Like the S&P 500, the ETF uses a market-weighted strategy, giving a higher weighting to the largest companies. Its top 10 holdings made up over 35% of its total net assets in late 2025, giving investors relatively concentrated exposure to the largest companies in the index.
The ETF offers investors exposure to the largest U.S. stocks for a very low cost. Its expense ratio of 0.03% is significantly less than the 0.22% average expense ratio of similar funds. Investors would only pay $0.30 in annual management fees per $1,000 invested in the ETF, compared to $2.20 per year for every $1,000 invested in the average fund.