Key facts
- Vanguard's S&P 500 ETF (VOO) surpassed $1 trillion in assets.
- VOO is the first ETF to reach this asset milestone.
- The fund hit the milestone on Tuesday.
- VOO has a management fee of 0.03%.
The Vanguard S&P 500 ETF (VOO) has achieved a historic milestone, becoming the first exchange-traded fund (ETF) to surpass $1 trillion in assets under management. The fund reached this landmark on Tuesday. This achievement underscores the significant growth of ETFs and passive investing strategies, particularly the demand for low-cost exposure to the U.S. equity market. VOO, known for its low management fee of 0.03%, has overtaken competitors like BlackRock's iShares Core S&P 500 ETF ($860 billion in assets) and State Street's SPDR S&P 500 ETF (SPY) ($785 billion in assets).