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VOO vs IVV: Which S&P 500 ETF Wins in 2026?
Bottom line
Same index, same 0.03% fee, same structure. Pick whichever your broker trades commission-free.
The 10 universal facts
VOO Vanguard S&P 500 ETF
vs
IVV iShares Core S&P 500 ETF
0.03%
Expense ratio
0.03%
$3
Annual cost / $10k
$3
$1.51T
AUM
$582B
Sep 7, 2010
Inception
May 15, 2000
518
Holdings
~500
~13.1%
10y CAGR (total return)
~13.0%
~1.2%
Dividend yield
~1.2%
Quarterly
Dividend frequency
Quarterly
Open-end ETF
Structure
Open-end ETF
Vanguard
Issuer
BlackRock iShares
Performance & backtest
Investing $10,000 from Sep 2010 How this is calculated Dividends reinvested every month. Monthly adjusted-close prices from Yahoo Finance. Past performance doesn't predict future returns.
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Final portfolio value
- Invested
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- Growth
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- Total return
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- Per year
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What's specific to VOO vs IVV
Fee + structure
A true tie at 0.03%
Same expense ratio, same open-end ETF structure, same tax mechanics. Lifetime fee drag on $100k over 30 years at 8%: about $2,200 for either fund. The fee question is settled.
Scale & track record
VOO is bigger, IVV is older
VOO is the largest ETF in the world; IVV has the longer history (May 2000 vs Sep 2010). Both are permanent fixtures of the index-fund landscape.
Trading volume
IVV slightly deeper on options
IVV trades ~6.8M shares/day vs VOO's ~6.1M, and IVV has marginally better options liquidity. For covered-call strategies, SPY still dominates both; for buy-and-hold investors the gap is invisible.
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Frequently asked questions
Is VOO or IVV better for long-term investing?
They are functionally interchangeable. Both track the S&P 500, both charge 0.03%, both are open-end ETFs with identical tax treatment, and both have delivered virtually identical total returns since VOO launched in 2010. The decision comes down to issuer preference and whether your broker trades one commission-free.
What is the difference between VOO and IVV?
Issuer (Vanguard vs BlackRock iShares), AUM (VOO ~$1.51T, IVV ~$582B), and launch date (IVV is a decade older). Index tracked, expense ratio, and ETF structure are identical. Trading costs, holdings, and tax outcomes are essentially the same.
Can I hold both VOO and IVV?
You can, but there's no diversification benefit. They hold the same roughly 500 stocks in the same weights. Holding both is effectively holding one position in two accounts. Most investors pick one based on issuer or broker, not own both.
Does IVV or VOO have better tax efficiency?
Both are exceptional. Both use the ETF creation-redemption mechanism to flush appreciated positions without triggering shareholder capital gains. Neither has made a meaningful cap-gains distribution in over two decades. For taxable accounts, either is as tax-efficient as index funds get.
Which has better options liquidity, VOO or IVV?
IVV is slightly deeper than VOO, but both trail SPY by a wide margin. If you actively trade options or sell covered calls, SPY is still the standard. For buy-and-hold investors the gap is irrelevant.