ETFs That Track the S&P 500 in 2026

The S&P 500 ETF category shown here consists of four funds that all track the same benchmark index but differ meaningfully in structure and cost. Vanguard, iShares, and State Street each field at least one product, with State Street notably represented twice through the legacy SPY and the newer, lower-cost SPYM. This dual listing reflects a broader industry trend of issuers launching cheaper "clone" versions of flagship funds to compete on expense ratio while the original, more established fund retains liquidity advantages and options-market depth. All four funds distribute income quarterly, and AUM is heavily concentrated in the two largest vehicles, VOO and IVV.

• VOO carries the largest AUM in the top 4 shown at $1037.9B, followed closely by IVV at $894.0B.
• SPYM has the lowest expense ratio among the funds shown at 0.02%, narrowly undercutting VOO and IVV, which tie at 0.03%.
• SPY, despite being the priciest fund shown at 0.09% expense ratio, still holds $820.2B in AUM, suggesting cost is not the only driver of investor allocation.
• VOO shows the highest yield among the funds shown at 1.12%, while SPY shows the lowest at 0.99%.
• The category average yield of 1.05% and average expense ratio of 0.04% are both closely clustered, reflecting the near-identical underlying exposure across all four funds.

Because these funds track the same index, differences in realized yield often stem from timing of dividend collection, sampling methodology, and fee drag rather than fundamental portfolio differences. Investors comparing these products might consider that expense ratio differences, while small in percentage terms, compound over long holding periods, and that liquidity, tax treatment (ETF share class structure), and options availability can matter as much as headline cost. AUM concentration in VOO and IVV may also reflect broader adoption trends worth noting alongside the raw yield and fee figures.

• Single-index dependence: most funds here are built on the same S&P 500 exposure, so they rise and fall together and share that index's concentration in its largest constituents — holding several of them does not diversify the underlying index risk.
• Distributions are not contractual: each payout is declared period by period, so the yields on this page can fall without notice when portfolio income, option premium, or fund policy changes.
• Methodology divergence: every fund here follows its own index rules or mandate, so two funds with similar headline yields can hold very different portfolios and diverge sharply in a drawdown — category membership is not interchangeability.
• Screens react after the fact: a fund's place in this list is re-rated only once a dividend cut, strategy change, or asset decline has already shown up in the reported data.

"Best" here means the selection rule below, applied to our own data — not an opinion poll and not a prediction:

• Universe: every security in our database matching this category — 4 qualified as of August 2026.
• Exclusions: liquidated, delisted and renamed funds drop out automatically; a renamed fund's successor appears in its place.
• Ordering: assets under management, largest first.
• Cap: none — all 4 matching funds are listed.
• Independence: no placement on this page is paid, sponsored, or influenced by a fund issuer.