The S&P 500 ETF You Know Charges 0.0945%. These 2 Charge 0.03%
The S&P 500 ETFs SPY, VOO, and IVV track the same index but have different fees. SPY charges 0.0945%, while VOO and IVV charge 0.03%. SPY has the largest assets under management and the tightest bid-ask spreads, making it popular for trading and hedging. VOO and IVV are better for long-term investors due to lower fees. NVIDIA and Apple are the largest holdings in these funds, according to their respective fact sheets and prospectuses.
How this was made

The 30-second read
Why it matters
Fee differentials are modest; liquidity and options market depth remain the primary decision factors for traders.
Market read
Provides a concise fee comparison for investors but offers little actionable insight for short‑term trading.
What to watch
Tax efficiency and dividend reinvestment differences could influence choice beyond expense ratios.
Background
The article compares expense ratios of the three most popular S&P 500 ETFs, citing recent fact sheets and prospectus filings.
Ticker impact
SPY expense ratio disclosed as 0.0945% per March 2026 fact sheet, higher than peers.
limited pressure on SPY as fee difference is modest and offset by superior liquidity.
Fee gap is small; traders value SPY's tight spreads and options market more than the expense ratio.
VOO expense ratio disclosed as 0.03% per March 2026 fact sheet, lower than SPY.
minimal upside pressure as cost advantage is incremental.
Fee advantage is modest and already priced; no catalyst for sharp movement.
IVV expense ratio disclosed as 0.03% per July 2026 prospectus, matching VOO.
little impact; market already reflects fee structure.
Investors focused on liquidity; IVV's fee is not a primary driver of price.
Market effects
Highlights fee competition among large‑cap S&P 500 ETFs, but no sector shift.
U.S. ETF market only; no regional effect.
Limited to investors comparing U.S. index fund costs.
Counterpoint
Long‑term investors may still prefer SPY for its superior liquidity despite higher fee.
Key entities
- IssuerState Street
Issuer of SPY ETF.
- IssuerVanguard
Issuer of VOO ETF.
- IssuerBlackRock
Issuer of IVV ETF.

