VOOG vs. IVOO

Last updated Jun 24, 2026

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

Performance

VOOG vs. IVOO - Performance Comparison

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

Returns By Period

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

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%

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%

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

VOOG vs. IVOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

VOOG vs. IVOO - Sectors Allocation Comparison

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

Return for Risk

VOOG vs. IVOO — Risk / Return Rank

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

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

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

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.

VOOG vs. IVOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Growth ETF (VOOG) and Vanguard S&P Mid-Cap 400 ETF (IVOO). 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.

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

VOOG vs. IVOO - Sharpe Ratio Comparison

The current VOOG Sharpe Ratio is 1.59, which is comparable to the IVOO Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of VOOG and IVOO, 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

VOOG vs. IVOO - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

VOOG vs. IVOO - Volatility Comparison

Vanguard S&P 500 Growth ETF (VOOG) has a higher volatility of 7.23% compared to Vanguard S&P Mid-Cap 400 ETF (IVOO) at 4.73%. This indicates that VOOG's price experiences larger fluctuations and is considered to be riskier than IVOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

VOOG vs. IVOO - Expense Ratio Comparison

Both VOOG and IVOO 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

VOOG vs. IVOO - Dividend Comparison

VOOG's dividend yield for the trailing twelve months is around 0.46%, less than IVOO's 1.19% 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 VOOG and IVOO in my portfolio?

VOOG and IVOO 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, VOOG or IVOO?

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

Which ETF is better, VOOG or IVOO?

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, VOOG or IVOO?

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, VOOG or IVOO?

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

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

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

What is the main difference between VOOG and IVOO?

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