What is an ETF and how does it differ from a mutual fund?

An exchange-traded fund (ETF) is a pooled investment security that trades on stock exchanges throughout the day, much like an individual stock. Unlike mutual funds, which price once per day at market close, ETFs offer intraday liquidity and usually have lower expense ratios. Both IVV and VOO are ETFs designed to track the S&P 500 Index, allowing investors to buy a diversified basket of the 500 largest US companies in a single transaction, offering broad market exposure with the flexibility of stock-like trading.

What does a 0.03% expense ratio mean for my investment?

The expense ratio is the annual fee charged by the fund to manage your investment, expressed as a percentage of the fund's assets. For both IVV and VOO, the expense ratio is 0.03%, which means you pay 3 cents annually for every $100 invested. This fee covers operational costs, index licensing, and management. Because both funds track the same index with identical fees, the cost impact on long-term returns is negligible, making this a non-differentiating factor in this specific comparison.

What does it mean that sector weights are not available?

Sector weights show how a fund's assets are divided among different industry groups, such as Technology or Healthcare. In the provided data for both IVV and VOO, sector weights are marked as 'not available'. This means we cannot directly compare the specific industry distribution between the two funds using only this dataset. However, since both track the S&P 500, their sector allocations should theoretically be extremely similar, though precise verification requires external resources not included in the current figures.

How do the top holdings compare between IVV and VOO?

Both funds share the same top 10 holdings: NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, META, MU, and TSLA. While the order and specific weights vary slightly—for instance, IVV holds 7.43% in AAPL while VOO holds 7.03%—the overall exposure to these major companies is nearly identical. This high degree of overlap indicates that for most investors, the performance difference due to holdings alone would be minimal, as both funds are heavily concentrated in the same leading tech and consumer firms.

Is the size of a fund important when choosing between IVV and VOO?

Fund size, measured in net assets, can influence liquidity and trading efficiency. VOO has $1.08 trillion in net assets, making it larger than IVV's $846.6 billion. While both are exceptionally large and liquid, VOO's greater size might offer slightly tighter bid-ask spreads during extreme market stress. However, for typical buy-and-hold investors, this difference is unlikely to impact returns. Both funds are sufficiently scaled to support substantial trading volumes without significant market impact or liquidity constraints.

Does the inception date affect the performance history of IVV or VOO?

IVV launched on May 15, 2000, while VOO launched on September 7, 2010. IVV has a longer operating history, including track records through the 2008 financial crisis. However, since both are index funds tracking the S&P 500, their past performance is dictated by the index itself, not the fund's age. The older inception date of IVV provides more historical data points for analysis, but for future expected returns based on the same underlying index, the date difference is largely academic rather than impactful.

Which fund offers a higher dividend yield?

Based on the provided data, IVV has a dividend yield of 1.08%, while VOO has a yield of 1.03%. IVV currently offers a slightly higher regular income distribution. However, dividend yields can fluctuate based on market prices and company payout policies. For income-focused investors, this 0.05 percentage point difference is marginal. Both funds distribute dividends from the underlying companies in the S&P 500, and the total return from reinvesting these dividends will likely be nearly identical over the long term.

How do IVV and VOO handle market fluctuations?

Both IVV and VOO are designed to replicate the performance of the S&P 500 Index. When the market rises or falls, these funds will move correspondingly. They do not use active management to try to beat the market; instead, they buy the constituent stocks in proportion to their index weight. This means their volatility and risk profile are tied directly to the large-cap US equities market, providing diversified exposure to the broader economic trends affecting these 500 companies.

What role do concentration risks play in these funds?

Both funds exhibit concentration risk because the S&P 500 is weighted by market capitalisation, meaning larger companies like NVDA and AAPL have greater influence on performance. The data shows IVV slightly overweights Meta Platforms and Apple, while VOO has a higher weight in Microsoft and Alphabet. These minor variances mean one fund might perform slightly better than the other depending on which specific tech leaders outperform. However, both remain diversified across 500 holdings, mitigating the risk of single-stock failure.

Can I use both IVV and VOO in the same portfolio?

Technically, you can hold both, but it may not be efficient. Since both track the same index with similar expense ratios and holdings, holding both adds little diversification benefit and could complicate tax reporting and rebalancing. Most investors choose one as their core US equity holding. If you already hold one, adding the second is generally redundant unless there are specific broker constraints or share lot preferences. A single, low-cost S&P 500 ETF typically serves as a complete large-cap US equity allocation.

What is the best way to interpret the 'not available' data points?

