Vanguard Overthrows State Street for World’s Biggest ETF Crown

Vanguard has unseated State Street for the title of the world’s biggest exchange-traded fund, ushering in a new world order for the $11 trillion industry.

The Vanguard S&P 500 ETF (ticker VOO) now commands nearly $632 billion in assets after raking in some $23 billion so far in 2025, according to data compiled by Bloomberg. That haul has vaulted VOO past the $630 billion SPDR S&P 500 ETF Trust, known as SPY, which previously held the title of largest ETF.

It’s a changing of the guard several years in the making. Created in 1993 as the brain child ...