Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
SPY vs VB: how they differ
SPY and VB hold 3% of their weight in the same names, and SPY returned more over the year.
SPDR S&P 500 ETF Trust and Vanguard Small-Cap Index Fund.
What they hold in common
By the books each fund has filed, SPY and VB hold 3% of their money in the same securities at the same weight.
| Holding | SPY | VB |
|---|---|---|
| Jabil, Inc. | 0.06% | 0.49% |
| EMCOR Group, Inc. | 0.06% | 0.45% |
| Qnity Electronics, Inc. | 0.05% | 0.21% |
| EQT Corp. | 0.05% | 0.20% |
| NRG Energy, Inc. | 0.05% | 0.38% |
| Steel Dynamics, Inc. | 0.05% | 0.19% |
| Centene Corp. | 0.05% | 0.19% |
| Casey's General Stores, Inc. | 0.05% | 0.36% |
| Tapestry, Inc. | 0.05% | 0.36% |
| Atmos Energy Corp. | 0.04% | 0.35% |
| Hubbell, Inc. | 0.04% | 0.17% |
| Williams-Sonoma, Inc. | 0.04% | 0.33% |
| Only in SPY | Only in VB |
|---|---|
| NVIDIA Corp. 7.52% | Credo Technology Group Holding Ltd 0.55% |
| Apple, Inc. 6.59% | REVOLUTION Medicines Inc 0.46% |
| Microsoft Corp. 4.30% | Astera Labs Inc 0.45% |
| Amazon.com, Inc. 3.62% | Natera Inc 0.45% |
| Alphabet, Inc. 3.25% | Twilio Inc 0.38% |
| Broadcom, Inc. 2.77% | MKS Instruments Inc 0.37% |
| Alphabet, Inc. 2.59% | Flex Ltd 0.36% |
| Micron Technology, Inc. 2.02% | Carpenter Technology Corp 0.35% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
| SPY SPDR S&P 500 ETF Trust | VB Vanguard Small-Cap Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | State Street | Vanguard |
| What it is | S&P 500, book from IVV | Small-Cap |
| Total return, 1 year | +17.5% | +15.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | 0.0 pts | −2.3 pts |
| Expense ratio | 0.09% | 0.03% |
| Already in the S&P 500 | 100.0% | 21.7% |
| Holdings | 504 | 1311 |
SPY in plain words
SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.
VB in plain words
VB is an index equity fund tracking the Small-Cap. Over the year to Sep 11, 2026 it returned +15.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 22% of the fund by weight is stocks the S&P 500 also holds, across 1311 positions, with the top ten at 4.3%. It sat 5.1% below its high of Aug 14, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, SPY or VB?
- In the year to Sep 12, 2026, with distributions reinvested, SPY returned +17.5% and VB returned +15.2%, so SPY returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, SPY or VB?
- SPY charges 0.09% a year and VB charges 0.03%, so VB is cheaper. Fees come from each fund's prospectus.
- How much do SPY and VB overlap with the S&P 500?
- By their latest filed holdings, 100% of SPY and 22% of VB by weight is stocks the S&P 500 already holds. Between the two funds, 3% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, SPY against VB, data as of Sep 12, 2026. https://etfiq.com/compare/any/SPY-VB Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources