The most searched personal finance comparison that nobody explains clearly. Side-by-side breakdown, the total market vs S&P 500 debate, and the honest answer.
| FUND | TYPE | ER | HOLDS | WHERE |
|---|---|---|---|---|
| VTI | Total US ETF | 0.03% | ~4,000 | Anywhere |
| FSKAX | Total US Mutual | 0.015% | ~3,500 | Fidelity |
| VOO | S&P 500 ETF | 0.03% | 500 | Anywhere |
| FXAIX | S&P 500 Mutual | 0.015% | 500 | Fidelity |
| SPY | S&P 500 ETF | 0.0945% | 500 | Anywhere |
| VT | Total World ETF | 0.07% | ~9,800 | Anywhere |
Total market vs S&P 500: historically, the performance difference has been negligible — within 0.1%/year over most rolling periods. Either is fine.
SPY vs VOO: SPY charges 0.0945% — over 3x what VOO charges for the same index. No reason to buy SPY in a long-term portfolio.
The honest answer: FSKAX in a Fidelity account. VTI in a Vanguard or any brokerage account. The difference between all of these is negligible. Just pick one and automate it. Do not let analysis paralysis delay investing by even one month.
Last updated 2026-04-15. Expense ratios per fund prospectuses.