DV
Dividend Vision

ETF Comparison

VOO vs IVV vs SPYM vs SPY: Which S&P 500 Fund Is Cheapest?

A side-by-side comparison of the four largest S&P 500 index funds — including SPYM, formerly SPLG — covering expense ratio, yield, assets, and fund structure.

Data updated August 7, 2026

Best for

  • IVVInvestors who want simple, diversified core exposure in one low-cost fund.
  • SPYInvestors who want simple, diversified core exposure in one low-cost fund.
  • SPYMInvestors who want simple, diversified core exposure in one low-cost fund.
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

Jump to the side-by-side numbers

iShares
ETFs469
Total AUM$4642B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on IVV.

See all iShares ETFs
State Street
ETFs180
Total AUM$2080B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPY and SPYM.

See all State Street ETFs
Vanguard
ETFs116
Total AUM$4656B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

Side-by-side snapshot

IVVSPYSPYMVOO
Full nameiShares Core S&P 500 ETFSPDR S&P 500 ETF TrustSPDR Portfolio S&P 500 ETFVanguard S&P 500 ETF
IssueriSharesState StreetState StreetVanguard
Last Close$772.13 as of August 7, 2026$768.56 as of August 7, 2026$90.47 as of August 7, 2026$706.40 as of August 7, 2026
Distribution yield1.03%0.99%1.06%1.11%
Distribution Safety Score™ 100100100100
Expense ratio0.03%0.10%0.02%0.03%
AUM$901B$812B$157B$1032B
Distribution frequencyQuarterlyQuarterlyQuarterlyQuarterly
Underlying indexS&P 500 IndexS&P 500 IndexS&P 500 IndexS&P 500 Index
ObjectiveSeeks to track the investment results of an index composed of large-capitalization U.S. equities, measuring the performance of the large-cap sector of the U.S. equity market as determined by S&P Dow Jones Indices.Track the S&P 500 Index before expenses.Tracks the S&P 500 Index, providing broad U.S. large-cap equity exposure at a low cost.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquityEquityEquity
Inception date05/15/200001/22/199311/08/200509/07/2010
Beta1.01.01.01.0
Last dividend$1.9956$1.9035$0.2390$1.9622
Ex-dividend date06/15/202606/18/202606/12/202606/26/2026

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — no signup required.

Build a sample portfolio Forecast income

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

SPYM tops the group over the trailing twelve months with a 23.82% total return, against IVV at 23.81%, SPY at 23.74% and VOO at 23.80%. Across the 10-year window, SPYM has the strongest compounding at 15.37% a year. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Sep 2010Volatility Sharpe Sortino Max drawdown
IVV13.13%23.81%21.08%13.30%15.32%15.04%15.0%0.981.41-18.8%
SPY13.10%23.74%20.98%13.23%15.25%14.97%15.3%0.961.38-18.8%
SPYM13.13%23.82%21.07%13.31%15.37%15.00%15.0%0.981.41-18.7%
VOO13.11%23.80%21.08%13.29%15.33%15.06%14.9%0.981.42-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 6, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

IVV (iShares Core S&P 500 ETF), SPY (SPDR S&P 500 ETF Trust), SPYM (SPDR Portfolio S&P 500 ETF), VOO (Vanguard S&P 500 ETF) are dividend ETFs that take different approaches.

VOO offers the highest reported yield at 1.11%, followed by SPYM at 1.06%, IVV at 1.03%, SPY at 0.99%.

SPYM is the cheapest with an expense ratio of 0.02%, compared to 0.03% for IVV and 0.03% for VOO and 0.10% for SPY.

VOO is the largest fund by assets ($1032B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment: IVV generates ~$8.58/month, SPY generates ~$8.25/month, SPYM generates ~$8.83/month, VOO generates ~$9.25/month at current distribution rates.

IVV yield1.03%
SPY yield0.99%
SPYM yield1.06%
VOO yield1.11%

Cost & efficiency

Over 10 years on $10,000: IVV costs ~$30, SPY costs ~$100, SPYM costs ~$20, VOO costs ~$30 in fees (simplified, not compounded).

IVV ER0.03%
SPY ER0.10%
SPYM ER0.02%
VOO ER0.03%

Strategy & risk

IVV tracks S&P 500 Index; SPY tracks S&P 500 Index with a large cap approach; SPYM tracks S&P 500 Index with a large cap approach; VOO tracks S&P 500 Index with a large cap approach.

IVV beta1.0
SPY beta1.0
SPYM beta1.0
VOO beta1.0

Fund details

IVV is managed by iShares (launched 05/15/2000) with $901B in assets. SPY is managed by State Street (launched 01/22/1993) with $812B in assets. SPYM is managed by State Street (launched 11/08/2005) with $157B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1032B in assets.

IVV AUM$901B
SPY AUM$812B
SPYM AUM$157B
VOO AUM$1032B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

Is SPLG the same as SPYM?

Yes — same fund, new ticker. State Street renamed the SPDR Portfolio S&P 500 ETF from SPLG to SPYM; the index, holdings, and expense ratio carried over unchanged, and existing shareholders kept their position under the new symbol. So results for "SPLG" are answered by SPYM's numbers: 1.06% distribution yield at a 0.02% expense ratio, with $157B in assets as of August 2026.

Do VOO, IVV, SPYM, and SPY hold the same stocks?

Effectively yes. All four track the S&P 500, so their holdings and weights line up almost exactly and their returns differ mainly by cost and structure. SPY is the oldest and is organised as a unit investment trust, which means it cannot reinvest dividends internally between payment dates and cannot lend out securities; VOO, IVV, and SPYM are open-end funds without those constraints. In practice that shows up as a few basis points a year on top of the fee gap (VOO 0.03%, IVV 0.03%, SPYM 0.02%, SPY 0.10% as of August 2026). Share price differs far more — $768.56 for SPY against $90.47 for SPYM — which only matters if you are investing small amounts without fractional shares.

Which of IVV, SPY, SPYM, and VOO is best for dividend income?

It depends on your goals. VOO currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.

What is the difference between IVV, SPY, SPYM, and VOO?

IVV (iShares Core S&P 500 ETF) tracks S&P 500 Index, issued by iShares. SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach, issued by State Street. SPYM (SPDR Portfolio S&P 500 ETF) tracks S&P 500 Index with a large cap approach, issued by State Street. VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach, issued by Vanguard.

Can I hold IVV, SPY, SPYM, and VOO together?

Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Which has the lowest fees among IVV, SPY, SPYM, and VOO?

IVV has an expense ratio of 0.03%, SPY has an expense ratio of 0.10%, SPYM has an expense ratio of 0.02%, VOO has an expense ratio of 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 generate in each?

$10,000 in IVV yields ~$8.58/month ($103.00/year). $10,000 in SPY yields ~$8.25/month ($99.00/year). $10,000 in SPYM yields ~$8.83/month ($106.00/year). $10,000 in VOO yields ~$9.25/month ($111.00/year).

More comparisons to explore

Learn the method

The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener