Cheapest ETFs by Expense Ratio (2026)
Which funds charge the least, and whether the cheapest is worth choosing — 85 funds ranked on cost, yield, return, risk and ETFValuer's overall grade.
Updated July 25, 2026
Every figure on this page is recalculated from market data each day, so the ranking reflects current conditions rather than whenever this page was written. Educational content — not financial advice.
Top Picks Right Now
#3
VEA
Vanguard FTSE Developed Markets Index Fund ETF Shares
B+
80.0/100
- scores 80.0 on the overall model (grade B+)
Ranked by expense ratio. Recalculated every day from live market data — these positions change as the underlying numbers move.
At a Glance
Each superlative is measured within this group of 85 funds, not across the whole market.
All 85 Funds Ranked
| Fund | Category | Cost | Yield | 1Y | 3Y | Volatility | Max DD | Sharpe | AUM | Score | Grade |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 VTVVanguard Value Index Fund ETF Shares | US Large Cap Value | 0.03% | 1.38% | +25.0% | +61.1% | 10.3% | -14.5% | 1.94 | $254.5B | 86.5 | A |
| 2 SCHFSchwab International Equity ETF | International Developed | 0.03% | 3.06% | +23.3% | +61.5% | 17.2% | -13.4% | 1.07 | $66.2B | 80.4 | B+ |
| 3 VEAVanguard FTSE Developed Markets Index Fund ETF Shares | International Developed | 0.03% | 2.54% | +22.6% | +60.7% | 17.0% | -13.4% | 1.03 | $316.3B | 80.0 | B+ |
| 4 SPDWState Street SPDR Portfolio Developed World ex-US ETF | International Developed | 0.03% | 3.02% | +22.6% | +61.1% | 16.9% | -13.5% | 1.04 | $40.3B | 78.7 | B+ |
| 5 VOOVanguard S&P 500 ETF | US Large Cap Blend | 0.03% | 0.80% | +17.9% | +67.9% | 12.6% | -18.7% | 1.02 | $1.67T | 76.0 | B+ |
| 6 IVViShares Core S&P 500 ETF | US Large Cap Blend | 0.03% | 0.77% | +17.9% | +68.0% | 12.7% | -18.8% | 1.01 | $888.1B | 75.6 | B+ |
| 7 VTIVanguard Total Stock Market Index Fund ETF Shares | US Large Cap Blend | 0.03% | 0.77% | +18.1% | +66.2% | 12.9% | -19.3% | 1.02 | $2.30T | 75.1 | B+ |
| 8 ITOTiShares Core S&P Total U.S. Stock Market ETF | US Large Cap Blend | 0.03% | 0.77% | +18.0% | +66.1% | 12.9% | -19.4% | 1.00 | $94.1B | 74.0 | B |
| 9 VVVanguard Large Cap Index Fund | US Large Cap Blend | 0.03% | 0.77% | +17.5% | +68.5% | 12.8% | -19.0% | 0.97 | $73.8B | 73.7 | B |
| 10 SCHBSchwab U.S. Broad Market ETF | US Large Cap Blend | 0.03% | 1.04% | +18.0% | +66.2% | 12.9% | -19.3% | 1.01 | $43.2B | 73.2 | B |
| 11 SCHXSchwab U.S. Large-Cap ETF | US Large Cap Blend | 0.03% | 1.03% | +17.2% | +67.3% | 12.8% | -19.0% | 0.96 | $71.6B | 72.9 | B |
| 12 SPTMState Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | US Large Cap Blend | 0.03% | 1.04% | +18.2% | +65.9% | 12.6% | -18.9% | 1.05 | $13.6B | 72.8 | B |
| 13 SCHASchwab U.S. Small-Cap ETF | US Small Cap | 0.03% | 0.99% | +29.4% | +53.5% | 19.1% | -27.3% | 1.28 | $24.2B | 72.0 | B |
| 14 SPSMState Street SPDR Portfolio S&P 600 Small Cap ETF | US Small Cap | 0.03% | 1.36% | +28.7% | +44.6% | 17.3% | -27.9% | 1.37 | $16.9B | 70.2 | B |
| 15 VBVanguard Small-Cap Index Fund ETF Shares | US Small Cap | 0.03% | 0.87% | +21.0% | +47.7% | 16.4% | -25.4% | 0.97 | $188.6B | 69.0 | B |
