SPY vs VONE
SPY vs VONE
State Street SPDR S&P 500 ETF Trust vs Vanguard Russell 1000 ETF
Quick Verdict
VONE has a lower expense ratio. SPY delivered stronger 1-year returns. VONE offers more diversification with 999 holdings.
Side-by-Side Comparison
| Metric | SPY | VONE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.06% | |
| AUM | $789.1B | $8.3B | |
| Dividend Yield | 1.01% | 1.22% | |
| Holdings | 505 | 1,007 | |
| YTD Return | +13.28% | +13.00% | |
| 1Y Return | +23.94% | +23.31% | |
| 3Y Return (annualized) | +21.07% | +20.84% | |
| 5Y Return (annualized) | +13.27% | +12.56% | |
| Volatility (annualized) | 15.3% | 14.4% | |
| Max Drawdown | -56.5% | -34.7% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 20, 2010 |
SPY vs VONE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Russell 1000 ETF (VONE) is a ETF from Vanguard (US). Over the past year SPY returned +23.94% while VONE returned +23.31%. Year to date, SPY is up 13.28% versus a gain of 13.00% for VONE.
Over three years, SPY compounded at +21.07% per year against +20.84% for VONE; over five years the annualized figures are +13.27% and +12.56% respectively. Across the full 16-year window we track, VONE has the edge at +13.32% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.4% for VONE. 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 -56.5% for SPY and -34.7% for VONE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 1.00. 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 VONE 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 1.01% against 1.22% for VONE.
Holdings Overlap
SPY and VONE share 485 holdings out of 1017 unique holdings combined, representing a 86.0% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VONE | Difference |
|---|---|---|---|
| NVDA | 7.31% | 7.09% | 0.22% |
| AAPL | 7.09% | 5.93% | 1.16% |
| MSFT | 4.43% | 4.59% | 0.16% |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
See all 10 holdings SPY shares with VONE Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPY or VONE?
SPY has an expense ratio of 0.09% while VONE charges 0.06%. VONE is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, SPY or VONE?
Over the past year SPY returned +23.94% vs +23.31% for VONE, so SPY leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +8.84% vs +13.32% for VONE. Past performance does not guarantee future results.
Which is riskier, SPY or VONE?
SPY has been the more volatile fund at 15.3% annualized versus 14.4% for VONE. Worst drawdown: SPY -56.5% vs VONE -34.7%.
Should I hold both SPY and VONE?
SPY and VONE have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and VONE?
SPY and VONE share 485 common holdings with a 86.0% weight overlap. Combined, they hold 1017 unique securities.
Which pays a higher dividend, SPY or VONE?
SPY yields 1.01% while VONE yields 1.22%, so VONE currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.