Vanguard S&P 500 Index (VFIAX/VOO)

Warren Buffett's recommended fund for 90% of investors, Vanguard S&P 500 Index (VFIAX/VOO) tracks the 500 largest U.S. companies with a rock-bottom 0.03% expense ratio. It has beaten most hedge funds over every 15-year period, delivering an average annual return of 10.2% over the past 50 years. At $151 billion in assets, it is larger than #3 FZROX, offering more liquidity and a longer track record dating back to 1976.