Vanguard Group's Standard & Poor's 500 ETF is on the edge of finally seizing the title of the world's largest exchange-traded fund from rival State Street Global Advisors' product, the SPDR S&P 500 Trust ,

The oldest exchange-traded fund listed in the U.S. has just been surpassed in assets under management by a Vanguard ETF that more cheaply tracks the S&P 500 index.

With Vanguard taking the top place among the ETF providers, it is now time to consider two of its ETFs with over 10% upside potential in the next 12 months. These include Vanguard Communication Services ETF (VOX) and Vanguard Dividend Appreciation ETF (VIG).

Vanguard has unseated State Street for the title of the world’s biggest exchange-traded fund, ushering in a new world order for the $11 trillion industry.

Vanguard Group's Standard & Poor's 500 ETF overtook rival State Street Global Advisors' SPDR S&P 500 Trust , on Tuesday to become the world's largest exchange-traded fund, according to data from FactSet.

Products tracking the S&P 500 (SP500) make up a good percentage of investor portfolios - and for good reason. The benchmark index just closed at a fresh record high and has returned more than 20% annually over the past two years.

The Vanguard S&P 500 ETF (VOO) has claimed the top spot for the ETF with the most assets, passing SPDR S&P 500 ETF Trust (SPY). Vanguard Head of Bank and Institutional Janel Jackson says VOO's growth is aided by model portfolios.