An in-depth review of VOO for long-term investors. We analyze its rock-bottom expense ratio, holdings, performance history, and compare it head-to-head with SPY and IVV.
The Vanguard S&P 500 ETF (VOO) is arguably the best core holding for the vast majority of retail investors. Tracking the S&P 500 index, it provides immediate exposure to the 500 largest publicly traded U.S. companies.
Its primary advantage is its incredibly low cost structure. With an expense ratio of just 0.03%, you keep almost all of your returns. It is incredibly tax-efficient, highly liquid, and perfectly suited for a "set it and forget it" buy-and-hold strategy.
All three of these ETFs track the exact same index (the S&P 500). Before fees, their returns are identical. The differences lie entirely in expense ratios and liquidity.
| ETF ↕ | Name ↕ | Expense Ratio ↕ | AUM ↕ | 10Y Return ↕ |
|---|
The Verdict: If you are a long-term investor, VOO or IVV are the superior choices due to their 0.03% expense ratios. SPY charges 3x more (0.09%) and is only preferable for active day traders or options traders who need massive daily liquidity.
Trailing total returns (including dividends).
Because VOO is market-cap weighted, the largest companies have the biggest impact on its performance. Here are the current top holdings driving the ETF:
Data presented on this page is sourced directly from live market feeds via Yahoo Finance API. Expense ratios, Assets Under Management (AUM), and performance metrics are updated automatically to reflect real-time trailing data as of 2026. Top holdings are based on the fund's most recent disclosures.
Westmount Fundamentals. "VOO ETF Review (2026): Vanguard S&P 500 Fees & Performance." westmountfundamentals.com/voo-etf-review-2026, 2026.