SPY vs VOOV
State Street SPDR S&P 500 ETF Trust vs Vanguard S&P 500 Value ETF
Which is better, SPY or VOOV?
Large Cap Blend against Large Cap Value.
VOOV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VOOV over 1Y. The two have moved almost in lockstep, correlation 0.93. VOOV is less concentrated, with 23.6% of the fund in its ten largest positions against 37.8%.
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 | VOOV |
|---|---|---|
| Expense Ratio | 0.09% | 0.07%Best |
| AUM | $804.7B | $6.8B |
| Dividend Yield | 0.98% | 1.66% |
| Holdings | 505 | 444 |
| YTD Return | +11.97%Best | +11.30% |
| 1Y Return | +16.40% | +17.26%Best |
| 3Y Return (annualized) | +21.10%Best | +15.59% |
| 5Y Return (annualized) | +12.88%Best | +11.85% |
| Volatility (annualized) | 14.1%Best | 14.3% |
| Max Drawdown | -34.1%Best | -37.7% |
| $10,000 over 5 years | $18,327Best | $17,506 |
| Top 10 Weight | 37.8% | 23.6%Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 14, 2026 (16 years).
SPY vs VOOV 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 VOOV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard S&P 500 Value ETF (VOOV) is an ETF from Vanguard (US). Over the past year SPY returned +16.40% while VOOV returned +17.26%. Year to date, SPY is up 11.97% versus a gain of 11.30% for VOOV.
Over three years, SPY compounded at +21.10% per year against +15.59% for VOOV; over five years the annualized figures are +12.88% and +11.85% respectively. Across the full 16-year window we track, SPY has the edge at +13.30% annualized vs +10.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOOV has been the more volatile fund, with annualized monthly volatility of 14.3% 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 -37.7% for VOOV. 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 VOOV 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 0.98% against 1.66% for VOOV.
Holdings Overlap
60.8% of SPY's money is in holdings VOOV also owns. 98.3% of VOOV's money is in holdings SPY also owns.
Most of VOOV is already inside SPY. Owning both mostly buys the same companies twice.
424 positions in common, counted across the 504 positions we hold weights for in SPY and 431 in VOOV, against full books of 505 and 444.
What only one of them owns
Our book lists 6 positions for VOOV that do not appear in our book for SPY (0.8% of the fund), and 76 for SPY that do not appear in VOOV (38.9%).
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 VOOV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.26% | 7.68% | 0.42% |
| AMZNAmazon.Com Inc | 3.79% | 4.23% | 0.44% |
| XOMExxon Mobil Corp. | 1.04% | 2.18% | 1.14% |
| TSLATesla Inc | 1.52% | 1.13% | 0.39% |
| JPMJpmorgan Chase | 1.45% | 1.02% | 0.43% |
| WMTWalmart, Inc. | 0.71% | 1.65% | 0.94% |
| INTCIntel Corporation | 0.67% | 1.44% | 0.77% |
| COSTCostco Wholesale Corp. | 0.63% | 1.43% | 0.80% |
| BACBank of America Corp.: Financials | 0.62% | 1.37% | 0.75% |
| VVisa Inc Class A | 0.94% | 0.93% | 0.01% |
98.3% of VOOV 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 VOOV?
SPY has an expense ratio of 0.09% while VOOV charges 0.07%. VOOV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, SPY or VOOV?
Over the past year SPY returned +16.40% vs +17.26% for VOOV, so VOOV leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +13.30% vs +10.56% for VOOV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VOOV?
VOOV has been the more volatile fund at 14.3% annualized versus 14.1% for SPY. Worst drawdown: SPY -34.1% vs VOOV -37.7%.
Should I hold both SPY and VOOV?
SPY and VOOV 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 VOOV?
98.3% of VOOV's money is in holdings SPY also owns. 98.3% of VOOV's is in holdings SPY also owns. They hold 424 positions in common, counted across the 504 positions we hold weights for in SPY and 431 in VOOV.
Which pays a higher dividend, SPY or VOOV?
SPY yields 0.98% while VOOV yields 1.66%, so VOOV currently pays the higher dividend yield.
Is VOOV better than SPY?
VOOV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VOOV over 1Y. The two have moved almost in lockstep, correlation 0.93. VOOV is less concentrated, with 23.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.