What are the main differences between VOOG and VUG?

VOOG tracks the S&P 500 Growth Index, focusing strictly on the growth-oriented companies within the S&P 500 large-cap universe. In contrast, VUG tracks a broader CRSP US Large Cap Growth Index, capturing growth stocks across a wider definition of large-cap US companies rather than just those in the S&P 500. Additionally, VUG holds significantly more assets, with $232.1 billion compared to VOOG's $27.3 billion, which typically enhances liquidity and reduces tracking error potential.

Which fund is cheaper to hold?

VUG is more cost-effective for investors. VUG has an expense ratio of 0.03%, while VOOG's expense ratio is slightly higher at 0.07%. Over long periods, this difference means lower fees can positively impact net returns.

What is an expense ratio?

The expense ratio represents the annual cost to fund managers to operate the ETF. For example, VUG's 0.03% means $3 is deducted annually from a $10,000 investment. These fees reduce returns over time, so lower ratios can help grow capital more efficiently.

What types of investments do VOOG and VUG focus on?

VOOG tracks the S&P 500 Growth Index, while VUG tracks a broader large growth index. Both focus on US growth companies, offering similar exposure to sectors like technology and healthcare. However, VUG tends to diversify across a wider range of large-cap companies compared to VOOG.

Why do ETFs pay dividends?

ETFs pass along dividends from their underlying holdings to investors. These payouts are typically distributed quarterly and depend on the companies' earnings. Dividends provide income, but ETF yields vary based on the holdings' profitability and payout policies.

Why are the holdings similar but the dividends different?

Both funds share top holdings like NVDA and AAPL, yet dividends differ due to payout policies. VOOG's yield is 0.43%, slightly higher than VUG's 0.37%, which suggests VOOG's holdings or weighting might lean toward dividend-paying stocks. However, both yields are low compared to other asset classes.

Are these funds suitable for income-focused investors?

No, as both funds have low yields. VOOG's dividend yield is 0.43%, and VUG's is 0.37%, making them less ideal for income generation. These funds are better suited for capital growth, especially in sectors like tech where dividend payouts are minimal.

Should I hold both funds if they overlap so much?

Holding both may be unnecessary due to their high overlap. Since both funds target similar large-cap growth companies, holding one might suffice to avoid redundant exposure. However, investors could choose VUG for its lower expense ratio or VOOG for potentially slightly higher yield, depending on their priorities.

What is concentration risk in these funds?

Both VOOG and VUG face concentration risk in mega-cap tech stocks like NVDA and MSFT. If tech sectors decline, performance could suffer. While VUG offers broader diversified exposure, its heavy weighting in tech still poses risks similar to VOOG. Investors should monitor sector shifts.

What are the top holdings of VOOG and VUG?

VOOG's top holdings include NVDA (14.85%), MSFT (10.46%), and AAPL (6.46%). VUG's top holdings are NVDA (13.62%), AAPL (12.49%), and MSFT (10.12%). Both funds are heavily concentrated in tech mega-caps. Specific sector weights for these funds are not available.

Why does VUG have more assets than VOOG?

VUG, with $232.1 billion in assets, is a legacy fund from 2004, attracting long-term investors. VOOG launched in 2010, resulting in smaller scale at $27.3 billion. However, both funds maintain sufficient liquidity and low expense ratios.

What should I know about index tracking transparency?

Neither VOOG nor VUG provides full index tracking details publicly, which may limit transparency for some investors. This could affect how investors interpret methodologies. Consulting other resources, such as Vanguard’s documentation, is recommended for deeper insights into how each index selects holdings.

VOOG vs VUG

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

This page compares the Vanguard S&P 500 Growth ETF (VOOG) and the Vanguard US Growth ETF (VUG). It examines expenses, holdings, dividends and how each fund tracks its market, providing a neutral, accessible overview of their characteristics. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

VOOG

Metric

VUG

0.07%

Expense Ratio

0.03%

0.43%

Dividend Yield

0.37%

$27.25B

Net Assets

$232.11B

154

Holdings

151

Sep 7, 2010

Inception Date

Jan 26, 2004

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Index Tracked

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Large Growth

Fund Category

Large Growth

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

Shared Top Holdings

Holding	VOOG	VUG
NVDANVIDIA Corporation	14.85%	13.62%
MSFTMicrosoft Corporation	10.46%	10.12%
AAPLApple Inc.	6.46%	12.49%
GOOGLAlphabet Inc.	5.52%	5.34%
AVGOBroadcom Inc.	4.87%	4.10%
GOOGAlphabet Inc.	4.40%	4.21%
AMZNAmazon.com, Inc.	3.74%	4.76%
METAMeta Platforms, Inc.	3.49%	3.39%

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Investment Analysis

VOOG

Pros

VOOG tracks the S&P 500 Growth Index, offering targeted exposure to large-cap US growth stocks.
The expense ratio of 0.07% is low, making it cost-effective relative to many managed funds.
With net assets of $27.3 billion, the fund is large enough to ensure adequate liquidity.

Considerations

Its dividend yield of 0.43% is relatively modest for income-focused investors.
VOOG's index tracking methodology details are not available, which limits transparency for some analysts.
Concentration in tech mega-caps, with top holdings like NVDA and MSFT, increases sector-specific risk.

VUG

Pros

VUG is a widely recognised large growth ETF with net assets of $232.1 billion, ensuring substantial liquidity.
Its expense ratio of 0.03% is very low, significantly reducing cost drag on long-term returns.
The fund provides diversified exposure across major US growth companies in the large-cap segment.

Considerations

The dividend yield of 0.37% is very low, unsuitable for investors seeking meaningful income.
Index tracked details are not available, which may concern investors who value transparency on methodology.
A concentration in mega-cap tech stocks like NVDA and AAPL creates vulnerability to sector-specific downturns.

About VOOG and VUG

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.

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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VOOG vs VUG

Fund Snapshot