S&P 500 Fund Offers a Low-Cost Alternative to Anthropic IPO

Investors weighing Anthropic’s anticipated public offering have another option: a fund that tracks the S&P 500. Vanguard’s VOO charges an annual expense ratio of 0.03%, or about $3 for every $10,000 invested.

The fund holds shares in large U.S. companies rather than betting on one new listing. Its return follows the S&P 500, an index of about 500 companies whose membership changes over time.

History gives the index a strong comparison point, not a promise. Fidelity says the S&P 500 returned about 11% annually from January 2006 through December 2025, with dividends included. At that rate, $10,000 would have grown to roughly $80,600 before taxes and fees.

That long record does not show that an index fund will beat Anthropic. A successful company could outperform the broader market, while a highly valued IPO could disappoint. The S&P 500’s advantage is spreading risk across many businesses, not guaranteeing the highest return.

Anthropic’s listing plans remain uncertain. Reuters reported the company may push its offering until after the U.S. midterm elections in November, despite earlier expectations for a fall debut.

Even after a listing, Anthropic would not immediately enter VOO. S&P’s rules require an IPO to trade for at least 12 months before it can be considered for the index; companies must also meet financial and other criteria, and a committee makes the final selection.

That means VOO holders would gain exposure only if Anthropic later qualified and was added. Until then, the fund offers broad exposure to established companies, including major technology firms, while leaving investors out of any early surge in Anthropic shares.