The 5 Best S&P 500 Index Funds That Will Make You Rich:

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What is an index fund?

Index funds come in the form of either mutual funds or exchange-traded funds (ETFs) that are based on a basket of stocks, or index.

The S&P 500 is an index that measures the stock performance of 500 large companies listed on stock exchanges in the US.

Why are S&P 500 Index funds so important?

1. They have very low fees.
2. In the long-term, it will make you more money than picking stocks.
3. You get diversification.
4. It's damn easy to invest in.

1. Vanguard S&P 500 ETF (VOO)

The Vanguard S&P 500 tracks the S&P 500 index, and it’s one of the largest funds on the market with hundreds of billions in the fund.

Cost: 0.03% Expense Ratio

2. SPDR S&P 500 ETF Trust (SPY)

The fund is sponsored by State Street Global Advisors - another heavyweight in the industry and it tracks the S&P 500. It is one of the most famous funds.

Cost: 0.09% Expense Ratio

3. Charles Schwab SP500 Fund (SWPPX)

A fund that manages tens of billions in assets since 1997. and it ALSO follows the SP500.

Cost: 0.02% Expense Ratio

4. Fidelity Total Stock Market Fund (FZROX )

Unlike Vanguard, which has a 0.03% expense ratio, this one has no expense ratio. It’s totally free.

Cost: 0.00% Expense Ratio

5. iShares Core S&P 500 ETF (IVV)

This ETF that also follows the S&P is a fund sponsored by one of the largest fund companies, BlackRock.

Cost: 0.03 percent Expense Ratio