VTWG vs. VONG

Last updated Jun 24, 2026

VTWG (Vanguard Russell 2000 Growth ETF) and VONG (Vanguard Russell 1000 Growth ETF) are both exchange-traded funds - VTWG is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while VONG is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 10 years, VTWG returned 12.12%/yr vs 18.39%/yr for VONG. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.

Performance

VTWG vs. VONG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth ETF (VTWG) and Vanguard Russell 1000 Growth ETF (VONG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWG achieves a 20.43% return, which is significantly higher than VONG's 1.56% return. Over the past 10 years, VTWG has underperformed VONG with an annualized return of 12.12%, while VONG has yielded a comparatively higher 18.39% annualized return.

VTWG

• 1D: -1.45%
• 1M: 4.36%
• YTD: 20.43%
• 6M: 16.97%
• 1Y: 40.10%
• 3Y*: 19.34%
• 5Y*: 5.29%
• 10Y*: 12.12%

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%

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

VTWG vs. VONG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	20.43%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	22.27%
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%

Correlation

The correlation between VTWG and VONG is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.79

The correlation between VTWG and VONG has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.

VTWG vs. VONG - Sectors Allocation Comparison

Sectors	VTWG	VONG
Technology	25.8%	54.1%
Industrials	23.1%	4.9%
Healthcare	22.0%	6.9%
Financial Services	7.8%	4.8%
Consumer Cyclical	7.1%	12.5%
Basic Materials	4.0%	0.3%
Energy	3.1%	0.4%
Consumer Defensive	2.3%	2.5%
Communication Services	2.2%	12.0%
Real Estate	2.0%	0.4%
Utilities	0.6%	1.0%

Return for Risk

VTWG vs. VONG — Risk / Return Rank

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

VTWG

VTWG Risk / Return Rank: 54
VTWG Sharpe Ratio Rank: 56
VTWG Sortino Ratio Rank: 54
VTWG Omega Ratio Rank: 48
VTWG Calmar Ratio Rank: 57
VTWG Martin Ratio Rank: 57

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

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.

VTWG vs. VONG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth ETF (VTWG) and Vanguard Russell 1000 Growth ETF (VONG). 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.

	VTWG	VONG	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.12	+0.68
Sortino ratio: Return per unit of downside risk	2.48	1.58	+0.90
Omega ratio: Gain probability vs. loss probability	1.30	1.20	+0.10
Calmar ratio: Return relative to maximum drawdown	2.71	1.12	+1.59
Martin ratio: Return relative to average drawdown	9.72	3.64	+6.08

VTWG vs. VONG - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.80, which is higher than the VONG Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of VTWG and VONG, 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

VTWG vs. VONG - Drawdown Comparison

The maximum VTWG drawdown since its inception was -42.07%, which is greater than VONG's maximum drawdown of -32.72%. Use the drawdown chart below to compare losses from any high point for VTWG and VONG.

Drawdown Indicators

	VTWG	VONG	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-32.72%	-9.35%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-16.23%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-23.27%	-5.31%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-32.72%	-7.77%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-32.72%	-9.35%
Current Drawdown Current decline from peak	-1.45%	-6.82%	+5.37%
Average Drawdown Average peak-to-trough decline	-10.50%	-4.88%	-5.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	4.97%	-0.83%

Volatility

VTWG vs. VONG - Volatility Comparison

Vanguard Russell 2000 Growth ETF (VTWG) has a higher volatility of 7.82% compared to Vanguard Russell 1000 Growth ETF (VONG) at 6.04%. This indicates that VTWG's price experiences larger fluctuations and is considered to be riskier than VONG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWG	VONG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.82%	6.04%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	16.92%	12.59%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	22.34%	16.17%	+6.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	21.45%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	20.92%	+3.35%

VTWG vs. VONG - Expense Ratio Comparison

Both VTWG and VONG have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VTWG vs. VONG - Dividend Comparison

VTWG's dividend yield for the trailing twelve months is around 0.59%, more than VONG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VTWG Vanguard Russell 2000 Growth ETF	0.59%	0.64%	0.55%	0.79%	0.71%	0.54%	0.48%	0.72%	0.72%	0.64%	0.96%	0.72%

Frequently Asked Questions

Can I hold both VTWG and VONG in my portfolio?

VTWG and VONG have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWG or VONG?

VTWG has higher volatility (7.82%) compared to VONG (6.04%). In terms of maximum drawdown, VTWG dropped -42.07% vs VONG's -32.72%.

Which ETF is better, VTWG or VONG?

On 10-year performance, VONG leads with 18.39% vs 12.12% for VTWG. Both ETFs have the same 0.06% expense ratio. 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, VTWG or VONG?

Over the 10-year period, VONG has performed better with a 18.39% return vs 12.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTWG or VONG?

VTWG and VONG have the same expense ratio: 0.06% per year.

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

VTWG has the higher dividend yield at 0.59%, compared with 0.47% for VONG.

What is the main difference between VTWG and VONG?

VTWG is categorized as Small Cap Growth Equities, while VONG is Large Cap Growth Equities. VTWG tracks Russell 2000 Growth Index, while VONG tracks Russell 1000 Growth Index.

Which has better risk-adjusted returns?

VTWG currently has the higher Sharpe Ratio (1.80 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.