The US market is home to many of the world’s biggest companies, including AI microchip company Nvidia NVDA and tech giants Alphabet GOOG/GOOGL and Apple AAPL. Accordingly, the ETFs investing in US large-cap stocks are a key element in many investor portfolios. While it’s common for these kinds of ETFs to track the same index, there can be key differences between them, particularly in terms of fees.
Investors looking to add US large-cap exposure to their portfolio without having to pick and choose individual stocks can consider these 13 ETFs, all of which have received
What Are US Large-Cap Blend Equity Funds?
US large-cap blend portfolios are fairly representative of the overall US equity market in size, growth rates, and price. Equities in the top 70% of the capitalization of the US equity market are defined as large cap. The blend style is assigned to funds where neither growth nor value characteristics predominate. These funds invest at least 75% of their total assets in equities and invest at least 75% of equity assets in US equities.
The 13 Best US Large-Cap Blend Equity ETFs to Buy in 2026
To find the best US large-cap blend ETFs to buy, we screened for those earning a
All data is as of March 23.
- State Street SPDR S&P 500 UCITS ETF SPY5
- Vanguard S&P 500 UCITS ETF VUSD
- Amundi Core S&P 500 Swap UCITS ETF LSPU
- iShares MSCI USA UCITS ETF USD (Acc) CSUS
- UBS Core S&P 500 UCITS ETF SP5USY
- iShares Core S&P 500 UCITS ETF CSSPX
- iShares MSCI USA Screened UCITS ETF SASU
- Xtrackers S&P 500 Swap UCITS ETF XSXD
- iShares S&P 500 Swap UCITS ETF I500
- iShares MSCI USA Swap UCITS ETF MUSD
- Xtrackers MSCI USA Swap UCITS ETF XUSD
- Amundi Core MSCI USA UCITS ETF
- Xtrackers S&P 500 Swap II UCITS ETF X50U
Morningstar expects the highly rated US large-cap blend funds on this list to outperform their peers over a full market cycle. But even though all the funds on our list fall into the same category, they may practice different strategies, and therefore behave differently from each other. Investors need to do some homework to understand exactly what a particular fund invests in before buying.
Here’s a quick look at some standout picks from the best US large-cap blend ETFs. Be sure to review a fund’s complete report for more details.
State Street SPDR S&P 500 UCITS ETF
- : £25.5 billionFund Size
- : GoldMorningstar Medalist Rating
- : ★★★★Morningstar Rating
- Ongoing Charge: 0.03%
The £25.5 billion fund has climbed 13.01% over the past 12 months, outperforming the average fund in its category, which rose 10.60%. The State Street fund, which launched in March 2012, has climbed 16.64% over the past three years and gained 12.96% over the past five years.
State Street S&P 500 accurately represents the large-cap US stock market, allowing its low fee and efficient portfolio to carve out a long-term edge.
The fund holds a broad, well-diversified portfolio. It typically includes around 500 stocks, and the top 10 represented around 40% of the portfolio at year-end 2025. Still, market-cap weighting can contribute to portfolio concentration when a few stocks dominate the market. This has been the case lately with a handful of mega-cap technology stocks growing to prominence and commanding a greater share of the portfolio.
When a few richly valued companies or sectors power most of the market gains, market-cap weighting may overexpose the strategy to the fluctuations of one stock or sector. But this is not a fault in design, as it simply reflects the market’s composition. Its low turnover, low fee, and broad diversification across the US market more than offset these risks.
The S&P 500 returned 14.8% annualized over the past 10 years through year-end 2025. It holds little cash, which should help it outperform cash-saddled active peers during market rallies. Likewise, low cash drag could hurt this fund when the stock market declines, but long-term positive returns give this efficient approach a clear edge. Performance across share classes will vary owing to differences in fees and currency exchange rates for non-US investors.
Brendan McCann, associate analyst
Read Morningstar’s full report on the State Street SPDR S&P 500 UCITS ETF.
