SPY vs. VT

Last updated Jun 25, 2026

SPY (State Street SPDR S&P 500 ETF) and VT (Vanguard Total World Stock ETF) are both exchange-traded funds - SPY is a S&P 500 fund tracking the S&P 500 Index, while VT is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, SPY returned 15.53%/yr vs 12.96%/yr for VT. Their correlation of 0.94 suggests significant overlap in exposure. SPY charges 0.09%/yr vs 0.06%/yr for VT.

Performance

SPY vs. VT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ETF (SPY) and Vanguard Total World Stock ETF (VT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPY achieves a 8.10% return, which is significantly lower than VT's 10.01% return. Over the past 10 years, SPY has outperformed VT with an annualized return of 15.53%, while VT has yielded a comparatively lower 12.96% annualized return.

SPY

• 1D: -0.05%
• 1M: -1.41%
• YTD: 8.10%
• 6M: 6.77%
• 1Y: 22.18%
• 3Y*: 20.66%
• 5Y*: 12.96%
• 10Y*: 15.53%

VT

• 1D: -0.05%
• 1M: -0.48%
• YTD: 10.01%
• 6M: 9.01%
• 1Y: 24.09%
• 3Y*: 19.90%
• 5Y*: 10.41%
• 10Y*: 12.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPY vs. VT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY State Street SPDR S&P 500 ETF	8.10%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%
VT Vanguard Total World Stock ETF	10.01%	22.43%	16.49%	22.02%	-18.00%	18.27%	16.59%	26.81%	-9.76%	24.50%

Correlation

The correlation between SPY and VT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008	0.94

The correlation between SPY and VT has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

SPY vs. VT - Sectors Allocation Comparison

Sectors	SPY	VT
Technology	39.0%	31.1%
Financial Services	11.1%	15.2%
Communication Services	10.6%	8.0%
Consumer Cyclical	9.9%	9.3%
Healthcare	8.3%	7.9%
Industrials	7.8%	11.4%
Consumer Defensive	4.5%	4.5%
Energy	3.1%	3.8%
Utilities	2.1%	2.4%
Real Estate	1.8%	2.3%
Basic Materials	1.7%	4.1%

Return for Risk

SPY vs. VT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPY

SPY Risk / Return Rank: 60
SPY Sharpe Ratio Rank: 59
SPY Sortino Ratio Rank: 57
SPY Omega Ratio Rank: 59
SPY Calmar Ratio Rank: 57
SPY Martin Ratio Rank: 67

VT

VT Risk / Return Rank: 60
VT Sharpe Ratio Rank: 59
VT Sortino Ratio Rank: 58
VT Omega Ratio Rank: 59
VT Calmar Ratio Rank: 56
VT Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPY vs. VT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and Vanguard Total World Stock ETF (VT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SPY	VT	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.79	0.00
Sortino ratio: Return per unit of downside risk	2.45	2.48	-0.03
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.51	2.50	+0.01
Martin ratio: Return relative to average drawdown	11.15	10.81	+0.34

SPY vs. VT - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 1.79, which is comparable to the VT Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SPY and VT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPY vs. VT - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for SPY and VT.

Drawdown Indicators

	SPY	VT	Difference
Max Drawdown Largest peak-to-trough decline	-55.19%	-50.27%	-4.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-9.67%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-16.51%	-2.25%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-26.38%	+1.88%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	-34.24%	+0.52%
Current Drawdown Current decline from peak	-3.22%	-2.84%	-0.38%
Average Drawdown Average peak-to-trough decline	-9.03%	-7.00%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.23%	-0.24%

Volatility

SPY vs. VT - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 4.85%, while Vanguard Total World Stock ETF (VT) has a volatility of 5.65%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY	VT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	5.65%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	9.81%	11.29%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.47%	13.56%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.15%	16.19%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	17.20%	+0.75%

SPY vs. VT - Expense Ratio Comparison

SPY has a 0.09% expense ratio, which is higher than VT's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPY vs. VT - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.03%, less than VT's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
VT Vanguard Total World Stock ETF	1.61%	1.82%	1.95%	2.08%	2.20%	1.82%	1.66%	2.32%	2.53%	2.11%	2.39%	2.45%

Frequently Asked Questions

Can I hold both SPY and VT in my portfolio?

With a correlation of 0.96, SPY and VT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPY or VT?

VT has higher volatility (5.65%) compared to SPY (4.85%). In terms of maximum drawdown, SPY dropped -55.19% vs VT's -50.27%.

Which ETF is better, SPY or VT?

On 10-year performance, SPY leads with 15.53% vs 12.96% for VT. On fees, VT is cheaper at 0.06% per year. On volatility, SPY has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPY or VT?

Over the 10-year period, SPY has performed better with a 15.53% return vs 12.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPY or VT?

VT is cheaper with a 0.06% expense ratio, compared with 0.09% for SPY.

Which ETF pays a higher dividend yield, SPY or VT?

VT has the higher dividend yield at 1.61%, compared with 1.03% for SPY.

What is the main difference between SPY and VT?

SPY is categorized as S&P 500, while VT is Global Equities. SPY tracks S&P 500 Index, while VT tracks FTSE Global All Cap Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.09% for SPY and 0.06% for VT.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.79 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.