VOO vs VOOG
VOO tracks the full S&P 500. VOOG tracks a growth-focused subset of it. Here's how the two Vanguard funds actually differ.
VOO
S&P 500 — broad market-cap weighting
VOOG
S&P 500 Growth — concentrated growth tilt
What each fund tracks
VOO tracks the S&P 500 index, holding roughly 500 large U.S. companies weighted by market capitalization — every large U.S. company in the index, growth-oriented or not. VOOG tracks the S&P 500 Growth Index, which starts from that same universe of companies but selects and weights only the ones that score highest on growth-style factors, such as sales growth, earnings growth, and price momentum. Both funds are run by Vanguard.
| VOO | VOOG | |
|---|---|---|
| Provider | Vanguard | Vanguard |
| Tracks | S&P 500 Index | S&P 500 Growth Index |
| Selection approach | Market-cap weighted, broad | Growth-style subset, narrower |
| Primary focus | Full large-cap U.S. market | Growth-oriented tilt within it |
What's actually different
Because VOOG's index selects specifically for growth characteristics, it tends to be more concentrated in sectors known for faster growth — historically technology and consumer discretionary have carried a larger share of growth-style indexes than of the broader S&P 500. VOO's unscreened, market-cap-weighted approach means it holds everything in the index in proportion to size, including more established, slower-growing, and value-oriented companies that VOOG's growth screen tends to exclude.
Expense ratios and exact current holdings for both funds change over time — check current figures directly on Vanguard's official VOO and VOOG pages rather than relying on a fixed number here.
An illustrative growth example
Because VOO and VOOG track different indexes with different concentration levels, a single growth projection can't responsibly represent both. The chart below illustrates the compounding mechanism only — $500 invested every month for 20 years at an assumed 7% annual return — not a claim that either fund would actually produce this outcome, since VOOG's concentration means its real returns can diverge meaningfully from VOO's in either direction.
At this hypothetical rate, the 20-year total works out to $260,463, of which $120,000 came from contributions.
Which one fits your plan
If you want the full breadth of the U.S. large-cap market without a stylistic tilt, VOO fits that goal. If you specifically want more concentrated exposure to growth-characteristic companies within that same market, VOOG is built for that — with the trade-off of less diversification and potentially more volatility. Some investors hold a broad fund like VOO as a core position and layer in a growth or value tilt like VOOG alongside it, rather than choosing one to replace the other. This page is educational information, not a recommendation.
Use our VOO calculator to project VOO's growth under your own assumptions, or the investment calculator for a general projection that works for VOOG or any other fund.