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Dividend Vision

ETF Comparison

IVV vs SPY vs VOO: Same Index, Three Wrappers

A side-by-side of iShares Core S&P 500, the SPDR S&P 500 Trust, and Vanguard S&P 500 covering cost, size, and structure.

Updated October 21, 2026

How these figures are calculated: methodology.

Best for

  • IVVInvestors who want simple, diversified core exposure in one low-cost fund.
  • SPYInvestors who want simple, diversified core exposure in one low-cost fund.
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

IVV tops the group over the trailing twelve months with a 16.52% total return, against SPY at 16.41% and VOO at 16.50%. Across the 10-year window, VOO has the strongest compounding at 15.60% a year. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
IVV14.33%16.52%23.99%12.82%15.59%14.89%14.9%1.171.71-18.8%
SPY14.25%16.41%23.90%12.75%15.52%14.83%15.2%1.151.68-18.8%
VOO14.31%16.50%23.99%12.83%15.60%14.91%14.8%1.181.72-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 21, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricIVVSPYVOO
Full nameiShares Core S&P 500 ETFSPDR S&P 500 ETF TrustVanguard S&P 500 ETF
IssueriSharesState StreetVanguard
Last Close$776.65 as of October 21, 2026$773.09 as of October 21, 2026$710.72 as of October 21, 2026
Distribution rate1.13%0.98%1.03%
Trailing 12-month yield1.08%0.98%1.05%
Distribution Safety Score™ 979797
Safety-Adjusted Yield 1.10%0.95%1.00%
Expense ratio0.03%0.0945%0.03%
AUM$886B$810B$1.05T
Distribution frequencyQuarterlyQuarterlyQuarterly
Underlying indexS&P 500 IndexS&P 500 IndexS&P 500 Index
ObjectiveSeeks to track the investment results of an index composed of large-capitalization U.S. equities, measuring the performance of the large-cap sector of the U.S. equity market as determined by S&P Dow Jones Indices.Track the S&P 500 Index before expenses.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquityEquity
Inception date05/15/200001/22/199309/07/2010
Beta1.01.01.0
Last dividend$2.20$1.89 declared, pays 10/30/2026$1.82
Ex-dividend date09/15/202609/18/202609/28/2026
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iShares
ETFs467
Total AUM$4.65T

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares, operated by BlackRock, is one of the largest and most established ETF providers globally, known for offering broad, liquid index-tracking funds across nearly all asset classes and investment styles. The lineup encompasses a comprehensive range of strategies including core equity and bond exposure, dividend and income-focused funds, covered call strategies, ESG and thematic investments, factor-based approaches, alternatives, commodities, and municipal bonds, serving both individual and institutional investors. With numerous popular ticker symbols and extensive diversification across geographies, sectors, and investment objectives, iShares provides one of the market's widest selections of ETFs for building diversified portfolios.

See our curated list of related YouTube videos on IVV.

See all ETFs from iShares
State Street
ETFs186
Total AUM$2.15T

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPY.

See all ETFs from State Street
Vanguard
ETFs116
Total AUM$4.68T

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all ETFs from Vanguard

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Quick verdict

IVV (iShares Core S&P 500 ETF), SPY (SPDR S&P 500 ETF Trust), VOO (Vanguard S&P 500 ETF) are dividend ETFs that take different approaches.

IVV offers the highest reported yield at 1.13%, followed by VOO at 1.03%, SPY at 0.98%.

IVV and VOO tie for the lowest expense ratio at 0.03%, compared to 0.0945% for SPY.

VOO is the largest fund by assets ($1.05T), but assets alone do not establish trading costs or liquidity.

Top-holdings overlap

Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.

Same underlying security — SPY. All 3 funds are built on SPY — held directly, wrapped in an options-income overlay, or leveraged/inverse — so their returns are driven by the same security. A low top-holdings overlap below does not mean unrelated exposure, though the option or leverage overlay changes the risk-and-return profile.
8 shared positions
IVV 35.3% of its top-10 weight
SPY 36.2% of its top-10 weight
VOO 35.8% of its top-10 weight
PositionIVVSPYVOO
NVDA NVIDIA Corporation
8.15%
8.29%
8.35%
AAPL Apple Inc.
7.61%
7.81%
7.67%
MSFT Microsoft Corporation
5.91%
6.10%
5.89%
AMZN Amazon.com Inc
3.68%
3.91%
3.59%
GOOGL Alphabet Inc Class A
2.94%
2.94%
2.97%
GOOG Alphabet Inc Class C
2.42%
2.41%
2.43%
META Meta Platforms Inc.
2.33%
2.42%
2.40%
AVGO Broadcom Inc
2.28%
2.30%
2.47%
Holdings as-of dates unavailable · mode DIRECT (top 10)

Deep dive

Yield & income

On a $10,000 investment: IVV generates ~$28.25 cash per distribution, SPY generates ~$24.50 cash per distribution, VOO generates ~$25.75 cash per distribution at current distribution rates.

