Largest ETFs by AUM
Query: Largest US-listed ETFs by assets compared by expense ratio, 1-year return and dividend yield · data as of 2026-10-09
Built a single comparison table of the 45 largest US-listed ETFs by AUM (VTI at ~$2.3T down to TLT at ~$43B), sorted by assets descending, with symbol, fund name, ETF type, theme, AUM, expense ratio, 1Y/1M/6M returns, dividend yield and holdings turnover. Enriched every row with qualitative commentary on role, competitor overlap, structure and risk, and flagged cost outliers (SCHF/AGG/VUG/VTV at 0.03–0.04% versus EFA at 0.32% on nearly the same universe), income extremes (TLT/VCIT at the top, zero-yield GLD/IBIT), and the funds where expense-ratio data is unavailable.
The 45 largest US-listed ETFs by AUM as of October 9, 2026, spanning the core S&P 500 and total-market giants, international and bond index funds, plus the sector and thematic funds that have grown large enough to sit in the top tier. Expense ratios span a huge range for vehicles that often hold the same underlying securities, and dividend yields cluster by asset class.
Largest US-Listed ETFs by Assets Under Management
| Symbol | Fund Name | ETF Type | Theme | AUM | Expense Ratio | 1Y Return | 1M Return | 6M Return | Dividend Yield | Holdings Turnover | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VTI | Vanguard Total Stock Market ETF | broad_market | Total US Market | 2.309e+12 | 0.03% | 16.42% | 2.59% | 14.61% | 0.78% | 3.00% | The single largest US-listed fund and the classic whole-market core holding; its cap-weighted construction makes it a de facto mega-cap bet, with the top handful of names driving an outsized share of returns. |
| SPY | State Street SPDR S&P 500 ETF Trust | broad_market | US Large Cap | 7.838e+11 | 0.09% | 16.92% | 2.99% | 15.17% | 0.73% | 3.00% | The original S&P 500 unit investment trust — vastly liquid and the default vehicle for options, futures and institutional hedging. Its trust structure and higher fee versus newer index peers is the trade-off investors accept for that liquidity. |
| VXUS | Vanguard Total International Stock ETF | broad_market | International Equity | 6.523e+11 | 0.05% | 16.75% | -1.51% | 5.03% | 2.16% | 4.00% | Vanguard's total ex-US fund concentrates heavily in Japanese and European listings; currency is a meaningful swing factor given the firm dollar backdrop. |
| QQQ | Invesco QQQ Trust, Series 1 | broad_market | Nasdaq 100 | 4.94e+11 | 0.18% | 23.45% | 6.12% | 23.21% | 0.31% | 0.00% | The Nasdaq-100 tracker is effectively a growth/technology proxy — its concentration in a few mega-cap names makes it far more volatile than a broad index, which cuts both ways when AI leadership rotates. |
| BND | Vanguard Total Bond Market ETF | bond | Total Bond Market | 3.944e+11 | — | -1.60% | -1.12% | -2.66% | 3.47% | — | The core US bond aggregate: the go-to duration ballast in a portfolio, and the largest bond fund here. Performance is tethered to the path of Treasury yields. |
| VUG | Vanguard Growth ETF | theme | Large Cap Growth | 3.938e+11 | 0.03% | 13.77% | 5.56% | 19.92% | 0.28% | 12.00% | Growth-tilted sister to the value fund; the gap between the two is the cleanest single expression of the growth-versus-value debate in US large caps. |
| VTV | Vanguard Value ETF | theme | Large Cap Value | 2.45e+11 | 0.03% | 20.33% | -0.34% | 10.63% | 1.43% | 8.00% | Value-focused and heavily weighted to financials, energy and health care — the classic counterweight for portfolios that have become over-exposed to mega-cap growth. |
| IEFA | iShares Core MSCI EAFE ETF | country | Developed Markets (ex-US) | 1.866e+11 | 0.07% | 13.02% | -2.02% | 2.92% | 3.41% | 3.00% | The cheap core option for developed-market ex-US exposure; competes directly with the older, more expensive EAFE fund on the same universe of securities. |
| GLD | SPDR Gold Shares | commodity | Gold | 1.504e+11 | — | 3.30% | -2.97% | -12.02% | 0.00% | — | Large physical gold fund; a hedge against inflation and dollar weakness rather than a cash-flow asset. Note it holds bullion, so it carries no dividend. |
