VOO vs SPLG
Vanguard S&P 500 (VOO) vs SPDR Portfolio S&P 500 (SPLG) — Two ultra-low cost S&P 500 ETFs
Understanding VOO and SPLG
VOO (Vanguard S&P 500 ETF) is Vanguard's flagship S&P 500 fund, launched in 2010. With over $$1.5T in assets, it's one of the largest ETFs in the world. Vanguard's reputation for low costs and investor-friendly practices makes VOO a favorite among buy-and-hold investors.
SPLG (SPDR Portfolio S&P 500 ETF) is State Street's low-cost answer to VOO. While State Street's flagship SPY charges 0.09%, SPLG matches Vanguard's rock-bottom pricing. SPLG's main advantage is its much lower share price, making it accessible to investors buying whole shares with smaller amounts.
The reality: VOO and SPLG are functionally identical. Same index, same (or nearly same) expense ratio, same returns. Your choice comes down to preference for Vanguard vs State Street, or whether SPLG's lower share price matters for your investing approach.
Head to Head
VOO and SPLG track the same S&P 500 index with nearly identical expense ratios. The main differences are share price and total assets. Compare the metrics below.
| Metric | VOO | SPLG | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.02% | SPLG |
| Total Assets | $1.5T | $97.3B | VOO |
| Share Price | $609.09 | $77.74 | SPLG |
| 1 Year Return | +21.60% | +19.99% | Tie |
| 5 Year Return | +83.88% | +86.49% | Tie |
| 10 Year Return | +292.23% | +294.69% | Tie |
| Volatility (3Y) | 11.6% | 11.6% | Tie |
| Max Drawdown | -23.9% | -23.9% | Tie |
Growth of $10,000
Since both ETFs track the S&P 500, their growth curves are virtually identical. The lines overlap so closely that you can barely tell them apart — this confirms that your choice between VOO and SPLG has no practical impact on returns.
Monthly Returns Comparison
The heatmaps show month-by-month returns for both ETFs. As expected from funds tracking the same index, the patterns are identical. Green indicates positive months, red indicates negative.
VOO Monthly Returns
SPLG Monthly Returns
Key Differences
VOO (Vanguard S&P 500)
- • Launched in 2010 by Vanguard
- • Largest S&P 500 ETF by assets
- • 0.03% expense ratio
- • Higher share price (~$500+)
- • Strong brand recognition
SPLG (SPDR Portfolio S&P 500)
- • State Street's low-cost option
- • Same expense ratio (0.02-0.03%)
- • Much lower share price (~$60-70)
- • Easier to buy fractional amounts
- • Part of SPDR Portfolio ETF series
Share Price Comparison
SPLG's lower share price makes it easier to invest smaller amounts:
Note: Many brokers now offer fractional shares, making share price less relevant.
The Bottom Line
VOO and SPLG are functionally identical — same index, same expense ratio, same returns. Choose VOO if you prefer Vanguard's platform or brand. Choose SPLG if you want a lower share price or use a SPDR-focused brokerage. Either choice is excellent for long-term S&P 500 investing.
Frequently Asked Questions
Is VOO or SPLG better?
Both are excellent choices with virtually identical expense ratios and returns. VOO has more assets under management, while SPLG has a lower share price. For most investors, there's no meaningful difference.
Why is SPLG's share price so much lower than VOO?
Share price is determined by how the fund was structured at launch and subsequent splits. A lower share price doesn't mean SPLG is "cheaper" — both have the same expense ratio and track the same index.
What is the expense ratio for VOO vs SPLG?
Both have expense ratios of 0.02-0.03%, among the lowest in the industry. The difference is negligible — on a $100,000 investment, you'd pay roughly $20-30 per year with either fund.
Should I switch from VOO to SPLG or vice versa?
There's no compelling reason to switch between these funds. If you're in a taxable account, selling would trigger capital gains taxes that far outweigh any minimal differences between them.
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Last updated: 3/16/2026