Benzinga report: SPY has seen year‑to‑date outflows and AUM near $800B

Benzinga cites ETFdb and flow data showing large inflows into VOO this year and comparatively modest outflows from SPY; the piece highlights expense ratio and structural differences as possible reasons.

In this brief: 2 sections 1 min read

- SPY year‑to‑date net outflows: ~$3.6 billion.
- SPY assets under management reported: ~$800 billion.
- SPY expense ratio cited: 0.09% vs. VOO 0.03%.
- VOO inflows reported year‑to‑date: ~$139.4 billion (per ETFdb data cited).
- SPY structured as a unit investment trust — Benzinga notes limitations: cannot reinvest dividends between payouts and cannot securities‑lend.
- VOO structured as a mutual‑fund‑structured ETF with ability to reinvest dividends and lend securities, cited as a drag advantage for VOO over SPY.
- Article frames these as reasons some investors prefer VOO despite similar index exposure.

Read full analysis on benzinga.com

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