Key Points
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The iShares Core S&P Total U.S. Stock Market ETF (ITOT) and the State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) both offer broad U.S. market exposure with a 0.03% expense ratio.
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Both funds offer similar risk-return profiles.
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Both funds feature a 37% concentration in the technology sector and count Nvidia and Apple as their largest two positions.
The State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (NYSEMKT:SPTM) and the iShares Core S&P Total U.S. Stock Market ETF (NYSEMKT:ITOT) offer nearly identical low-cost exposure to the broad U.S. equity market, with similar risk-return profiles.
Investors seeking a “buy everything” approach often gravitate toward total market funds like these. Both ETFs aim to capture the performance of the entire domestic stock landscape — ranging from massive tech giants to smaller industrial firms — providing a core foundation for long-term portfolios. These funds are designed for investors who prefer a hands-off strategy while maintaining exposure to thousands of American businesses.
Snapshot (cost & size)
|
Metric |
SPTM |
ITOT |
|---|---|---|
|
Issuer |
State Street |
iShares |
|
Expense ratio |
0.03% |
0.03% |
|
1-year return (as of June 23, 2026) |
23.96% |
24.25% |
|
Dividend yield |
1.04% |
0.98% |
|
Beta |
1.01 |
1.04 |
|
AUM |
$13.6 billion |
$93.4 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-year return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
Both funds charge identical fees, with a low 0.03% expense ratio. And while the funds’ dividend yields are very similar — around 1% — minor differences in index construction lead to small variations in the actual payouts.
Performance & risk comparison
|
Metric |
SPTM |
ITOT |
|---|---|---|
|
Max drawdown (5 yr) |
(24.15%) |
(25.35%) |
|
Growth of $1,000 over 5 years (total return) |
$1,819 |
$1,756 |
What’s inside
Launched in 2004, ITOT is designed to replicate the S&P Total Market Index — a comprehensive benchmark of American equities — and holds about 2,500 stocks. Its sector allocation is led by technology at 37.2%, followed by financial services at 11.4%, and consumer cyclical at 9.8%. Its largest individual positions include Nvidia (NASDAQ:NVDA) at 7.0%, Apple (NASDAQ:AAPL) at 6.3%, and Microsoft (NASDAQ:MSFT) at 4.6%.
SPTM tracks the S&P Composite 1500 Index, and therefore holds roughly 1,500 stocks. It mirrors the sector tilt of its peer, with technology at 37.4%, financial services at 11.4%, and consumer cyclical at 10.1%. Its top holdings are also the same as ITOT’s — with Nvidia at 7.3%, Apple at 6.5%, and Microsoft at 4.8%. The fund was launched in 2000.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
On paper, ITOT and SPTM are about as close to twins as you’ll find in the ETF world. They charge the same rock-bottom fee, lean heavily on the same mega-cap tech names, and provide exposure to the same broad slice of the American economy. For the long-term, hands-off investor, either fund can serve as a perfectly capable core holding.
That said, there’s one important difference worth understanding. ITOT — the iShares offering — casts a wider net. While SPTM tracks the S&P Composite 1500, a well-known index representing large-, mid-, and small-cap stocks, ITOT aims to cover the full investable U.S. equity market, which includes several thousand individual companies. This means ITOT offers slightly deeper exposure to smaller-cap businesses. And that difference in breadth shows up in the funds’ five-year return figures, with SPTM having a slight edge — a gap that reflects the broader story of small-cap underperformance over that period.
There’s no bad choice here. Both funds deliver exactly what they promise — cheap, broad, diversified U.S. market exposure — and either one would make a sensible foundation for a long-term portfolio.
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Andy Gould has positions in Apple and Nvidia and has the following options: long January 2027 $125 calls on Nvidia and short January 2027 $125 puts on Nvidia. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.