ETF Versus

SPYV vs VONV

State Street SPDR Portfolio S&P 500 Value ETF vs Vanguard Russell 1000 Value Index Fund ETF Shares

Last updated: 2026-04-02

State Street SPDR Portfolio S&P 500 Value ETF (SPYV) is an exchange-traded fund that provides exposure to large-cap U.S. value stocks trading at below-market valuations. It charges a very low expense ratio of 0.04%. The fund offers a moderate dividend yield of 1.82%. Launched in 2000, the fund has a 26-year track record.

AUM: $31.2B ER: 0.04% Yield: 1.82% Since: Sep 25, 2000

Vanguard Russell 1000 Value Index Fund ETF Shares (VONV) is an exchange-traded fund that provides exposure to large-cap U.S. value stocks trading at below-market valuations. It charges a low expense ratio of 0.06%. The fund offers a moderate dividend yield of 1.81%. Launched in 2010, the fund has a 16-year track record.

AUM: $16.8B ER: 0.06% Yield: 1.81% Since: Sep 20, 2010

Quick Verdict

SPYV has a slightly lower expense ratio (0.04% vs 0.06%), saving about $40 per $10,000 over 10 years. VONV has edged ahead over the past year (14.3% vs 11.0%).

Key Metrics

Metric SPYV VONV
Expense Ratio 0.04% 0.06%
Dividend Yield 1.8% 1.8%
Fund Family N/A N/A
Category US Large Cap Value US Large Cap Value

Performance Chart

Indexed to 100 at start (5-year comparison)

85 99 113 127 141 155 2021-04 2022-06 2023-09 2024-12 2026-04
SPYV +47.1%
VONV +39.4%

Performance Comparison

Period SPYV VONV Difference
1 Month -4.68% -4.56% -0.12%
3 Months -0.54% +1.28% -1.82%
6 Months +1.71% +4.82% -3.11%
YTD -0.54% +1.28% -1.82%
1 Year +10.97% +14.29% -3.32%
3 Years +39.05% +40.36% -1.31%
5 Years +47.10% +39.42% +7.68%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period SPYV Fees VONV Fees You Save
$10.000 10 years $80 $120 $40
$10.000 20 years $344 $515 $171
$10.000 30 years $1.112 $1.664 $552
$50.000 10 years $399 $598 $199
$50.000 30 years $5.560 $8.318 $2.758
$100.000 30 years $11.121 $16.637 $5.516

Risk Metrics

Based on 5 years of daily returns

Metric SPYV VONV
Annualized Volatility 14.4% 14.8%
Max Drawdown -19.1% -20.2%
Sharpe Ratio 0.30 0.22

Dividend Comparison

Metric SPYV VONV
Annual Dividend (per share) $1.03 $1.71
Dividend Yield 1.82% 1.81%
Distribution Frequency Quarterly Quarterly

Top Holdings

4 of top 9 holdings overlap (44% overlap in top holdings)

SPYV Top Holdings

NameWeight
Apple Inc.AAPL6.90%
Amazon.com, Inc.AMZN3.54%
Exxon Mobil CorporationXOM2.63%
Walmart Inc.WMT2.02%
Costco Wholesale CorporationCOST1.64%
Tesla, Inc.TSLA1.47%
Chevron CorporationCVX1.44%
The Procter & Gamble CompanyPG1.24%
The Home Depot, Inc.HD1.21%
Bank of America CorporationBAC1.20%

VONV Top Holdings

NameWeight
Berkshire Hathaway Inc.BRK.B2.90%
JPMorgan Chase & Co.JPM2.39%
Exxon Mobil CorporationXOM2.00%
Johnson & JohnsonJNJ1.86%
Amazon.com, Inc.AMZN1.72%
Alphabet Inc.GOOG1.63%
Walmart Inc.WMT1.56%
Micron Technology, Inc.MU1.43%
The Procter & Gamble CompanyPG1.22%

Which One Should You Choose?

Choose SPYV if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose VONV if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Either works if...

you just need broad us large cap value exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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