VTI vs. VOO: Which Vanguard ETF Will Buy More SpaceX Stock After Its IPO?
The SpaceX initial public offering (IPO) is set to take place on June 12, with the company raising $75 billion at a valuation of $1.77 trillion. The sheer size of SpaceX has ripple effects through the investing world, from the major indexes to exchange-traded funds (ETFs).
Although SpaceX was initially expected to be fast-tracked for entry into the S&P 500 (SNPINDEX: ^GSPC), S&P Dow Jones Indices released a press release on June 4 rejecting its earlier proposal. Now, SpaceX and other megacap companies like Anthropic and OpenAI will have to wait at least 12 months after their IPOs to join the S&P 500.
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Here's how the news impacts the two largest ETFs by net assets -- the Vanguard S&P 500 ETF (NYSEMKT: VOO) and the Vanguard Total Stock Market ETF (NYSEMKT: VTI) -- and which one will own more SpaceX after its IPO.
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Low-cost exposure to the broader market
The Vanguard S&P 500 ETF and the Vanguard Total Stock Market ETF have identical 0.03% expense ratios, which is the lowest of any index fund or ETF.
The Vanguard S&P 500 ETF uses the S&P 500 as a benchmark, while the Vanguard Total Stock Market ETF uses the CRSP U.S. Total Market Index. So while the Vanguard S&P 500 ETF has the same holdings as the S&P 500, the Vanguard Total Stock Market ETF has far more holdings -- 3,494 to be exact. However, both ETFs have similar long-term performance because the S&P 500 accounts for the vast majority of the U.S. stock market's value.
In practice, both ETFs will have the same top 500 holdings, but the Vanguard Total Stock Market ETF will assign slightly lower weightings to each stock to make room for the 3,000 or so smaller companies.
The biggest differences are with the largest companies.
Company Market
Cap Vanguard S&P 500
ETF Weight Vanguard Total Stock Market
ETF Weight Nvidia $5.3 trillion 7.9% 6.6% Alphabet $4.57 trillion 6.5% 5.8% Apple $4.51 trillion 6.5% 5.7% Microsoft $3.18 trillion 4.9% 4.4% Amazon $2.73 trillion 4.2% 3.7% Broadcom $1.98 trillion 3.2% 2.9% Meta Platforms $1.59 trillion 2.2% 1.9% Tesla $1.56 trillion 1.7% 1.6% Berkshire Hathaway $1.03 trillion 1.4% 1.2% JPMorgan Chase $833 billion 1.3% 1.1%
Data sources: Vanguard, YCharts. Market capitalization figure is as of June 4, 2026. Index weightings are as of April 30, 2026.
