Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the Vanguard S&P 500 Growth Index Fund ETF Shares (VOOG) is a passively managed exchange traded fund launched on September 9, 2010.
The fund is sponsored by Vanguard. It has amassed assets over $25.40 billion, making it one of the largest ETFs attempting to match the Large Cap Growth segment of the US equity market.
Why Large Cap Growth
Large cap companies usually have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.
Qualities of growth stocks include faster growth rates compared to the broader market, as well as higher valuations and higher than average sales and earnings growth rates. Also, growth stocks are a type of equity that carries more risk compared to others. When you consider growth versus value, growth stocks are usually the clear winner in strong bull markets but tend to fall flat in nearly all other environments.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.07%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.45%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund’s holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector — about 51.8% of the portfolio. Telecom and Consumer Discretionary round out the top three.
Looking at individual holdings, Nvidia Corp (NVDA) accounts for about 14.6% of total assets, followed by Microsoft Corp (MSFT) and Apple Inc (AAPL).
The top 10 holdings account for about 36.26% of total assets under management.
Performance and Risk
VOOG seeks to match the performance of the S&P 500 Growth Index before fees and expenses. The S&P 500 Growth Index measures the performance of large-capitalization growth stocks.
The ETF has added roughly 10.96% so far this year and it’s up approximately 34.57% in the last one year (as of 05/22/2026). In the past 52-week period, it has traded between $61.04 and $83.49.
The ETF has a beta of 1.17 and standard deviation of 18.65% for the trailing three-year period, making it a medium risk choice in the space. With about 151 holdings, it effectively diversifies company-specific risk.