MGK vs. MGV

Last updated Jun 24, 2026

MGK (Vanguard Mega Cap Growth ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. Both are passively managed. Over the past 10 years, MGK returned 18.97%/yr vs 13.34%/yr for MGV. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.

Performance

MGK vs. MGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Growth ETF (MGK) and Vanguard Mega Cap Value ETF (MGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGK achieves a 3.65% return, which is significantly lower than MGV's 15.89% return. Over the past 10 years, MGK has outperformed MGV with an annualized return of 18.97%, while MGV has yielded a comparatively lower 13.34% annualized return.

MGK

• 1D: -2.12%
• 1M: -3.93%
• YTD: 3.65%
• 6M: 2.34%
• 1Y: 21.62%
• 3Y*: 23.33%
• 5Y*: 13.84%
• 10Y*: 18.97%

MGV

• 1D: -0.82%
• 1M: 3.65%
• YTD: 15.89%
• 6M: 15.48%
• 1Y: 28.43%
• 3Y*: 19.53%
• 5Y*: 12.99%
• 10Y*: 13.34%

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

MGK vs. MGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGK Vanguard Mega Cap Growth ETF	3.65%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%
MGV Vanguard Mega Cap Value ETF	15.89%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%

Correlation

The correlation between MGK and MGV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.74

Over the past year, the correlation between MGK and MGV has dropped to 0.36 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

MGK vs. MGV - Sectors Allocation Comparison

Sectors	MGK	MGV
Technology	59.0%	18.5%
Communication Services	15.8%	3.2%
Consumer Cyclical	12.2%	3.4%
Healthcare	4.6%	16.0%
Financial Services	4.1%	22.8%
Real Estate	1.1%	1.2%
Utilities	1.0%	2.3%
Industrials	1.0%	13.2%
Basic Materials	0.6%	2.3%
Consumer Defensive	0.4%	11.0%
Energy	-	6.0%

Return for Risk

MGK vs. MGV — Risk / Return Rank

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

MGK

MGK Risk / Return Rank: 33
MGK Sharpe Ratio Rank: 36
MGK Sortino Ratio Rank: 34
MGK Omega Ratio Rank: 34
MGK Calmar Ratio Rank: 27
MGK Martin Ratio Rank: 31

MGV

MGV Risk / Return Rank: 87
MGV Sharpe Ratio Rank: 89
MGV Sortino Ratio Rank: 90
MGV Omega Ratio Rank: 86
MGV Calmar Ratio Rank: 84
MGV Martin Ratio Rank: 85

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.

MGK vs. MGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) and Vanguard Mega Cap Value ETF (MGV). 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.

	MGK	MGV	Difference
Sharpe ratio: Return per unit of total volatility	1.26	2.81	-1.56
Sortino ratio: Return per unit of downside risk	1.76	3.99	-2.24
Omega ratio: Gain probability vs. loss probability	1.22	1.50	-0.28
Calmar ratio: Return relative to maximum drawdown	1.29	4.45	-3.16
Martin ratio: Return relative to average drawdown	4.31	16.89	-12.58

MGK vs. MGV - Sharpe Ratio Comparison

The current MGK Sharpe Ratio is 1.26, which is lower than the MGV Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of MGK and MGV, 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

MGK vs. MGV - Drawdown Comparison

The maximum MGK drawdown since its inception was -48.43%, smaller than the maximum MGV drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for MGK and MGV.

Drawdown Indicators

	MGK	MGV	Difference
Max Drawdown Largest peak-to-trough decline	-48.43%	-56.07%	+7.64%
Max Drawdown (1Y) Largest decline over 1 year	-16.85%	-6.42%	-10.43%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-13.18%	-10.18%
Max Drawdown (5Y) Largest decline over 5 years	-36.01%	-16.54%	-19.47%
Max Drawdown (10Y) Largest decline over 10 years	-36.01%	-35.41%	-0.60%
Current Drawdown Current decline from peak	-7.14%	-0.82%	-6.32%
Average Drawdown Average peak-to-trough decline	-7.58%	-7.77%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.02%	1.69%	+3.33%

Volatility

MGK vs. MGV - Volatility Comparison

Vanguard Mega Cap Growth ETF (MGK) has a higher volatility of 7.08% compared to Vanguard Mega Cap Value ETF (MGV) at 3.49%. This indicates that MGK's price experiences larger fluctuations and is considered to be riskier than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGK	MGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	3.49%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	13.75%	7.82%	+5.93%
Volatility (1Y) Calculated over the trailing 1-year period	17.33%	10.18%	+7.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.80%	13.58%	+9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.96%	16.32%	+5.64%

MGK vs. MGV - Expense Ratio Comparison

Both MGK and MGV have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MGK vs. MGV - Dividend Comparison

MGK's dividend yield for the trailing twelve months is around 0.34%, less than MGV's 1.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.34%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
MGV Vanguard Mega Cap Value ETF	1.84%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%

Frequently Asked Questions

Can I hold both MGK and MGV in my portfolio?

MGK and MGV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGK or MGV?

MGK has higher volatility (7.08%) compared to MGV (3.49%). In terms of maximum drawdown, MGK dropped -48.43% vs MGV's -56.07%.

Which ETF is better, MGK or MGV?

On 10-year performance, MGK leads with 18.97% vs 13.34% for MGV. Both ETFs have the same 0.05% expense ratio. On volatility, MGV has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGK or MGV?

Over the 10-year period, MGK has performed better with a 18.97% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGK or MGV?

MGK and MGV have the same expense ratio: 0.05% per year.

Which ETF pays a higher dividend yield, MGK or MGV?

MGV has the higher dividend yield at 1.84%, compared with 0.34% for MGK.

What is the main difference between MGK and MGV?

MGK is categorized as Large Cap Growth Equities, while MGV is Large Cap Value Equities. MGK tracks CRSP US Mega Cap Growth Index, while MGV tracks CRSP US Mega Cap Value Index.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (2.81 vs 1.26), 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.