VOO Becomes First ETF to Hit $700 Billion
The hugely popular ETF hit another big milestone.
2025 has been a banner year for the Vanguard S&P 500 ETF (VOO).
After overtaking the SPDR S&P 500 ETF Trust (SPY) earlier this year to become the world’s largest ETF, VOO just notched another milestone, becoming the first ETF in history to cross $700 billion in assets under management.
It’s a quieter record than dethroning SPY, but it puts VOO one step closer to an even more eye-popping figure: $1 trillion.
As of Wednesday, VOO had roughly $712 billion in assets under management, well ahead of the $648 billion in SPY and the $643 billion in the iShares Core S&P 500 ETF (IVV), according to ETF.com data. That gap has widened steadily throughout the year thanks to massive inflows.
VOO has already taken in $74 billion in net new money in 2025, more than triple the inflows of the next closest fund, the iShares 0-3 Month Treasury Bond ETF (SGOV), which has added $23.8 billion.
At this pace, VOO is on track to post another $100 billion-plus year, following its record-setting $117 billion haul in 2024. If momentum continues, the trillion-dollar ETF club—once a far-off fantasy—could become a reality within the next few years.
The fund’s success reflects a combination of strong stock market performance, Vanguard’s reputation for investor-friendly practices, and a loyal base of long-term investors drawn to its low-cost structure.
With an expense ratio of just 0.03%, VOO offers broad U.S. stock market exposure at an ultra-low cost, making it a core building block in millions of portfolios. And for now, it’s showing no signs of slowing down.
