Best S&P 500 Index Funds 2026: VOO vs IVV vs SPLG vs SPY
S&P 500 Funds Interactive Comparison
| Ticker | Fund Name | Type | Expense Ratio | Assets (AUM) | Tracking Diff | Spread | Min Invest |
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Data scraped and verified for 7 funds. Null over fake data, always.
The Heavyweights: VOO vs SPY vs IVV
Vanguard's VOO remains the gold standard for long-term buy-and-hold investors. With a rock-bottom expense ratio of 0.03%, incredibly tight tracking to the index, and a structural focus on minimizing tracking error, it's arguably the best overall choice. Its only downside is a higher per-share price compared to SPLG, which matters less if your broker supports fractional shares.
BlackRock's IVV is virtually identical to VOO in cost (0.03%) and performance. It frequently engages in securities lending slightly more aggressively than Vanguard, which sometimes allows it to slightly outperform the index to cover its own fee. Between VOO and IVV, choose the one your broker offers without transaction fees or prefer based on brand loyalty.
The original ETF. SPY is uniquely structured as a Unit Investment Trust (UIT). This means it cannot reinvest dividends paid by underlying companies until it pays them out to shareholders (cash drag), and it charges a significantly higher 0.0945% expense ratio. For buy-and-hold investors, SPY is objectively worse than VOO or IVV. However, SPY boasts the highest trading volume and most liquid options chain in the world, making it the undeniable king for day traders and options sellers.
The dark horse. SPLG is State Street's low-cost answer to VOO and IVV. It holds the exact same index as SPY but operates under a modern ETF structure and charges a category-leading 0.02% expense ratio, officially making it the cheapest S&P 500 ETF. Its lower share price also makes it highly accessible for smaller investors without fractional share access.
Mutual Funds: SWPPX vs FXAIX vs VFIAX
If you are investing through a 401(k) or prefer the simplicity of automatic fractional investing at exactly the end-of-day NAV, mutual funds are the way to go.
- Fidelity 500 Index Fund (FXAIX): The absolute cheapest mutual fund option at 0.015%. Zero minimum investment makes it unbeatable for Fidelity customers.
- Schwab S&P 500 Index Fund (SWPPX): Another phenomenal option at 0.02% with no minimum investment. The best choice for Schwab users.
- Vanguard 500 Index Fund Admiral Shares (VFIAX): The mutual fund version of VOO. Charges 0.04% and requires a $3,000 minimum investment. Thanks to Vanguard's patented structure, VFIAX shares the same tax efficiency as the VOO ETF.
Frequently Asked Questions
Data Sources & Methodology
ETF data sourced from fund prospectuses, SEC filings, and financial data aggregators. Expense ratios, holdings, and performance figures are updated periodically and may reflect slight delays from official filings.