| 16 SCHMSchwab U.S. Mid-Cap ETF | US Mid Cap | 0.03% | 1.20% | +21.9% | +48.2% | 16.5% | -23.3% | 1.02 | $15.3B | 68.1 | B |
| 17 ILCBiShares Morningstar U.S. Equity ETF | US Large Cap Blend | 0.03% | 0.99% | +17.6% | +68.2% | 12.8% | -19.1% | 0.99 | $1.3B | 67.5 | B |
| 18 VOVanguard Mid-Cap Index Fund ETF Shares | US Mid Cap | 0.03% | 3.73% | +13.6% | +48.2% | 12.6% | -19.0% | 0.68 | $224.0B | 66.3 | B |
| 19 SPMDState Street SPDR Portfolio S&P 400 Mid Cap ETF | US Mid Cap | 0.03% | 1.20% | +19.2% | +45.0% | 15.7% | -24.1% | 0.90 | $18.4B | 64.0 | C |
| 20 VTEBVanguard Tax-Exempt Bond Index Fund ETF Shares | Municipal Bonds | 0.03% | 3.34% | +5.7% | +9.0% | 2.8% | -5.5% | 0.26 | $48.8B | 63.7 | C |
| 21 VUGVanguard Growth Index Fund ETF Shares | US Large Cap Growth | 0.03% | 1.84% | +11.7% | +73.9% | 17.5% | -22.9% | 0.38 | $379.2B | 62.5 | C |
| 22 VCITVanguard Intermediate-Term Corporate Bond Index Fund ETF Shares | US Bonds - Corporate | 0.03% | 4.78% | +3.2% | +17.5% | 4.1% | -6.0% | -0.45 | $69.4B | 60.1 | C |
| 23 VCSHVanguard Short-Term Corporate Bond Index Fund ETF Shares | US Bonds - Corporate | 0.03% | 4.44% | +3.4% | +16.8% | 1.9% | -1.4% | -0.81 | $51.8B | 60.0 | C |
| 24 VTIPVanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares | US Bonds - TIPS | 0.03% | 3.60% | +3.3% | +15.8% | 1.6% | -1.0% | -1.08 | $71.1B | 60.0 | C |
| 25 VMBSVanguard Mortgage-Backed Securities Index Fund ETF Shares | Mortgage-Backed | 0.03% | 4.17% | +4.8% | +13.8% | 4.3% | -7.2% | -0.05 | $17.3B | 59.8 | C |
| 26 AGGiShares Core U.S. Aggregate Bond ETF | US Bonds - Broad | 0.03% | 2.55% | +3.1% | +11.7% | 3.8% | -5.7% | -0.50 | $138.8B | 59.4 | C |
| 27 BNDVanguard Total Bond Market Index Fund | US Bonds - Broad | 0.03% | 3.95% | +3.0% | +11.6% | 3.7% | -5.6% | -0.54 | $397.9B | 59.2 | C |
| 28 STIPiShares 0-5 Year TIPS Bond ETF | US Bonds - TIPS | 0.03% | 4.32% | +3.3% | +15.8% | 1.5% | -0.9% | -1.12 | $15.9B | 57.5 | C |
| 29 VGITVanguard Intermediate-Term Treasury Index Fund ETF Shares | US Bonds - Government | 0.03% | 3.85% | +2.1% | +11.2% | 3.4% | -4.3% | -0.86 | $50.4B | 57.2 | C |
| 30 VGSHVanguard Short-Term Treasury Index Fund ETF Shares | US Bonds - Government | 0.03% | 3.87% | +2.9% | +13.2% | 1.3% | -1.0% | -1.58 | $33.8B | 56.9 | C |
| 31 SCHPSchwab U.S. TIPS ETF | US Bonds - TIPS | 0.03% | 4.00% | +2.7% | +11.4% | 3.3% | -4.3% | -0.70 | $16.5B | 56.3 | C |
| 32 SPABState Street SPDR Portfolio Aggregate Bond ETF | US Bonds - Broad | 0.03% | 4.03% | +3.1% | +11.7% | 3.7% | -5.7% | -0.51 | $9.6B | 55.6 | C |
| 33 SCHZSchwab U.S. Aggregate Bond ETF | US Bonds - Broad | 0.03% | 4.10% | +3.0% | +11.6% | 3.7% | -5.8% | -0.52 | $10.6B | 55.5 | C |
| 34 SCHOSchwab Short-Term U.S. Treasury ETF | US Bonds - Government | 0.03% | 3.90% | +2.9% | +13.2% | 1.4% | -1.0% | -1.48 | $13.0B | 55.4 | C |
| 35 SCHRSchwab Intermediate-Term U.S. Treasury ETF | US Bonds - Government | 0.03% | 3.90% | +2.1% | +11.2% | 3.4% | -4.3% | -0.83 | $13.4B | 55.1 | C |
