Vanguard Becomes Largest ETF Provider as VOO Hits $1T

Vanguard has surpassed BlackRock’s iShares to become the largest exchange-traded fund provider after the Vanguard S&P 500 ETF (VOO) crossed $1 trillion in assets and Vanguard posted higher net inflows, according to VettaFi data.

VettaFi reports Vanguard recorded $278 billion in year-to-date net inflows and $546 billion over the past 12 months. BlackRock posted $131 billion year-to-date and $418 billion over the same 12-month period. VOO reached $1.00 trillion, ahead of the iShares Core S&P 500 ETF (IVV) at $818 billion and the State Street SPDR S&P 500 ETF Trust (SPY) at $777 billion.

Vanguard now holds six of the 10 largest ETFs by assets: VOO at $1.00 trillion, the Vanguard Total Stock Market ETF (VTI) at $639 billion, the Vanguard FTSE Developed Markets ETF (VEA) at $221 billion, the Vanguard Growth ETF (VUG) at $216 billion, the Vanguard Value ETF (VTV) at $180 billion and the Vanguard Total Bond Market ETF (BND) at $157 billion.

Leading Vanguard’s inflows this year were VOO with $101 billion, VTI with $28 billion, the Vanguard Total International Stock ETF (VXUS) with $16 billion and BND with $13.4 billion, based on VettaFi data.

Vanguard cut fees on 53 funds earlier this year. The firm estimated those reductions would save investors about $250 million in 2026 and roughly $600 million over two years. As of February, Vanguard reported 100% of its active fixed-income funds and 89% of its fixed-income ETFs were priced in the lowest cost decile of their categories.

Performance figures cited by Vanguard show that as of February, 84% of its funds outperformed peer-group averages over the past decade, and 88% of its active fixed-income funds outperformed benchmarks. Vanguard also launched the Vanguard U.S. High-Yield Corporate Bond Index ETF (VCHY) to provide a lower-cost option for advisors targeting below-investment-grade corporate debt.

Roxanna Islam, head of sector and industry research at VettaFi, noted that Vanguard’s low-cost, diversified strategies have broad appeal for many retail investors, who use these products as long-term core holdings and help support steady asset growth.

Market participants have pointed to fee compression and low-cost index options as factors influencing investor flows. BlackRock continued to attract significant assets but trailed Vanguard in recent net inflow totals.