Dividend comparison

VOO vs SPLG: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard S&P 500 ETF and State Street SPDR Portfolio S&P 500 ETF, side by side. Updated October 24, 2026.

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VOO vs SPLG: key differences
The short answer, from the latest data on this page.
  • Fees. SPLG is cheaper at 0.02% a year versus 0.03% for VOO. On $10,000 that is $1 a year less in fees.
  • Income. VOO pays more income, yielding 1.06% over the last twelve months versus 0.76% for SPLG. That is about $30 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, SPLG returned 92.6% versus 79.4% for VOO, with dividends reinvested. $10,000 would have grown to $19,261 in SPLG and $17,941 in VOO.
  • Risk. Their worst declines over the last 5 years were similar: -24.5% for VOO and -24.5% for SPLG from peak to trough.
  • Diversification. VOO holds 505 positions and SPLG holds 504. The ten largest positions make up 39.1% of VOO and 40.0% of SPLG.
  • Overlap. At least 66% of the two portfolios overlap by weight, across 87 shared holdings.
  • Dividend growth. SPLG grew its yearly payout 6.8% a year over the last 4 years, versus 6.8% for VOO.
  • Size. VOO is the larger fund with $1.7 trillion in assets, against $95.7 billion for SPLG.

Bottom line: VOO fits better if you care most about more income today. SPLG fits better if you care most about stronger 5-year returns.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricVOO
Vanguard S&P 500 ETF
SPLG
State Street SPDR Portfolio S&P 500 ETF
Dividend yield (TTM)1.06%0.76%
Dividend / share (TTM)$7.43$0.67
Payout frequencyQuarterlyQuarterly
Last dividend$1.8226 on Sep 30, 2026$0.2392 on Jun 16, 2026
Ex-dividend dateSep 28, 2026Jun 12, 2026
Dividend growth (CAGR)6.8% over 4 yrs6.8% over 4 yrs
Price$698.58$87.89
Dividend growth streak5 years5 years
Beta1.011.00
Max drawdown (5Y)-24.5%-24.5%
Market cap$1.70T$106.73B
ExchangeAMEXAMEX
Expense ratio0.03%0.02%
Assets under management$1.70T$95.72B
Number of holdings505504
Top 10 concentration39.1%40.0%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

VOO

$8.86/mo

$106 /yr at 1.06% yield

SPLG

$6.37/mo

$76 /yr at 0.76% yield

Dividend history
Total dividends paid per share in each calendar year. VOO pays quarterly; SPLG pays quarterly.
YearVOOSPLG
2025$7.0678$0.9074
2024$6.7035$0.8796
2023$6.3572$0.8046
2022$5.9467$0.7610
2021$5.4367$0.6970
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What VOO vs SPLG actually do

VOO
Vanguard's S&P 500 tracker, holding the 500 large-cap US companies in the index at their market-cap weights.

It replicates the index in full and makes no attempt to pick winners, so its return is the index return less a very small fee. As an open-end fund it can lend securities and put incoming dividends back to work inside the portfolio between the quarterly payment dates. Dividends are whatever the underlying companies happen to pay, which means yield is an output of the strategy and never a target of it.

Suits almost any long-horizon US equity allocation, including as the growth engine sitting behind higher-yielding income positions. Not a fit for someone whose portfolio needs to produce meaningful current cash flow.

Core holding

SPLG
State Street's low-cost S&P 500 fund, holding the identical index to SPY at a fraction of the fee.

It is an open-end fund tracking the S&P 500, so unlike its older sibling it can reinvest income internally and lend securities. Its headline expense ratio is the lowest among the large S&P 500 trackers, and its lower share price makes it easier to fill an odd-lot allocation precisely. The trade-off is a smaller options market and slightly wider spreads than SPY, which only matters if you trade actively.

Suits a buy-and-hold investor who wants S&P 500 exposure at the smallest possible fee, and small accounts where a lower share price reduces leftover cash. Not the right tool for anyone running options strategies against the position.

