ETF and Index Fund Comparisons

Each comparison below is built from the issuers' own fund documents and SEC filings, with every hard figure dated. They answer the same question from different angles: you know roughly what you want to own, and you need to pick between two tickers that look alike. Start with the group that matches your decision.

S&P 500: Same Index, Different Wrapper

These funds hold the same 500 companies. The differences are fee, fund structure, where you can hold them, and tax behavior.

SPY vs VOO: the original 1993 ETF against Vanguard's cheaper open-end fund, and why the "SPY lags by a third" charts are wrong.
IVV vs VOO: BlackRock and Vanguard at the same 0.03% fee. As close to identical as two funds get.
FXAIX vs VOO: Fidelity's 0.015% mutual fund against the Vanguard ETF, and the taxable-account catch.
SWPPX vs VOO: Schwab's no-minimum 0.02% mutual fund against the ETF.
VFIAX vs VOO: two share classes of the same Vanguard fund. Only the wrapper differs.
FNILX vs FXAIX: Fidelity's zero-fee large-cap fund against its S&P 500 fund, and the portability catch.
FNILX vs VOO: 0.00% against 0.03%, but FNILX tracks Fidelity's own index and only lives at Fidelity.
FZROX vs FXAIX: Fidelity's 0.00% total-market fund against the S&P 500, different coverage, one string attached.
SPYM (formerly SPLG) vs VOO: two S&P 500 ETFs at 0.02% and 0.03%; SPLG was renamed SPYM in 2025.
FXAIX vs VFIAX: Fidelity's and Vanguard's S&P 500 mutual funds, 0.015% with no minimum against 0.04% with a $3,000 minimum.
FXAIX vs SWPPX: Fidelity's and Schwab's S&P 500 mutual funds, 0.015% against 0.02%, quarterly against annual dividends.
SCHX vs VOO: about 750 large companies picked by rule against the committee-picked S&P 500, both at 0.03%.
IVV vs SPY: the structural one. SPY is a unit investment trust, so it cannot lend securities or reinvest dividends between distributions.
RSP vs VOO: the same 500 companies weighted equally instead of by market cap, and what that does to concentration.
IVV vs VTI: the S&P 500 against the whole market at the same 0.03%. The 500 are 88% of VTI by weight.
SPY vs SPYM: the same S&P 500 from State Street at 0.0945% and 0.02%, a unit trust against an ordinary ETF.
FXAIX vs SPY: Fidelity's 0.015% mutual fund against the original S&P 500 ETF, and how each one trades.
SPY vs VTI: the S&P 500 against the whole US market; 88% of VTI is S&P 500 stocks.
SCHB vs VOO: Schwab's 2,400-stock broad market ETF against the S&P 500, both at 0.03%.
FNILX vs FZROX: Fidelity's two zero-fee index funds; 90% of FZROX is already FNILX.
SPYM vs VTI: the S&P 500 at 0.02% (SPYM, formerly SPLG) against the whole US market at 0.03%; 88% overlap.
RSP vs SPY: the same 500 companies, equal-weighted or by size; only 43% the same portfolio.
FZROX vs VOO: Fidelity's free total-market fund against the S&P 500 ETF; 88% overlap, and only one is sold outside Fidelity.
FSKAX vs VOO: Fidelity's 0.015% total-market fund against VOO; really a total market vs S&P 500 choice.
SCHB vs SCHX: Schwab's broad market ETF against its large-cap ETF; 93% the same fund.
SWTSX vs VTI: Schwab's total-market mutual fund against Vanguard's ETF, both 0.03%; 94% overlap.
FBGRX vs FXAIX: Fidelity's actively managed Blue Chip Growth against its 0.015% S&P 500 index fund.
VFIAX vs VTI: Vanguard's S&P 500 Admiral fund against its total-market ETF; 88% overlap.
FXAIX vs VTSAX: Fidelity's S&P 500 fund against Vanguard's total-market Admiral fund.
FXAIX vs IVV: the same S&P 500 as a 0.015% Fidelity mutual fund or a 0.03% iShares ETF.
FXAIX vs SPYM (formerly SPLG): Fidelity's 0.015% fund against State Street's 0.02% ETF.
SPY vs SWPPX: the same S&P 500, and SWPPX costs about a fifth as much.
SCHX vs SWPPX: Schwab's 750-stock large-cap ETF against its S&P 500 mutual fund.
SCHB vs SWTSX: Schwab's broad market ETF against its total-market mutual fund, both 0.03%.
ITOT vs VOO: iShares' 2,460-stock total market ETF against the S&P 500; 88% of ITOT is the S&P 500.
SWPPX vs VTI: Schwab's S&P 500 mutual fund against Vanguard's total-market ETF.
SCHB vs SWPPX: Schwab's whole-market ETF against its S&P 500 fund.
FZROX vs VTSAX: 94% the same portfolio, so pick the fund family you will stay with.
SWTSX vs VTSAX: two total-market mutual funds, 0.03% with no minimum against 0.04% with $3,000.
VO vs VOO: mid caps against the S&P 500, and most of VO is already in VOO at smaller weights.

