S&P 500 vs total market
VOO vs VTI in a taxable account
Compare an S&P 500 fund against a total US market fund, including coverage and distribution differences.
Modeled result
From 2011 to 2025, VOO finished ahead of VTI before tax and retained about $3,168 more in estimated end-date sale proceeds after taxes paid during the test, from the same $10,000 start.
Historical model
Growth of $10,000
2011-01-03 to 2025-12-31
| Date | VOO | VTI |
|---|---|---|
| Approx. Jan 2011 | $10,000 | $10,000 |
| Approx. Jul 2011 | $10,754 | $10,801 |
| Approx. Oct 2011 | $9,310 | $9,197 |
| Approx. Apr 2012 | $11,056 | $10,954 |
| Approx. Jul 2012 | $10,889 | $10,773 |
| Approx. Jan 2013 | $12,094 | $12,043 |
| Approx. Apr 2013 | $12,711 | $12,639 |
| Approx. Oct 2013 | $14,560 | $14,649 |
| Approx. Jan 2014 | $15,473 | $15,578 |
| Approx. Jul 2014 | $16,764 | $16,679 |
| Approx. Oct 2014 | $16,733 | $16,592 |
| Approx. Apr 2015 | $17,847 | $17,878 |
| Approx. Jul 2015 | $18,135 | $18,128 |
| Approx. Feb 2016 | $16,546 | $16,221 |
| Approx. May 2016 | $17,934 | $17,681 |
| Approx. Nov 2016 | $18,466 | $18,224 |
| Approx. Feb 2017 | $20,375 | $20,272 |
| Approx. Aug 2017 | $21,900 | $21,614 |
| Approx. Nov 2017 | $23,315 | $23,049 |
| Approx. May 2018 | $24,815 | $24,651 |
| Approx. Aug 2018 | $25,809 | $25,640 |
| Approx. Feb 2019 | $25,776 | $25,527 |
| Approx. May 2019 | $26,558 | $26,161 |
| Approx. Nov 2019 | $29,146 | $28,491 |
| Approx. Feb 2020 | $29,395 | $28,757 |
| Approx. Aug 2020 | $33,215 | $32,339 |
| Approx. Nov 2020 | $34,823 | $34,631 |
| Approx. Jun 2021 | $40,430 | $40,323 |
| Approx. Sep 2021 | $43,779 | $43,437 |
| Approx. Mar 2022 | $40,913 | $39,547 |
| Approx. Jun 2022 | $40,685 | $39,192 |
| Approx. Dec 2022 | $39,100 | $37,560 |
| Approx. Mar 2023 | $38,832 | $37,271 |
| Approx. Sep 2023 | $44,450 | $42,384 |
| Approx. Dec 2023 | $47,277 | $45,288 |
| Approx. Jun 2024 | $55,179 | $52,043 |
| Approx. Sep 2024 | $57,814 | $54,787 |
| Approx. Mar 2025 | $58,084 | $54,842 |
| Approx. Jun 2025 | $63,497 | $59,924 |
| Approx. Dec 2025 | $70,503 | $66,475 |
| Holding | Before tax | Value after taxes paid | If sold at end | Max drawdown |
|---|---|---|---|---|
VOO S&P 500 (VOO) | $70,503 | $66,309 | $58,774 | -33.99% |
VTI Total market (VTI) | $66,475 | $62,621 | $55,606 | -35.00% |
VOO
S&P 500 (VOO)
- After-tax if sold at end
- $58,774
- Before tax
- $70,503
- Value after taxes paid
- $66,309
- Max drawdown
- -33.99%
VTI
Total market (VTI)
- After-tax if sold at end
- $55,606
- Before tax
- $66,475
- Value after taxes paid
- $62,621
- Max drawdown
- -35.00%
Detailed metrics
| Holding | Pre-tax value | Pre-tax CAGR | Max drawdown | Value after taxes paid | Tax paid | Embedded tax | If sold at end | CAGR if sold |
|---|---|---|---|---|---|---|---|---|
S&P 500 (VOO) VOO | $70,503 | 13.91% | -33.99% | $66,309 | $1,656 | $7,535 | $58,774 | 12.54% |
Total market (VTI) VTI | $66,475 | 13.47% | -35.00% | $62,621 | $1,589 | $7,015 | $55,606 | 12.12% |
Assumptions
$10,000 lump sum; distributions reinvested; monthly rebalancing; 2011-01-03 to 2025-12-31.
Tax profile: Single filer, $150,000 income, taxable account, HIFO lots, 2026 federal brackets, no state tax.
FAQ
- Do VOO and VTI have different tax treatment?
- Their tax character is similar: both are broad, low-turnover index funds with comparable dividend yields. The difference is coverage, since VTI adds mid- and small-cap stocks that VOO does not hold.
- Is there a large overlap between the two funds?
- Yes. The S&P 500 makes up most of the total US market by weight, so VOO and VTI share their large-cap holdings. VTI differs mainly in the smaller-company tail.
Related pages
Portfolio Backtest
Run this comparison with your own dates and tax profile.
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