7 Best S&P 500 ETFs in 2026: VOO, SPY, IVV & More Compared
Compare the best ETFs that track the S&P 500 in 2026 — VOO, SPY, IVV, SPLG ranked by expense ratio, AUM, and performance. Find the best S&P index ETF for you.
The 7 Best S&P 500 ETFs, Ranked
All S&P 500 ETFs track the same 500 companies. The differences are in fees, liquidity, share price, and structure. Here's the definitive 2026 ranking:
| Rank | ETF | Expense Ratio | AUM | Share Price | Our Take |
|---|---|---|---|---|---|
| 1 | SPLG | 0.02% | $35B | ~$60 | Cheapest, accessible |
| 2 | VOO | 0.03% | $400B | ~$540 | Best overall, Vanguard tax edge |
| 3 | IVV | 0.03% | $500B | ~$580 | Largest, excellent liquidity |
| 4 | BKLC | 0.00% | $3B | ~$45 | Zero-fee, newer |
| 5 | FNILX | 0.00% | $10B | ~$22 | Zero-fee, Fidelity only |
| 6 | SPY | 0.09% | $550B | ~$590 | Best for options/trading |
| 7 | SWPPX | 0.02% | $90B | ~$85 | Mutual fund (not ETF) |
Let's break down each one.
#1: SPLG — SPDR Portfolio S&P 500 ETF
Best for: Cost-conscious investors and small accounts
| Feature | Detail |
|---|---|
| Expense Ratio | 0.02% |
| AUM | $35B |
| Share Price | ~$60 |
| Issuer | State Street (SPDR) |
| Launched | 2005 |
Why #1: SPLG charges the lowest expense ratio among standard S&P 500 ETFs (0.02%) and has the lowest share price (~$60), making it the most accessible for investors doing dollar-cost averaging.
The catch: Smaller AUM ($35B vs $400B+ for VOO), meaning slightly lower daily volume. For 99.9% of investors, this doesn't matter.
Compare: VOO vs SPLG | SPLG vs IVV
#2: VOO — Vanguard S&P 500 ETF
Best for: Long-term buy-and-hold investors
| Feature | Detail |
|---|---|
| Expense Ratio | 0.03% |
| AUM | $400B+ |
| Share Price | ~$540 |
| Issuer | Vanguard |
| Launched | 2010 |
Why #2: VOO benefits from Vanguard's unique dual-class ETF/mutual fund structure, which provides a theoretical tax efficiency edge. At 0.03%, it's only 0.01% more expensive than SPLG — that's $10/year on $100K.
The catch: High share price (~$540) means you need fractional shares for smooth DCA.
Compare: SPY vs VOO | VOO vs IVV | VTI vs VOO
Read more: SPY vs VOO: Complete Guide
#3: IVV — iShares Core S&P 500 ETF
Best for: iShares/BlackRock platform users
| Feature | Detail |
|---|---|
| Expense Ratio | 0.03% |
| AUM | $500B+ |
| Share Price | ~$580 |
| Issuer | iShares (BlackRock) |
| Launched | 2000 |
Why #3: IVV is the largest S&P 500 ETF by AUM (excluding SPY's trading-driven volume) and has excellent institutional liquidity. Same 0.03% as VOO.
The catch: No structural advantage over VOO, and higher share price than SPLG.
Compare: IVV vs VOO | IVV vs SPY
#4: BKLC — BNY Mellon US Large Cap Core Equity ETF
Best for: Fee minimizers (literally $0 in fees)
| Feature | Detail |
|---|---|
| Expense Ratio | 0.00% |
| AUM | $3B |
| Share Price | ~$45 |
| Issuer | BNY Mellon |
| Launched | 2020 |
Why #4: BKLC charges absolutely nothing — 0.00% expense ratio. Zero. It tracks the Morningstar US Large Cap Index (very similar to S&P 500).
The catch: Tracks a different index (not exactly S&P 500), smaller AUM ($3B), less liquidity, and BNY Mellon generates revenue through securities lending. Newer fund with shorter track record.
#5: FNILX — Fidelity ZERO Large Cap Index Fund
Best for: Fidelity account holders who want zero fees
| Feature | Detail |
|---|---|
| Expense Ratio | 0.00% |
| AUM | $10B |
| Share Price | ~$22 |
| Issuer | Fidelity |
| Launched | 2018 |
Why #5: Zero fees and very low share price ($22). Part of Fidelity's ZERO lineup.
The catch: This is a mutual fund, not an ETF — only available through Fidelity. Tracks the Fidelity U.S. Large Cap Index, not the S&P 500 directly. Can't be held at other brokers.