Broad Market vs Growth and Tech Tilts

Here the funds hold different things. The trade-off is diversification against concentration in the market's fastest-growing names.

QQQ vs VOO: the Nasdaq-100 against the S&P 500, with QQQ's year-by-year swings.
SPY vs QQQ: the two most-traded ETFs, read from a trader's point of view.
VUG vs VOO: large-cap growth against the full S&P 500 at the same fee, including the 2026 index rename.
VOO vs VOOG: the S&P 500 against its own growth half.
VGT vs QQQ: a pure technology sector fund against the Nasdaq-100.
QQQ vs QQQM: the same index at two fees, and what changed when QQQ left the unit-investment-trust structure in December 2025.
QQQM vs VOO: the tech-heavy Nasdaq-100 against the broad S&P 500, concentration and cost.
SCHG vs VOO: large-cap growth against the whole S&P 500, and the return-vs-risk trade-off.
VUG vs QQQ: broad large-cap growth against the Nasdaq-100, cost and concentration.
SCHG vs QQQ: Schwab's cheap growth ETF against the pricier Nasdaq-100.
SCHG vs SCHD: Schwab's growth ETF against its dividend ETF, a growth-vs-income barbell.
VGT vs QQQM: pure technology against the broader Nasdaq-100.
VGT vs XLK: two tech-sector ETFs, one broad and one concentrated.
VGT vs VOO: a pure technology-sector ETF against the whole S&P 500.
SCHG vs VUG: two large-cap growth ETFs with different growth definitions, and VUG's 2026 cut to 0.03%.
FSPGX vs FXAIX: Fidelity's Russell 1000 Growth fund against its S&P 500 fund, a style bet rather than a twin.
VOOG vs VUG: two Vanguard growth ETFs on different index providers, S&P against Morningstar, 0.07% against 0.03%.
QQQM vs SCHG: the Nasdaq-100 against Schwab's growth ETF; 59% overlap, and SCHG is the more top-heavy one.
QQQM vs VUG: the Nasdaq-100 against Vanguard's growth ETF at 0.15% and 0.03%.
QQQ vs VTI: the Nasdaq-100 against the whole market; 96% of QQQ sits inside VTI.
VTI vs VUG: the whole US market against its large-cap growth half, both at 0.03%.
SCHG vs SCHX: Schwab's growth ETF is the growth half of its large-cap ETF, at higher concentration.
VOO vs VOOV: the S&P 500 against its value half, 0.03% against 0.07%.
VOO vs VTV: the S&P 500 against Vanguard's large-cap value fund.
SCHB vs SCHG: the whole US market against its large-cap growth slice; SCHG is half of SCHB already.
QQQM vs VTI: the Nasdaq-100 at 0.15% against the whole market at 0.03%; 97% of QQQM sits inside VTI.
SCHG vs VTI: Schwab's growth ETF against the whole market; half of VTI is already SCHG.
MGK vs VUG: Vanguard's mega-cap growth ETF against its broader growth ETF; 86% the same.
SPY vs SPYG: the S&P 500 against its growth half, at under half the fee.
SCHG vs SPYG: two growth ETFs at the same 0.04% with different ideas of a growth stock.
SCHG vs SWPPX: Schwab's growth ETF against its S&P 500 mutual fund.
FXAIX vs QQQ: the whole S&P 500 against the Nasdaq-100's tech giants.
VTI vs VTV: the whole US market against its large-cap value slice.
FXAIX vs QQQM: the whole S&P 500 against the cheaper Nasdaq-100 ETF.
QQQM vs SPYM (formerly SPLG): the Nasdaq-100 is mostly already inside the S&P 500.
SCHG vs SPYM (formerly SPLG): a growth slice against the whole S&P 500, both for pennies.
MGK vs VOO: Vanguard's mega-cap growth ETF is the top half of VOO, weighted toward growth.
MGK vs QQQ: the same giants on top, different funds underneath, and a 0.13% fee gap.
SPYG vs VOO: every SPYG stock is already in VOO, weighted toward growth.
FSPGX vs SCHG: two cheap growth index funds tracking two different growth indexes.

