iShares S&P 500 Index (ETF) (AMEX:IVV)
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Exchange Traded Funds
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This ETF has slightly higher fees (0.10%) than the benchmark SPY ETF (0.08%). Assuming no tracking error, SPY is a better option. (daddylight used a lot fewer characters to say th same thing. :)
Don't forget discount vs. premium. If you pay a .22 premium for a more expensive IVV, and SPY is selling for a .07 premium at the time you buy in, assuming the same performance, your NAV will take roughly 11 years to surpase the value of SPY. This is assuming a .015% advantage, which appears to be closer to a .01% advantage right now. Granted the performance of the funds probably won't be dead even, and both funds will fluctuate in price relative to NAV (i.e. both funds will discount and both funds will premium), but all of these events should be taken into account using IVV to cheat and raise your percentage. I don't think you'd want to wait 11 years for IVV to lose ground on SPY (theoretically anyways).