DESK / POPULAR PAIRS
2026 edition
REFERENCE TABLE
Every popular ETF / index fund pair, SEC-cited
Each row below is the same index in two different wrappers, both registered investment companies under the Investment Company Act of 1940. ETF column entries operate under SEC Rule 6c-11. Expense ratios sourced from each fund's most recent N-CSR filing on SEC EDGAR.
Sources for the figures below
Every fund in the table is a registered investment company under Investment Company Act § 8 (15 U.S.C. § 80a-8) and elects regulated investment company tax status under 26 U.S.C. § 851. ETF column entries additionally operate under SEC Rule 6c-11 (17 CFR 270.6c-11). Each fund's stated expense ratio is filed semi-annually on Form N-CSR (per 17 CFR 270.30b2-1) and annually on Form 485BPOS prospectus amendment. Verify any specific fund's most recent filing on SEC EDGAR by CIK; see the methodology page for refresh cadence and the CIK ledger.
SECTION 01
S&P 500
The 500 largest US companies. The default core holding for most retail portfolios.
SECTION 02
Total US market
Roughly 3,500-4,000 stocks. Adds mid and small caps to the S&P 500 base. The Bogleheads community default (see bogleheads.org wiki).
Dow Jones US Total
iShares / Fidelity
ITOT
0.03%
0.03% vs 0.015%
FSKAX
0.015%
$0 (Fidelity)
Schwab US Broad Market
Schwab / Schwab
SCHB
0.03%
0.03% vs 0.03%
SWTSX
0.03%
$0 (Schwab)
SECTION 03
International developed
Stocks from developed markets outside the US (Europe, Japan, Australia, etc).
FTSE Global All Cap ex-US
Vanguard / Vanguard
VXUS
0.05%
0.05% vs 0.09%
VTIAX
0.09%
$3,000
MSCI ACWI ex-US IMI
iShares / Fidelity
IXUS
0.07%
0.07% vs 0.06%
FTIHX
0.06%
$0 (Fidelity)
SECTION 04
US bonds
Investment-grade US bond market. Diversification anchor in a balanced portfolio.
Bloomberg US Aggregate
Vanguard / Vanguard
BND
0.03%
0.03% vs 0.05%
VBTLX
0.05%
$3,000
Bloomberg US Aggregate
iShares / Fidelity
AGG
0.03%
0.03% vs 0.025%
FXNAX
0.025%
$0 (Fidelity)
SECTION 05
Nasdaq-100
100 largest non-financial Nasdaq companies. Tech and consumer discretionary heavy.
Nasdaq-100
Invesco / Fidelity
QQQM
0.15%
0.15% vs 0.29%
FNCMX
0.29%
$0 (Fidelity)
DESK NOTE
The pairs are interchangeable. The wrappers are not.
Within each row, you are buying the same investment exposure. The choice of wrapper affects how you transact, what minimums apply, and how taxes flow through. Pick once based on your brokerage and account type, then stop looking at the comparison and start contributing.