VOO tracks the S&P 500. VTI tracks the entire U.S. stock market. Both are from Vanguard, both cost 0.03%, and their returns are nearly identical. Here's how to decide which one belongs in your portfolio.
VOO and VTI are two of the most popular index ETFs in the world. Both are exchange-traded funds from Vanguard, both carry near-zero expense ratios, and both have delivered strong long-term returns.
The core difference: VOO tracks the S&P 500 (the 500 largest U.S. companies). VTI tracks the entire U.S. stock market — roughly 3,600 stocks, including mid- and small-caps.
| VOO | VTI | |
|---|---|---|
| Full name | Vanguard S&P 500 ETF | Vanguard Total Stock Market ETF |
| Index tracked | S&P 500 | CRSP US Total Market Index |
| Holdings | ~504 | ~3,600+ |
| Expense ratio | 0.03% | 0.03% |
| Mutual fund equivalent | VFIAX | VTSAX |
If you prefer a mutual fund, VFIAX is the mutual fund version of VOO and VTSAX is the mutual fund version of VTI.
VOO is the Vanguard S&P 500 ETF. It tracks the S&P 500 — a market-cap-weighted index of 500 large U.S. companies including Apple, Microsoft, NVIDIA, and Amazon.
VTI is the Vanguard Total Stock Market ETF. It tracks the CRSP US Total Market Index — essentially every publicly traded U.S. stock: large, mid, small, and micro-cap.
Very similar. The S&P 500 makes up roughly 82–85% of VTI by market cap, so top holdings are nearly identical in both. Their historical correlation is 0.99+.
| Period | VOO | VTI |
|---|---|---|
| 1-year return (approx.) | ~18% | ~17–18% |
| 5-year annualized | ~14–15% | ~14–15% |
| 10-year annualized | ~13% | ~12.5–13% |
Past performance does not guarantee future results.
Diversification: VOO holds 504 large-cap stocks. VTI holds 3,600+ across all market caps.
Small- and mid-cap exposure: VTI holds ~15–18% mid- and small-cap. VOO has none. During small-cap bull markets, VTI has an edge. During large-cap-led markets (like the 2010s), VOO edges ahead.
Index construction: The S&P 500 requires profitability for inclusion — a quality filter VTI does not apply.
Expense ratio: Identical at 0.03%. Not a differentiating factor.
Choose VOO if: You want pure large-cap exposure or already have separate small/mid-cap coverage.
Choose VTI if: You want one fund covering the entire U.S. market.
Honest answer for most investors: It doesn't matter much. Both are excellent. Pick one, stick with it, automate contributions.
Is VOO or VTI better long-term? Both are excellent. Historical performance difference over 10+ years has been less than 0.5% annualized.
Does VTI include small-cap? Yes — large, mid, small, and micro-cap. About 15–18% by weight is mid- and small-cap.
Can I hold both? You can, but VOO's holdings are a subset of VTI's — no meaningful diversification benefit.
Both are exceptional low-cost ETFs. If you want total U.S. market coverage in one fund, VTI. If you want pure large-cap simplicity, VOO. Your savings rate and consistency matter far more than this choice.
See also: VTSAX · VFIAX · Compare VFIAX vs VTSAX
Fund performance pages are full of numbers — but most of them don't matter. Here's exactly which metrics to look at, what they mean, and the traps that trip up new investors.
Dan Mahler holds an MBA and a Master of Science in Management and Leadership from Western Governors University and has been investing for over 10 years. He built CompareMutualFunds.com to give everyday investors a clear, jargon-free resource for comparing mutual funds. All content is reviewed for accuracy before publication; fund data is sourced from public financial filings and updated regularly.
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