Vanguard S&P 500 ETF

Vanguard S&P 500 ETF (VOO) tracks the S&P 500 Index of large U.S. companies and is the exchange-traded share class of Vanguard 500 Index Fund. Its annual fee (expense ratio) of 0.03%, per the April 28, 2026 prospectus, ties iShares Core S&P 500 ETF and undercuts SPDR S&P 500 ETF Trust's 0.0945%. The trade-off is concentration: its 10 largest holdings, led by NVIDIA and Apple, were 36.4% of assets as of June 30, 2026.

• Over the year to Oct 30, 2026, VOO returned +12.4%, 5th of 9 among similar funds.
• Its 5-year annualized return was +12.0%.
• Its worst full calendar year was 2022 (-18.2%); its best was 2021 (+28.8%).
• The deepest fall in its price history was 24.5% (Jan 3, 2022 to Oct 12, 2022), recovered by Dec 13, 2023.

Living on VOO: its income record, cuts, and how much a $1,000 monthly income takes →

As of Jun 30, 2026, the fund held 506 securities; the ten largest made up 36.4% of assets.

By sector

• Over the three months to Jun 30, 2026, investors added a net $35.80B (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +10.49%, +5.26%, -0.95%.

VOO is an index fund. Instead of a manager picking stocks, it aims to match the S&P 500 Index, a widely followed benchmark dominated by large U.S. companies. It tries to copy the index exactly, owning all or nearly all of its stocks in roughly the index's proportions. As of June 30, 2026, that meant 506 holdings, led by NVIDIA (7.5%), Apple (6.6%) and Microsoft (4.3%).

Because the fund copies the index's weights, a few giants can dominate. The prospectus warns the fund could become “nondiversified” (holding more in a few companies than a diversified fund may) or concentrated in one industry if the index shifts that way. Technology made up 35.2% of sector-classified holdings as of June 30, 2026. The fund follows index changes, yet portfolio turnover, the share of holdings replaced over a year, was 2%, according to the prospectus.

VOO is one share class of Vanguard 500 Index Fund, so it shares one portfolio with the fund's other classes. Its shares trade on NYSE Arca at market prices, which can differ from the value of the stocks inside. Only a limited number of financial firms, called authorized participants, can create or redeem shares directly with the fund. Tiny derivative positions, including S&P 500 futures, rounded to 0% of assets as of June 30, 2026.

• VOO charges 0.03% a year, versus an average of 0.13% for the similar funds below (2nd of 9, cheapest first).
• Of that, 0.02% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).

It gives low-cost exposure to the large US companies in the S&P 500, the kind of broad stock fund a long-term portfolio is often built around.

VOO tracks the S&P 500, about 500 large US companies, for 0.03% a year in fees, versus a 0.13% average for similar funds. Its dividend yield was 1.05% as of October 27, 2026, paid quarterly, so it serves growth more than income. As of June 30, 2026, technology made up 35.2% of the fund, leaving it exposed to a tech slump.

VOO launched in September 2010, after the 2008 crisis. In the 2020 COVID crash it lost 19.63% in the first quarter. Its worst calendar year was 2022, down 18.15%; from January to October that year it fell 24.5%, then took about 14 months to regain its peak, in December 2023. Selling shares near that low would have locked in losses, so some retirees keep cash or bonds for spending. Past results don't predict the future; a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.

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