Both track the same 500 US companies, but one costs 3x more. Here's what NZ investors need to know.
VOO has a lower expense ratio (0.03% vs 0.09%) while SPY has higher liquidity and tighter spreads. Both track the same S&P 500 index. The fee difference can compound over long time periods.
| Feature | SPY | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.03% | VOO |
| Index Tracked | S&P 500 | S&P 500 | Tie |
| Holdings | ~500 | ~500 | Tie |
| Dividend Yield | ~1.4% | ~1.4% | Tie |
| AUM | $550B+ | $450B+ | SPY |
| Daily Volume | 80M+ shares | 5M+ shares | SPY |
| Bid-Ask Spread | $0.01 | $0.01-0.02 | SPY |
| Provider | State Street | Vanguard | - |
| Structure | Unit Trust | ETF | VOO |
A 0.06% fee difference seems tiny, but it compounds over time:
SPY (0.09% fee)
$372,000
VOO (0.03% fee)
$378,000
VOO saves you ~$6,000 NZD over 30 years on a $50,000 investment. For larger portfolios, the savings are even greater.
These are general product characteristics, not recommendations. Consult a licensed financial adviser to assess suitability for your circumstances.
Hatch, Stake, Sharesies, and Interactive Brokers all offer both SPY and VOO. No difference in accessibility.
Both are US-domiciled ETFs subject to the same FIF rules and 15% US withholding tax (with W-8BEN form).
Both are priced in USD. Your returns will be affected by NZD/USD exchange rate movements regardless of which you choose.
Both ETFs track the same index. VOO has lower fees (0.03% vs 0.09%) while SPY has higher liquidity. Your choice may depend on trading frequency, order size, and platform availability.