SPY vs VFIAX: Yield, Cost and Returns Compared
As of Nov 5, 2026, SPY yields more: 1.02% (dividend yield) against 0.79% for VFIAX. VFIAX is cheaper to own at 0.04% a year vs 0.09%. Over the same 18 years (Dec 2007 to Oct 2026), VFIAX returned 11.1% a year with distributions reinvested, and SPY 11.1%.
SPYState Street SPDR S&P 500 ETF Trust1.02%dividend yield| Compared | SPY | VFIAX |
|---|---|---|
| YieldDividend yield | 1.02% | 0.79% |
| Expense ratio | 0.09% | 0.04% |
| Total return, 1 yr | +12.0% | +11.8% |
| Total return, 3 yr (a year) | +23.3% | +23.2% |
| Total return, 5 yr (a year) | +12.0% | +12.0% |
| Total return, 10 yr (a year) | +15.3% | +15.4% |
| Worst drop since Dec 2007 | -48.2% | -48.4% |
| Share price since Dec 2007 | +417% | +418% |
| Pays | Quarterly | Quarterly |
| Issuer | State Street Investment Management | Vanguard |
| Assets | $796.9B | $1.7T |
| Started | 1993 | 2010 |
| Type | Large Blend | Large Blend |
Higher yield
SPY
1.02%
Lower cost
VFIAX
0.04%
Better total return
VFIAX
11.1%/yr
Smaller worst drop
SPY
-48.2%
Key facts: SPY vs VFIAX
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, SPY yields 1.02% (dividend yield) and VFIAX yields 0.79% (dividend yield).
- SPY's expense ratio is 0.09% and VFIAX's is 0.04%: $9 vs $4 a year on $10,000.
- From Dec 2007 to Oct 2026, $10,000 in SPY grew to $72,756 (11.1% a year) and $10,000 in VFIAX to $73,212 (11.1% a year), distributions reinvested.
- Their worst month-end drops over that time: -48.2% for SPY and -48.4% for VFIAX.
- 9 of SPY's top ten holdings are also in VFIAX's top ten, an overlap of at least 35% of the fund.
Cite this page
SmarterDividends, "SPY vs VFIAX: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/spy-vs-vfiax
$10,000 in each, Dec 2007 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
SPY became
$72,756
11.1% a year
VFIAX became
$73,212
11.1% a year
Year by year
| Year | SPY | VFIAX |
|---|---|---|
| 2025 | +17.7% | +17.8% |
| 2024 | +24.9% | +25.0% |
| 2023 | +26.2% | +26.2% |
| 2022 | −18.2% | −18.2% |
| 2021 | +28.7% | +28.7% |
| 2020 | +18.3% | +18.3% |
| 2019 | +31.2% | +31.5% |
| 2018 | −4.6% | −4.5% |
| 2017 | +21.7% | +21.8% |
| 2016 | +12.0% | +11.9% |
| 2015 | +1.2% | +1.3% |
| 2014 | +13.5% | +13.7% |
| 2013 | +32.3% | +32.3% |
| 2012 | +16.0% | +16.0% |
| 2011 | +1.9% | +2.1% |
| 2010 | +15.1% | +15.0% |
| 2009 | +26.4% | +26.7% |
| 2008 | −36.8% | −37.0% |
Total return each calendar year, distributions reinvested.
Top holdings
9 of the top ten overlap, at least 35% of each fund.
SPY
- AAPL Apple Inc7.7%
- NVDA NVIDIA Corp7.6%
- MSFT Microsoft Corp5.9%
- AMZN Amazon.com Inc3.6%
- GOOGL Alphabet Inc Class A2.5%
- AVGO Broadcom Inc2.4%
- META Meta Platforms Inc Class A2.1%
- GOOG Alphabet Inc Class C2.0%
- LLY Eli Lilly and Co1.7%
- TSLA Tesla Inc1.7%
VFIAX
- NVDA NVIDIA Corp8.4%
- AAPL Apple Inc7.4%
- MSFT Microsoft Corp5.8%
- AMZN Amazon.com Inc3.7%
- GOOGL Alphabet Inc Class A3.1%
- AVGO Broadcom Inc2.5%
- GOOG Alphabet Inc Class C2.5%
- META Meta Platforms Inc Class A2.4%
- MU Micron Technology Inc1.8%
- TSLA Tesla Inc1.5%
SPY vs VFIAX: questions
Is SPY or VFIAX better?
It depends on the job. SPY pays more today (1.02% vs 0.79%), VFIAX costs less, and VFIAX has the better total return over Dec 2007 to Oct 2026, with SPY holding up better in its worst stretch. For income, look at yield and whether the payouts hold up; for growth, total return and drawdowns.
Which pays a higher dividend, SPY or VFIAX?
SPY, at 1.02% against 0.79% for VFIAX as of Nov 5, 2026. On $10,000 that's about $102 vs $79 a year at today's rates.
Which has the better total return?
VFIAX. From Dec 2007 to Oct 2026, it returned 11.1% a year with distributions reinvested, against 11.1% for SPY. $10,000 became $73,212 vs $72,756.
Which is cheaper, SPY or VFIAX?
VFIAX, with a 0.04% expense ratio against 0.09%.
Do SPY and VFIAX hold the same things?
Partly. 9 of their top ten holdings match (NVDA, AAPL, MSFT, AMZN), at least 35% of each fund. Owning both doubles up on those.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. SPY leads on 5 of 8 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.