What is an ETF? The 10 Largest ETFs in the World and Their Contents

What is an ETF?

ETFs (Exchange-Traded Funds), or Exchange Mutual Funds, are investment vehicles that are traded on exchanges just like stocks. They usually follow an index, sector, commodity or private strategy. Thanks to the advantages of high liquidity, low cost and diversification, it is indispensable for both professional and individual investors.

We've reviewed the 10 largest ETFs in the world by managed asset sizes as of 2025 and the institutions behind them for you.

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1 ️ ⃣ Vanguard S&P 500 ETF (VOO)

Admin: The Vanguard Group
AUM: 648.5 billion dollars
Focus: S&P 500 index — The 500 largest companies in the United States
Expense Rate: 0.03%
3Y Yield: +%52.5

VOO, one of Vanguard's flagships, tracks the S&P 500 index one by one. It reflects the passive investment philosophy of the company's founder, John Bogle. Vanguard Group is the second largest asset manager in the world and is known for its “cost revolution.” VOO offers an efficient structure for long-term investors thanks to its ultra-low expense ratio. The fund passively invests in such giant companies as Apple, Microsoft, Amazon.

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2 ️ ⃣ SPDR S&P 500 ETF Trust (SPY)

Admin: State Street Global Advisors
AUM: 596.8 billion dollars
Focus: S&P 500 index
Expense Rate: 0.09%
3Y Yield: +%52.2%

SPY was launched in 1993 as the first ETF in the world. It is still unbeatable in terms of liquidity; it is often the most traded ETF in terms of daily trading volume. State Street, behind Spy, is one of the largest asset managers in the United States. SPY is ideal for more active investors and traders because it offers the possibility of instant trading in the market.

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3 ️ ⃣ iShares Core S&P 500 ETF (IVV)

Admin: BlackRock (iShares)
AUM: $576.2 billion
Focus: S&P 500
Expense Rate: 0.03%
3Y Yield: +%52.5

IVV is the largest of BlackRock's iShares series. BlackRock is the world's largest asset manager, with an asset size approaching $10 trillion. IVV offers a lower expense rate than SPY and is especially popular with corporate investors with its tax advantages. It is the strongest S&P 500 alternative along with VOO for long-term investors.

4 ️ ⃣ Invesco QQ Trust (QQQ)

Admin: Invesco
AUM: 327 billion dollars
Focus: Nasdaq-100 index
Expense Rate: %0.20
3Y Yield: +%78.4

QQQ stands out for its technology shares. It follows the Nasdaq-100, where companies such as Apple, Microsoft, Nvidia, Meta are heavily weighted. Launched in 1999, the fund is especially favored by growth-oriented technology investors. Invesco is a global asset manager based in Atlanta, and QQQ has become the company's most recognized product.

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5 ️ ⃣ SPDR Gold Trust (GLD)

Admin: State Street Global Advisors
AUM: $97.3 billion
Focus: Physical gold
Expense Rate: 0.40%
3Y Yield: +%78.8

GLD is the world's largest gold ETF that provides investors with direct exposure to its physical gold. It is correlated with the price of gold. It is often in demand during periods of inflation fears or economic uncertainty. The fund's manager, State Street, is one of the most established providers in this area.

6 ️ ⃣ iShares Russell 2000 ETF (IWM)

Admin: BlackRock (iShares)
AUM: $63.3 billion
Focus: US companies with small capital
Expense Rate: 0.19%
3Y Yield: +%18.1

IWM tracks the Russell 2000 index, offering investors the opportunity to invest in small-cap US companies. This segment has a more volatile profile while offering aggressive potential along with economic growth. This fund offered by BlackRock is remarkable for investors looking for diversity and growth.

7 ️ ⃣ iShares Bitcoin Trust (IBIT)

Admin: BlackRock
AUM: $72.7 billion
Focus: Long position on Bitcoin, short position on USD
Expense Rate: %0.25
3Y Yield: +%16.1

Representing the institutional interest coming to crypto, IBIT is a fund with direct exposure to the spot price of Bitcoin. Backed by physical BTC reserves. Being managed by BlackRock increases its credibility. It offers a powerful alternative, especially for investors who do not want to buy Bitcoin directly.

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8 ️ ⃣ ProShares UltraPro QQ (TQQQ)

Admin: ProShares
AUM: $23.5 billion
Focus: 3 times the leveraged return of the Nasdaq-100
Expense Rate: 0.84%
3Y Yield: +%146.3

TQQQ is the leveraged version of QQQ and aims to triple the daily performance of the Nasdaq-100 index. That is, it can gain 3% on a 1% rise — but in the opposite case it loses 3%. Suitable for day traders and those with a high risk appetite. ProShares is a fund manager specializing in leveraged and reverse ETFs.

9 ️ ⃣ iShares 20+ Year Treasury Bond ETF (TLT)

Admin: BlackRock (iShares)
AUM: 49.9 billion dollars
Focus: US 20+ year government bonds
Expense Rate: 0.15%
3Y Yield: -%21.2%

TLT targets investors looking for fixed income by investing in long-term American government bonds. When interest rates rise, TLT usually falls. That is why its performance in recent years has been negative. But in times of crisis, it comes to the fore with its role as a “safe harbor”.

🔟 ProShares UltraPro Short QQQ (SQQQ)

Admin: ProShares
AUM: 3.29 billion dollars
Focus: 3 times the upside of the Nasdaq-100
Expense Rate: 0.95%
3Y Yield: -%89.6

SQQQ takes a 3 times leveraged “short” position against the Nasdaq 100 index. It rises when the market falls. However, it is used only for short-term hedging and trading purposes, as the rate of write-off of losses is much higher in emerging markets.

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🛑 Disclaimer

This content is created by Investment Desk AI and does not constitute investment advice. You should make your decisions based on your own research and expert advisors.

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