VONG vs. QQQ: Which Growth ETF Is the Better Buy?

By Ben Gran – Mar 16, 2026 at 7:45AM ESTKey PointsThese two ETFs -- one from Vanguard and one from Invesco -- have similar tech-heavy holdings. QQQ might have a cheaper valuation than VONG, but it also has a somewhat higher expense ratio. If you want a tech-heavy portfolio, the QQQ ETF might be the easiest way to buy those names. The first quarter of 2026 has been a strange time for technology stocks. The tech-heavy Nasdaq-100 index is down 1.2% year to date, slightly underperforming the S&P 500 index. If you want to buy the dip on technology stocks, two popular stock exchange-traded funds (ETFs) offer an easy way to do it.

The Vanguard Russell 1000 Growth ETF (VONG 1.10%) invests in a tech-heavy portfolio of large-cap U.S. growth stocks. Or you could just buy the entire Nasdaq-100 index with the popular Invesco QQQ Trust ETF (QQQ 0.59%), which tracks the performance of the 100 largest nonfinancial Nasdaq-listed stocks. Let's take a closer look at these two U.S. growth stock ETFs and see how to choose one. Image source: Getty Images. VONG: A tech-heavy portfolio of 391 stocks The Vanguard Russell 1000 Growth ETF owns 391 stocks, so just by sheer size, it's more diversified than the QQQ. But the VONG's allocation is heavy on tech: 59.7% of the fund's holdings are in technology stocks. Its top five holdings are Nvidia (12.7% of the fund), Apple (10.8%), Microsoft (9.2%), Amazon (4.8%), and Broadcom (4.6%). ExpandNASDAQ: VONGVanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETFToday's Change(-1.10%) $-1.26Current Price$112.81Key Data PointsDay's Range$112.66 - $115.0952wk Range$79.39 - $126.83Volume199 The VONG has gained about 24% in the past year, slightly underperforming the 28.4% gain of the Nasdaq-100 index (which gained 28.4%). This Vanguard ETF has a strong performance track record over the past several years. The fund's average annual returns are 26% in the past three years, 14.3% in the past five years, and 18.1% in the past 10 years.

The Vanguard Russell 1000 Growth ETF charges an expense ratio of 0.06%. If you want a tech-heavy portfolio of stocks at a low cost, this ETF could be a good buy. QQQ: Track the Nasdaq-100 index at a low cost The Invesco QQQ Trust ETF lets you own the entire Nasdaq-100 index in an easy low-cost way. This fund's expense ratio is 0.18%. As of Feb. 27, the fund had delivered average annual returns (by net asset value) of 20.1% in the past year, 28.2% for the past three years, 14.8% for the past five years, and 20.4% for the past 10 years. ExpandNASDAQ: QQQInvesco QQQ TrustToday's Change(-0.59%) $-3.54Current Price$593.72Key Data PointsDay's Range$592.57 - $603.6052wk Range$402.39 - $637.01Volume1.3M The QQQ holds 102 stocks, but it's about equally as tech-heavy as the VONG, with 59.8% of its holdings allocated to the Technology sector as of Feb. 27. And the QQQ's top five holdings (as of March 8) are mostly the same names as the VONG: Nvidia (8.7% of the fund), Apple (7.5%), Microsoft (5.9%), Amazon (4.5%), and Tesla (3.9%). The QQQ might be slightly undervalued compared to the VONG. The price-to-earnings ratio for the Invesco QQQ Trust ETF is 33.3, while the VONG has a P/E ratio of 35.0. If you want to own America's biggest tech names, the QQQ might be a more efficient choice than the Vanguard ETF.Read NextMar 6, 2026 •By Dan CaplingerInvestors in This ETF Have Earned Far More Than They Could Have Reasonably ExpectedMar 5, 2026 •By Dan CaplingerThis ETF Made Index Investing Cool Again -- And Made Shareholders Big WinnersMar 4, 2026 •By Matt Frankel, CFPHere's What Nobody Tells You Before You Buy a Nasdaq-100 ETFMar 2, 2026 •By Katie BrockmanIVV vs. QQQ: Is S&P 500 Stability or Tech-Focused Growth the Better Buy for Investors?Mar 2, 2026 •By Katie BrockmanMGK vs. QQQ: Here's How to Tell Which Popular Growth ETF Is Right for YouFeb 20, 2026 •By Trevor JennewineBillionaires Buy an AI Index Fund That Could Turn $500 Per Month Into $485,000About the AuthorBen Gran is a contributing analyst at The Motley Fool, covering publicly traded companies in consumer goods, technology, transportation, industrials, materials, and energy. He is a longtime freelance finance writer with 15+ years of experience writing for publications like Forbes Advisor, Motley Fool Money, and Business Insider, and corporate websites of Prudential and regional banks. Ben also ghostwrites books and bylines for CEOs and other business thought leaders. He earned his B.A. in History from Rice University. Ben is an avid international traveler and has visited 12 countries (and counting).TMFBenjaminGranStocks MentionedInvesco QQQ TrustNASDAQ: QQQ$593.71(-0.59%)-$3.55Vanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETFNASDAQ: VONG$112.81(-1.10%)-$1.26*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.