VTI vs SPY: Head-to-Head Comparison
VTI vs SPY: Vanguard Total Stock Market ETF has an expense ratio of 0.03% while SPDR S&P 500 ETF Trust charges 9.45%. VTI holds 3,644 securities vs SPY's 503. 5-year returns: 15.20% vs 15.70%.
Last updated: April 2026
Total Market vs S&P
Quick Verdict
VTI edges out SPY with a stronger Beginner Suitability Score (9.5 vs 9). It offers lower fees for new investors.
Side-by-Side Comparison
| Metric | VTI | SPY |
|---|---|---|
| Expense Ratio | 0.03% | 9.45% |
| AUM | $430.0B | $600.0B |
| Dividend Yield | 1.30% | 1.20% |
| Holdings | 3,644 | 503 |
| 1-Year Return | 25.80% | 26.50% |
| 5-Year Return (Ann.) | 15.20% | 15.70% |
| 10-Year Return (Ann.) | 12.80% | 13.20% |
| Beta | 1.00 | 1.00 |
| P/E Ratio | 24.5 | 25.8 |
VTI 5-year annualized return is 15.20% compared to SPY's 15.70%. Over 10 years, VTI returned 12.80% vs SPY's 13.20%.
View data table
| Period | VTI Return | SPY Return |
|---|---|---|
| YTD | 2.90% | 3.10% |
| 1 Year | 25.80% | 26.50% |
| 3 Year | 10.20% | 11.10% |
| 5 Year | 15.20% | 15.70% |
| 10 Year | 12.80% | 13.20% |
Key Differences Between VTI and SPY
VTI (Vanguard Total Stock Market ETF) is a u.s. total market fund managed by Vanguard. VTI gives you exposure to the entire U.S. stock market in one fund, covering large-cap, mid-cap, and small-cap companies. With over 3,600 holdings, it is one of the most diversified U.S. equity ETFs you can buy. Beginners often choose VTI over S&P 500 funds because it includes smaller companies that have historically provided additional growth potential.
SPY (SPDR S&P 500 ETF Trust) is a u.s. large-cap blend fund managed by State Street Global Advisors. SPY was the very first ETF listed in the United States and remains the most heavily traded ETF in the world. Like VOO, it tracks the S&P 500 index, but SPY is especially popular among active traders due to its enormous daily trading volume. Beginners should know that SPY and VOO hold the same stocks, but SPY has a slightly higher expense ratio.
The most notable differences are in fees (0.03% vs 9.45%), number of holdings (3,644 vs 503), and 5-year returns (15.20% vs 15.70%).
VTI vs SPY multi-factor comparison: VTI has a 0.03% expense ratio, 15.20% 5-year return, 3,644 holdings, 1.00 beta, and 1.30% yield. SPY has 9.45% expense ratio, 15.70% 5-year return, 503 holdings, 1.00 beta, and 1.20% yield.
View data table
| Metric | VTI | SPY |
|---|---|---|
| Expense Ratio | 0.03% | 9.45% |
| 5-Year Return | 15.20% | 15.70% |
| Holdings | 3,644 | 503 |
| Beta | 1.00 | 1.00 |
| Dividend Yield | 1.30% | 1.20% |
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Holdings Overlap Analysis
100%
Holdings Overlap
VTI and SPY share 100% of their top holdings. This means they are very similar funds — owning both would result in significant duplication in your portfolio. For most beginners, choosing one is sufficient.
VTI and SPY share 100% of their top holdings (high overlap). VTI has 3,644 total holdings and SPY has 503. Common holdings include AAPL, MSFT, NVDA.
View data table
| Metric | VTI | SPY |
|---|---|---|
| Overlap | 100% | 100% |
| Unique Holdings | 0% | 0% |
| Total Holdings | 3,644 | 503 |
Cost Comparison Over Time
If you invest $10,000 and hold for 20 years (assuming 8% annual returns):
VTI
Fee cost: $258
SPY
Fee cost: $39,143
Over 20 years, the fee difference amounts to $38,885 on a $10,000 investment. VTI saves you more in fees over time.
On a $10,000 investment over 20 years at 8% return, VTI (0.03% fee) grows to $46,351 while SPY (9.45% fee) grows to $7,467. The fee difference costs $38,884.
View data table
| Year | VTI Value | SPY Value |
|---|---|---|
| 0 | $10,000 | $10,000 |
| 5 | $14,673 | $9,296 |
| 10 | $21,529 | $8,641 |
| 15 | $31,590 | $8,032 |
| 20 | $46,351 | $7,467 |
Which One Should a Beginner Choose?
Choose VTI if: You want investors who want complete u.s. stock market coverage in a single fund, beginners building a simple two-fund or three-fund portfolio, long-term investors who want small-cap exposure alongside large-caps. It's managed by Vanguard with an expense ratio of 0.03%.
Choose SPY if: You want active traders who need high liquidity and tight spreads, options traders looking for the deepest options market available, institutional investors executing large block trades. It's managed by State Street Global Advisors with an expense ratio of 9.45%.
Can You Own Both VTI and SPY?
With 100% holdings overlap, owning both means you're essentially doubling down on the same stocks. For beginners, we recommend picking one to keep things simple. If you want more diversification, consider pairing your choice with an international ETF like VXUS or a bond ETF like BND instead.
Frequently Asked Questions
Should I buy VTI or SPY?▾
VTI edges out SPY with a stronger Beginner Suitability Score (9.5 vs 9). It offers lower fees for new investors. However, both are solid options. VTI is best for investors who want investors who want complete u.s. stock market coverage in a single fund, while SPY is better suited for active traders who need high liquidity and tight spreads.
What is the difference between VTI and SPY?▾
VTI (Vanguard Total Stock Market ETF) tracks u.s. total market investments with 3,644 holdings and a 0.03% expense ratio. SPY (SPDR S&P 500 ETF Trust) focuses on u.s. large-cap blend with 503 holdings at 9.45%. Their top holdings overlap by 100%.
Can I own both VTI and SPY?▾
Since VTI and SPY have 100% holdings overlap, owning both means significant duplication. Most beginners are better off choosing one.