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VOO · Vanguard S&P 500 ETF · 0.03% expense ratio

VOO calculator: what Vanguard's S&P 500 ETF grows into

VOO tracks the S&P 500 total return index at a 0.03% expense ratio — one of the two cheapest S&P funds available. This calculator applies the same total-return math the index uses (dividends reinvested), letting you model both historical outcomes (1928–2024) and forward projections.

By Snowballr Research Team
Last reviewed July 2, 2026Fact-checked against primary sourcesEditorial standards
Coverage: Compound interest · Retirement · FIRE · Debt payoff · Mortgages · Fraud prevention
Built from: IRS · FINRA · SEC · BLS · Federal Reserve · Freddie Mac30+ primary sources verified
Your what-if
$
2010
19282024
You would have
$69K
by end of 2024 — from $10K invested at start of 2010
In 2010 dollars (real, after inflation)$47K
Annualized nominal return13.72%
Annualized real return10.88%
Years held15
Cumulative inflation×1.46

Uses annual S&P 500 total return (with dividends reinvested) and CPI-U inflation, 1928–2024. Source: Damodaran (NYU Stern) + Shiller CAPE + BLS. Excludes fees, taxes, and bid/ask. Real return = nominal ÷ cumulative CPI.

VOO launched September 2010, so any pre-2010 result in the historical mode is a "what-if the same index existed with VOO's fee structure." For 2010 onward, the calculator's result closely matches actual VOO price + dividend history — small deviation from VOO's realized 0.03% drag.

Compared to SPY (0.09%) and IVV (0.03%), VOO is functionally identical for buy-and-hold investors — the underlying index is the same, the expense ratio is the lowest-tier. Where they diverge: options market (SPY deepest liquidity), international tax treatment (VOO is US-domiciled; European investors need UCITS versions), and Vanguard's mutualization structure lowers securities-lending revenue leakage.

Long-run: VOO has returned roughly 13% annualized since inception through end of 2024 — above the 100-year average because 2010–2024 was one of the strongest 15-year bull runs on record. Using that number for forward projection is the single most common mistake — mean-reversion suggests 6-8% forward, not 13%.

Frequently asked

What is the historical return of VOO?

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VOO has returned approximately 13% annualized since inception (September 2010) through end of 2024. This is above the long-run S&P 500 average (~10% nominal) because it captures one of the strongest 15-year bull runs in modern history. Forward-looking models should use 6-8%, not 13%.

VOO vs SPY: which is better?

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For buy-and-hold, VOO wins on cost (0.03% vs 0.09% expense ratio, though the gap is tiny — 6 basis points is $60 per $100K per year). SPY wins on options liquidity and premium if you're a trader. IVV (iShares) matches VOO at 0.03%. All three track the same S&P 500 index.

Does VOO pay dividends?

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Yes, quarterly. VOO's dividend yield in 2026 is approximately 1.3%. The calculator assumes dividends are reinvested (DRIP), which is what happens automatically in most brokerages and IRAs.

How much would $10,000 invested in VOO in 2010 be worth today?

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A $10,000 lump-sum in VOO at inception (September 2010) with dividends reinvested through end of 2024 grew to approximately $60,500 — a 6.05× multiplier, or about 13.6% annualized nominal return. Real return (after ~2.4% average CPI inflation): approximately 11.0% annualized. This period captured one of the strongest 14-year bull runs in modern history.

What's VOO's expense ratio and how much does it cost me?

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0.03% annually. On a $100,000 investment that's $30 per year. Over 30 years at 10% growth, the fee drag reduces your final balance by about 0.9% — negligible compared to the fee drag of most mutual funds (0.5-1.5%).
Related tools
S&P 500 calculator
Underlying index — same math, no ETF wrapper.
SPY calculator
SPDR alternative — 0.09% expense ratio.
S&P 500 historical returns
Time machine for any start year 1928+.
S&P 500 DCA calculator
Monthly contribution scenarios.
Fund fee analyzer
How VOO's 0.03% compares to actively-managed funds.
Inflation calculator
What today's dollars are worth in the future.

Historical returns are not indicative of future results. Excludes broker/ETF fees, taxes, and bid-ask spread. Data: Damodaran (NYU Stern), Shiller CAPE, BLS CPI-U. See our sources, editorial standards, and disclaimer.