SPY vs. VOO: Returns, Risk and $10,000 Compared

SPY vs. VOO Calculator

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What would $10,000 in SPY vs. VOO be worth?

Invested	SPY	VOO	SPY per year	VOO per year
1 year	$11,124	$11,129	+11.2%	+11.3%
3 years	$17,087	$17,125	+19.6%	+19.6%
5 years	$17,654	$17,693	+12.0%	+12.1%
10 years	$39,989	$40,193	+14.9%	+14.9%
15 years	$78,202	$78,914	+14.7%	+14.8%

SPY vs. VOO returns by year

Year	SPY	VOO	Ahead
2026 (so far)	+11.2%	+11.2%	Even
2025	+17.7%	+17.8%	VOO
2024	+24.9%	+25.0%	VOO
2023	+26.2%	+26.3%	VOO
2022	-18.2%	-18.2%	Even
2021	+28.7%	+28.8%	VOO
2020	+18.4%	+18.3%	SPY
2019	+31.2%	+31.4%	VOO
2018	-4.6%	-4.5%	VOO
2017	+21.7%	+21.8%	VOO
2016	+12.0%	+12.2%	VOO
2015	+1.3%	+1.3%	Even
2014	+13.5%	+13.5%	Even
2013	+32.3%	+32.4%	VOO
2012	+16.0%	+16.0%	Even

Prices run through 2026-11-02, with dividends reinvested.

Which has returned more, SPY or VOO?

Over the last 10 years, SPY and VOO returned almost the same: 14.9% and 14.9% a year, with dividends reinvested. So $10,000 in SPY would be worth about $39,989 now, against $40,193 in VOO. Over 15 years, the longest stretch both have prices for, the yearly figures are 14.7% for SPY and 14.8% for VOO. We use month-end prices through November 2026, adjusted for splits and dividends, before taxes and fees.

The ride matters as much as the result. SPY's monthly returns swung about 13.9% a year, measured as annualized standard deviation, against 14.0% for VOO, so the two have been about equally bumpy. SPY's largest fall from a high was 23.9%, from December 2021 to September 2022. VOO's was 23.9%, from December 2021 to September 2022.

Year by year, SPY beat VOO in 2 of 15 full calendar years. SPY's best year was 2013, at 32.3%, and VOO's was 2013, at 32.4%. Both had their worst year in 2022, when SPY returned -18.2% and VOO returned -18.2%. Month to month, they moved almost in lockstep, with a correlation of 1.00. Holding both adds little variety, because they rise and fall together.

Buying a little each month narrows the gap from timing. Putting $100 a month into each for the last 10 years would have cost $12,000 and be worth about $26,356 in SPY and $26,442 in VOO. These results are historical and hypothetical, and past performance doesn't indicate future results. A fund spreads your money across its holdings, but it still falls when they fall, as the drops above show. See each on its own on our SPY calculator and VOO calculator.

How we compare SPY and VOO

We line up both histories by month, starting October 2010, the first month both have prices. The calculator above runs any amount and period for SPY, and shows the same money in VOO beside it. Price data from Alpha Vantage.

Frequently Asked Questions

Is SPY or VOO better?

Neither is better for everyone. Their returns have been nearly identical, 14.9% and 14.9% a year over 10 years, so small differences like fees and how easily you can buy each may decide it. Consider what you already own, how long you'll stay invested and how you'd handle a large drop. Nothing here is investment advice.

What is the 10-year return of SPY vs. VOO?

Over the last 10 years, SPY returned 14.9% a year and VOO returned 14.9% a year, with dividends reinvested. That's a total return of 299.9% for SPY and 301.9% for VOO. The table above shows other periods, and the calculator runs any dates you choose.

How much would $10,000 in SPY vs. VOO be worth today?

Invested 15 years ago, $10,000 would be worth about $78,202 in SPY and $78,914 in VOO, as of November 2026. Over 10 years, it's $39,989 and $40,193. These assume dividends were reinvested, and leave out taxes and fees.

Which is riskier, SPY or VOO?

By how much each swung, they've been about equally risky: about 14.0% a year against 13.9%. SPY has had the deeper fall, 23.9% from its high, measured at month ends. Higher swings mean a wider range of outcomes, so the dates you buy and sell matter more.

How did SPY and VOO do in their worst years?

Both had their worst full calendar year in 2022. SPY returned -18.2% and VOO returned -18.2%. Bad years tend to arrive together for investments that move almost in lockstep.

How often has SPY beaten VOO?

SPY came out ahead in 2 of 15 full calendar years, or 13% of the time, and VOO in the rest. So far in 2026, through November 2026, SPY is up 11.2% and VOO is up 11.2%. Leadership often changes from year to year, which is hard to predict ahead of time.

Should I invest in both SPY and VOO?

It depends on how much they overlap. Their monthly returns have a correlation of 1.00, where 1 means they move exactly together. At that level, owning both is close to owning more of one, so it adds little spread. Check what each holds before splitting your money.

What if I invested $100 a month in SPY or VOO?

Over the last 10 years, $100 at each month end would have cost $12,000 and be worth about $26,356 in SPY and $26,442 in VOO, with dividends reinvested. Monthly buying spreads your entry prices, so the result depends less on one lucky or unlucky start date. Use the Buying option above to test it.

Are SPY and VOO the same kind of investment?

They're both ETFs. SPDR S&P 500 ETF trades as SPY, and Vanguard S&P 500 ETF trades as VOO. Their returns track each other closely, so they likely hold many of the same companies. Read each one's prospectus or annual report for fees and holdings, which we don't cover here.

Do these returns include dividends?

Yes. We use prices adjusted for splits and dividends, which assumes every dividend was reinvested. That matters most when one pays out more than the other, because a plain price chart would understate its return. Our figures leave out brokerage fees and the tax you'd owe on dividends in a regular account.

How are gains on SPY and VOO taxed?

In a taxable US account, you owe capital gains tax when you sell at a profit, at long-term rates of 0%, 15% or 20% if you held for more than a year. Dividends are usually taxed in the year you receive them. In a Roth IRA or 401(k), different rules apply. Check IRS guidance or ask a tax professional about your situation.