What is the best ETF to hold long term between SPY and VOO? Over the long term VOO slightly outperforms SPY by an average of 0.01% a year based on management expenses, yield, and likely the timing of how they track the underlying S&P 500 index when it changes holdings. VOO would be the best choice for buy and hold investors. 

SPY vs VOO Expense Ratio

SPY ETF expense ratio is 0.09% and VOO has a 0.04% expense ratio as VOO charges less for management fees.

SPY vs VOO Dividend

SPY yields 1.30%, while VOO yields 1.34%, this slight yield variance is due mostly to the different expense ratios.

SPY vs VOO Liquidity

SPY trades an average of 108 million shares a day and VOO trades an average of 7.1 million, so SPY is a clear choice for traders for liquidity.

SPY is also the right choice for options traders as the SPY option chain has much tighter bid/ask spreads due to liquidity and higher open interest.[1][2]


In this return data portfolio is SPY versus VOO.


SPY vs VOO Performance


SPY historical returns

VOO has outperformed SPY by +3.6% in total returns since VOO’s inception date on 09-07-2010.

Performance data courtesy of ETFreplay.com.

By Steve Burns

After a lifelong fascination with financial markets, Steve began investing in 1993 and trading his accounts in 1995. It was love at first trade. After more than 30 successful years in the markets, Steve now dedicates his time to helping traders improve their psychology and profitability. New Trader U offers an extensive blog resource with more than 4,000 original articles, online courses, and best-selling books covering various topics.