Vanguard S&P 500 UCITS ETF
- : £56.5 billionFund Size
- : GoldMorningstar Medalist Rating
- : ★★★★Morningstar Rating
- Ongoing Charge: 0.07%
The £56.5 billion fund has climbed 13.00% over the past 12 months, outperforming the average fund in its category, which rose 10.60%. The Vanguard fund, which launched in May 2012, has climbed 16.63% over the past three years and gained 12.97% over the past five years.
Vanguard S&P 500 accurately represents the large-cap US stock market, allowing its low fee and efficient portfolio to carve it a long-term edge.
The fund holds a broad, well-diversified portfolio. It typically includes around 500 stocks, and the top 10 represented around 40% of the portfolio at year-end 2025. Still, market-cap weighting can contribute to portfolio concentration when a few stocks dominate the market. This has been the case lately with a handful of mega-cap technology stocks growing to prominence and commanding a greater share of the portfolio.
When a few richly valued companies or sectors power most of the market gains, market-cap weighting may overexpose the strategy to the fluctuations of one stock or sector. But this is not a fault in design, as it simply reflects the market’s composition. The strategy’s low turnover, low fee, and broad diversification across the US market more than offset these risks.
The US exchange-traded fund share class returned 14.8% annualized over the past 10 years through year-end 2025. It holds little cash, which should help it outperform cash-saddled active peers during market rallies. Likewise, low cash drag could hurt this fund when the stock market declines, but long-term positive returns give this efficient approach a clear edge. Performance across share classes will vary owing to differences in fees and currency exchange rates for non-US investors.
Brendan McCann, associate analyst
Read Morningstar’s full report on the Vanguard S&P 500 UCITS ETF.
Amundi Core S&P 500 Swap UCITS ETF
- : £20 billionFund Size
- : GoldMorningstar Medalist Rating
- : ★★★★★Morningstar Rating
- Ongoing Charge: 0.05%
The fund’s management earns an Above Average rating from Morningstar. Parent company Amundi earns a rating of Average.
The £20 billion fund has gained 13.16% over the past 12 months, while the average fund in its category is up 10.60%. The Amundi fund, which launched in March 2010, has climbed 16.82% over the past three years and gained 13.15% over the past five years.
Amundi S&P 500 ETF offers low-cost passive exposure to US large-cap equities, an area in which active managers have struggled to demonstrate their value. This exchange-traded fund’s synthetic replication method also means it benefits from a tax-based performance advantage versus both the S&P 500 and its physically replicated peers. For these reasons, this fund represents a strong investment proposition for those seeking exposure to US equities.
The fund’s target index offers giant- to mid-cap exposure, comprising 500 names that cover around 80% of the US equity market’s free-float-adjusted market capitalization.
By only adding stocks that have had positive earnings for a year, the S&P 500 has exhibited a slight quality tilt compared with other broadly representative indexes such as MSCI USA. Constituents are determined by an index committee, which gives the index a greater degree of flexibility than its peers that follow more mechanical rules.
This has also resulted in some controversial outcomes, including the delay in the addition of large tech players such as Tesla.
The US equity markets are widely considered to be some of the most liquid and efficient on earth, rapidly absorbing market information and severely limiting active managers’ ability to add value. Morningstar research has shown that net active decisions have tended to hurt returns over time.
This competitively priced fund is among the most cost-effective S&P 500 trackers available.
When it comes to investing in US equities, fund domicile and replication method are crucial because they dictate how much withholding tax an investor must pay.
For example, this fund is synthetically replicated and therefore pays 0% withholding tax, which is less than that borne by both its physically replicated peers and by the S&P 500. For this reason, this fund holds a durable performance advantage over many of its peers and regularly outperforms its index after fees. A synthetic approach to replication also introduces some counterparty risk, which must be weighed against the clear performance benefits of the structure.
This fund’s long-term risk-adjusted returns have ranked in the top quartile of its peer group, which includes both active and passive options.
The fund is managed by Amundi, whose long-tenured and resourced portfolio management team earn a People Pillar rating of Above Average.
In sum, this fund delivers ultralow-cost representative beta exposure to a market where passive approaches have performed so well that they have become the default option.
