The State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM 0.03%) and the iShares Core S&P Total U.S. Stock Market ETF (ITOT 0.07%) 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 (NVDA 0.93%) at 7.0%, Apple (AAPL 0.43%) at 6.3%, and Microsoft (MSFT 2.37%) 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.
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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.
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.
