Choosing between SPY and VOO gets asked about constantly, so here’s a look at how they actually stack up when digging into some key numbers.

I created a hypothetical $10k portfolio in Dividend Watch to analyze the differences, since most brokers don't offer similar dividend/total return insights.

If you tossed $10K into each a year ago, they ended up basically the same. VOO returned about $1,895, SPY about $1,846. Annual income from dividends is also close... $134 for VOO vs $127 for SPY. Not exactly life-changing differences.

Dividends are steady in both, since they track the same S&P 500 companies. SPY’s been paying a little more per share historically, but because VOO has a lower expense ratio (0.03% vs 0.09%), it usually edges out slightly better total returns over time. Not by a lot, but over decades it adds up.

Holdings are essentially identical. Both track the S&P 500, so you’re owning the same Apple, Microsoft, Nvidia, etc. The sector weightings are virtually the same too... tech around 35%, financials ~13%, healthcare ~9%.

So the real difference? Fees, it appears. SPY’s been around longer (since the 90s), but it charges more. VOO is newer, cheaper, and has become the favorite for long-term holders who care about squeezing every last bit of performance.

At the end of the day, they’re basically interchangeable. Most people just pick VOO for the lower expense ratio, unless they’re day trading and want SPY’s liquidity.

Do you stick with one, or doesn’t matter since they move in lockstep?

I (30yo) have a brokerage account through Robinhood and I’ve been slowly buying SPY (~25% of my portfolio) as a long-term ETF. I’ve recently come to learn that VOO may be better for “set and forget”. Would it be better to continue buying SPY or make the switch?

Everyone is saying VOO and chill, but isn’t SPY and chill a better option? I’m looking to invest for retirement over long term, what etfs do you recommend for my portfolio? I have 100 percent VOO right now. I was considering 80% VTI 20% QQQ but now I am considering just 100% SPY. Thoughts? Recommendations will be appreciated. Thanks.

I’ve heard the expense ratio is lower but it’s similar. I’ve seen a lot more love for VOO than SPY recently. I don’t quite understand expense ratio. Anything helps.

I’ve been following the market loosely for about 3 years but still a beginner.