SPY vs VTI
SPY vs VTI
State Street SPDR S&P 500 ETF Trust vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | SPY | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.03% | |
| AUM | $789.1B | $663.5B | |
| Dividend Yield | 1.01% | 1.07% | |
| Holdings | 505 | 3,543 | |
| YTD Return | +9.93% | +10.14% | |
| 1Y Return | +19.50% | +19.82% | |
| 3Y Return (annualized) | +19.33% | +18.94% | |
| 5Y Return (annualized) | +12.82% | +11.79% | |
| Volatility (annualized) | 15.3% | 15.4% | |
| Max Drawdown | -56.5% | -56.6% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | May 24, 2001 |
SPY vs VTI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year SPY returned +19.50% while VTI returned +19.82%. Year to date, SPY is up 9.93% versus a gain of 10.14% for VTI.
Over three years, SPY compounded at +19.33% per year against +18.94% for VTI; over five years the annualized figures are +12.82% and +11.79% respectively. Across the full 25-year window we track, SPY has the edge at +8.74% annualized vs +7.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.3% 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 -56.5% for SPY and -56.6% for VTI. 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 VTI charges 0.03%. On a $10,000 position that is $9 vs $3 annually, a gap of $6 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.07% for VTI.
Holdings Overlap
SPY and VTI share 461 holdings out of 2825 unique holdings combined, representing a 85.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VTI | Difference |
|---|---|---|---|
| NVDA | 7.31% | 6.32% | 0.99% |
| AAPL | 7.09% | 5.84% | 1.25% |
| MSFT | 4.43% | 3.81% | 0.62% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings SPY shares with VTI 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 VTI?
SPY has an expense ratio of 0.09% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, SPY or VTI?
Over the past year SPY returned +19.50% vs +19.82% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (25 years), SPY annualized +8.74% vs +7.99% for VTI. Past performance does not guarantee future results.
Which is riskier, SPY or VTI?
VTI has been the more volatile fund at 15.4% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VTI -56.6%.
Should I hold both SPY and VTI?
SPY and VTI 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 VTI?
SPY and VTI share 461 common holdings with a 85.8% weight overlap. Combined, they hold 2825 unique securities.
Which pays a higher dividend, SPY or VTI?
SPY yields 1.01% while VTI yields 1.07%, so VTI currently pays the higher dividend yield.
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