VOT vs. MGK

Last updated Jul 2, 2026

VOT (Vanguard Mid-Cap Growth ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - VOT is a Mid Cap Growth Equities fund tracking the CRSP US Mid Cap Growth Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, VOT returned 12.31%/yr vs 18.92%/yr for MGK. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.

Performance

VOT vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Growth ETF (VOT) 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, VOT achieves a 9.24% return, which is significantly higher than MGK's 6.69% return. Over the past 10 years, VOT has underperformed MGK with an annualized return of 12.31%, while MGK has yielded a comparatively higher 18.92% annualized return.

VOT

• 1D: -0.78%
• 1M: 0.95%
• YTD: 9.24%
• 6M: 9.24%
• 1Y: 8.09%
• 3Y*: 14.68%
• 5Y*: 5.77%
• 10Y*: 12.31%

MGK

• 1D: 0.00%
• 1M: -4.41%
• YTD: 6.69%
• 6M: 6.69%
• 1Y: 21.76%
• 3Y*: 23.71%
• 5Y*: 13.92%
• 10Y*: 18.92%

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

VOT vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOT Vanguard Mid-Cap Growth ETF	9.24%	10.72%	16.38%	23.10%	-28.87%	20.50%	34.50%	33.76%	-5.56%	21.80%
MGK Vanguard Mega Cap Growth ETF	6.69%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between VOT and MGK is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.88

The correlation between VOT and MGK shifts across timeframes, from 0.71 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

VOT vs. MGK - Sectors Allocation Comparison

Sectors	VOT	MGK
Technology	32.5%	59.0%
Industrials	23.2%	1.0%
Consumer Cyclical	12.8%	12.2%
Healthcare	8.9%	4.6%
Financial Services	6.9%	4.1%
Real Estate	4.5%	1.1%
Communication Services	3.6%	15.8%
Utilities	3.2%	1.0%
Energy	1.9%	-
Basic Materials	1.6%	0.6%
Consumer Defensive	0.8%	0.4%

Return for Risk

VOT vs. MGK — Risk / Return Rank

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

VOT

VOT Risk / Return Rank: 16
VOT Sharpe Ratio Rank: 17
VOT Sortino Ratio Rank: 16
VOT Omega Ratio Rank: 16
VOT Calmar Ratio Rank: 15
VOT Martin Ratio Rank: 17

MGK

MGK Risk / Return Rank: 36
MGK Sharpe Ratio Rank: 39
MGK Sortino Ratio Rank: 38
MGK Omega Ratio Rank: 38
MGK Calmar Ratio Rank: 29
MGK Martin Ratio Rank: 33

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.

VOT vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Growth ETF (VOT) 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.

	VOT	MGK	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.25	-0.77
Sortino ratio: Return per unit of downside risk	0.78	1.77	-0.99
Omega ratio: Gain probability vs. loss probability	1.09	1.22	-0.13
Calmar ratio: Return relative to maximum drawdown	0.51	1.30	-0.79
Martin ratio: Return relative to average drawdown	1.51	4.25	-2.74

VOT vs. MGK - Sharpe Ratio Comparison

The current VOT Sharpe Ratio is 0.48, which is lower than the MGK Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of VOT 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

VOT vs. MGK - Drawdown Comparison

The maximum VOT drawdown since its inception was -60.16%, which is greater than MGK's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for VOT and MGK.

Drawdown Indicators

	VOT	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-60.16%	-48.43%	-11.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.96%	-16.85%	+0.89%
Max Drawdown (3Y) Largest decline over 3 years	-21.77%	-23.36%	+1.59%
Max Drawdown (5Y) Largest decline over 5 years	-37.19%	-36.01%	-1.18%
Max Drawdown (10Y) Largest decline over 10 years	-37.19%	-36.01%	-1.18%
Current Drawdown Current decline from peak	-0.78%	-4.41%	+3.63%
Average Drawdown Average peak-to-trough decline	-9.93%	-7.58%	-2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.35%	5.13%	+0.22%

Volatility

VOT vs. MGK - Volatility Comparison

The current volatility for Vanguard Mid-Cap Growth ETF (VOT) is 7.19%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 7.58%. This indicates that VOT 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

	VOT	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	7.58%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	13.85%	14.01%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.94%	17.49%	-0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.55%	22.84%	-1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	21.95%	-0.94%

VOT vs. MGK - Expense Ratio Comparison

Both VOT and MGK 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

VOT vs. MGK - Dividend Comparison

VOT's dividend yield for the trailing twelve months is around 0.60%, more than MGK's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.33%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
VOT Vanguard Mid-Cap Growth ETF	0.60%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.81%

Frequently Asked Questions

Can I hold both VOT and MGK in my portfolio?

VOT and MGK have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOT or MGK?

MGK has higher volatility (7.58%) compared to VOT (7.19%). In terms of maximum drawdown, VOT dropped -60.16% vs MGK's -48.43%.

Which ETF is better, VOT or MGK?

On 10-year performance, MGK leads with 18.92% vs 12.31% for VOT. Both ETFs have the same 0.05% expense ratio. On volatility, VOT has been the lower-risk option at 7.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VOT or MGK?

Over the 10-year period, MGK has performed better with a 18.92% return vs 12.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VOT or MGK?

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

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

VOT has the higher dividend yield at 0.60%, compared with 0.33% for MGK.

What is the main difference between VOT and MGK?

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

Which has better risk-adjusted returns?

MGK currently has the higher Sharpe Ratio (1.25 vs 0.48), 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.