VONG vs. VOOG: How These Similar Large-Cap Growth ETFs Compare for Investors

By Katie Brockman – Mar 3, 2026 at 4:00AM ESTKey PointsVONG holds more than twice as many stocks as VOOG, offering broader large-cap growth exposure.Both funds charge nearly identical expense ratios and pay similar dividend yields.Minor differences in stock allocations could make a difference to some investors.The Vanguard S&P 500 Growth ETF (VOOG +0.18%) and the Vanguard Russell 1000 Growth ETF (VONG +0.28%) both deliver low-cost U.S. growth stock exposure, but they track different indexes and thus offer distinct portfolio compositions. This comparison looks at fees, performance, portfolio tilt, and practical considerations to help clarify which approach may appeal more.Snapshot (cost & size)MetricVOOGVONGIssuerVanguardVanguardExpense ratio0.07%0.06%1-yr return (as of March 2, 2026)18.47%14.53%Dividend yield0.49%0.46%Beta (5Y monthly)1.101.15AUM$22.5 billion$46.5 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.VONG is slightly more affordable with a lower annual expense ratio, though the difference is minimal. The funds pay a nearly identical dividend yield, so cost and income factors are essentially a wash.Performance & risk comparisonMetricVOOGVONGMax drawdown (5 y)-32.74%-32.72%Growth of $1,000 over 5 years$1,863$1,867What's insideVONG tracks the Russell 1000 Growth Index, holding 391 stocks and offering a diversified take on large-cap U.S. growth. Its portfolio is led by technology (50%), but it also features meaningful allocations to consumer cyclical (14%) and communication services (13%). Its top holdings include Nvidia, Apple, and Microsoft, and the fund has a 15-year track record and no unusual quirks.VOOG, on the other hand, draws from the S&P 500 Growth Index and holds only 140 stocks, resulting in a more concentrated approach. Its sector mix also leans into technology at 48%, with 18% allocated to communication services and 10% to consumer cyclical. The top three positions include Nvidia, Microsoft, and Alphabet.For more guidance on ETF investing, check out the full guide at this link.What this means for investorsVOOG and VONG are similar in many ways, namely in that they both focus on large-cap growth stocks. Their differing underlying indexes, though, result in a few key distinctions.For one, VOOG is narrower, with 251 fewer stocks than VONG. The ETFs also have marginal differences in sector and stock allocations, with communication services making up a slightly larger slice of VOOG’s portfolio, and VONG leaning more heavily into consumer cyclical stocks.While Nvidia and Microsoft are in both funds’ top three holdings, VOOG invests more heavily in Alphabet while VONG tilts toward Apple. Although these are all marginal differences, they could impact performance if these particular stocks or sectors under- or overperform.That said, the difference in fund size and allocations hasn’t appeared to have a meaningful impact on performance recently, as the ETFs have earned nearly identical total returns and max drawdowns over the last five years.Most investors may not notice significant differences between these two ETFs, but the fund size may be notable for some. Those looking for broader exposure to more stocks may prefer VONG’s wider net, while investors seeking a more targeted approach might opt for VOOG instead.Read NextFeb 10, 2026 •By David Jagielski, CPA2 Vanguard ETFs That Could Turn $400 Per Month Into $1 MillionJan 26, 2026 •By Adé HennisIWO vs. VONG: How Does A Small Cap Growth Compare Against A Large Cap Growth FundJan 24, 2026 •By Robert IzquierdoBetter Vanguard Growth ETF: MGK vs. VONGJan 17, 2026 •By Jake LerchGrowth-Oriented ETFs: VONG Has Lower Fees, While IWY Has Delivered Higher ReturnsJan 12, 2026 •By Katie BrockmanVONG vs. SCHG: Which of These Popular Growth ETFs Is the Better Choice for Investors?Jan 5, 2026 •By Neha ChamariaVONG vs VOOG: The Best Vanguard Growth Stocks ETF to Buy and HoldAbout the AuthorKatie Brockman is a contributing writer at The Motley Fool covering retirement, Social Security, and investing fundamentals. Prior to The Motley Fool, Katie held various writing and editing roles at companies ranging from small start-ups to multimillion-dollar brands. Her work has appeared in USA Today, Inc magazine, and other authoritative media outlets. She holds a bachelor’s degree in business administration and management from Illinois Wesleyan University.TMFKatieBrockmanStocks MentionedVanguard Scottsdale Funds - Vanguard Russell 1000 Growth ETFNASDAQ: VONG$116.20(+0.28%)+$0.33Vanguard Admiral Funds - Vanguard S&P 500 Growth ETFNYSEMKT: VOOG$432.06(+0.18%)+$0.78*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.