VTI vs VOO vs FSKAX.
Which index fund?

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Reviewed against primary sources cited at the bottom of this page.

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.

VTI, VOO, and FSKAX are effectively interchangeable. VTI = total U.S. market (~4,000 stocks), VOO = S&P 500 (~500 stocks), FSKAX = Fidelity total market. All charge 0.015–0.035%. The 10-year return difference between them is typically <0.5%/yr. Pick whichever your brokerage offers and stop deliberating.

  • VTI (Vanguard): 0.03% ER, ~4,000 stocks, includes small- and mid-caps that VOO doesn't.
  • VOO (Vanguard): 0.03% ER, ~500 stocks. The S&P 500 represents ~80% of U.S. market cap.
  • FSKAX (Fidelity): 0.015% ER, ~4,000 stocks. Functionally identical to VTI but cheaper by 0.015%.
  • Performance difference over 10 years: typically <0.3–0.5% cumulative. Small-cap tilt in VTI/FSKAX is marginal.
  • The real decision is total market vs. S&P 500. For most people, the answer doesn't matter enough to agonize over.
This page covers US-specific accounts and tax law. Outside the US? The priority order is the same, the account names differ (ISA in the UK, TFSA/RRSP in Canada, Super in Australia, etc.).

The comparison

FUND TYPE ER HOLDS WHERE
VTITotal US ETF0.03%~4,000Anywhere
FSKAXTotal US Mutual0.015%~3,500Fidelity
VOOS&P 500 ETF0.03%500Anywhere
FXAIXS&P 500 Mutual0.015%500Fidelity
SPYS&P 500 ETF0.0945%500Anywhere
VTTotal World ETF0.07%~9,800Anywhere

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.

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