Dividend comparison
VT vs SPY: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Total World Stock ETF and State Street SPDR S&P 500 ETF, side by side. Updated October 21, 2026.
- Fees. VT is cheaper at 0.06% a year versus 0.09% for SPY. On $10,000 that is $3 a year less in fees.
- Income. VT pays more income, yielding 1.53% over the last twelve months versus 0.98% for SPY. That is about $55 more a year on $10,000. VT pays annual, SPY pays quarterly.
- Performance. Over the last 5 years, SPY returned 81.3% versus 60.7% for VT, with dividends reinvested. $10,000 would have grown to $18,129 in SPY and $16,069 in VT.
- Risk. Their worst declines over the last 5 years were similar: -26.4% for VT and -24.5% for SPY from peak to trough.
- Diversification. VT holds 9,773 positions and SPY holds 504. The ten largest positions make up 22.3% of VT and 38.7% of SPY.
- Overlap. At least 39% of the two portfolios overlap by weight, across 71 shared holdings.
- Dividend growth. VT grew its yearly payout 7.1% a year over the last 4 years, versus 6.4% for SPY.
- Size. SPY is the larger fund with $816.6 billion in assets, against $101.2 billion for VT.
Bottom line: VT fits better if you care most about lower fees, more income today and broader diversification. SPY fits better if you care most about stronger 5-year returns.
| Metric | VT Vanguard Total World Stock ETF | SPY State Street SPDR S&P 500 ETF |
|---|---|---|
| Dividend yield (TTM) | 1.53% | 0.98% |
| Dividend / share (TTM) | $2.41 | $7.53 |
| Payout frequency | Annual | Quarterly |
| Last dividend | $0.4084 on Sep 22, 2026 | $1.9035 on Jul 31, 2026 |
| Ex-dividend date | Sep 18, 2026 | Sep 18, 2026 |
| Next payment | — | $1.8888 on Oct 30, 2026 |
| Dividend growth (CAGR) | 7.1% over 4 yrs | 6.4% over 4 yrs |
| Price | $157.80 | $769.05 |
| Dividend growth streak | — | 16 years |
| Beta | 0.93 | 1.01 |
| Max drawdown (5Y) | -26.4% | -24.5% |
| Market cap | $101.30B | $813.99B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.06% | 0.09% |
| Assets under management | $101.20B | $816.57B |
| Number of holdings | 9773 | 504 |
| Top 10 concentration | 22.3% | 38.7% |
VT
$12.75/mo
$153 /yr at 1.53% yield
SPY
$8.15/mo
$98 /yr at 0.98% yield
| Year | VT | SPY |
|---|---|---|
| 2025 | $2.5732 | $7.2533 |
| 2024 | $2.2939 | $7.0056 |
| 2023 | $2.1419 | $6.5091 |
| 2022 | $1.8957 | $6.1723 |
| 2021 | $1.9550 | $5.6618 |
Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.
What VT vs SPY actually do
It tracks the FTSE Global All Cap Index at market-cap weights, so US companies make up the majority of the fund simply because they are the majority of world market value, with the remainder spread across developed international and emerging markets. Weights shift as those markets grow or shrink relative to each other, so the allocation decision is made by the market rather than by you. Holding non-US companies brings currency exposure and foreign withholding tax, and the headline yield is usually a little higher than a US-only fund because many international companies pay out more of their earnings.
Suits an investor who wants a single, permanently self-rebalancing global equity holding and no home-country judgment call. Not for someone who wants to control their US weighting deliberately, and not an income fund.
Core holding, global
It holds the same 500 companies as its rivals, but it is structured as a unit investment trust rather than an open-end fund, an older wrapper that must hold every constituent and cannot put dividends back to work inside the fund before the quarterly payment date. That leaves a small cash drag and it carries a higher expense ratio than the newer S&P 500 trackers, around three times VOO's. What it buys instead is unmatched liquidity and by far the deepest options market of any S&P 500 fund.
Suits traders, options sellers and anyone who needs to move size with tight spreads. For a long-term buy-and-hold position the structural drag and higher fee work against it compared with the newer alternatives.
Core holding, trading vehicle
| Period | VT | SPY |
|---|---|---|
| 1 month | -0.47% | 0.97% |
| 3 months | 1.95% | 3.63% |
| Year to date | 11.87% | 13.37% |
| 1 year | 13.16% | 15.51% |
| 3 years | 80.78% | 88.86% |
| 5 years | 60.69% | 81.29% |
- VT
- SPY
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- VT
- SPY
| Largest shared holdings | VT weight | SPY weight |
|---|---|---|
| NVDANVIDIA Corp | 4.52% | 7.93% |
| AAPLApple Inc | 4.08% | 7.55% |
| MSFTMicrosoft Corp | 3.23% | 5.98% |
| AMZNAmazon.com Inc | 2.05% | 3.89% |
| GOOGLAlphabet Inc | 1.72% | 3.05% |
| AVGOBroadcom Inc | 1.39% | 2.40% |
| METAMeta Platforms Inc | 1.35% | 2.35% |
| GOOGAlphabet Inc | 1.35% | 2.44% |
| MUMicron Technology Inc | 1.02% | 1.54% |
| TSLATesla Inc | 0.88% | 1.57% |
VT9773 holdings total
Quick verdict
VT fits better if you care most about lower fees, more income today and broader diversification. SPY fits better if you care most about stronger 5-year returns. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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How much do VT and SPY overlap?
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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.