VOO Vs. VTI: Which US Stock Market ETF Could Benefit More From Interest Rate Cuts?
VOO Vs. VTI: Which US Stock Market ETF Could Benefit More From Interest Rate Cuts?
The Vanguard Total Stock Market ETF tracks the CRSP U.S. Total Market Index and holds 3,656 stocks at the time of writing.When it comes to two of the largest U.S. stock market funds, one could stand out now that the Federal Reserve decided to cut interest rates
当谈到美国两大股票市场基金时，一种可能会脱颖而出，因为美联储决定降低利率期货
Here's a look at key differences between the Vanguard S&P 500 ETF (NYSE:VOO) and the Vanguard Total Stock Market ETF (NYSE:VTI).
以下是Vanguard标普500指数ETF (NYSE:VOO) 和Vanguard整体股市指数ETF (NYSE:VTI) 之间的主要差异。
VOO ETF Vs. VTI ETF: The Vanguard S&P 500 ETF tracks the S&P 500 Index and holds around 500 stocks. The ETF is heavily weighted among the Magnificent Seven stocks and large-cap companies.
VOO ETF对VTI ETF：Vanguard标普500ETF跟踪标普500指数，持有大约500只股票。该etf在科技七巨头股票和大市值公司中占据重要地位。
The Vanguard Total Stock Market ETF tracks the CRSP U.S. Total Market Index and holds 3,656 stocks at the time of writing.
整体股市指数etf-vanguard跟踪CRSP美国全市场指数，持有3656只股票。
The key difference is that only the VTI holds stocks outside the S&P 500 Index, which gives the ETF a higher weighting of small-cap and mid-cap stocks.
主要区别在于只有VTI持有标普500指数之外的股票，这使得该etf对小盘和中盘股票具有更高的权重。
Rate cuts have been a positive for small-cap stocks in the past as it makes financing more affordable to the companies.
过去降息一直对小盘股市是有利的，因为这使得为公司提供融资更加负担得起。
Here are the top 10 holdings of the two ETFs as of Aug. 31:
以下是截至8月31日两个etf的前十大持有股：
| VOO Top 10 Holdings, Fund Weighting | VTI Top 10 Holdings, Fund Weighting |
| Apple Inc (AAPL): 7.0% | Apple Inc (AAPL): 6.1% |
| Microsoft (MSFT): 6.5% | Microsoft (MSFT): 5.7% |
| NVIDIA (NVDA): 6.2% | NVIDIA (NVDA): 5.1% |
| Amazon.com Inc (AMZN): 3.5% | Amazon.com Inc (AMZN): 3.1% |
| Meta Platforms (META): 2.4% | Meta Platforms (META): 2.1% |
| Alphabet Class A (GOOGL): 2.0% | Alphabet Class A (GOOGL): 1.8% |
| Berkshire Hathaway (BRK.B): 1.8% | Berkshire Hathaway (BRK.B): 1.6% |
| Alphabet Class C (GOOG): 1.7% | Alphabet Class C (GOOG): 1.5% |
| Eli Lilly (LLY): 1.6% | Eli Lilly (LLY): 1.5% |
| Broadcom (AVGO): 1.5% | Broadcom (AVGO): 1.4% |
| VOO前10大持股，基金权重 | VTI前10大持股，基金权重 |
| 苹果公司 (AAPL): 7.0% | 苹果公司 (AAPL): 6.1% |
| 微软 (MSFT): 6.5% | 微软 (MSFT): 5.7% |
| 英伟达 (NVDA): 6.2% | 英伟达 (NVDA): 5.1% |
| 亚马逊公司 (AMZN): 3.5% | 亚马逊公司（AMZN）：3.1% |
| meta platforms（META）：2.4% | meta platforms（META）：2.1% |
| 字母表A类（GOOGL）：2.0% | 字母表A类（GOOGL）：1.8% |
| 伯克希尔哈撒韦（BRk.B）：1.8% | 伯克希尔哈撒韦（BRk.B）：1.6% |
| 字母表C类（GOOG）：1.7% | 字母表C类(GOOG)：1.5% |
| 礼来(LLY)：1.6% | 礼来(LLY)：1.5% |
| 博通(AVGO)：1.5% | 博通(AVGO)：1.4% |
As investors can see, the top 10 holdings are the same across both funds. The difference is the weighting, with the VOO more heavily concentrated among its top 10 holdings and VTI holding smaller weightings due to the larger amount of overall holdings in the fund.
正如投资者所看到的，这两个基金的前10个持股是相同的。不同之处在于权重，VOO更加集中在其前10个持股上，而VTI由于基金中具有更多的持仓量，所以其占比较小。
Each of the two Vanguard ETFs has an expense ratio of 0.03%, which is on the lower side for ETFs and is cheaper than the 0.09% expense rate for the SPDR S&P 500 ETF Trust (NYSE:SPY), which also tracks the S&P 500 ETF Trust and trades similar to VOO.
两个Vanguard ETF均有0.03%的费用比率，这在ETF中属于较低的，比SPDR S&P 500 ETF Trust（NYSE:SPY）的0.09%的费用率要便宜，后者也跟踪S&P 500 ETF Trust并类似于VOO交易。
ETF Performance: Due to their different holdings and tracking methods, the ETFs have turned in different performances over the years.
etf表现：由于其不同的持仓和跟踪方法，多年来etf的表现也有所不同。
Read Also: VOO Vs. VTI: Here Are The Key Differences Between Vanguard US Stock Market ETFs Investors Should Know
阅读更多：VOO与VTI：这是Vanguard美国股票市场etf投资者应该了解的关键差异
ETF Performance: With different indexes tracked and holdings, the ETFs have turned in different performances over the years.
ETF表现：由于追踪不同的指数和持仓，这些ETF多年来的表现也有所不同。
Here's a look at the current performances of VOO vs. VTI and how the two ETFs stack up against SPY, which was the first U.S. ETF to ever launch, back in 1993.
让我们来看看VOO与VTI目前的表现，以及这两只etf与1993年首个推出的美国ETF SPY的比较。
| VOO | VTI | SPY | |
| Year-to-Date Return | +19.3% | +18.0% | +19.3% |
| 1-Year Return | +27.2% | +26.2% | 26.9% |
| 5-Year Return | +108.9% | +102.2% | +89.9% |
| 10-Year Return | +237.5% | +219.4% | 234.1% |
| VOO | VTI | SPY | |
| 年初至今回报率 | +19.3% | +18.0% | +19.3% |
| 1年回报率 | +27.2% | +26.2% | 26.9% |
| 五年回报率 | +108.9% | +102.2% | +89.9% |
| 十年回报率 | +237.5% | +219.4% | 234.1% |
The Vanguard S&P 500 ETF has slightly outperformed the SPDR S&P 500 ETF Trust, likely the result of rebalancing timing and asset weighting. The ETF has also outperformed the Vanguard Total Stock Market ETF with large-cap stocks performing better than the overall market index based on the time periods above.
Vanguard S&P 500 ETF 稍微跑赢了 SPDR S&P 500 ETF Trust，可能是由于再平衡时机和资产配比的结果。该 ETF 也表现出色，大盘股表现优于以上的时间段中的整个市场指数，其中包括 Vanguard Total Stock Market ETF。
With rate cuts now a top consideration on the minds of investors, the Vanguard Total Stock Market ETF could attract inflows as it captures a higher weight of small cap stocks that could be set for a new leg higher.
随着投资者开始认真考虑降息，Vanguard Total Stock Market ETF 可能吸引资金流入，因为它涵盖了更多小盘股，可能迎来新一轮上涨。
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Image: Shutterstock
图片：shutterstock
