SPY vs VOOG
State Street SPDR S&P 500 ETF Trust vs Vanguard S&P 500 Growth ETF
Which is better, SPY or VOOG?
Large Cap Blend against Large Cap Growth.
VOOG has a lower expense ratio. VOOG led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 54.3%.
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 | VOOG |
|---|---|---|
| Expense Ratio | 0.09% | 0.07%Best |
| AUM | $814.4B | $26.0B |
| Dividend Yield | 1.01% | 0.47% |
| Holdings | 505 | 156 |
| YTD Return | +13.34% | +14.25%Best |
| 1Y Return | +19.97% | +21.67%Best |
| 3Y Return (annualized) | +21.20% | +25.71%Best |
| 5Y Return (annualized) | +12.81% | +13.07%Best |
| Volatility (annualized) | 14.1%Best | 15.4% |
| Max Drawdown | -34.1% | -32.7%Best |
| $10,000 over 5 years | $18,270 | $18,481Best |
| Top 10 Weight | 38.0%Best | 54.3% |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 4, 2026 (16 years).
SPY vs VOOG 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 VOOG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard S&P 500 Growth ETF (VOOG) is an ETF from Vanguard (US). Over the past year SPY returned +19.97% while VOOG returned +21.67%. Year to date, SPY is up 13.34% versus a gain of 14.25% for VOOG.
Over three years, SPY compounded at +21.20% per year against +25.71% for VOOG; over five years the annualized figures are +12.81% and +13.07% respectively. Across the full 16-year window we track, VOOG has the edge at +15.77% annualized vs +13.41%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOOG has been the more volatile fund, with annualized monthly volatility of 15.4% 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 -32.7% for VOOG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. 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 VOOG charges 0.07%. On a $10,000 position that is $9 vs $7 annually, a gap of $2 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.47% for VOOG.
Holdings Overlap
64.2% of SPY's money is in holdings VOOG also owns. 94.8% of VOOG's money is in holdings SPY also owns.
Most of VOOG is already inside SPY. Owning both mostly buys the same companies twice.
144 positions in common, counted across the 504 positions we hold weights for in SPY and 146 in VOOG, against full books of 505 and 156.
What only one of them owns
Our book lists 1 positions for VOOG that do not appear in our book for SPY (0.1% of the fund), and 353 for SPY that do not appear in VOOG (35.3%).
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 VOOG | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.71% | 13.64% | 5.93% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 7.80% | 2.30% |
| AAPLApple, Inc | 6.83% | 5.98% | 0.85% |
| GOOGAlphabet Inc. C | 2.67% | 5.90% | 3.23% |
| AVGOBroadcom Inc | 2.97% | 5.04% | 2.07% |
| AMZNAmazon.Com Inc | 4.08% | 3.48% | 0.60% |
| METAMeta Platform Inc | 1.94% | 3.48% | 1.54% |
| MUMicron Technology, Inc. | 1.51% | 3.66% | 2.15% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.42% | 2.58% | 1.16% |
| LLYEli Lilly & Co. | 1.33% | 2.67% | 1.34% |
94.8% of VOOG 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 VOOG?
SPY has an expense ratio of 0.09% while VOOG charges 0.07%. VOOG is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, SPY or VOOG?
Over the past year SPY returned +19.97% vs +21.67% for VOOG, so VOOG leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +13.41% vs +15.77% for VOOG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VOOG?
VOOG has been the more volatile fund at 15.4% annualized versus 14.1% for SPY. Worst drawdown: SPY -34.1% vs VOOG -32.7%.
Should I hold both SPY and VOOG?
SPY and VOOG have a monthly-return correlation of 0.96, 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 VOOG?
94.8% of VOOG's money is in holdings SPY also owns. 94.8% of VOOG's is in holdings SPY also owns. They hold 144 positions in common, counted across the 504 positions we hold weights for in SPY and 146 in VOOG.
Which pays a higher dividend, SPY or VOOG?
SPY yields 1.01% while VOOG yields 0.47%, so SPY currently pays the higher dividend yield.
Is VOOG better than SPY?
VOOG has a lower expense ratio. VOOG led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 54.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.