An exchange-traded fund (ETF) is a type of pooled investment security that operates much like a mutual fund. However, unlike mutual funds, ETFs can be purchased and sold throughout the trading day for whatever price they are trading at on the exchange that day. They typically track an index, commodity, bonds or a basket of assets like an index fund, offering diversification with the flexibility of trading a stock.

How do these ETFs track markets?

SPYV tracks a value-based strategy focusing on large-cap companies within the S&P 500 that exhibit value characteristics. Conversely, VTI aims to provide exposure to the entire US stock market, covering large, mid, and small-cap stocks across all sectors. While SPYV's specific index tracked is not available for assessment, its category indicates a value tilt, whereas VTI offers total market breadth.

What is the difference in expense ratios?

The expense ratio represents the annual fee charged by the fund. VTI has a lower expense ratio of 0.03%, compared to SPYV's 0.04%. Over time, these seemingly small differences can impact net returns. For instance, a 0.01% difference on a $10,000 investment equals $1 annually. While low, this fee gap is a tangible factor for cost-conscious investors comparing long-term holding costs between the two funds.

What is the dividend yield?

The dividend yield is the annual dividend payment divided by the fund's current market price. SPYV has a dividend yield of 1.69%, while VTI's yield is 1.02%. This suggests SPYV is distributing more income relative to its price compared to VTI. Investors focused on income might look at the higher yield, whereas those focused on total market growth might prioritise the broader exposure despite the lower distribution rate.

Why are there shared holdings?

Both SPYV and VTI list Apple (AAPL), Amazon (AMZN), and Tesla (TSLA) in their top ten holdings. SPYV holds AAPL at 8.24%, while VTI holds it at 6.30%. The presence of these tech-heavy names in a value fund like SPYV can expose it to growth sectors, potentially diminishing the 'value' diversification benefits. These overlaps indicate that despite different strategies, they share some major market cap leaders.

How does fund size compare?

Asset size affects liquidity and stability. VTI is significantly larger, with net assets of $692.2 billion, compared to SPYV's $36.3 billion. VTI's massive size generally correlates with high liquidity and tight bid-ask spreads. SPYV, while smaller in net assets, still maintains a substantial size that is generally sufficient for most retail investors, but the disparity in net assets is a notable difference between the two ETFs.

What is the risk in holding concentration?

Concentration risk refers to how susceptible an ETF is to a few individual stocks dominating its performance. VTI's top holdings are heavily concentrated in technology names like NVDA and AAPL. SPYV's top holding is also AAPL. If a top holding performs poorly, the impact on the fund's net asset value is significant. The more concentrated the top holdings, the higher the specific risk from those individual companies.

How to determine which fund fits goals?

Choosing a fund depends on investment objectives. VTI is suitable for investors seeking total market exposure and a blend of large, mid, and small-cap growth. SPYV is associated with a 'Large Value' category, which may appeal to those looking to tilt their portfolio towards value stocks that exhibit specific characteristics. Neither is inherently better; they serve different roles. Assessing your need for income versus growth, or broad exposure versus value tilt, helps align the ETF with your financial objectives.

SPYV vs VTI

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

Compare SPDR Portfolio S&P 500 Value ETF (SPYV) and Vanguard Total Stock Market ETF (VTI). This page analyses fees, holdings, dividends, and how each fund tracks its market, helping you understand the differences between these large-cap ETFs. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SPYV

Metric

VTI

0.04%

Expense Ratio

0.03%

1.69%

Dividend Yield

1.02%

$36.32B

Net Assets

$692.20B

438

Holdings

3,514

Sep 25, 2000

Inception Date

May 24, 2001

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Index Tracked

–

Large Value

Fund Category

Large Blend

VTI costs about $1.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SPYV	VTI
AAPLApple Inc.	8.24%	6.30%
AMZNAmazon.com, Inc.	3.93%	3.41%
TSLATesla, Inc.	1.31%	1.40%

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Investment Analysis

SPYV

Pros

The fund charges a competitive 0.04% annual fee.
It holds 36.3 billion dollars in net assets.
A dividend yield of 1.69% exceeds many growth alternatives.

Considerations

Investing in top holdings like Apple exposes value tilt to growth sectors.
The index tracked is currently not available for assessment.
Sector weights are not available to judge industry diversification.

VTI

Pros

The fund charges an ultra-low 0.03% annual fee.
It manages a massive 692.2 billion dollars in net assets.
It provides total market exposure across large, mid and small caps.

Considerations

A 1.02% yield may satisfy lower income requirements only.
Its top holdings are heavily concentrated in large technology names.
The specific index tracked is currently not available for review.

About SPYV and VTI

SPYV (SPYV)

The SPDR Portfolio S&P 500 Value ETF is designed to provide investors with exposure to large-capitalisation companies that are considered value-oriented. This fund seeks to track the performance of the S&P 500 Value Index, which includes a subset of the broader S&P 500 index. With a very low expense ratio of 0.04%, it is an affordable option for those looking to diversify their portfolios. The fund holds 438 different stocks and currently has net assets of USD 36.32 billion. Investors should note that while the fund has a dividend yield of 1.69%, there is no guarantee of returns, and the value of investments can fluctuate. It is important to consider your own risk tolerance and investment objectives before making any investment decisions.

VTI (VTI)

This ETF offers broad exposure to the US equity market by tracking a comprehensive index of publicly traded companies. Designed as a large blend fund, it holds thousands of individual stocks, ranging from massive multinational corporations to smaller domestic firms. With an ultra-low expense ratio of 0.03%, it aims to provide cost-efficient long-term growth potential. The fund has a dividend yield of approximately 1.02%, reflecting the aggregate distributions from its holdings. Investors often consider this vehicle for core portfolio diversification, though it is essential to remember that stock market investments carry inherent risks, and values can fluctuate. Past performance is not indicative of future results, and returns are not guaranteed.

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SPYV vs VTI

Fund Snapshot