Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTBrendan Coffey, The Motley FoolSat, July 18, 2026 at 5:56 PM GMT+2 4 min readChoosing between Vanguard S&P 500 Growth ETF (NYSEMKT:VOOG) and Vanguard Mega Cap Growth ETF (NYSEMKT:MGK) involves weighing a slightly lower cost against a broader portfolio of S&P 500 growth stocks.Both Vanguard funds provide low-cost exposure to the U.S. growth market but differ in their underlying index methodology. While MGK targets only the largest market-capitalization names, VOOG casts a wider net across the entire S&P 500, offering a different balance of concentration and diversity.Snapshot (cost & size)MetricMGKVOOGIssuerVanguardVanguardShare price$88.18 (as of 2026-07-16)$81.91 (as of 2026-07-16)Expense ratio0.05%0.07%1-yr return (as of July 16, 2026)18.80%22.80%Dividend yield0.30%0.50%Beta1.231.17AUM$33.3 billion$26.4 billionBeta measures price volatility relative to the S&P 500; beta is calculated from monthly returns over the available fund history (up to five years). The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield as of the close of July 16.MGK is slightly more affordable with a 0.05% expense ratio, while VOOG charges 0.07%. Investors seeking higher income could find more value in the Vanguard S&P 500 Growth ETF, which provides a higher trailing-12-month payout.Performance & risk comparisonMetricMGKVOOGMax drawdown (5 yr)(36.00%)(32.70%)Growth of $1,000 over 5 years (total return)$1,917$1,908What's insideThe Vanguard S&P 500 Growth ETF (VOOG) portfolio contains 148 holdings, primarily in Technology 52%, Communication Services 16%, and Consumer Cyclical 9%. Its largest positions include Nvidia Corp (NASDAQ:NVDA) at 13.6%, Microsoft Corp (NASDAQ:MSFT) at 7.8%, and Apple Inc (NASDAQ:AAPL) at 6%. It launched in 2010. Vanguard S&P 500 Growth ETF has paid $0.37 per share over the trailing 12 months, which on its recent ~$81.91 share price works out to a 0.50% yield.The Vanguard Mega Cap Growth ETF (MGK) portfolio is more concentrated with 56 holdings, led by Technology 59%, Communication Services 17%, and Consumer Cyclical 11%. Its largest positions include Nvidia at 13.24%, Apple at 12%, and Microsoft Corp at 8%. It launched in 2007. Vanguard Mega Cap Growth ETF has paid $0.29 per share over the trailing 12 months, which, on its recent ~$88.18 share price, works out to a 0.30% yield.Which fund is the better buy?These two Vanguard funds are a choice between going big or going bigger.Both have rock-bottom expenses, both are more than 90% invested in large-cap stocks, and both are around 40% focused on large-cap growth stocks.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info