When data like sector weights or index tracked is marked 'not available' in this comparison, it indicates that the specific figures were not provided in the source dataset. It does not imply the data does not exist generally, but rather that it is outside the scope of this snapshot. Investors should consult the fund providers' official websites or prospectuses for detailed sector breakdowns and exact index tracking methodologies to make fully informed decisions beyond the metrics listed here.

Disclaimer regarding this comparison.

This content is for educational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. Past performance is not indicative of future results. The data provided is based on a snapshot as of 2026-09-22 and may change. Investors should conduct their own research or consult with a qualified financial advisor before making investment decisions, considering their individual financial situation, risk tolerance, and investment objectives.

IVV vs VOO

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare IVV (iShares Core S&P 500 ETF) and VOO (S&P 500 Vanguard ETF). Both track the S&P 500 with a 0.03% expense ratio. Explore fee structures, major holdings, dividend yields, and index tracking methods. IVV launched May 2000; VOO launched Sep 2010. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

IVV

Metric

VOO

0.03%

Expense Ratio

0.03%

1.08%

Dividend Yield

1.03%

$846.56B

Net Assets

$1.08T

508

Holdings

516

May 15, 2000

Inception Date

Sep 7, 2010

–

Index Tracked

–

Large Blend

Fund Category

Large Blend

Both funds charge the same annual fee.

Shared Top Holdings

Holding	IVV	VOO
NVDANVIDIA Corporation	8.15%	8.08%
AAPLApple Inc.	7.43%	7.03%
MSFTMicrosoft Corporation	5.55%	5.70%
AMZNAmazon.com, Inc.	3.77%	3.84%
GOOGLAlphabet Inc.	3.11%	3.01%
AVGOBroadcom Inc.	2.58%	2.65%
GOOGAlphabet Inc.	2.48%	2.40%
METAMeta Platforms, Inc.	2.22%	1.90%
MUMicron Technology, Inc.	1.74%	1.63%
TSLATesla, Inc.	1.56%	1.57%

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SCHG vs VOO

Compare SCHG and VOO: 0.04% vs 0.03% expense ratio, large-cap growth vs the S&P 500, 196 vs 516 holdings, and a 0.37% vs 1.04% dividend yield.

SCHD vs VOO

SCHD vs VOO: SCHD yields 3.12% from 102 dividend stocks for 0.06% a year, VOO tracks the S&P 500 for 0.03%. Compare fees, holdings and yield.

SPY vs VOO

Compare SPY vs VOO, two S&P 500 ETFs with identical top holdings. SPY charges 0.09% a year while VOO charges 0.03%, a $6 gap per $10,000 invested.

Investment Analysis

IVV

Pros

As a fund launched in 2000, it possesses a lengthy operating history and substantial scale of $846.6 billion.
It maintains a very low expense ratio of 0.03%, making it highly cost-effective for long-term capital accumulation.
The dividend yield of 1.08% provides slightly higher regular income distribution compared to its primary competitor in this comparison.

Considerations

Its net assets are smaller than the alternative fund, which might theoretically result in marginally less liquidity during extreme market stress.
The sector weights data is currently not available, limiting the ability to instantly verify specific industry exposures from the provided metrics.
It exhibits a minor overweight in Meta Platforms and Apple compared to the alternative, potentially altering its concentration risk profile slightly.

VOO

Pros

With $1.08 trillion in net assets, it is significantly larger than the competitor, ensuring high liquidity and robust market participation.
The expense ratio of 0.03% matches the competitor, offering an equally low-cost entry point for the large blend asset class.
The fund holds a higher weight in Microsoft and Alphabet, which some investors might view as a different concentration risk.

Considerations

It has a shorter operating history since inception in 2010, lacking the pre-2008 crisis track record of the older fund.
The dividend yield of 1.03% is lower than the alternative, resulting in reduced regular income generation for yield-focused investors.
Sector weights are not available, preventing immediate assessment of specific industry distribution without consulting further external resources.

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About IVV and VOO

IVV (IVV)

The iShares Core S&P 500 ETF (IVV) is a fund designed to provide investors with broad exposure to the US large-cap equity market. By tracking the S&P 500 index, it aims to replicate the performance of 500 of the largest publicly traded companies in the United States, covering sectors such as technology, healthcare, and finance. The fund has a low expense ratio of 0.03%, making it a cost-effective option for those seeking diversified market exposure. Since its inception in May 2000, it has grown significantly, managing approximately USD 846.56 billion in net assets. The dividend yield stands at 1.08%. While the S&P 500 has historically shown growth, investors should remember that all investments carry risk, and values can fluctuate. This ETF is generally suitable for long-term investors seeking a foundational component for a diversified portfolio.

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

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IVV vs VOO

Fund Snapshot