| AGG | iShares Core U.S. Aggregate Bon | bond | US Aggregate Bond | 1.365e+11 | 0.03% | -1.68% | -1.17% | -2.79% | 3.48% | 62.00% | iShares' aggregate bond core, the main competitor to Vanguard's total bond fund; essentially the same broad investment-grade exposure at a rock-bottom fee. |
| IWF | iShares Russell 1000 Growth Fund | broad_market | US Large Cap Growth | 1.323e+11 | 0.18% | 8.12% | 5.53% | 14.85% | 0.25% | 16.00% | Russell 1000 Growth is the index-fund route to the same mega-cap growth leadership that dominates the S&P 500, though its fee is notably richer than Vanguard's equivalent. |
| XLK | State Street Technology Select Sector SPDR ETF | sector | Technology | 1.245e+11 | 0.08% | 37.47% | 7.45% | 39.71% | 0.31% | 5.00% | The largest technology sector fund — a concentrated mega-cap tech and semiconductor holding that has been the single biggest driver of index-level returns; its narrowness is the primary risk. |
| BNDX | Vanguard Total International Bo | bond | International Bonds | 1.22e+11 | — | -0.63% | 0.27% | -0.70% | 4.18% | — | International bond exposure with currency hedging built into the mandate, so returns are driven more by foreign rate differentials than by FX translation. |
| IJH | iShares Core S&P Mid-Cap ETF | broad_market | US Mid-Cap | 1.192e+11 | 0.05% | 13.02% | -0.28% | 4.81% | 0.92% | 16.00% | Core mid-cap slice of the S&P 1500 — a diversification tool for investors whose US equity exposure has drifted entirely into large caps. |
| IJR | iShares Core S&P Small-Cap ETF | broad_market | US Small-Cap | 1.035e+11 | 0.06% | 16.77% | -2.40% | 6.36% | 0.87% | 25.00% | Small-cap core fund; more domestically-focused and rate-sensitive than large caps, making it a levered play on US economic momentum. |
| VT | Vanguard Total World Stock Index ETF | broad_market | Total World Stock | 9.533e+10 | 0.06% | 16.50% | 1.08% | 10.93% | 1.25% | 3.00% | One-ticket global equity exposure spanning US and international developed plus emerging markets — convenient, but roughly 60%+ of its weight still ends up in US mega-caps. |
| VXF | Vanguard Extended Market ETF | broad_market | US Extended Market | 9.374e+10 | 0.05% | 11.67% | -0.26% | 10.33% | 0.79% | 12.00% | Completion-index fund designed to pair with an S&P 500 core so the combination approximates the total market; useful for investors who want to control their mega-cap concentration. |
| SGOV | iShares 0-3 Month Treasury Bond | bond | US Treasury Short Term | 9.19e+10 | — | 3.78% | 0.31% | 1.82% | 3.04% | — | Short Treasury fund that behaves like an on-exchange cash alternative; its yield tracks the front end of the curve, so it becomes more attractive as the Fed holds rates up. |
| RSP | Invesco S&P 500 Equal Weight ETF | broad_market | US Large Cap Equal Weight | 8.912e+10 | 0.20% | 13.34% | 0.31% | 9.16% | 1.12% | 27.00% | Equal-weight S&P 500 — the antidote to mega-cap concentration. Its relative performance versus the cap-weighted index is a direct read on market breadth. |
| IWM | iShares Russell 2000 Index Fund | broad_market | US Small Cap | 8.093e+10 | 0.19% | 14.21% | -2.79% | 7.28% | 0.71% | 18.00% | The flagship small-cap benchmark and one of the most heavily traded risk-on instruments in the market; sensitive to domestic growth and credit conditions. |
| EFA | iShares MSCI EAFE ETF | country | Developed Markets | 7.742e+10 | 0.32% | 12.86% | -2.14% | 2.80% | 3.25% | 4.00% | The legacy EAFE fund; the same developed-market exposure is now available far more cheaply elsewhere, so it trades mainly on institutional inertia and liquidity. |
| IWD | iShares Russell 1000 Value ETF | broad_market | US Large Cap Value | 7.556e+10 | 0.18% | 25.63% | 0.45% | 15.06% | 1.03% | 14.00% | Large-cap value benchmark with a meaningful financials and health-care weight — a natural funding source when growth leadership is strong and a beneficiary when the market broadens. |
| VTIP | Vanguard Short-Term Inflation-P | bond | TIPS | 7.05e+10 | — | 1.53% | -0.49% | 0.05% | 2.92% | — | Short-maturity TIPS: protects against near-term inflation surprises with limited duration risk, a defensive complement to nominal short bond funds. |
