Both track the S&P 500, so performance is nearly identical — the real battle is fees and fine print. VOO wins on cost; SPY wins on liquidity. Most long-term investors should just pick VOO and forget it.
SPY's ticker was almost 'SP500' — but someone realized traders needed something they could shout across a pit without pulling a muscle.
You are a buy-and-hold long-term investor
VOO's lower fees compound silently in your favor for decades — same exposure, more money at retirement.
→ Pick VOO ETFYou trade options or need to hedge large positions
SPY has the deepest, most liquid options market on Earth — tighter spreads and strikes for every occasion.
→ Pick SPY ETFYou want maximum intraday trading flexibility
SPY's massive daily volume means you can enter and exit massive positions without moving the market.
→ Pick SPY ETFYou care about dividend efficiency
VOO can reinvest dividends immediately; SPY's UIT structure parks that cash idle until quarter-end.
→ Pick VOO ETF