VOO vs SPY
VOO (Vanguard) and SPY (State Street) both hold the same 500 companies in the S&P 500. That means their price charts sit almost on top of each other. What separates them is cost and structure, which is exactly what this page is built to explain.
VOO and SPY track the exact same S&P 500 index, so the real difference is cost and intended use, not what they own.
These track the same index
VOO and SPY track the identical S&P 500 index, so any performance gap you see is expected to be very small and comes mostly from the cost difference, not from better stock picking. For a comparison like this, the meaningful differences are cost, structure, and how you intend to use the fund, not the return line.
Pick two investments, choose a time range, and we will show how each performed with real data.
Price return counts only the change in market price. Dividends are ignored.
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Not enough overlapping history
We could not find enough real, overlapping price data for Vanguard S&P 500 ETF and SPDR S&P 500 ETF over this range. Try a different range, or a different pair. We do not fill gaps with estimated data.
For education only. Money Masters does not give investment advice or recommendations, and nothing here is a suggestion to buy or sell any asset. Figures use real historical prices; total return uses real dividend data where it is available and is otherwise shown as price return. Fees and taxes are not included. Past performance does not guarantee future results.
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Cost and what each tracks
Over long holding periods, a small fee difference compounds. Here is the cost and the index behind each fund.
Expense ratios as of 2026, from each fund’s provider. Verify the current figure on the fund’s page before investing. See our guide on why fees matter and run the impact in the compound interest calculator.
Which investor is each designed for?
These are educational profiles, not advice. The right fit depends on your own goals, timeline, and comfort with risk.
A long-term buy-and-hold investor who wants the same S&P 500 at the lowest cost, where the fee gap quietly compounds over decades.
An active trader or options user who values SPY being the most heavily traded fund in the world, with the deepest liquidity and options market.
Frequently asked questions
What is the difference between VOO and SPY?
Both track the same S&P 500 index, so they hold the same companies and move almost identically. VOO charges 0.03% a year versus SPY at about 0.09%, and SPY is structured as an older unit investment trust with far deeper trading liquidity. For long-term holders the cost favors VOO; for heavy traders SPY offers the busiest market.
Is VOO cheaper than SPY?
Yes. VOO charges roughly 0.03% a year and SPY roughly 0.09%. On the same S&P 500 exposure, that difference works quietly in VOO’s favor over long holding periods, which is the main reason long-term investors often prefer it.
Will VOO and SPY have different returns?
Only slightly, and mostly because of the fee difference. They track the same index, so a large performance gap would be a red flag rather than the norm. Past performance does not guarantee future results.
Still unsure?
Keep learning. These pick up exactly where this comparison leaves off.