| BSV | Vanguard Short-Term Bond ETF | bond | Short-Term Bonds | 7.041e+10 | — | 0.94% | -0.22% | -0.39% | 3.42% | — | Short-term investment-grade bond fund; low duration limits rate risk and makes it a parking spot for money that may be needed within a few years. |
| VCIT | Vanguard Intermediate-Term Corp | bond | Intermediate Corporate Bond | 6.873e+10 | — | -1.91% | -1.19% | -3.09% | 4.22% | — | Intermediate corporate credit fund; the extra yield over Treasuries is compensation for credit risk, which widens when growth expectations deteriorate. |
| SMH | VanEck Semiconductor ETF | theme | Semiconductors | 6.782e+10 | 0.35% | 74.88% | 7.68% | 38.10% | 0.18% | 12.00% | The largest pure semiconductor fund — a concentrated bet on the AI/compute supply chain. Its narrowness means single-name blowups and export headlines hit hard. |
| SCHF | Schwab International Equity ETF | country | International Developed | 6.649e+10 | 0.03% | 19.27% | -2.19% | 4.91% | 3.09% | 4.00% | A very cheap international developed-market fund; its rock-bottom fee makes it a direct cost-competitor to the pricier iShares EAFE offerings. |
| VBR | Vanguard Small-Cap Value ETF | theme | Small Cap Value | 6.547e+10 | 0.05% | 13.89% | -2.00% | 5.22% | 1.45% | 25.00% | Small-cap value is the classic academic factor tilt — diversifying against mega-cap growth, though it underperforms badly when risk appetite is narrow. |
| IXUS | iShares Core MSCI Total International Stock ETF | broad_market | International Total Market | 5.844e+10 | 0.07% | 16.91% | -1.34% | 5.36% | 2.95% | 3.00% | Total international market fund including emerging markets; a one-ticket non-US sleeve, though emerging-market swings add volatility. |
| IBIT | iShares Bitcoin Trust ETF | theme | Bitcoin | 5.812e+10 | — | -33.56% | 6.57% | 12.01% | 0.00% | — | Spot Bitcoin fund — the largest of the new crypto ETFs. Purely sentiment and liquidity driven with no yield or cash flow, and it can gap violently on regulatory headlines. |
| VONG | Vanguard Russell 1000 Growth ETF | theme | US Large Cap Growth | 5.481e+10 | 0.06% | 8.29% | 5.60% | 14.93% | 0.33% | 10.00% | Vanguard's cheap large-cap growth tracker, competing head-on with the pricier iShares growth fund on nearly identical holdings. |
| SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | theme | S&P 500 Growth | 5.386e+10 | 0.04% | 19.69% | 5.24% | 20.67% | 0.35% | 21.00% | A low-cost S&P 500 growth slice — essentially the growth half of the index at a fraction of the fee of dedicated growth funds. |
| BIV | Vanguard Intermediate-Term Bond | bond | Intermediate-Term Bond | 5.218e+10 | — | -2.40% | -1.29% | -3.37% | 3.75% | — | Intermediate core bond fund; sits between short and long duration, balancing yield against rate sensitivity. |
| VCSH | Vanguard Short-Term Corporate B | bond | Short Corporate Bond | 5.052e+10 | — | 1.35% | -0.24% | -0.17% | 3.79% | — | Short-term corporate credit; captures credit spread with limited rate duration, popular for laddered cash management. |
| VGIT | Vanguard Intermediate-Term Trea | bond | Intermediate Treasury | 4.945e+10 | — | -1.67% | -0.96% | -2.68% | 3.35% | — | Intermediate Treasury exposure — a clean, credit-risk-free duration instrument that benefits if growth slows and the Fed cuts. |
| XLF | State Street Financial Select Sector SPDR ETF | sector | Financials | 4.942e+10 | 0.08% | 3.89% | -3.42% | 8.56% | 1.15% | 6.00% | The financials sector fund, dominated by banks, insurers and payments. Its fortunes hinge on the rate curve and credit conditions, making it a contrarian value holding right now. |
| IEF | iShares 7-10 Year Treasury Bond | bond | US Treasury | 4.832e+10 | — | -3.53% | -1.61% | -4.23% | 3.44% | — | 7-10 year Treasury fund — the belly of the curve, sensitive to both inflation expectations and Fed path; often used as a hedge against equity drawdowns. |
| VTEB | Vanguard Tax-Exempt Bond ETF | bond | Tax-Exempt Bond | 4.763e+10 | — | -2.28% | -1.66% | -4.19% | 3.00% | — | National municipal bond fund; tax-free income makes it most valuable to investors in high tax brackets, and its yield premium versus Treasuries is a key relative-value signal. |
