VOO vs CSPX: Which S&P 500 ETF Is Right for You?
Both VOO and CSPX track the S&P 500 index, but they differ in domicile, dividend policy, tax treatment, and estate tax exposure. VOO is a US-domiciled distributing ETF with an ultra-low 0.03% TER. CSPX is an Ireland-domiciled UCITS accumulating ETF with a 0.07% TER. The choice between them depends primarily on your tax residency and estate planning considerations.
Key Differences
- VOO distributes dividends quarterly (taxable event); CSPX accumulates (reinvests internally)
- US estate tax risk: VOO exposes non-US investors to up to 40% estate tax above $60K; CSPX avoids this entirely
- Withholding tax: VOO has 15% on dividends (with W-8BEN); CSPX has 15% embedded in the fund (invisible to investor)
- VOO has higher liquidity and tighter spreads than CSPX
- CSPX is generally preferred by non-US investors for long-term accumulation due to tax efficiency and estate tax avoidance
Live Comparison
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Bottom Line
For US residents: VOO wins on cost and simplicity. For non-US investors: CSPX is generally the better choice due to estate tax avoidance and automatic dividend reinvestment. The 0.04% TER difference is negligible compared to the structural advantages.
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Disclaimer: This comparison is for informational and educational purposes only. It does not constitute investment advice. Past performance does not guarantee future results. ETF data is sourced from Yahoo Finance and issuer websites. Always verify current data before making investment decisions.