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.
Written by Muhammad Hamza
VOO
S&P 500 — broad market-cap weighting
VOOG
S&P 500 Growth — concentrated growth tilt
| VOO | VOOG | |
|---|---|---|
| Issuer | Vanguard | Vanguard |
| Expense ratio | 0.03% | 0.07% |
| Holdings | ~516 | ~154 |
| Inception | Sep 7, 2010 | Sep 7, 2010 |
| Dividend frequency | Quarterly | Quarterly |
Sources: each fund's issuer page (Vanguard, State Street/SSGA, Invesco, Charles Schwab, BlackRock/iShares), cross-checked against StockAnalysis.com. Holdings counts are approximate and change daily; expense ratios can change — verify current figures on the issuer's own page before investing.
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.
As of September 28, 2026, VOOG charges 0.07% versus VOO's 0.03% — a modest gap, consistent with style-index funds generally costing a bit more than a plain market-cap fund. The bigger number is holdings count: VOOG holds about 154 companies against VOO's roughly 516 — about a third as many, concentrated specifically in the highest-scoring growth names. Expense ratios and exact holdings change over time; check current figures directly on Vanguard's official VOO and VOOG pages. A single growth projection can't responsibly represent both funds given that concentration gap — model each one separately with your own return assumption in the VOO calculator.
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 growth under your own assumptions — the same math applies whether you enter it for VOO, VOOG, or any other fund.