| QUAL | iShares MSCI USA Quality Factor ETF | other | US Quality Factor | 4.711e+10 | 0.15% | 16.53% | 4.21% | 14.31% | 0.62% | 21.00% | Quality factor fund screening for high-return, low-leverage, stable-earnings companies — a defensive tilt within US large caps that tends to hold up better in downturns. |
| DFAC | Dimensional U.S. Core Equity 2 ETF | broad_market | US Core Equity | 4.672e+10 | 0.18% | 17.78% | 1.31% | 12.47% | 0.66% | 8.00% | Dimensional's systematic core equity fund, blending size, value and profitability tilts rather than pure cap-weighting — a research-driven alternative to index funds. |
| BIL | State Street SPDR Bloomberg 1-3 | bond | T-Bills | 4.612e+10 | — | 3.71% | 0.33% | 1.81% | 3.07% | — | T-bill fund functioning as an on-exchange cash substitute; its yield is a direct read on the Fed funds rate. |
| VBK | Vanguard Small-Cap Growth ETF | theme | Small Cap Growth | 4.554e+10 | 0.05% | 13.31% | 2.09% | 9.40% | 0.32% | 24.00% | Small-cap growth sits at the opposite end of the factor spectrum from small-cap value and is far more sensitive to risk appetite and financing conditions. |
| MUB | iShares National Muni Bond ETF | bond | Municipal Bonds | 4.494e+10 | 0.05% | -2.06% | -1.32% | -3.84% | 2.81% | 11.00% | The largest national muni fund; for taxable investors its after-tax yield can beat Treasuries of similar maturity, and it offers a rare tax-free income stream. |
| DIA | State Street SPDR Dow Jones Industrial Average ETF Trust | broad_market | Dow Jones Industrial Average | 4.479e+10 | 0.16% | 12.37% | -0.66% | 8.46% | 1.08% | 8.00% | The price-weighted Dow Jones Industrial Average tracker — an old-school 30-stock bellwether that gives equal-ish influence to high-priced names and now carries heavy exposure to financials and industrial cyclicals. |
| TLT | iShares 20+ Year Treasury Bond | bond | US Treasury Long Term | 4.29e+10 | — | -8.57% | -3.08% | -7.73% | 4.19% | — | Long-duration Treasury fund; the most rate-sensitive vehicle on this list. It is the classic recession hedge and a deep underperformer when yields rise, as the firm dollar and sticky inflation backdrop imply. |
Takeaway
How to read the largest-ETF table
AUM is not the same as cost or quality. The biggest funds cluster into three groups:
- Broad US equity index cores — VTI, SPY, VOO/IVV-equivalents, and the growth/value/large/small slices (VUG, VTV, IWF, IWD, IJH, IJR, RSP, DFAC). These are the deepest, most liquid holdings in the market and anchor tens of millions of retirement accounts.
- International and total-world equity — VXUS, IEFA, EFA, SCHF, IXUS, VT. Same developed-market universe appears repeatedly at very different price points, which is the clearest lesson on expense ratios below.
- Bond and cash-like funds — BND, AGG, BNDX, SGOV, BSV, VCIT, VGIT, IEF, VTEB, MUB, TLT, BIL. Duration is the single variable that separates them, from T-bills at one end to 20+ year Treasuries at the other.
Outliers worth flagging
- Unusually low cost: VTI (0.03%), VUG/VTV (0.03%), AGG (0.03%), SCHF (0.03%) and SPYG (0.04%) are near the floor of what an ETF can charge. Several of these are cheaper than the near-identical funds sitting right next to them in the table — SCHF versus EFA (0.32%) on essentially the same developed-market universe is the starkest example.
- Unusually high yield: TLT and VCIT offer the highest income on the list, followed closely by BNDX, BND and AGG — all a direct function of the level of the yield curve rather than any active income strategy. EFA, IEFA and SCHF also screen meaningfully above the broad US funds on yield because developed international equities pay more.
- Zero yield: GLD and IBIT are the only holdings that generate no income, which is structural — bullion and spot Bitcoin produce no cash flow.
- Missing expense data: several large bond and commodity funds (BND, BNDX, SGOV, GLD, IBIT and the Vanguard bond suite) do not carry a populated fee in our data, so cost comparisons there should be treated as unavailable rather than zero.
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