What is an ETF and how do funds like VOO and VOOG operate?

An Exchange-Traded Fund (ETF) is a type of investment fund that is traded on stock exchanges. Funds like VOO and VOOG are issued by Vanguard and designed to track specific market indices. VOO is a Large Blend fund, aiming to replicate the S&P 500, while VOOG is a Large Growth fund, focusing on growth-oriented companies within that index. Both were launched on 7 September 2010, allowing investors to buy and sell shares throughout the trading day at fluctuating prices.

What does expense ratio mean and how do the costs of VOO and VOOG compare?

The expense ratio is the annual fee an ETF charges investors to manage the fund, expressed as a percentage of assets. VOO has an ultra-low expense ratio of 0.03%, while VOOG’s expense ratio is 0.07%. This means VOOG costs 0.04 percentage points more annually than VOO. Lower expense ratios generally enhance net returns by deducting less from the fund’s gross performance, making fee comparisons a critical factor for long-term holders seeking to minimise costs.

Why is inception date important when comparing ETFs like VOO and VOOG?

The inception date marks when an ETF was first launched and began trading publicly. A long operating history, such as the 7 September 2010 inception date shared by VOO and VOOG, provides a robust track record for analysing how effectively each fund replicates its target index. Knowing the inception date helps investors understand the consistency of the fund's performance data and ensures they are comparing like-for-like time periods.

How do the top holdings of VOO and VOOG overlap and differ?

Both funds share several top holdings, including NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, META, and MU. However, the weightings differ significantly. For instance, NVDA comprises 8.08% of VOO but 14.85% of VOOG. Similarly, MSFT accounts for 5.70% of VOO and 10.46% of VOOG. This reflects VOOG’s growth focus, concentrating more heavily on high-growth tech firms compared to VOO’s broader market representation.

How does the net asset size of VOO and VOOG impact trading?

Net assets refer to the total value of all holdings within the fund. VOO possesses a massive asset base of $1.08 trillion, which typically supports high liquidity and tight bid-ask spreads. In contrast, VOOG has $27.3 billion in net assets. While still substantial, the larger asset base of VOO often results in smoother trading experiences and potentially lower transaction costs due to higher volume and liquidity.

What are the dividend yield differences between VOO and VOOG?

VOO provides a dividend yield of 1.03%, whereas VOOG yields 0.43%. Dividend yield is an annual percentage of the share price paid out as dividends. The lower yield of VOOG reflects its focus on growth companies, which often reinvest earnings rather than distributing cash. Investors seeking regular income might find VOO's higher yield more appealing, while VOOG's low yield aligns with capital appreciation goals.

How do VOO and VOOG differ in their exposure to sector concentration?

While specific sector weights are not available for either fund, their categories indicate different exposures. VOO is a Large Blend fund tracking the S&P 500, offering diversified exposure across various industries. VOOG is a Large Growth fund, meaning it likely holds higher concentrations in technology and consumer discretionary sectors, which are often driven by growth companies. The top holdings confirm significant exposure to tech giants in both, but VOOG’s design emphasises growth-oriented industries.

What is single-stock risk and how does it apply to VOOG?

Single-stock risk refers to the potential impact on a fund’s performance from significant price movements in one specific holding. VOOG has notable concentration in NVDA at 14.85% and MSFT at 10.46%. If these two companies underperform, the fund’s overall return could be disproportionately affected. VOO, by contrast, has lower weights in these names (NVDA 8.08%, MSFT 5.70%), spreading the impact of individual stock volatility across a broader portfolio.

What should investors consider regarding liquidity when trading these Vanguard ETFs?

Liquidity determines how easily an investor can buy or sell shares without significantly impacting the price. VOO’s massive $1.08 trillion in assets suggests extremely high liquidity. VOOG also maintains a strong asset base of $27.3 billion, which aids trading stability compared to smaller funds. Generally, the higher the trading volume and assets, the tighter the bid-ask spreads, reducing costs for frequent traders.

How should investors interpret the data on this ETF comparison page?

