What does the expense ratio mean for these ETFs?

The expense ratio represents the annual operating cost of a fund as a percentage of assets. Both VOO and VUG have an identical expense ratio of 0.03%. This means for every £1,000 invested, £0.30 is charged annually to manage the fund. Because the fees are the same, investors do not need to compare cost efficiency between these two specific products. The primary distinction lies in their investment strategies rather than their cost structure.

How do the index tracking methodologies compare for VOO and VUG?

For both VOO (S&P 500 Vanguard ETF) and VUG (Vanguard US Growth ETF), the specific index tracked is listed as not available in the current data. Consequently, investors cannot directly compare their benchmark methodologies or index replication strategies based on published information. This gap means that assessing how each fund strictly adheres to a defined market segment requires additional external research beyond the provided comparison data.

What are the top holdings for VOO and how concentrated is the fund?

VOO's top holdings are led by Nvidia at 8.08%, Apple at 7.03%, and Microsoft at 5.70%. These three technology giants account for a significant portion of the fund's total weight. The top ten positions collectively dominate the portfolio, indicating a high concentration in mega-cap technology stocks. While this has historically supported returns, it also introduces specific sector risks for investors tracking the broader S&P 500 large-cap market.

How do VUG's holdings differ from VOO's despite overlapping stocks?

VUG shares nine of its top ten holdings with VOO, including major tech firms like Nvidia and Apple. However, the weighting differs significantly. VUG holds higher percentages in these growth-oriented companies, with Nvidia at 13.62% and Apple at 12.49%. Conversely, VUG includes Eli Lilly in its top ten, whereas VOO holds Micron. This illustrates how growth funds can be more concentrated in specific high-performing sectors compared to broad market funds.

Which fund offers a higher dividend yield currently?

VOO currently provides a dividend yield of 1.03%, while VUG offers a yield of 0.37%. This means VOO's payout is approximately 2.7 times higher than VUG's. Growth funds like VUG often prioritise capital appreciation and reinvesting earnings for expansion, resulting in lower distributions. In contrast, VOO, as a large blend fund, captures dividends from a wider range of mature companies, providing a moderate income stream to investors.

What information is available regarding sector weights for these funds?

For both VOO and VUG, sector weighting data is currently not available in the provided dataset. This absence limits the ability to directly assess how diversified each fund is across different industries such as technology, healthcare, or financials. Investors typically rely on sector weights to gauge concentration risk, so the lack of this specific information means those looking for a detailed industry breakdown must consult other sources.

How does the net asset value compare between VOO and VUG?

VOO is exceptionally large, with net assets of $1.08 trillion, reflecting its status as a flagship fund for broad market exposure. VUG is also very large at $232.1 billion. While VOO is substantially larger in terms of total assets under management, both funds are considered highly liquid. The size difference primarily indicates the broad adoption of the S&P 500 index versus the more specialised growth strategy.

What is the operational history of these two Vanguard ETFs?

VUG has a longer operational history, with an inception date of 26 January 2004. VOO was launched later, on 7 September 2010. This means VUG has been available to investors for more than six years longer than VOO. A longer track record can provide more historical performance data for analysis, although both funds now have well-established histories within the US equities market.

What does the 'Large Blend' vs 'Large Growth' categorisation imply?

VOO is categorised as a Large Blend fund, suggesting it holds a mix of growth and value stocks within the large-cap segment. VUG is categorised as a Large Growth fund, indicating a specific focus on companies expected to grow earnings at an above-average rate. This classification difference drives their distinct holdings weighting and dividend profiles, even though both target the US large-cap market.

Why do both funds list 'not available' for their tracked index?

The current dataset explicitly lists the index tracked for both VOO and VUG as not available. This is a data limitation rather than a fund characteristic. Typically, VOO tracks the S&P 500, but without this confirmation in the source, we cannot assert it for this comparison. Similarly, VUG's specific growth index selection criteria remain unclear in this dataset, preventing a technical comparison of their benchmark adherence.

VOO vs VUG

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

Compare VOO (S&P 500 Vanguard ETF) and VUG (Vanguard US Growth ETF). This page examines fees, holdings, dividends, and how each fund tracks its respective market segment to help you understand their differences. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

VOO

Metric

VUG

0.03%

Expense Ratio

0.03%

1.03%

Dividend Yield

0.37%

$1.08T

Net Assets

$232.11B

516

Holdings

151

Sep 7, 2010

Inception Date

Jan 26, 2004

–

Index Tracked

–

Large Blend

Fund Category

Large Growth

Both funds charge the same annual fee.

Shared Top Holdings

Holding	VOO	VUG
NVDANVIDIA Corporation	8.08%	13.62%
AAPLApple Inc.	7.03%	12.49%
MSFTMicrosoft Corporation	5.70%	10.12%
AMZNAmazon.com, Inc.	3.84%	4.76%
GOOGLAlphabet Inc.	3.01%	5.34%
AVGOBroadcom Inc.	2.65%	4.10%
GOOGAlphabet Inc.	2.40%	4.21%
METAMeta Platforms, Inc.	1.90%	3.39%
TSLATesla, Inc.	1.57%	2.79%

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Investment Analysis

VOO

Pros

Its expense ratio is only 0.03 per cent, giving very low ongoing fund costs.
With $1.08 trillion in net assets, the fund is exceptionally large and liquid.
Its 1.03 per cent dividend yield provides a moderate income stream for investors.

Considerations

The fund tracks no specific published index, leaving its methodology unclear.
Its top holdings are dominated by mega-cap technology stocks, creating concentration risk.
It has no sector weighting data available, so investors cannot assess its industry diversification.

VUG

Pros

Its expense ratio is only 0.03 per cent, matching the low costs of broad market ETFs.
With $232.1 billion in net assets, the fund is very large and highly liquid.
Its inception date in January 2004 means it has a long operational history.

Considerations

The fund tracks no specific published index, so its growth selection criteria remain unclear.
Its 0.37 per cent dividend yield is very low, offering minimal income for investors.
Nearly half its portfolio is in just its top five holdings, creating significant concentration.

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About VOO and VUG

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.

VUG (VUG)

This exchange-traded fund aims to track the performance of large-capitalisation U.S. companies classified as growth stocks. It generally holds shares of businesses expected to expand faster than the broader market, often focusing on sectors like information technology and consumer discretionary. The fund maintains a low expense ratio, which helps preserve investor returns over time. While growth stocks can offer significant capital appreciation during favourable economic conditions, they may also experience higher volatility and sharper declines when market sentiment shifts or interest rates rise. With over 150 holdings, the fund provides diversified exposure to leading U.S. growth firms. Investors should note that past performance is not indicative of future results, and values can go down as well as up. The fund pays a modest dividend yield, but its primary objective remains capital growth rather than income generation. It is suitable for those seeking long-term exposure to the growth segment of the U.S. equity market.

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VOO vs VUG

Fund Snapshot