SPY vs VTIAX
State Street SPDR S&P 500 ETF Trust vs Vanguard Total International Stock Index Fund Admiral
Which is better, SPY or VTIAX?
SPY has been ahead.
SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | VTIAX |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $823.2B | $104.7B |
| Dividend Yield | 0.99% | 2.30% |
| Holdings | 1,515 | 8,762 |
| YTD Price Return | +12.65%Best | +10.40% |
| 1Y Price Return | +16.21%Best | +15.17% |
| 3Y Price Return (annualized) | +20.89%Best | +16.54% |
| 5Y Price Return (annualized) | +11.71%Best | +5.33% |
| Volatility (annualized) | 15.6%Best | 15.7% |
| Max Drawdown | -25.4%Best | -31.4% |
| $10,000 over 5 years | $17,396Best | $12,965 |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Nov 29, 2010 |
Not shown on this pair: Top 10 Weight.
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for VTIAX. Both funds are measured the same way, so the comparison holds. SPY yields 0.99% and VTIAX 2.30% on top.
Volatility and max drawdown are measured over the window both funds cover: Oct 15, 2021 to Oct 13, 2026 (5 years).
SPY vs VTIAX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
SPY vs VTIAX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard Total International Stock Index Fund Admiral (VTIAX) is a mutual fund from Vanguard (US). Over the past year SPY returned +16.21% while VTIAX returned +15.17%. Year to date, SPY is up 12.65% versus a gain of 10.40% for VTIAX.
Over three years, SPY compounded at +20.89% per year against +16.54% for VTIAX; over five years the annualized figures are +11.71% and +5.33% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTIAX has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.6% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.4% for SPY and -31.4% for VTIAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while VTIAX charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, SPY currently yields 0.99% against 2.30% for VTIAX.
Structure and taxes
VTIAX is a mutual fund and SPY is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
At least 0.6% of SPY's money is in holdings VTIAX also owns.
Stated as a floor: for VTIAX, our book for it covers 90.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 226 days apart, SPY as of Sep 14, 2026 and VTIAX as of Jan 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
5 positions in common, counted across the 504 positions we hold weights for in SPY and 8,517 in VTIAX, against full books of 1,515 and 8,762.
You are not choosing between two funds in isolation.
Whichever of SPY and VTIAX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or VTIAX?
SPY has an expense ratio of 0.09% while VTIAX charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, SPY or VTIAX?
Over the past year SPY returned +16.21% vs +15.17% for VTIAX, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VTIAX?
VTIAX has been the more volatile fund at 15.7% annualized versus 15.6% for SPY. Worst drawdown: SPY -25.4% vs VTIAX -31.4%.
Should I hold both SPY and VTIAX?
SPY and VTIAX have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or VTIAX?
SPY yields 0.99% while VTIAX yields 2.30%, so VTIAX currently pays the higher dividend yield.
Is it better to hold VTIAX or SPY in a taxable account?
SPY is an ETF and VTIAX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VTIAX better than SPY?
SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.