Investors should view this comparison as a factual overview of fund characteristics, including fees, holdings, and yields. For example, noting that VOO has an expense ratio of 0.03% and VOOG has 0.07% helps assess cost efficiency. Understanding that VOOG’s NVDA holding is 14.85% versus VOO’s 8.08% highlights concentration differences. This page is for educational purposes only and does not provide financial advice; consult a qualified professional for personal investment guidance.

What is the purpose of comparing these two specific Vanguard ETFs?

This comparison aims to illustrate how different strategies within the same provider affect portfolio composition. VOO (0.03% expense ratio) tracks the broader S&P 500, while VOOG (0.07% expense ratio) targets growth stocks within that index. By analysing shared holdings like AAPL and GOOGL, and differing weights like MSFT (5.70% in VOO vs 10.46% in VOOG), investors can better understand the trade-offs between broad market diversification and targeted growth exposure.

Disclaimer: Is this content financial advice?

No, this content is for educational purposes only and does not constitute financial advice. The comparisons provided here are based on factual data from Yahoo Finance as of 22 September 2026. Investing in financial markets involves risk, including the potential loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.

VOO vs VOOG

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare VOO and VOOG. This page examines fees, holdings, dividends, and tracking for each fund. VOO tracks the S&P 500 with a 0.03% expense ratio, while VOOG focuses on growth with a 0.07% ratio. Both launched on 7 September 2010. Explore how their strategies differ. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

VOO

Metric

VOOG

0.03%

Expense Ratio

0.07%

1.03%

Dividend Yield

0.43%

$1.08T

Net Assets

$27.25B

516

Holdings

154

Sep 7, 2010

Inception Date

Sep 7, 2010

–

Index Tracked

–

Large Blend

Fund Category

Large Growth

VOO costs about $4.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	VOO	VOOG
NVDANVIDIA Corporation	8.08%	14.85%
AAPLApple Inc.	7.03%	6.46%
MSFTMicrosoft Corporation	5.70%	10.46%
AMZNAmazon.com, Inc.	3.84%	3.74%
GOOGLAlphabet Inc.	3.01%	5.52%
AVGOBroadcom Inc.	2.65%	4.87%
GOOGAlphabet Inc.	2.40%	4.40%
METAMeta Platforms, Inc.	1.90%	3.49%
MUMicron Technology, Inc.	1.63%	3.00%

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VOO vs VXUS: VOO holds 516 US stocks for 0.03% a year, VXUS holds about 8,860 non-US stocks for 0.05%. Compare fees, yield, size and overlap.

Investment Analysis

VOO

Pros

Ultra low expense ratio of 0.03% enhances net returns compared to peer large-cap products.
Massive asset base of $1.08 trillion supports high liquidity and tight bid-ask spreads for traders.
Long operating history since September 2010 provides a robust track record of index replication.

Considerations

Concentration risk exists with top tech and consumer holdings comprising over 30% of total assets.
Low dividend yield of 1.03% may not satisfy income-focused investors seeking regular cash flow.
Missing sector weight data limits immediate analysis of industry exposure without external calculation.

VOOG

Pros

Focused on growth companies, potentially offering higher capital appreciation in expanding economic cycles.
Stronger asset base of $27.3 billion compared to typical sector-specific funds aids trading stability.
Same inception date as VOO allows for a consistent ten-year comparison of growth style performance.

Considerations

Expense ratio of 0.07% is more than double that of its broad market counterpart.
Significant concentration in NVDA at 14.85% and MSFT at 10.46% increases single-stock risk.
Very low dividend yield of 0.43% provides minimal income, reflecting the growth-oriented portfolio design.

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About VOO and VOOG

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

VOOG (VOOG)

The Vanguard S&P 500 Growth ETF aims to track the performance of large-cap growth stocks listed on the S&P 500 Index. With a low expense ratio of 0.07% and a history dating back to 2010, it offers a cost-effective way for investors to gain exposure to companies expected to grow faster than the average market. This fund holds around 154 stocks, focusing on businesses with strong earnings growth and sales trends. While it provides diversification within the growth sector of the large-cap market, investors should remember that growth stocks can be more volatile than value stocks, and past performance does not guarantee future results. As with any investment, consider your risk tolerance and overall financial strategy.

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VOO vs VOOG

Fund Snapshot