IVV yield1.13%
SPY yield0.98%
VOO yield1.03%

Cost & efficiency

Over 10 years on $10,000: IVV costs ~$30, SPY costs ~$95, VOO costs ~$30 in fees (simplified, not compounded).

IVV ER0.03%
SPY ER0.0945%
VOO ER0.03%

Strategy & risk

IVV tracks S&P 500 Index; SPY tracks S&P 500 Index with a large cap approach; VOO tracks S&P 500 Index with a large cap approach.

IVV beta1.0
SPY beta1.0
VOO beta1.0

Fund details

IVV is managed by iShares (launched 05/15/2000) with $886B in assets. SPY is managed by State Street (launched 01/22/1993) with $810B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1.05T in assets.

IVV AUM$886B
SPY AUM$810B
VOO AUM$1.05T
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Frequently asked questions

What is the difference between IVV, SPY, and VOO?

Same index, three wrappers. IVV (iShares Core S&P 500 ETF), SPY (SPDR S&P 500 ETF Trust), and VOO (Vanguard S&P 500 ETF) all track the S&P 500. Cost is 0.03%, 0.0945%, and 0.03%; size is $886B, $810B, and $1.05T as of October 2026. Issuer, fee, and structure are the live differences, not a yield race.

Which of IVV, SPY, VOO is best for dividend income?

It depends on your goals. IVV currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

Can I hold IVV, SPY, VOO together?

You can, but expect meaningful overlap: 8 of the disclosed top-10 positions are shared (see the holdings-overlap section above). Holding them together may double up on the same underlying names rather than diversify.

Which of IVV, SPY and VOO is safest?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: IVV scores 97, SPY scores 97, VOO scores 97. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has the lowest fees among IVV, SPY, VOO?

IVV has an expense ratio of 0.03%, SPY has an expense ratio of 0.0945%, VOO has an expense ratio of 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in IVV yields ~$28.25 cash per distribution ($113.00/year). $10,000 in SPY yields ~$24.50 cash per distribution ($98.00/year). $10,000 in VOO yields ~$25.75 cash per distribution ($103.00/year).

More comparisons to explore

IVV vs SPY vs VOO — at a glance

Generated October 17, 2026.

Overview

IVV, SPY, and VOO are all ETFs that track the S&P 500 Index, giving investors exposure to 500 large-cap U.S. equities with identical underlying holdings and performance targets. The three differ meaningfully in expense ratio, asset base, and distribution yield—factors that compound over decades of holding. All three maintain a beta of 1.0, meaning they move in line with the broad market. VOO is the largest by assets at $1053B, followed by SPY at $810B and IVV at $886B. On yield, IVV distributes at 1.13%, SPY at 0.98%, and VOO at 1.03%—all quarterly, all modest. IVV has the longest track record, with an inception date of 05/15/2000, while VOO is the newest at 09/07/2010. These yield differences reflect minor variations in how each fund reinvests dividends and manages cash, not differences in the underlying index.

Who each is best for

  • IVV: Fits investors who value a combination of low cost and a long operating history, and who prefer iShares' ecosystem integration and custody.
  • SPY: Fits investors comfortable paying a modest fee premium for the most actively traded S&P 500 ETF, which may appeal to frequent traders seeking tighter real-time spreads or those with a preference for State Street's infrastructure.
  • VOO: Fits investors prioritizing the lowest cost alongside the largest asset base, and those who prefer Vanguard's ownership structure or already hold other Vanguard funds. Over decades, this compounds.
  • Concentration in the top ten: The S&P 500 has grown increasingly concentrated in mega-cap technology and consumer names. All three ETFs carry identical exposure to this risk; an earnings miss or regulatory setback in the largest holdings could move all three in lockstep.
  • Large-cap earnings sensitivity: These funds track mature, highly profitable businesses with modest dividend payout ratios. Economic slowdown or higher interest rates that compress valuations could reduce both price appreciation and dividend income across all three.

Bottom line

If cost is your primary lever and you plan to hold long-term, IVV and VOO's 0.03% expense ratio creates a meaningful advantage over SPY's 0.0945%. SPY's premium is hardest to justify for buy-and-hold investors but may suit traders who value intraday liquidity. Past performance of the S&P 500 does not predict future results, and all three will move with broad market conditions.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

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These comparisons follow the Dividend Vision methodology.