What is the fee difference between VOO and VOOV?

VOO has an expense ratio of 0.03% and VOOV 0.07%, a gap of 0.04 percentage points. On $10,000 that is about $3 a year for VOO and roughly $7 for VOOV. Both are inexpensive, so the fee gap is small in dollar terms. The bigger difference between the funds is which stocks they hold, not what they cost.

What index does each fund track?

VOO tracks the S&P 500, the standard benchmark of large US companies, with 516 holdings in the fund. VOOV tracks the S&P 500 Value index, which takes the same S&P 500 constituents and scores them on measures such as book value, earnings and sales relative to price, keeping the stocks that screen as value. VOOV currently holds 450 stocks.

How much do VOO and VOOV overlap?

Every VOOV stock is also in VOO, since the value index is drawn from the S&P 500. The top-ten lists look different, though. VOO's top names are NVIDIA, Apple and Microsoft. VOOV's top ten includes Apple at 7.72%, Amazon at 3.96%, ExxonMobil, Walmart, Intel, Costco, Bank of America, Tesla, Chevron and Merck. Only Apple, Amazon and Tesla appear in both top tens.

Which fund pays a higher dividend yield?

VOOV pays more. Its yield is 1.65% against 1.04% for VOO. Value stocks tend to be more mature companies in sectors like energy, financials and consumer staples that return more cash to shareholders. VOO's yield is diluted by its large weight in growth companies that pay little or nothing.

Which fund suits which goal?

VOO is commonly used as a single core US equity holding because it captures the entire large-cap market at a very low cost. VOOV suits investors who want to tilt toward cheaper stocks, either because they expect value to outperform or because they want less exposure to expensive technology names. Neither is a complete portfolio on its own.

How large and liquid are VOO and VOOV?

VOO holds about $1.08 trillion in net assets and is among the most heavily traded ETFs in the world. VOOV holds about $6.69 billion. That is still a substantial fund, but spreads and volume are thinner than VOO's, so very large orders in VOOV may need more care. Both launched on 7 September 2010.

Are there tax or account considerations?

Both are US-listed ETFs. Non-US investors may have US withholding tax applied to dividends, which matters slightly more for VOOV given its higher yield. Whether you hold the fund in a taxable or tax-advantaged account changes how dividends and gains are treated. Rules differ by country, so check your local guidance or speak to a tax professional.

Can I hold both VOO and VOOV?

Yes. Because VOOV's stocks are a subset of VOO's, holding both simply overweights the value half of the S&P 500 relative to the market. Some investors do this deliberately to add a value tilt without abandoning a broad core. Be aware that the combined position is still entirely US large-cap stocks.

How concentrated is each fund?

VOO's top three holdings, NVIDIA, Apple and Microsoft, total about 20.8% of the fund, with heavy weight in technology. VOOV's top three, Apple, Amazon and ExxonMobil, total about 13.9%, and its top ten spans consumer, energy, financial and healthcare names. So VOOV is less concentrated at the top and less dependent on a single sector.

Is VOOV just VOO with fewer stocks?

Not quite. VOOV holds 450 of the S&P 500's stocks, but it selects them on value characteristics and weights them accordingly, so the sector mix and top holdings are quite different from VOO. The two funds can behave differently over multi-year periods depending on whether growth or value stocks are in favor.

VOO vs VOOV

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

VOO holds all 516 stocks in the S&P 500 for a 0.03% expense ratio, while VOOV holds the 450 stocks in the S&P 500 Value index for 0.07%. VOO is about $1.08 trillion in net assets against $6.69 billion for VOOV, and VOOV yields 1.65% versus VOO's 1.04%. VOO suits core broad-market investors; VOOV suits those who want a value tilt. Educational content, not financial advice.

VOO holds all 516 stocks in the S&P 500 for a 0.03% expense ratio, while VOOV holds the 450 stocks in the S&P 500 Value index for 0.07%. VOO is about $1.08 trillion in net assets against $6.69 billion...

Fund Snapshot

Key Fund Metrics

VOO

Metric

VOOV

0.03%

Expense Ratio

0.07%

1.04%

Dividend Yield

1.65%

$1.08T

Net Assets

$6.69B

516

Holdings

450

Sep 7, 2010

Inception Date

Sep 7, 2010

S&P 500

Index Tracked

S&P 500 Value

Large Blend

Fund Category

Large Value

VOO costs about $4.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	VOO	VOOV
AAPLApple Inc.	7.03%	7.72%
AMZNAmazon.com, Inc.	3.84%	3.96%
TSLATesla, Inc.	1.57%	1.31%

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Investment Analysis

VOO

Pros

Expense ratio of 0.03%, about $3 a year per $10,000 invested
Roughly $1.08 trillion in net assets, one of the largest ETFs anywhere
Covers growth and value in one fund, so no need to time style cycles

Considerations

Top 10 holdings are dominated by technology names such as NVIDIA at 8.08%
Dividend yield of 1.04% is lower than VOOV's 1.65%
No tilt toward cheaper stocks if you believe value is underpriced

VOOV

Pros

Higher dividend yield at 1.65% from a portfolio of lower-valuation stocks
Same S&P 500 universe as VOO, filtered to the value half of each sector
Much lower weight in mega-cap tech, with ExxonMobil and Walmart in the top ten

Considerations

Expense ratio of 0.07% is more than double VOO's 0.03%
Small fund at about $6.69 billion in net assets compared with VOO's size
Style indexes can lag for long stretches when growth stocks lead the market

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About VOO and VOOV

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.

VOOV (VOOV)

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