Total U.S. Market vs the World

VTI vs VOO: the whole U.S. market against large caps only. How much do the small and mid caps really add?
VT vs VTI: one global fund against a U.S.-only fund, and why the ten-year gap is not the whole story.
VTI vs VXUS: the two halves of a global stock portfolio and how investors combine them.
VOO vs VXUS: zero overlap. The real question is how much of a portfolio to hold abroad.
VT vs VTWAX: one global Vanguard portfolio as an ETF (0.06%) or Admiral mutual fund (0.09%).
VT vs VTSAX: the whole world against the US only; 60% of VT is already VTSAX.
VTSAX vs VTWAX: US only or the whole world, both in Vanguard's Admiral mutual fund wrapper.
VTIAX vs VTSAX: Vanguard's international and US Admiral funds: no overlap, and how investors split them.
VTI vs VTIAX: zero overlap, so the question is how much of each.
FXAIX vs VT: the S&P 500 is 55% of VT, and the other 45% is the real question.
FZILX vs FZROX: not rivals: the two halves of a zero-fee Fidelity portfolio.
VTSAX vs VTI: the same total-market fund as a mutual fund or an ETF, and how to pick the wrapper.
VT vs VOO: the entire global stock market in one fund against the U.S. S&P 500.
VTSAX vs VOO: the total U.S. market fund against the S&P 500 ETF, coverage and structure.
SCHB vs VTI: Schwab's total-market ETF against Vanguard's, near-identical twins.
FZROX vs VTI: Fidelity's 0.00% total-market fund against Vanguard's portable ETF.
FSKAX vs VTI: Fidelity's total-market mutual fund against Vanguard's ETF.
VT vs VXUS: the whole world in one fund against international-only, and how they fit together.
ITOT vs VTI: two total-market ETFs at 0.03%, S&P against Morningstar.
FXAIX vs VTI: an S&P 500 mutual fund against a total-market ETF, coverage, wrapper and fee.
FSKAX vs VTSAX: Fidelity's and Vanguard's total-market mutual funds, 0.015% against 0.04%.
FSKAX vs FXAIX: the whole market against the S&P 500 at the same 0.015% fee.
FSKAX vs FZROX: Fidelity's portable total-market fund against its free one that cannot leave Fidelity.
VFIAX vs VTSAX: Vanguard's S&P 500 and total-market mutual funds at the same fee and minimum.
SWPPX vs SWTSX: Schwab's S&P 500 and total-market mutual funds, one basis point apart.

International Stocks

VEU vs VXUS: large and mid caps outside the U.S. against the same plus small caps.
VEA vs VXUS: developed markets only against developed plus emerging.
VTIAX vs VXUS: the same Vanguard international portfolio as a mutual fund or an ETF.
IXUS vs VXUS: total international from iShares (MSCI) and Vanguard (FTSE).
FSPSX vs FTIHX: two Fidelity international funds that look alike, one without emerging markets.
FTIHX vs FZILX: Fidelity's portable total-international fund against its free, Fidelity-only one.
FZILX vs VXUS: free at one broker against portable at any.
SCHF vs VXUS: Schwab's developed-only ETF at 0.03% against total international at 0.05%; SCHF leaves out about a third.
FTIHX vs VXUS: Fidelity's total-international mutual fund against Vanguard's ETF, 93% overlap.
FSPSX vs FZILX: Fidelity's developed-markets index fund against its free total-international fund, which adds emerging markets and Canada.
FSPSX vs VXUS: developed markets only against total international; half of VXUS is stocks FSPSX does not own.
VEA vs VWO: developed against emerging markets, and why South Korea sits in VEA.
SCHF vs VEA: same 0.03% fee, 89% overlap, and VEA adds small caps.
SCHF vs SWISX: Schwab's two international index funds hold different countries (FTSE vs MSCI EAFE).
SWISX vs VXUS: developed markets only, or the whole world outside the US.

Emerging Markets

EEM vs VWO: the same developing-world basket at a 12x fee gap, and why one fund holds South Korea while the other excludes it.
IEMG vs VWO: two low-cost emerging-markets ETFs, MSCI (with Korea) vs FTSE (without).
VWO vs VXUS: emerging markets alone against the whole non-U.S. market.

