 1.42% | 2.63% | 1.21% |
| JPMJpmorgan Chase & Co. | 1.44% | 2.29% | 0.85% |
| JNJJohnson & Johnson | 0.92% | 1.73% | 0.81% |
| METAMeta Platforms, Inc. | 1.94% | 0.64% | 1.30% |
| XOMExxon Mobil Corp. | 0.96% | 1.61% | 0.65% |
| INTCIntel Corp. | 0.72% | 1.73% | 1.01% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.72% | 1.31% | 0.59% |
88.0% of VONV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or VONV?
SPY has an expense ratio of 0.09% while VONV charges 0.06%. VONV is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SPY or VONV?
Over the past year SPY returned +17.51% vs +27.56% for VONV, so VONV leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +13.21% vs +10.46% for VONV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VONV?
VONV has been the more volatile fund at 14.4% annualized versus 14.1% for SPY. Worst drawdown: SPY -34.1% vs VONV -38.2%.
Should I hold both SPY and VONV?
SPY and VONV have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and VONV?
88.0% of VONV's money is in holdings SPY also owns. 88.0% of VONV's is in holdings SPY also owns. They hold 412 positions in common, counted across the 504 positions we hold weights for in SPY and 870 in VONV.
Which pays a higher dividend, SPY or VONV?
SPY yields 0.98% while VONV yields 1.53%, so VONV currently pays the higher dividend yield.
Is VONV better than SPY?
VONV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VONV over 1Y. The two have moved almost in lockstep, correlation 0.93. VONV is less concentrated, with 27.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.