VTI vs VOO: Expense Ratio, Overlap and the One Real Difference
Quick answer
VTI and VOO both charge a 0.03% expense ratio, and roughly 85% of VTI is the same stocks as VOO. The only real difference is coverage: VOO holds the roughly 500 large companies in the S&P 500, while VTI holds the whole US market, about 3,500 stocks including small and mid-caps. Either is a sound long-term core holding.
VTI vs VOO at a glance (figures verified July 2026)
| Fact | VTI | VOO |
|---|---|---|
| Full name | Vanguard Total Stock Market ETF | Vanguard S&P 500 ETF |
| Index tracked | CRSP US Total Market Index | S&P 500 |
| Expense ratio | 0.03% | 0.03% |
| Annual fund cost per $10,000 invested | $3 | $3 |
| Number of holdings | About 3,500 US stocks (July 2026) | About 500 large US stocks |
| Small and mid-cap exposure | Yes, roughly 15% of the fund by weight | None |
| Portfolio overlap | About 85% of VTI by weight is the same stocks as VOO | Every VOO holding is also inside VTI |
| Dividend yield (trailing 12 months, July 2026) | About 1.1% | About 1.1% |
| 10-year annualized return (to 30 June 2026, Vanguard data) | About 15.0% a year. Past performance does not guarantee future results | About 15.5% a year. Past performance does not guarantee future results |
| Fund size (July 2026) | About $650 billion | About $1.0 trillion, the largest ETF in the world |
| Inception | May 2001 | September 2010 |
| Share price (early July 2026) | About $369 | About $685 |
VTI vs VOO is one of the most-searched fund matchups in US investing, and the table above shows why the debate runs hotter than the facts justify. Both are Vanguard index ETFs. Both charge 0.03% a year, which is $3 annually on a $10,000 holding. And roughly 85% of VTI, by weight, is the same stocks as VOO. Every figure here was verified against Vanguard's published fund data in July 2026; the ones that move daily (yield, assets, share price) are date-stamped snapshots, not permanent numbers.
The one real difference is breadth. VOO tracks the S&P 500, roughly 500 large US companies covering somewhere around 85% of the US market's total value. VTI tracks the CRSP US Total Market Index: essentially every investable US stock, about 3,500 companies as of mid-2026, which means everything in VOO plus a roughly 15% tail of small and mid-caps. Because both funds weight holdings by company size, the same mega-cap names dominate the top of each in near-identical proportions.
That overlap shows up in the returns. Over the ten years to 30 June 2026, Vanguard's data puts VOO at about 15.5% annualized and VTI at about 15.0%. The half-point gap reflects a decade in which the largest companies led the market; in periods when smaller companies lead, the result flips. Past performance does not guarantee future results, and a 15% decade is historically exceptional rather than normal. To see what different growth assumptions do to a long-term plan, run the numbers through our compound interest calculator, which displays in dollars for US visitors.
Whichever fund you pick, remember what neither gives you: both are 100% United States, with no international stocks or bonds. If you have settled on the S&P 500 specifically, the next question is usually which S&P 500 fund, covered in VOO vs SPY. For where the fund sits, our guide to Roth IRA vs 401(k) covers the account side, our dividend investing explainer covers how those quarterly distributions compound, and the rest of our US-friendly calculators live at the US tools hub. This page is general information, not personal investment advice: the value of either fund can fall as well as rise.
Frequently asked questions
Is VTI better than VOO?
Neither fund is better on cost: both charge 0.03% a year. The difference is coverage. VTI holds the entire US stock market, about 3,500 companies, while VOO holds only the roughly 500 large companies in the S&P 500. VTI gives you the extra small and mid-cap slice for the same fee; VOO gives you large caps only. Both are widely used long-term core holdings, and the practical difference between them has historically been small.
Do VTI and VOO overlap?
Massively. Every stock in VOO is also held by VTI, and because both funds weight companies by market value, roughly 85% of VTI by weight is the same S&P 500 stocks that make up VOO. The overlap is why their long-term returns land so close together: about 15.0% a year for VTI versus 15.5% for VOO annualized over the ten years to 30 June 2026, per Vanguard data. Past performance does not guarantee future results.
Should I own both VTI and VOO?
There is no diversification benefit in holding both. VTI already contains every VOO holding in almost identical proportions, so the pair behaves like one fund with two line items. Investors normally pick one as their US stock core. Diversification beyond either fund comes from other asset classes, such as international stocks or bonds, not from a second fund tracking mostly the same companies.
Which pays a higher dividend, VTI or VOO?
Neither, meaningfully. As of early July 2026 both funds yielded around 1.1% on a trailing twelve-month basis, within a few hundredths of a percentage point of each other. Both distribute dividends quarterly, and most US brokerages can reinvest them automatically. Yields move with the market, so any quoted figure is a snapshot, not a fixed rate.
Why is the VTI share price so much lower than the VOO share price?
The share price is arbitrary and says nothing about value. In early July 2026 VTI traded around $369 and VOO around $685, but that only reflects how each fund was sliced into shares at launch. A $1,000 investment buys the same market exposure either way, and fractional shares at most US brokerages mean the sticker price barely matters at all.
Is VTI or VOO better for a Roth IRA or 401(k)?
The account type does not change the comparison; the same facts apply inside a Roth IRA, traditional IRA or 401(k) as in a taxable account. Many 401(k) menus do not offer ETFs but include a total stock market index fund (the VTI equivalent) or an S&P 500 index fund (the VOO equivalent). One practical point: switching between near-identical funds inside a tax-advantaged account has no capital gains consequences, while doing so in a taxable account can trigger tax. This is general information, not personal advice.
Has VOO outperformed VTI?
Slightly, over the past decade: about 15.5% annualized for VOO versus roughly 15.0% for VTI in the ten years to 30 June 2026, per Vanguard data. The gap exists because mega-cap stocks, which dominate the S&P 500, led the market over that period. In periods when smaller companies lead, the relationship reverses. Past performance does not guarantee future results.
Sources
General information, not financial advice. Tax rules and figures can change; check the current position on irs.gov or ssa.gov before acting.