IVOO vs. VOOG

Last updated Jun 24, 2026

IVOO (Vanguard S&P Mid-Cap 400 ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both exchange-traded funds - IVOO is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, IVOO returned 11.59%/yr vs 18.00%/yr for VOOG. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.07% expense ratio.

Performance

IVOO vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 ETF (IVOO) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOO achieves a 14.65% return, which is significantly higher than VOOG's 8.71% return. Over the past 10 years, IVOO has underperformed VOOG with an annualized return of 11.59%, while VOOG has yielded a comparatively higher 18.00% annualized return.

IVOO

• 1D: -1.01%
• 1M: 2.69%
• YTD: 14.65%
• 6M: 12.56%
• 1Y: 25.18%
• 3Y*: 16.08%
• 5Y*: 8.44%
• 10Y*: 11.59%

VOOG

• 1D: -2.34%
• 1M: -2.03%
• YTD: 8.71%
• 6M: 7.44%
• 1Y: 26.86%
• 3Y*: 25.47%
• 5Y*: 14.06%
• 10Y*: 18.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IVOO vs. VOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVOO Vanguard S&P Mid-Cap 400 ETF	14.65%	7.47%	13.77%	16.45%	-13.17%	24.61%	13.61%	26.18%	-11.33%	16.38%
VOOG Vanguard S&P 500 Growth ETF	8.71%	22.11%	35.89%	29.96%	-29.48%	31.95%	33.35%	30.93%	-0.21%	27.19%

Correlation

The correlation between IVOO and VOOG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.76

The correlation between IVOO and VOOG shifts across timeframes, from 0.60 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

IVOO vs. VOOG - Sectors Allocation Comparison

Sectors	IVOO	VOOG
Industrials	24.7%	5.7%
Technology	17.8%	52.6%
Financial Services	13.7%	8.2%
Consumer Cyclical	10.6%	9.0%
Healthcare	9.0%	5.7%
Real Estate	7.3%	0.5%
Energy	4.9%	0.1%
Basic Materials	4.8%	0.3%
Consumer Defensive	3.3%	1.0%
Utilities	2.9%	0.4%
Communication Services	1.0%	16.7%

Return for Risk

IVOO vs. VOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IVOO

IVOO Risk / Return Rank: 53
IVOO Sharpe Ratio Rank: 48
IVOO Sortino Ratio Rank: 49
IVOO Omega Ratio Rank: 45
IVOO Calmar Ratio Rank: 61
IVOO Martin Ratio Rank: 61

VOOG

VOOG Risk / Return Rank: 45
VOOG Sharpe Ratio Rank: 47
VOOG Sortino Ratio Rank: 45
VOOG Omega Ratio Rank: 44
VOOG Calmar Ratio Rank: 41
VOOG Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IVOO vs. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 ETF (IVOO) and Vanguard S&P 500 Growth ETF (VOOG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IVOO	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.59	+0.01
Sortino ratio: Return per unit of downside risk	2.33	2.17	+0.16
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.87	1.97	+0.90
Martin ratio: Return relative to average drawdown	10.47	7.82	+2.65

IVOO vs. VOOG - Sharpe Ratio Comparison

The current IVOO Sharpe Ratio is 1.59, which is comparable to the VOOG Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of IVOO and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IVOO vs. VOOG - Drawdown Comparison

The maximum IVOO drawdown since its inception was -42.33%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for IVOO and VOOG.

Drawdown Indicators

	IVOO	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-42.33%	-32.73%	-9.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-13.71%	+4.90%
Max Drawdown (3Y) Largest decline over 3 years	-24.22%	-22.18%	-2.04%
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	-32.73%	+8.51%
Max Drawdown (10Y) Largest decline over 10 years	-42.33%	-32.73%	-9.60%
Current Drawdown Current decline from peak	-1.12%	-5.49%	+4.37%
Average Drawdown Average peak-to-trough decline	-5.25%	-4.96%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	3.45%	-1.04%

Volatility

IVOO vs. VOOG - Volatility Comparison

The current volatility for Vanguard S&P Mid-Cap 400 ETF (IVOO) is 4.73%, while Vanguard S&P 500 Growth ETF (VOOG) has a volatility of 7.23%. This indicates that IVOO experiences smaller price fluctuations and is considered to be less risky than VOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOO	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	7.23%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	13.86%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	17.04%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	21.38%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	20.81%	+0.38%

IVOO vs. VOOG - Expense Ratio Comparison

Both IVOO and VOOG have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IVOO vs. VOOG - Dividend Comparison

IVOO's dividend yield for the trailing twelve months is around 1.19%, more than VOOG's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOO Vanguard S&P Mid-Cap 400 ETF	1.19%	1.35%	1.30%	1.25%	1.58%	1.14%	1.23%	1.49%	1.56%	1.22%	1.37%	1.45%
VOOG Vanguard S&P 500 Growth ETF	0.46%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both IVOO and VOOG in my portfolio?

IVOO and VOOG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOO or VOOG?

VOOG has higher volatility (7.23%) compared to IVOO (4.73%). In terms of maximum drawdown, IVOO dropped -42.33% vs VOOG's -32.73%.

Which ETF is better, IVOO or VOOG?

On 10-year performance, VOOG leads with 18.00% vs 11.59% for IVOO. Both ETFs have the same 0.07% expense ratio. On volatility, IVOO has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVOO or VOOG?

Over the 10-year period, VOOG has performed better with a 18.00% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVOO or VOOG?

IVOO and VOOG have the same expense ratio: 0.07% per year.

Which ETF pays a higher dividend yield, IVOO or VOOG?

IVOO has the higher dividend yield at 1.19%, compared with 0.46% for VOOG.

What is the main difference between IVOO and VOOG?

IVOO is categorized as Mid Cap Blend Equities, while VOOG is S&P 500. IVOO tracks S&P MidCap 400 Index, while VOOG tracks S&P 500 Growth Index.

Which has better risk-adjusted returns?

IVOO currently has the higher Sharpe Ratio (1.59 vs 1.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.