Vanguard’s S&P 500 Fund Is About to Become World’s Largest ETF
- VOO close to overtaking SPY due to record-breaking inflows
- Cost-conscious investors, model portfolios have fueled demand
Vanguard campus in Paoli, Pennsylvania.
Photographer: Hannah Beier/BloombergThis article is for subscribers only.
A seemingly unstoppable flood of money has Vanguard Group Inc. on the brink of claiming a crown that State Street Corp. has held for decades.
Nearly $18 billion has flowed into Vanguard’s S&P 500 ETF (ticker VOO) in the opening days of 2025 — more than five times the amount attracted by the closest runner-up — after breaking the record for annual inflows last year with a $116 billion haul, data compiled by Bloomberg show. Assets in the fund have ballooned to $626 billion, putting it on the cusp of eclipsing the $637 billion SPDR S&P 500 ETF Trust (SPY) — currently the world’s largest ETF.