VOO vs VTI: Which Vanguard ETF Should You Choose?
Same fee, same philosophy — but they own different slices of the market. Here is what actually differs.
VOO tracks the S&P 500, while VTI tracks the CRSP US Total Market Index and includes large-, mid- and small-cap U.S. stocks. Vanguard currently lists a 0.03% expense ratio for VTI, and fund characteristics such as holdings counts and yields change over time. Compare current fund pages before investing; the durable difference is market coverage, not a fixed holdings count.
At a glance
| VOO | VTI | |
|---|---|---|
| Fund name | Vanguard S&P 500 ETF | Vanguard Total Stock Market ETF |
| Index tracked | S&P 500 | CRSP US Total Market |
| Expense ratio | 0.03% | 0.03% |
| Inception | Sep 2010 | May 2001 |
| Holdings | About 500 large-cap U.S. companies; count changes with the index | Thousands of U.S. stocks across large, mid and small caps; count changes over time |
| Dividends | Quarterly | Quarterly |
| Coverage | Large-cap U.S. | Nearly the entire U.S. market |
Both are low-cost index ETFs. A small stated expense-ratio difference would matter much less here than the difference in index coverage, but fees are never literally a “non-issue” and can change. Check each fund’s current prospectus or Vanguard profile before making a decision. The projection below uses equal 0.03% fees only as an illustrative snapshot.
The fee math: nearly identical
With identical expense ratios, the fee gap over 20 years is effectively zero. Run your own numbers with the ETF Fee Impact Calculator, pre-filled with these two funds:
Open the fee calculator with VOO vs VTI →
| Year | Contributions | Estimated Growth | Total Value |
|---|---|---|---|
| 5 | $40,000 | $9,973 | $49,973 |
| 10 | $70,000 | $36,639 | $106,639 |
| 20 | $130,000 | $170,851 | $300,851 |
This example assumes a 7% hypothetical annual return with monthly compounding, $10,000 to start and $500/month, no taxes or trading costs. The 20-year figure matches the default output of the Compound Interest Calculator. Because both funds have identical fees, this table illustrates compounding for either fund — the practical difference comes from what they own, not these numbers.
The real difference: market coverage
VOO holds the roughly 520 largest U.S. companies. VTI holds more than 3,500 companies across the whole market, adding mid- and small-cap exposure that VOO never touches. Because large caps dominate the U.S. market's value, the two funds are highly correlated — but they are not identical investments.
In periods when large-cap tech leads, VOO can look better. In periods when smaller companies catch up, VTI can look better. Over a 20–30 year horizon, consistently holding either is far more important than switching between them — how you buy matters too.
Which should you choose?
- Choose VOO if you want simple, concentrated exposure to the largest U.S. companies and are comfortable with a large-cap tilt.
- Choose VTI if you want nearly the entire U.S. market in one fund, including thousands of smaller companies.
- Owning both is usually unnecessary — VOO's holdings are almost entirely inside VTI, so the two overlap more than they diversify.
Risk & limitations
- Past performance does not guarantee future results; 7% is a hypothetical assumption, not a forecast.
- The two funds are highly correlated because large caps dominate the U.S. market — diversification differences are real but modest day to day.
- Taxes (capital gains, qualified dividends) can affect after-tax results and are excluded here.
- This is educational information, not personalized investment advice. An appropriate allocation depends on your time horizon, risk tolerance and goals.
Sources: Fund data (holdings, fees, returns) is from the funds' issuers (Vanguard) as published; verify current figures with the issuer. Educational content only.
Frequently asked questions
What's the difference between VOO and VTI?
Is VOO or VTI better for long-term investing?
Should I own both VOO and VTI?
Do VOO and VTI pay dividends?
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ETF Fee Impact Calculator
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Last updated: September 2026.
Sources & freshness
- Fund facts can change. Vanguard currently lists VTI as tracking the CRSP US Total Market Index and a 0.03% expense ratio; verify both fund profiles and prospectuses before relying on fees, holdings or yields.
- The 7% projection on this page is a model input, not either fund’s expected return. Investor.gov treats the interest rate in its compound calculator as an estimated input and supports testing a variance range.
- Past index or fund performance does not guarantee future results.
Primary sources: Vanguard VTI · Vanguard VOO · Investor.gov compound interest calculator.