It’s well known that index funds often perform better than more, ahem, actively managed investments. But which index fund is the most index-y of all? SPY only covers the S&P 500, which is only the 500 largest common stock companies in the US. In addition, possibly because it’s the most well known, its expense ratio is slightly higher than IVV and VOO.
The iShares Russell 3000 ETF (IWV) covers 3000 stocks with an expense ratio of 0.20%, and the Vanguard Total Stock Market ETF (VTI) covers 3796 stocks with an expense ratio of 0.05%. If you’re looking for the largest number with the smallest ratio, you could do far worse than the VTI.