The SPDR S&P 500 ETF Trust (SPY) remains the market’s most-traded fund, but its high share price and heavy flows often leave investors looking for cheaper ways to gain exposure to the S&P 500 Index (SPX). In 2026, two lower‑cost ETFs, the State Street SPDR Portfolio S&P 500 ETF (SPYM) and the Vanguard S&P 500 Growth ETF (VOOG), both tied to strong market trends, are showing over 15% upside potential.
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1. State Street SPDR Portfolio S&P 500 ETF (SPYM)
SPYM is State Street’s low‑cost version of an S&P 500 index fund. It tracks the same benchmark as the SPY ETF, the S&P 500 Index. SPYM is built for long‑term investors who want broad U.S. stock exposure with very low fees. The ETF has solid upside potential as growth in tech, industrials, and consumer services continues to lift the index.
Top holdings in the SPYM ETF include Nvidia (NVDA), Apple (AAPL), and Microsoft (MSFT). Overall, the ETF has $148.48 billion in assets under management (AUM) and an expense ratio of 0.02%.
On TipRanks, SPYM has a Strong Buy consensus rating based on 422 Buys, 74 Holds, and eight Sells assigned in the last three months. At $103.21, the average SPYM ETF price target implies 16.26% upside potential.
2. Vanguard S&P 500 Growth ETF (VOOG)
VOOG is Vanguard’s low-cost way to invest in the growth half of the S&P 500. Instead of owning all 500 companies, VOOG focuses only on the names with faster earnings growth, higher valuations, and stronger long‑term expansion trends. Its lower share price and low fees make it an easy, budget-friendly way to invest in the market’s fastest‑moving growth names.
Overall, the ETF has $26.82 billion in AUM and an expense ratio of 0.07%.
Turning to Wall Street, VOOG has a Strong Buy consensus rating based on 135 Buys and eight Holds assigned in the last three months. At $101.39, the average VOOG ETF price target implies 20.52% upside potential.
Bottom Line
Both SPYM and VOOG offer cheaper, higher‑upside alternatives to SPY, which has an expense ratio of 0.09%. With analysts seeing more than 15% upside in both funds, SPYM gives investors a low‑cost SPY alternative, while VOOG adds a higher‑growth tilt, making each a strong pick for anyone looking past SPY’s premium price.