#6: SPY — SPDR S&P 500 ETF Trust
Best for: Options traders and active traders
| Feature | Detail |
|---|---|
| Expense Ratio | 0.09% |
| AUM | $550B+ |
| Share Price | ~$590 |
| Issuer | State Street (SPDR) |
| Launched | 1993 |
Why #6: SPY is the original S&P 500 ETF and the most heavily traded security in the world. It has the tightest bid-ask spreads and deepest options market.
The catch: At 0.09%, SPY costs 3-4x more than VOO/IVV/SPLG. For buy-and-hold investors, there's no reason to pay the premium. SPY is optimized for traders, not investors.
Cost difference on $100K over 30 years:
- SPY (0.09%): $2,700
- VOO (0.03%): $900
- SPLG (0.02%): $600
Use our expense calculator to model your scenario.
Read more: SPY vs VOO: Which is Better?
#7: SWPPX — Schwab S&P 500 Index Fund
Best for: Schwab account holders who prefer mutual funds
| Feature | Detail |
|---|---|
| Expense Ratio | 0.02% |
| AUM | $90B |
| Share Price | ~$85 |
| Issuer | Charles Schwab |
| Launched | 1997 |
Why #7: Tied with SPLG for lowest fee (0.02%) among funds tracking the actual S&P 500. Massive $90B in assets.
The catch: It's a mutual fund, not an ETF. Trades once daily at NAV, can't be held at other brokers. Only ranked lower because this list focuses on ETFs.
Head-to-Head Performance
All S&P 500 ETFs deliver nearly identical returns because they hold the same stocks:
| Period | VOO | IVV | SPLG | SPY |
|---|---|---|---|---|
| 1 Year | 28.4% | 28.4% | 28.4% | 28.3% |
| 3 Year | 12.7% | 12.7% | 12.7% | 12.6% |
| 5 Year | 15.2% | 15.2% | 15.2% | 15.1% |
| 10 Year | 13.0% | 13.0% | 13.0% | 12.9% |
The 0.1% difference in SPY's 10-year return? That's the higher expense ratio (0.09% vs 0.03%) compounding over time.
How to Choose: Decision Matrix
| Your Situation | Best Choice | Why |
|---|---|---|
| Buy and hold, any broker | SPLG | Cheapest (0.02%), low share price |
| Vanguard account | VOO | Native fund, dual-class tax edge |
| Fidelity account | FNILX or SPLG | Zero fee or 0.02% |
| Schwab account | SWPPX or SPLG | 0.02% either way |
| Options trading | SPY | Deepest options market |
| Small weekly investments | SPLG | $60 share price |
| Already own one | Keep it | Don't switch for 0.01% |
S&P 500 ETF vs Total Market ETF
A common question: should you buy VOO (S&P 500) or VTI (Total Stock Market)?
| Feature | S&P 500 (VOO) | Total Market (VTI) |
|---|---|---|
| Holdings | 503 stocks | 3,800+ stocks |
| Coverage | Large cap only | Large + mid + small |
| Overlap | — | 85% with VOO |
| Returns (5yr) | 15.2% | 14.9% |
VTI includes everything in VOO plus ~3,300 small and mid-cap stocks. The additional stocks only represent ~15% of VTI's value, so returns are very similar.
Our take: Both are great. VTI gives slightly more diversification. VOO is slightly simpler. Compare VTI vs VOO →
Common Questions
Which S&P 500 ETF has the lowest fee? SPLG at 0.02%. BKLC and FNILX charge 0.00% but track slightly different indexes.
Is SPY the best S&P 500 ETF? For trading and options, yes. For investing, no — VOO, IVV, or SPLG are all better due to lower fees.
Should I switch from SPY to VOO? In an IRA, yes — the switch saves 0.06%/year with no tax impact. In a taxable account, calculate if capital gains tax exceeds the fee savings over your holding period.
Are S&P 500 ETFs safe? They hold 500 of America's largest companies. They can drop 30-50% in a crash, but they've always recovered historically. "Safe" depends on your time horizon.
How much should I put in an S&P 500 ETF? A common allocation is 60-80% of your stock portfolio. Add international stocks (VXUS) and bonds (BND) for full diversification.
Check the overlap: VOO vs VXUS | VOO vs BND
Conclusion
SPLG is the best S&P 500 ETF for most investors in 2026 — lowest expense ratio (0.02%), lowest share price ($60), and identical performance. VOO and IVV are equally excellent at 0.03%.
The most important decision isn't which S&P 500 ETF you buy — it's that you invest consistently and hold for the long term.
Compare any of these ETFs with live data on EigenDex →
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