IVV vs VOO: Which ETF Is Better in 2026?
Short answer
IVV (iShares Core S&P 500 ETF) tracks S&P 500 at 0.03%; VOO (Vanguard S&P 500 ETF) tracks S&P 500 at 0.03%. They track the same index, so the real questions are cost, issuer, and structure. Neither is universally better.
IVV vs VOO at a glance
| IVV | VOO | |
|---|---|---|
| Fund | iShares Core S&P 500 ETF | Vanguard S&P 500 ETF |
| Tracks | S&P 500 | S&P 500 |
| Expense ratio | 0.03% | 0.03% |
| Dividend yield | ~1.3% | ~1.3% |
| AUM | ~$600 billion | ~$1.2 trillion |
| Top holding | MSFT | MSFT |
| Issuer | iShares (BlackRock) | Vanguard |
Approximate as of early 2026; verify with each issuer.
What is IVV?
Tracks the S&P 500 Index, the standard measure of US large-cap equity. Effectively identical exposure to VOO and SPY at a 0.03% expense ratio, which matches VOO and undercuts SPY. Used as a core building block in most diversified portfolios. Verify current figures on the issuer's site.
What is VOO?
Tracks the S&P 500 Index, the standard measure of US large-cap equity. Effectively identical exposure to SPY and IVV at a 0.03% expense ratio. Used as a core building block in most diversified portfolios.
IVV or VOO: which should you pick?
- Pick IVV if you want S&P 500 exposure at 0.03%.
- Pick VOO if you want S&P 500 exposure at 0.03%.
- Overlap: they share top holdings (MSFT, AAPL, NVDA, AMZN, META), so owning both adds less diversification than it appears.
- Cost: 0.03% vs 0.03%, a small but compounding difference.
The bottom line: IVV vs VOO
IVV and VOO track the same index (S&P 500), so this comes down to cost (0.03% vs 0.03%), issuer, and structure rather than what you own. They overlap heavily, so owning both mostly doubles a fee. Walnut can show the overlap against your real portfolio before you decide.
Build a portfolio around IVV with Walnut
Walnut connects your real brokerage so you can see how IVV and VOO overlap with what you already own, analyze either by chatting through Claude or ChatGPT, and place any trade yourself.
FAQ
What is the difference between IVV and VOO?
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IVV tracks S&P 500 (0.03% expense ratio); VOO tracks S&P 500 (0.03%). They track the same index, so the differences are cost, structure, and issuer.
Is IVV or VOO cheaper?
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IVV charges 0.03% and VOO charges 0.03% as of early 2026. Over decades the cheaper fund keeps more of your return, but verify current figures with each issuer.
Do IVV and VOO hold the same stocks?
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They overlap meaningfully: shared top holdings include MSFT, AAPL, NVDA, AMZN, META, GOOGL. Owning both can mean less diversification than it looks.
Which has a higher dividend yield, IVV or VOO?
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IVV yields about ~1.3% and VOO about ~1.3% (early 2026, approximate). If income matters, that gap is one input, but total return and cost matter more for most long-term investors.
Should you own both IVV and VOO?
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Often not, because they overlap heavily (MSFT, AAPL, NVDA, AMZN and more), so holding both adds cost without much extra diversification. Walnut can show the overlap against your real portfolio.
Walnut is informational, not investment advice. ETF figures are approximations stamped to early 2026; verify current data with each issuer before deciding. Nothing here is a recommendation.