Dividend and Income ETFs

VYM vs SCHD: a broad high-yield basket against a quality-screened 100-stock fund.
SCHD vs VOO: a quality-dividend ETF against the S&P 500, income and value vs total return.
VIG vs VYM: Vanguard's dividend-growth fund against its high-yield fund, both at 0.04%.
VIG vs SCHD: dividend growth against quality high yield, income and tilt compared.
SCHD vs VTV: a 100-stock dividend screen against broad large-cap value; 92% of SCHD sits inside VTV.
VIG vs VOO: Vanguard's dividend-growth ETF against the S&P 500; over 90% of VIG is already inside VOO.
VOO vs VYM: the S&P 500 against Vanguard's high-dividend fund.
VTV vs VYM: two Vanguard value funds that share about two-thirds of their holdings.
SCHB vs SCHD: Schwab's whole market against its 100-stock dividend screen.
VTI vs VYM: the whole US market against Vanguard's high-dividend payers.
VIG vs VTI: dividend growers against the whole US market.
DGRO vs VYM: dividend growth against high dividend yield.
HDV vs SCHD: two quality-screened dividend funds that share about half their portfolio.
SCHD vs SPY: the dividend screen against the S&P 500.
QQQ vs SCHD: growth and dividends with almost nothing in common.
QQQM vs SCHD: the low-cost Nasdaq-100 against Schwab's dividend fund.
FXAIX vs SCHD: the whole S&P 500 against a dividend screen.
SCHD vs SWPPX: Schwab's dividend ETF against its S&P 500 fund.
NOBL vs SCHD: 25 years of dividend raises against a quality-and-yield screen.
VIG vs VUG: dividend growers against growth stocks, with only 27% in common.
BND vs SCHD: a bond fund and a dividend stock fund do different jobs.
DGRO vs SCHD: iShares' dividend-growth ETF against Schwab's quality-yield fund.
JEPI vs JEPQ: two covered-call income funds, and what a double-digit yield costs you.
JEPI vs SCHD: option income from an active fund against a quality-screened dividend index.
SCHD vs SPYD: a quality screen against the S&P 500's 80 highest yielders, at near-identical fees.
FDVV vs SCHD: Fidelity's own high-dividend index against the Dow Jones Dividend 100.
DGRO vs VIG: two dividend-growth ETFs, Morningstar against S&P, 0.08% against 0.04%.
SCHD vs VTI: a 100-stock dividend screen against the whole 3,500-company market. Not a like-for-like swap.
DIVO vs SCHD: a covered-call income fund against a passive dividend screen, and why a distribution rate is not a yield.
SCHD vs SCHY: the same index family applied abroad, and the foreign withholding tax that changes where it belongs.

Small-Cap and Factor ETFs

Where the index label hides the most variation. "Small-cap value" is not one standardised thing, and two funds wearing that name can hold very different portfolios.

AVUV vs VBR: actively managed against a passive index, 0.25% against 0.05%, and what a seven-year record can and cannot prove.

Gold and Silver ETFs

Physical metal trusts hold the same bullion, so fee and trading features decide it. They are generally taxed as collectibles, up to 28% on long-term gains.

GLD vs GLDM: the same gold from one sponsor family at 0.40% and 0.10%.
GLD vs IAU: State Street against iShares, 0.40% against 0.25%.
GLDM vs IAU: the two low-cost gold trusts for long-term holders.
SIVR vs SLV: two silver trusts, and the voluntary fee waiver behind SIVR's 0.30%.

Core Bond ETFs

The default bond holding in most portfolios. These two track closely related versions of the same index, so the tiebreaker is usually which brokerage you hold it at.

AGG vs BND: the Bloomberg U.S. Aggregate against its Float Adjusted version, both at 0.03%, and what "float adjusted" actually changes.
BND vs VBTLX: two share classes of one fund, 0.03% against 0.04%. A wrapper decision, not an investment one.
BND vs FXNAX: the same US bond market as a Vanguard ETF or a Fidelity mutual fund.
BND vs SGOV: a core bond fund and a T-bill fund do different jobs; they share no bonds.
SGOV vs USFR: 3-month T-bills against floating-rate Treasury notes.
SGOV vs VGSH: 3-month bills against 1-3 year Treasuries, and what happens when rates move.
BND vs BNDX: US bonds against currency-hedged international bonds.
BND vs VGIT: the whole bond market against intermediate Treasuries.
SCHD vs SGOV: dividend stocks and T-bills are not the same kind of income.

Background Guides

ETF vs index fund: the wrapper question in general terms.
Mutual funds vs ETFs: how each trades, prices, and is taxed.
Should you invest in the S&P 500?
Is the Nasdaq a good investment?

These comparisons are for educational purposes only and are not investment advice. Expense ratios, yields, holdings, and fund assets change over time; each article dates its figures and links the primary source. Confirm current numbers on the issuer's site and consult a qualified financial professional before investing.