VONG vs. MGK

Last updated Jun 24, 2026

VONG (Vanguard Russell 1000 Growth ETF) and MGK (Vanguard Mega Cap Growth ETF) are both Large Cap Growth Equities funds from Vanguard - VONG tracks the Russell 1000 Growth Index while MGK tracks the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, VONG returned 18.39%/yr vs 18.97%/yr for MGK. With a 0.98 correlation, they move nearly in lockstep. VONG charges 0.06%/yr vs 0.05%/yr for MGK.

Performance

VONG vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Growth ETF (VONG) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VONG achieves a 1.56% return, which is significantly lower than MGK's 3.65% return. Both investments have delivered pretty close results over the past 10 years, with VONG having a 18.39% annualized return and MGK not far ahead at 18.97%.

VONG

• 1D: -1.57%
• 1M: -3.99%
• YTD: 1.56%
• 6M: 0.27%
• 1Y: 18.03%
• 3Y*: 21.88%
• 5Y*: 13.07%
• 10Y*: 18.39%

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%

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

VONG vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VONG Vanguard Russell 1000 Growth ETF	1.56%	18.45%	33.20%	42.67%	-29.18%	27.60%	38.30%	36.06%	-1.53%	30.05%
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%

Correlation

The correlation between VONG and MGK is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.98

The correlation between VONG and MGK has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

VONG vs. MGK - Sectors Allocation Comparison

Sectors	VONG	MGK
Technology	54.1%	59.0%
Consumer Cyclical	12.5%	12.2%
Communication Services	12.0%	15.8%
Healthcare	6.9%	4.6%
Industrials	4.9%	1.0%
Financial Services	4.8%	4.1%
Consumer Defensive	2.5%	0.4%
Utilities	1.0%	1.0%
Real Estate	0.4%	1.1%
Energy	0.4%	-
Basic Materials	0.3%	0.6%

Return for Risk

VONG vs. MGK — Risk / Return Rank

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

VONG

VONG Risk / Return Rank: 29
VONG Sharpe Ratio Rank: 32
VONG Sortino Ratio Rank: 30
VONG Omega Ratio Rank: 30
VONG Calmar Ratio Rank: 24
VONG Martin Ratio Rank: 27

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

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.

VONG vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Growth ETF (VONG) and Vanguard Mega Cap Growth ETF (MGK). 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.

	VONG	MGK	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.26	-0.13
Sortino ratio: Return per unit of downside risk	1.58	1.76	-0.18
Omega ratio: Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.12	1.29	-0.17
Martin ratio: Return relative to average drawdown	3.64	4.31	-0.67

VONG vs. MGK - Sharpe Ratio Comparison

The current VONG Sharpe Ratio is 1.12, which is comparable to the MGK Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of VONG and MGK, 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

VONG vs. MGK - Drawdown Comparison

The maximum VONG drawdown since its inception was -32.72%, smaller than the maximum MGK drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for VONG and MGK.

Drawdown Indicators

	VONG	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-32.72%	-48.43%	+15.71%
Max Drawdown (1Y) Largest decline over 1 year	-16.23%	-16.85%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.27%	-23.36%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-36.01%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	-36.01%	+3.29%
Current Drawdown Current decline from peak	-6.82%	-7.14%	+0.32%
Average Drawdown Average peak-to-trough decline	-4.88%	-7.58%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	5.02%	-0.05%

Volatility

VONG vs. MGK - Volatility Comparison

The current volatility for Vanguard Russell 1000 Growth ETF (VONG) is 6.04%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 7.08%. This indicates that VONG experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VONG	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	7.08%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	12.59%	13.75%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	17.33%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.45%	22.80%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.92%	21.96%	-1.04%

VONG vs. MGK - Expense Ratio Comparison

VONG has a 0.06% expense ratio, which is higher than MGK's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VONG vs. MGK - Dividend Comparison

VONG's dividend yield for the trailing twelve months is around 0.47%, more than MGK's 0.34% 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%
VONG Vanguard Russell 1000 Growth ETF	0.47%	0.45%	0.55%	0.71%	0.98%	0.58%	0.77%	1.03%	1.18%	1.19%	1.48%	1.47%

Frequently Asked Questions

Can I hold both VONG and MGK in my portfolio?

With a correlation of 0.99, VONG and MGK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VONG or MGK?

MGK has higher volatility (7.08%) compared to VONG (6.04%). In terms of maximum drawdown, VONG dropped -32.72% vs MGK's -48.43%.

Which ETF is better, VONG or MGK?

On 10-year performance, MGK leads with 18.97% vs 18.39% for VONG. On fees, MGK is cheaper at 0.05% per year. On volatility, VONG has been the lower-risk option at 6.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VONG or MGK?

Over the 10-year period, MGK has performed better with a 18.97% return vs 18.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VONG or MGK?

MGK is cheaper with a 0.05% expense ratio, compared with 0.06% for VONG.

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

VONG has the higher dividend yield at 0.47%, compared with 0.34% for MGK.

What is the main difference between VONG and MGK?

VONG tracks Russell 1000 Growth Index, while MGK tracks CRSP US Mega Cap Growth Index. Their fees differ too: 0.06% for VONG and 0.05% for MGK.

Which has better risk-adjusted returns?

MGK currently has the higher Sharpe Ratio (1.26 vs 1.12), 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.