Madeleine Black, associate analyst
Read Morningstar’s full report on the Amundi Core S&P 500 Swap UCITS ETF.
iShares Core S&P 500 UCITS ETF
- : £98.1 billionFund Size
- : GoldMorningstar Medalist Rating
- : ★★★★Morningstar Rating
- Ongoing Charge: 0.07%
Over the past 12 months, the iShares fund rose 13.00%, while the average fund in its category rose 10.60%. The fund, which launched in May 2010, has climbed 16.64% over the past three years and gained 12.97% over the past five years.
IShares S&P 500 accurately represents the large-cap US stock market, allowing its low fee and efficient portfolio to carve out a long-term edge.
The fund holds a broad, well-diversified portfolio. It typically includes around 500 stocks, and the top 10 represented around 40% of the portfolio at year-end 2025. Still, market-cap weighting can contribute to portfolio concentration when a few stocks dominate the market. This has been the case lately with a handful of mega-cap technology stocks growing to prominence and commanding a greater share of the portfolio.
When a few richly valued companies or sectors power most of the market gains, market-cap weighting may overexpose the strategy to the fluctuations of one stock or sector. But this is not a fault in design, as it simply reflects the market’s composition. Its low turnover, low fee, and broad diversification across the US market more than offset these risks.
The US exchange-traded fund returned 14.8% annualized over the past 10 years through year-end 2025. It holds little cash, which should help it outperform cash-saddled active peers during market rallies. Likewise, low cash drag could hurt this fund when the stock market declines, but long-term positive returns give this efficient approach a clear edge. Performance across share classes will vary on account of differences in fees and currency exchange rates for non-US investors.
Brendan McCann, associate analyst
Read Morningstar’s full report on the iShares VII PLC - iShares Core S&P 500 UCITS ETF.
iShares MSCI USA Screened UCITS ETF
- : £13.3 billionFund Size
- : GoldMorningstar Medalist Rating
- : ★★★★Morningstar Rating
- Ongoing Charge: 0.07%
The fund’s management earns an Above Average rating from Morningstar. Parent company iShares earns a rating of Above Average.
Over the past 12 months, the iShares fund rose 12.99%, while the average fund in its category rose 10.60%. The fund, which launched in October 2018, has climbed 17.43% over the past three years and gained 12.90% over the past five years.
IShares MSCI USA Screened ETF offers a screened portfolio of stocks from the wider MSCI USA Index. This fund’s low fee, broad representation, and market-cap-weighted approach make it a standout option for investors seeking exposure to US large-cap equities.
The exchange-traded fund, reflecting the MSCI USA Screened Index, provides access to approximately 550 large- to mid-cap US equities. The index uses MSCI Business-Involvement Screening Research to methodically exclude companies associated with contentious sectors like nuclear weapons, tobacco, and thermal coal. It also excludes companies that do not meet the outlined minimum MSCI ESG Controversy scores and aims to reduce the carbon emission intensity relative to MSCI USA by at least 30%.
However, this exclusion process omits only roughly 50-60 companies, or about 10% of the parent index’s market cap, making the screen less stringent compared with its sister MSCI Selection and SRI strategies, which apply more substantial environmental, social, and governance exclusions. Hence, while the index does offer an ESG enhancement, it may not meet the expectations of investors seeking a more pronounced ESG commitment.
What sets this fund apart is its low ongoing charge. Not only is this one of the lowest fees within the ESG segment of its Morningstar Category, but it’s competitive with traditional US equity index funds. Balancing these aspects, iShares MSCI USA Screened ETF emerges as a compelling option for investors desiring exposure to the US large- and mid-cap equity market with a subtle ESG lens.
When it comes to investing in US equities, fund domicile and replication method are crucial because they dictate how much withholding tax an investor must pay.
For example, this fund is domiciled in Ireland and therefore pays 15% rather than the 30% withholding tax assumed by the index. For this reason, this fund regularly outperforms its index. That said, this fund is at a performance disadvantage versus synthetically replicated peers, which pay no withholding tax.
The fund is managed by iShares; its industry-leading technology, global footprint, and extensive supporting cast earn an Above Average People Pillar rating.
Madeleine Black, associate analyst
Read Morningstar’s full report on the iShares MSCI USA Screened UCITS ETF.
