VTI vs SPY: which ETF is better?
Vanguard Morningstar Total Stock Market ETF (VTI) and State Street SPDR S&P 500 ETF (SPY) compared on fees, holdings overlap, dividend yield, returns and risk, using the latest data.
- VTI and SPY have very high overlap: 85% of each fund by weight sits in the same holdings.
- VTI is cheaper at 0.03% a year against 0.09% for SPY, about $6 less in fees per $10,000 invested each year.
- Over the last 10 years, SPY returned an average of 15.2% a year against 14.8% for VTI, with dividends reinvested.
- VTI is more diversified, with 3,469 holdings against 504 in SPY.
- Overlap by weight
- 85.5%
- Shared holdings
- 500
| VTI | SPY | |
|---|---|---|
| Name | Vanguard Morningstar Total Stock Market ETF | State Street SPDR S&P 500 ETF |
| Issuer | Vanguard | SPDR |
| Listed on | NYSE Arca · USD | NYSE Arca · USD |
| Expense ratio | 0.03% | 0.09% |
| Assets (AUM) | $689B | $778B |
| Launched | May 24, 2001 | Jan 22, 1993 |
| Holdings | 3,469 | 504 |
| Dividend yield (12m) | 1.09% · quarterly | 1.03% · quarterly |
| Asset class | Large Cap Equity | Equity |
| Annualised return | VTI | SPY |
|---|---|---|
| 1 year | +11.1% | +10.9% |
| 3 years | +20.4% | +20.5% |
| 5 years | +9.9% | +10.9% |
| 10 years | +14.8% | +15.2% |
| Volatility | 15.5% | 15.3% |
| Max drawdown | -35.0% | -33.7% |
Volatility is the annualised standard deviation of daily returns over 3 years. Max drawdown is the largest fall from a peak over the last 10 years, or since launch.
| Holding | VTI | SPY |
|---|---|---|
| NVDANVIDIA Corp | 7.13% | 6.93% |
| AAPLApple Inc | 6.63% | 7.92% |
| MSFTMicrosoft Corp | 5.19% | 6.27% |
| AMZNAmazon.com Inc | 3.30% | 4.03% |
| GOOGLAlphabet Inc | 2.76% | 2.61% |
| AVGOBroadcom Inc | 2.28% | 2.19% |
| GOOGAlphabet Inc | 2.18% | 2.11% |
| METAMeta Platforms Inc | 2.18% | 2.10% |
| TSLATesla Inc | 1.36% | 1.53% |
| LLYEli Lilly & Co | 1.34% | 1.72% |
Pull each fund's details, full price history and holdings into Google Sheets or Excel, so your comparison updates itself.
=SF("VTI","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("VTI","2016-10-01",TODAY(),"dailyAdj")=SF("SPY","etfInfo","expenseRatio&assetsUnderManagement&holdingsCount")=SF_TIMESERIES("SPY","2016-10-01",TODAY(),"dailyAdj")Prices to Nov 6, 2026; holdings last checked Nov 6, 2026. Returns are in each fund's trading currency (USD). Past performance doesn't predict future returns. For information only, not investment advice.
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VTI vs SPY: frequently asked questions
How much do VTI and SPY overlap?
85.5% by weight. They share 500 holdings, and that share of each fund is invested in exactly the same positions. That's very high, so holding both adds little diversification.
Is VTI or SPY cheaper?
VTI is cheaper. VTI's expense ratio is 0.03% a year and SPY's is 0.09%, so on $10,000 you'd pay about $3 and $9 a year.
Which has performed better, VTI or SPY?
Over the last 10 years, SPY has. VTI returned 14.8% and SPY 15.2% a year on average, including reinvested dividends, as of Nov 6, 2026. Past returns don't predict future ones.
Which pays a higher dividend, VTI or SPY?
VTI does. Over the last 12 months VTI yielded 1.09%, paid quarterly, and SPY 1.03%, paid quarterly.
Should I hold both VTI and SPY?
Holding both mostly doubles up on the same stocks, since 85% of each fund is in the same positions. Most investors pick one, often the cheaper one. This is general information, not advice.
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