Core holding

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jun 18, 2021 would now be worth $19,254 in VOO and $19,261 in SPLG.
PeriodVOOSPLG
1 month-1.02%1.37%
3 months3.21%13.17%
Year to date12.36%9.82%
1 year14.44%26.50%
3 years87.36%76.27%
5 years79.41%92.61%
  • VOO
  • SPLG
83143204202120222023202420252026193193

Both series indexed to 100 on 2021-06-18 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • VOO
  • SPLG
0%10%20%30%40%Technology40.5%35.3%Financial Services11.1%12.8%Communication Services9.9%11.0%Consumer Cyclical8.8%10.4%Healthcare9.3%9.8%Industrials7.5%7.3%Consumer Defensive4.3%4.8%Energy3.4%2.8%Utilities1.9%2.4%Real Estate1.7%1.9%Other1.6%1.5%
VOO vs SPLG holdings overlap
At least 66% overlap by weight, with 87 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsVOO weightSPLG weight
NVDANVIDIA Corp8.39%8.33%
AAPLApple Inc7.38%6.78%
MSFTMicrosoft Corp5.78%6.85%
AMZNAmazon.com Inc3.71%3.78%
GOOGLAlphabet Inc3.07%2.64%
AVGOBroadcom Inc2.54%2.98%
METAMeta Platforms Inc2.43%2.77%
GOOGAlphabet Inc2.45%2.13%
TSLATesla Inc1.52%2.20%
BRK-BBerkshire Hathaway Inc1.41%1.50%
Top 10 holdings
Largest positions by portfolio weight.

VOO505 holdings total

NameWeight
NVDANVIDIA Corp8.39%
AAPLApple Inc7.38%
MSFTMicrosoft Corp5.78%
AMZNAmazon.com Inc3.71%
GOOGLAlphabet Inc3.07%
AVGOBroadcom Inc2.54%
GOOGAlphabet Inc2.45%
METAMeta Platforms Inc2.43%
MUMicron Technology Inc1.83%
TSLATesla Inc1.52%

SPLG504 holdings total

NameWeight
NVDANVIDIA CORP8.33%
MSFTMICROSOFT CORP6.85%
AAPLAPPLE INC6.78%
AMZNAMAZON.COM INC3.78%
AVGOBROADCOM INC2.98%
METAMETA PLATFORMS INC CLASS A2.77%
GOOGLALPHABET INC CL A2.64%
TSLATESLA INC2.20%
GOOGALPHABET INC CL C2.13%
BRK-BBERKSHIRE HATHAWAY INC CL B1.50%

Quick verdict

VOO fits better if you care most about more income today. SPLG fits better if you care most about stronger 5-year returns. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is VOO or SPLG better for dividend income?
It depends on your goals. VOO currently yields 1.06% Trailing Twelve Months (TTM) while SPLG yields 0.76%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between VOO and SPLG?
Vanguard S&P 500 ETF (VOO) is an ETF listed on AMEX. State Street SPDR Portfolio S&P 500 ETF (SPLG) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, VOO or SPLG?
SPLG has the lower expense ratio. VOO charges 0.03% a year and SPLG charges 0.02%, a difference of $1 a year on a $10,000 investment.
Which has performed better, VOO or SPLG?
Over the last 5 years, SPLG has the higher total return with dividends reinvested: VOO returned 79.4% and SPLG returned 92.6%. Past performance does not predict future returns.
Which is riskier, VOO or SPLG?
Measured by the worst peak-to-trough decline over the last five years, VOO has been riskier: VOO fell as much as 24.5% and SPLG as much as 24.5%. Their betas are 1.01 and 1.00.
How much do VOO and SPLG overlap?
At least 66% of the two portfolios overlap by weight, across 87 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do VOO and SPLG pay dividends?
Both pay quarterly. The most recent payments were $1.8226 for VOO and $0.2392 for SPLG.
How much income does $10,000 in VOO vs SPLG generate?
At current TTM yields, $10,000 in VOO would generate roughly $8.86 per month ($106 annually). The same amount in SPLG would produce about $6.37 per month ($76 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VOO and SPLG?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare VOO vs SPLG with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VOO and SPLG fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.