Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
SPY vs VOE: how they differ
SPY and VOE hold 9% of their weight in the same names, and VOE returned more over the year.
SPDR S&P 500 ETF Trust and Vanguard Mid-Cap Value Index Fund.
What they hold in common
By the books each fund has filed, SPY and VOE hold 9% of their money in the same securities at the same weight.
| Holding | SPY | VOE |
|---|---|---|
| Newmont Corp. | 0.15% | 0.86% |
| Cummins, Inc. | 0.15% | 1.71% |
| Williams Cos., Inc. (The) | 0.14% | 0.79% |
| Valero Energy Corp. | 0.12% | 1.34% |
| Marathon Petroleum Corp. | 0.12% | 1.29% |
| American Electric Power Co., Inc. | 0.12% | 0.65% |
| Simon Property Group, Inc. | 0.11% | 1.20% |
| Norfolk Southern Corp. | 0.11% | 0.61% |
| United Rentals, Inc. | 0.11% | 1.23% |
| Travelers Cos., Inc. (The) | 0.11% | 0.61% |
| General Motors Co. | 0.11% | 1.21% |
| SLB Ltd. | 0.11% | 1.21% |
| Only in SPY | Only in VOE |
|---|---|
| NVIDIA Corp. 7.52% | CRH PLC 1.24% |
| Apple, Inc. 6.59% | TE Connectivity PLC 1.02% |
| Microsoft Corp. 4.30% | Cheniere Energy Inc 0.87% |
| Amazon.com, Inc. 3.62% | Ferguson Enterprises Inc 0.80% |
| Alphabet, Inc. 3.25% | Johnson Controls International plc 0.77% |
| Broadcom, Inc. 2.77% | Aon PLC 0.58% |
| Alphabet, Inc. 2.59% | Arch Capital Group Ltd 0.56% |
| Micron Technology, Inc. 2.02% | Strategy Inc 0.50% |
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 | VOE Vanguard Mid-Cap Value Index Fund | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | State Street | Vanguard |
| What it is | S&P 500, book from IVV | Mid-Cap Value |
| Total return, 1 year | +17.5% | +20.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | 0.0 pts | +2.7 pts |
| Expense ratio | 0.09% | 0.05% |
| Already in the S&P 500 | 100.0% | 96.6% |
| Holdings | 504 | 170 |
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%.
VOE in plain words
VOE is an index equity fund tracking the Mid-Cap Value. Over the year to Sep 11, 2026 it returned +20.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.05% a year. By its holdings filed for Jun 30, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 12.7%.
Questions people ask
- Which returned more over the last year, SPY or VOE?
- In the year to Sep 12, 2026, with distributions reinvested, SPY returned +17.5% and VOE returned +20.2%, so VOE returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, SPY or VOE?
- SPY charges 0.09% a year and VOE charges 0.05%, so VOE is cheaper. Fees come from each fund's prospectus.
- How much do SPY and VOE overlap with the S&P 500?
- By their latest filed holdings, 100% of SPY and 97% of VOE by weight is stocks the S&P 500 already holds. Between the two funds, 9% of their books are the same securities at the same weight.
Other comparisons
Where to next
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 VOE, data as of Sep 12, 2026. https://etfiq.com/compare/any/SPY-VOE Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources