Compare/Updated Oct 26, 2026, refreshed every trading day
VOO vs SPY
Vanguard S&P 500 ETF against State Street SPDR S&P 500 ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
QQQ did best over the period: $1,000 invested on Oct 28, 2022 grew to $2,565, versus $2,065 for VOO and $2,052 for SPY. Its 156.5% total return and 97.2% three-year return substantially exceeded the S&P 500 ETFs, but came with higher risk: 20.0% 12-month volatility and a -22.8% worst drawdown, compared with 12.7% volatility and drawdowns of -18.7% for VOO and -18.8% for SPY. VOO narrowly outperformed SPY, with a 106.5% versus 105.2% total return, while offering the lower expense ratio of 0.03% versus 0.09%. Their 0.998 daily correlation and typical 0.02-point monthly gap show they are nearly interchangeable exposures. QQQ provided stronger growth but greater volatility, drawdown risk, and a higher 0.20% expense ratio.
- Price is above its 200-day average ($665); 50-day at $705.
- RSI 42, neutral. Supertrend says sell. ADX 14, so the trend is weak.
- Price is above its 200-day average ($725); 50-day at $767.
- RSI 42, neutral. Supertrend says sell. ADX 14, so the trend is weak.
Head to head
Which has returned more, VOO or SPY?
VOO beat SPY in 32 of the last 48 months; SPY won the other 16. The typical monthly gap was 0.02 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.998
- correlation of daily moves, 4 years
- 0.98
- VOO move per 1% in SPY
- 0.999
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.02 points.
When did they diverge?
| Month | VOO | SPY | Gap |
|---|---|---|---|
| August 2026 | +2.7% | +2.4% | +0.23 pts |
| September 2024 | +2.2% | +2.1% | +0.07 pts |
| November 2024 | +5.9% | +6.0% | -0.07 pts |
| December 2024 | -2.3% | -2.4% | +0.07 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with VOO and SPY?
Go deeper
Ask InvestGPT which one fits your portfolio.
Eight research agents read your holdings, the overlap and the tax side, then answer in plain words. Free accounts get one report a month.
More comparisons
Find another comparison.
Track both, get told when something changes.
Add VOO and SPY to a watchlist and Kavout emails you when a signal flips or a price target is hit.
Free account, no card