| 36 SPTIState Street SPDR Portfolio Intermediate Term Treasury ETF | US Bonds - Government | 0.03% | 3.85% | +2.1% | +11.2% | 3.4% | -4.3% | -0.85 | $10.2B | 54.6 | C |
| 37 SPTSState Street SPDR Portfolio Short Term Treasury ETF | US Bonds - Government | 0.03% | 3.90% | +3.0% | +13.3% | 1.3% | -1.0% | -1.52 | $5.9B | 54.3 | C |
| 38 XHLFBondbloxx Bloomberg Six Month Target Duration US Treasury ETF | Ultra-Short / Cash | 0.03% | 3.84% | +3.8% | +14.2% | 0.3% | -0.1% | -3.75 | $1.9B | 53.1 | C |
| 39 VCLTVanguard Long-Term Corporate Bond Index Fund ETF Shares | US Bonds - Corporate | 0.03% | 5.52% | +1.8% | +8.5% | 7.8% | -12.5% | -0.41 | $10.1B | 53.0 | C |
| 40 VTCVanguard Total Corporate Bond ETF ETF Shares | US Bonds - Corporate | 0.03% | 4.91% | +2.8% | +14.2% | 4.3% | -6.2% | -0.50 | $1.8B | 52.7 | C |
| 41 VGLTVanguard Long-Term Treasury Index Fund ETF Shares | US Bonds - Government | 0.03% | 4.56% | +1.7% | -2.3% | 8.5% | -16.2% | -0.39 | $15.2B | 51.2 | C |
| 42 SPTLState Street SPDR Portfolio Long Term Treasury ETF | US Bonds - Government | 0.03% | 4.17% | +1.7% | -2.2% | 8.5% | -16.1% | -0.39 | $10.5B | 50.7 | C |
| 43 SCHQSchwab Long-Term U.S. Treasury ETF | US Bonds - Government | 0.03% | 4.73% | +1.7% | -2.3% | 8.5% | -16.1% | -0.39 | $759M | 46.5 | D |
| 44 VYMVanguard High Dividend Yield Index Fund ETF Shares | Dividend Income | 0.04% | 2.30% | +21.7% | +59.9% | 10.2% | -14.5% | 1.63 | $96.2B | 83.9 | B+ |
| 45 SCHVSchwab U.S. Large-Cap Value ETF | US Large Cap Value | 0.04% | 1.75% | +23.0% | +58.2% | 11.2% | -15.3% | 1.60 | $15.9B | 80.8 | B+ |
| 46 VIGVanguard Dividend Appreciation Index Fund ETF Shares | Dividend Income | 0.04% | 1.51% | +16.4% | +51.4% | 10.0% | -14.9% | 1.14 | $129.5B | 76.9 | B+ |
| 47 SPYVState Street SPDR Portfolio S&P 500 Value ETF | US Large Cap Value | 0.04% | 1.35% | +17.5% | +47.1% | 9.9% | -17.5% | 1.26 | $35.3B | 74.0 | B |
| 48 IUSViShares Core S&P U.S. Value ETF | US Large Cap Value | 0.04% | 1.30% | +17.6% | +46.8% | 10.1% | -17.8% | 1.25 | $26.5B | 73.2 | B |
| 49 IDEViShares Core MSCI International Developed Markets ETF | International Developed | 0.04% | 3.23% | +18.1% | +55.6% | 15.1% | -13.4% | 0.87 | $30.6B | 72.3 | B |
| 50 SPYGState Street SPDR Portfolio S&P 500 Growth ETF | US Large Cap Growth | 0.04% | 0.40% | +18.1% | +86.7% | 17.7% | -22.1% | 0.74 | $53.0B | 67.7 | B |
| 51 IUSGiShares Core S&P U.S. Growth ETF | US Large Cap Growth | 0.04% | 0.48% | +18.3% | +84.2% | 17.4% | -22.3% | 0.76 | $32.2B | 67.3 | B |
| 52 SCHGSchwab U.S. Large-Cap Growth ETF | US Large Cap Growth | 0.04% | 0.39% | +12.2% | +74.8% | 16.5% | -23.4% | 0.44 | $59.1B | 62.1 | C |
| 53 MBBiShares MBS ETF | Mortgage-Backed | 0.04% | 4.26% | +4.5% | +13.1% | 4.4% | -7.2% | -0.11 | $39.6B | 60.3 | C |
| 54 IGSBiShares 1-5 Year Investment Grade Corporate Bond ETF | US Bonds - Corporate | 0.04% | 4.57% | +3.5% | +17.3% | 2.0% | -1.5% | -0.75 | $22.3B | 58.8 | C |
| 55 IGIBiShares 5-10 Year Investment Grade Corporate Bond ETF | US Bonds - Corporate | 0.04% | 4.79% | +3.3% | +18.1% | 4.1% | -5.9% | -0.42 | $18.5B | 58.1 | C |
