VTI vs VOO: Total Stock Market vs S&P 500 - Complete Comparison

Quick Summary

VTI and VOO are both Vanguard index ETFs with ultra-low 0.03% expense ratios. VTI tracks the total US stock market (3,500+ stocks) while VOO tracks just the S&P 500 (500 large-caps). They have 82% overlap with nearly identical performance.

Key differences: VTI includes small and mid-cap stocks (18% of portfolio) offering slightly more diversification. VOO is pure large-cap exposure. Historical returns are within 0.1% annually. Most Bogleheads prefer VTI for complete market coverage.

Compare live at /vti-vs-voo

What Are VTI and VOO?

VTI - Vanguard Total Stock Market ETF

Tracks: CRSP US Total Market Index (3,500+ stocks)
Launched: May 2001
Assets: Over $400 billion
Expense Ratio: 0.03%
Approach: Own the entire US stock market

VOO - Vanguard S&P 500 ETF

Tracks: S&P 500 Index (500 largest US companies)
Launched: September 2010
Assets: Over $400 billion
Expense Ratio: 0.03%
Approach: Large-cap focus

Holdings Overlap

VTI and VOO have approximately 82% overlap - VOO's 500 large-caps make up 82% of VTI's total value.

Top 10 Holdings (Both ETFs):

Company	Ticker	VTI Weight	VOO Weight
Apple	AAPL	6%	7%
Microsoft	MSFT	6%	7%
Amazon	AMZN	3%	4%
NVIDIA	NVDA	3%	3%
Alphabet A	GOOGL	2%	2%
Meta	META	2%	2%
Alphabet C	GOOG	1%	2%
Berkshire	BRK.B	1%	2%
Tesla	TSLA	1%	2%
Eli Lilly	LLY	1%	1%

The difference: VTI's additional 3,000 small and mid-cap stocks make up 18% of its portfolio but have minimal impact on overall returns due to their smaller market capitalizations.

See live overlap at /vti-vs-voo

Market Cap Coverage

VOO market cap distribution:

Large-cap: 100%
Mid-cap: 0%
Small-cap: 0%

VTI market cap distribution:

Large-cap: 82%
Mid-cap: 14%
Small-cap: 4%

VTI provides exposure to the entire market capitalization spectrum. VOO focuses exclusively on large-caps.

Performance Comparison

Historical returns (December 2025):

Period	VTI	VOO	Difference
YTD	+28.5%	+28.4%	+0.1% VTI
One Year	+29.3%	+29.2%	+0.1% VTI
Three Years	+12.8%	+12.7%	+0.1% VTI
Five Years	+15.2%	+15.2%	0.0%
Ten Years	+13.9%	+13.8%	+0.1% VTI

Performance is nearly identical. VTI sometimes outperforms by 0.1% when small-caps do well. VOO sometimes leads when large-caps dominate.

Why so similar? Large-cap stocks (VOO's entire portfolio) make up 82% of VTI's value. The remaining 18% (mid and small-caps) have minimal impact on overall returns.

Expense Ratios

Both VTI and VOO charge 0.03% - among the lowest expense ratios available.

On $100,000 invested:

Annual cost: $30
Over 30 years: $900

No difference in fees. Both are extremely cheap.

Diversification

Number of holdings:

VTI: 3,500+ stocks
VOO: 500 stocks

VTI holds 7x more companies, but does it matter?

Market cap concentration: Large-caps dominate both. VTI's extra 3,000 stocks represent only 18% of portfolio value.

Sector allocation: Nearly identical because both are market-cap weighted.

Practical diversification benefit: Minimal. Large-caps drive returns in both ETFs.

Which Should You Choose?

Choose VTI if:

You want complete market coverage
You follow Bogleheads philosophy
You want small-cap exposure
You prefer "set and forget" simplicity
You want maximum diversification

Best for: Purist indexers, Bogleheads followers, complete market exposure

Choose VOO if:

You want pure large-cap exposure
You're comfortable excluding small-caps
You prefer S&P 500 simplicity
You want the most recognized index

Best for: Large-cap focused investors, S&P 500 fans

The Truth

For most investors, the difference is negligible. Both are excellent choices.

Bogleheads generally prefer VTI for its complete market coverage, following the philosophy that you should own the entire market, not just large-caps.

Practical advice: Pick one based on philosophy, not performance - they're essentially identical.

Common Questions

Should I hold both VTI and VOO?
No. With 82% overlap, you gain almost zero additional diversification. Pick one.

Does VTI's small-cap exposure matter?
Slightly. Small-caps are 4% of VTI. In periods when small-caps outperform, VTI gains 0.1-0.3% extra. But large-caps dominate both ETFs.

Which is more volatile?
Nearly identical. VTI is marginally more volatile (0.5% higher standard deviation) due to small-caps, but the difference is barely noticeable.

Which for retirement accounts?
Either works perfectly. Bogleheads slightly prefer VTI for complete market coverage.

Which for taxable accounts?
Both are equally tax-efficient. Vanguard's ETF structure minimizes capital gains distributions in both.

I'm 25, which should I buy?
VTI. If you're going to hold for 40 years, might as well own the complete market. The extra diversification costs nothing (same 0.03% fee).

I'm 60, which should I buy?
Either. The difference is negligible at any age. VOO if you prefer S&P 500 simplicity, VTI if you want complete market coverage.

Can I switch between them?
In IRAs/401ks, yes, tax-free. In taxable accounts, switching triggers capital gains tax. Not worth it given their similarity.

Which would Jack Bogle choose?
Bogle preferred total market funds (VTI approach) because they own "everything" without active selection.

The Bogleheads Perspective

The Bogleheads forum (followers of John Bogle's investment philosophy) generally favors VTI:

Why VTI:

Owns the entire market (no active decision to exclude small-caps)
Truly passive (no committee selects the 500 stocks)
Complete market coverage
Same cost as VOO (0.03%)

Why some choose VOO:

S&P 500 is the most recognized benchmark
Slightly simpler (500 vs 3,500 stocks)
Large-caps drive most returns anyway

Consensus: Both are excellent. The difference is philosophical, not performance-based.

Conclusion

VTI and VOO are both exceptional index funds with identical 0.03% fees and nearly identical performance.

Choose VTI for complete US market coverage including small and mid-caps. This follows the purist indexing philosophy of owning everything.

Choose VOO for pure large-cap S&P 500 exposure. This is simpler and focuses on the largest companies.

The truth: The difference is negligible. Large-caps drive returns in both. Pick based on philosophy, not expected performance.

Most important: Choose one and stick with it for decades. Don't overthink it. Both will serve you well.