SPY vs VTILX
State Street SPDR S&P 500 ETF Trust vs Vanguard Total International Bond II Index Fund Class Institutional
Which is better, SPY or VTILX?
VTILX costs less.
VTILX 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 | SPY | VTILX |
|---|---|---|
| Expense Ratio | 0.09% | 0.07%Best |
| AUM | $804.7B | $141.9B |
| Dividend Yield | 0.98% | 4.23% |
| Holdings | 505 | 7,415 |
| YTD Price Return | +10.93% | -2.23% |
| 1Y Price Return | +16.19% | -4.29% |
| 3Y Price Return (annualized) | +19.13% | -0.71% |
| 5Y Price Return (annualized) | +11.21% | - |
| Volatility (annualized) | 15.7% | 6.0%Best |
| Max Drawdown | -25.4% | -15.3%Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | - |
| Inception | Jan 22, 1993 | Feb 17, 2021 |
Not shown on this pair: $10,000 over 4.9 years, Top 10 Weight.
A price return is not the return of a fund that pays its income out. The coupon or distribution never appears in the price, so the return rows carry no winner here. SPY currently yields 0.98% and VTILX 4.23%.
Volatility and max drawdown, and the $10,000 over 4.9 years row, are measured over the window both funds cover: Oct 25, 2021 to Sep 9, 2026 (4.9 years).
SPY vs VTILX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard Total International Bond II Index Fund Class Institutional (VTILX) is a mutual fund from Vanguard (US). Over the past year SPY's price moved +16.19% and VTILX's -4.29%, before the income each one paid out.
Over three years, SPY compounded at +19.13% per year against -0.71% for VTILX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 6.0% for VTILX. 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 -25.4% for SPY and -15.3% for VTILX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while VTILX 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 4.23% for VTILX.
Structure and taxes
VTILX is a mutual fund and SPY 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
At least 17.1% of SPY's money is in holdings VTILX also owns.
Stated as a floor: for VTILX, our book for it covers 7.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and VTILX share little of their money.
The two holdings books were reported 277 days apart, SPY as of Aug 4, 2026 and VTILX as of Oct 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
12 positions in common, counted across the 504 positions we hold weights for in SPY and 1,459 in VTILX, against full books of 505 and 7,415.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VTILX | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.83% | 0.00% | 6.83% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 0.00% | 5.50% |
| JPMJpmorgan Chase & Co. | 1.44% | 0.01% | 1.43% |
| WMTWalmart, Inc. | 0.73% | 0.00% | 0.73% |
| ABBVAbbvie Inc. | 0.65% | 0.00% | 0.65% |
| PGProcter & Gamble Company | 0.52% | 0.00% | 0.52% |
| GSGoldman Sachs Group Inc. | 0.47% | 0.00% | 0.47% |
| CCitigroup Inc. | 0.35% | 0.00% | 0.35% |
| MCDMcdonald'S Corp | 0.29% | 0.01% | 0.28% |
| MCKMckesson Corp. | 0.15% | 0.00% | 0.15% |
You are not choosing between two funds in isolation.
Whichever of SPY and VTILX 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, SPY or VTILX?
SPY has an expense ratio of 0.09% while VTILX charges 0.07%. VTILX is the cheaper option, by $2 a year on a $10,000 investment.
Which is riskier, SPY or VTILX?
SPY has been the more volatile fund at 15.7% annualized versus 6.0% for VTILX. Worst drawdown: SPY -25.4% vs VTILX -15.3%.
Should I hold both SPY and VTILX?
SPY and VTILX have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and VTILX?
At least 17.1% of SPY's money is in holdings VTILX also owns. Our book for VTILX is partial, so the real figure is this or higher. They hold 12 positions in common, counted across the 504 positions we hold weights for in SPY and 1,459 in VTILX.
Which pays a higher dividend, SPY or VTILX?
SPY yields 0.98% while VTILX yields 4.23%, so VTILX currently pays the higher dividend yield.
Is it better to hold VTILX or SPY in a taxable account?
SPY is an ETF and VTILX 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 VTILX better than SPY?
VTILX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.