| 56 SPMBState Street SPDR Portfolio Mortgage Backed Bond ETF | Mortgage-Backed | 0.04% | 4.07% | +4.6% | +12.9% | 4.2% | -7.3% | -0.09 | $7.1B | 57.7 | C |
| 57 USIGiShares Broad USD Investment Grade Corporate Bond ETF | US Bonds - Corporate | 0.04% | 4.72% | +3.0% | +15.1% | 4.1% | -5.9% | -0.49 | $17.6B | 57.1 | C |
| 58 MGVVanguard Mega Cap Value Index Fund | US Large Cap Value | 0.05% | 1.86% | +25.7% | +63.7% | 10.2% | -13.2% | 2.04 | $13.3B | 84.8 | B+ |
| 59 VOEVanguard Mid-Cap Value Index Fund ETF Shares | US Mid Cap | 0.05% | 1.88% | +22.8% | +52.5% | 11.4% | -18.4% | 1.56 | $37.2B | 78.6 | B+ |
| 60 VXUSVanguard Total International Stock Index Fund ETF Shares | Global Multi-Region | 0.05% | 2.56% | +20.8% | +56.9% | 16.7% | -13.6% | 0.95 | $650.3B | 76.5 | B+ |
| 61 VBRVanguard Small-Cap Value Index Fund ETF Shares | US Small Cap | 0.05% | 1.29% | +21.7% | +49.2% | 14.9% | -24.2% | 1.12 | $67.8B | 71.6 | B |
| 62 IJHiShares Core S&P Mid-Cap ETF | US Mid Cap | 0.05% | 3.72% | +19.2% | +44.9% | 15.7% | -24.1% | 0.90 | $124.3B | 66.5 | B |
| 63 MUBiShares National Muni Bond ETF | Municipal Bonds | 0.05% | 3.16% | +5.2% | +8.6% | 3.0% | -5.2% | 0.08 | $45.8B | 62.5 | C |
| 64 SPHYState Street SPDR Portfolio High Yield Bond ETF | US Bonds - Corporate | 0.05% | 7.24% | +4.9% | +26.3% | 3.7% | -4.8% | -0.03 | $11.3B | 61.5 | C |
| 65 MGKVanguard Mega Cap Growth Index Fund | US Large Cap Growth | 0.05% | 0.33% | +13.1% | +76.9% | 18.0% | -23.4% | 0.45 | $33.3B | 61.3 | C |
| 66 VBKVanguard Small-Cap Growth Index Fund ETF Shares | US Small Cap | 0.05% | 0.34% | +19.9% | +45.2% | 20.2% | -27.5% | 0.74 | $47.0B | 61.1 | C |
| 67 GOVTiShares U.S. Treasury Bond ETF | US Bonds - Government | 0.05% | 3.57% | +2.3% | +9.0% | 3.6% | -4.9% | -0.76 | $43.7B | 56.7 | C |
| 68 BNDWVanguard Total World Bond ETF | US Bonds - Broad | 0.05% | 4.19% | +2.3% | +12.1% | 3.4% | -4.1% | -0.80 | $1.9B | 52.3 | C |
| 69 VOTVanguard Mid-Cap Growth Index Fund ETF Shares | US Mid Cap | 0.05% | 0.59% | +1.4% | +40.3% | 17.1% | -21.8% | -0.21 | $34.8B | 50.6 | C |
| 70 EDVVanguard Extended Duration Treasury Index Fund ETF Shares | US Bonds - Government | 0.05% | 4.91% | -0.3% | -16.0% | 14.0% | -24.6% | -0.38 | $4.2B | 42.1 | D |
| 71 VONVVanguard Russell 1000 Value Index Fund ETF Shares | US Large Cap Value | 0.06% | 1.62% | +26.9% | +61.2% | 11.3% | -15.7% | 1.93 | $21.5B | 83.4 | B+ |
| 72 SCHDSchwab U.S. Dividend Equity ETF | Dividend Income | 0.06% | 3.30% | +26.1% | +47.4% | 11.1% | -16.1% | 1.90 | $95.7B | 83.3 | B+ |
| 73 VTVanguard Total World Stock Index Fund ETF Shares | Global Multi-Region | 0.06% | 1.58% | +18.8% | +62.4% | 13.8% | -16.5% | 1.00 | $96.8B | 76.2 | B+ |
| 74 IJRiShares Core S&P Small-Cap ETF | US Small Cap | 0.06% | 0.87% | +28.6% | +44.5% | 17.4% | -28.0% | 1.36 | $111.3B | 72.5 | B |
| 75 VTWOVanguard Russell 2000 Index Fund ETF Shares | US Small Cap | 0.06% | 1.08% | +30.0% | +52.6% | 19.3% | -27.6% | 1.30 | $18.6B | 71.1 | B |
| 76 VONEVanguard Russell 1000 Index Fund ETF Shares | US Large Cap Blend | 0.06% | 1.02% | +17.3% | +66.4% | 12.7% | -19.1% | 0.97 | $11.5B | 69.8 | B |
| 77 VTHRVanguard Russell 3000 Index Fund ETF Shares | US Large Cap Blend | 0.06% | 1.03% | +17.8% | +65.5% | 12.9% | -19.4% | 0.99 | $6.1B | 68.9 | B |
| 78 VGKVanguard FTSE Europe ETF | International Developed | 0.06% | 2.03% | +14.5% | +53.1% | 15.9% | -14.3% | 0.60 | $37.9B | 67.4 | B |
| 79 VWOVanguard Emerging Markets Stock Index Fund | Emerging Markets | 0.06% | 1.93% | +15.8% | +47.0% | 17.4% | -17.4% | 0.62 | $163.3B | 65.5 | B |
| 80 SCHESchwab Emerging Markets Equity ETF | Emerging Markets | 0.06% | 2.66% | +16.3% | +48.8% | 17.8% | -17.1% | 0.64 | $12.5B | 62.9 | C |
| 81 SCHCSchwab International Small-Cap Equity ETF | International Developed | 0.06% | 3.51% | +13.3% | +50.0% | 16.4% | -15.3% | 0.51 | $5.3B | 61.9 | C |
| 82 VSSVanguard FTSE All-World ex-US Small-Cap Index Fund ETF Shares | International Developed | 0.06% | 3.23% | +12.6% | +42.9% | 16.1% | -15.7% | 0.47 | $13.8B | 61.3 | C |
| 83 VONGVanguard Russell 1000 Growth Index Fund ETF Shares | US Large Cap Growth | 0.06% | 0.45% | +8.4% | +68.4% | 17.1% | -23.3% | 0.20 | $53.4B | 59.7 | C |
| 84 IUSBiShares Core Universal USD Bond ETF | US Bonds - Broad | 0.06% | 4.21% | +3.3% | +13.3% | 3.6% | -5.5% | -0.48 | $42.8B | 58.7 | C |
| 85 SLQDiShares 0-5 Year Investment Grade Corporate Bond ETF | US Bonds - Corporate | 0.06% | 4.31% | +3.6% | +16.4% | 1.5% | -1.1% | -0.92 | $2.4B | 54.6 | C |
Note: this table spans multiple asset classes, so the score column compares funds doing different jobs. Compare within a category before comparing across the table. Max DD is the deepest peak-to-trough fall over the measurement window. Sharpe ratio measures return per unit of volatility — higher is better. Every figure is recalculated daily.
What Makes a Good Fund Here
Fee is the one predictor of future returns that is known in advance, which is why it deserves the weight it gets. But the cheapest fund in the market is only the right choice if it holds what you actually want — cost is a tiebreaker between suitable funds, not a way to choose one.
The ETFValuer score blends trailing return, risk-adjusted return, expense ratio, maximum drawdown, fund size and volatility, each percentile-ranked against the full tracked universe, into a single 0-100 figure graded A+ to F. It is a systematic summary of past data, not a forecast — read it alongside the individual columns rather than instead of them.
Head-to-Head Comparisons
Full metric-by-metric breakdowns for the closest calls in this group.
Frequently Asked Questions
What is the cheapest ETF?
VTV currently has the lowest expense ratio of the 85 funds tracked at 0.03%. Several others charge within a basis point or two, at which point the difference is negligible.
How much does a low expense ratio actually save?
On a $10,000 position, the gap between a 0.03% fund and a 0.50% fund is about $47 in the first year — but because the saving compounds along with the investment, it grows to a far larger figure over decades. The ETF Fee Calculator shows the exact impact for your amount and horizon.
Compare any of these funds directly
Side-by-side metrics, holdings overlap and return correlation for any pair.