VTWG vs. VONG

Last updated Aug 2, 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 10.74%/yr vs 17.43%/yr for VONG. Their 0.79 correlation means they have sometimes moved together and sometimes differently. 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 15.05% return, which is significantly higher than VONG's 0.39% return. Over the past 10 years, VTWG has underperformed VONG with an annualized return of 10.74%, while VONG has yielded a comparatively higher 17.43% annualized return.

VTWG

• 1D: -0.81%
• 1M: -4.13%
• 6M: 10.63%
• YTD: 15.05%
• 1Y: 31.01%
• 3Y*: 14.60%
• 5Y*: 5.12%
• 10Y*: 10.74%
• ALL TIME*: 11.77%

VONG

• 1D: 0.84%
• 1M: -2.27%
• 6M: 1.82%
• YTD: 0.39%
• 1Y: 10.18%
• 3Y*: 19.33%
• 5Y*: 11.83%
• 10Y*: 17.43%
• ALL TIME*: 16.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VONG Vanguard Russell 1000 Growth ETF	$121.41M	$148.04M	$174.70M
VTWG Vanguard Russell 2000 Growth ETF	$5.48M	$5.24M	$5.77M

VTWG vs. VONG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	15.05%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	22.27%
VONG Vanguard Russell 1000 Growth ETF	0.39%	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 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
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
Healthcare	28.8%	5.4%
Technology	22.1%	54.3%
Industrials	15.9%	9.0%
Consumer Cyclical	8.1%	8.4%
Financial Services	8.1%	4.2%
Basic Materials	5.0%	0.3%
Energy	4.8%	0.5%
Real Estate	2.5%	0.4%
Consumer Defensive	2.3%	1.2%
Communication Services	1.9%	16.2%
Utilities	0.6%	0.3%

Return for Risk

VTWG vs. VONG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VTWG

VTWG Risk / Return Rank: 53
VTWG Sharpe Ratio Rank: 53
VTWG Sortino Ratio Rank: 54
VTWG Omega Ratio Rank: 48
VTWG Calmar Ratio Rank: 55
VTWG Martin Ratio Rank: 57

VONG

VONG Risk / Return Rank: 21
VONG Sharpe Ratio Rank: 22
VONG Sortino Ratio Rank: 21
VONG Omega Ratio Rank: 21
VONG Calmar Ratio Rank: 20
VONG Martin Ratio Rank: 22

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.27	0.46	+0.81
Sortino ratio: Return per unit of downside risk	1.86	0.75	+1.11
Omega ratio: Gain probability vs. loss probability	1.22	1.09	+0.13
Calmar ratio: Return relative to maximum drawdown	1.93	0.50	+1.44
Martin ratio: Return relative to average drawdown	6.68	1.48	+5.19

VTWG vs. VONG - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.27, which is higher than the VONG Sharpe Ratio of 0.46. 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	-5.90%	-7.89%	+1.99%
Average Drawdown Average peak-to-trough decline	-10.45%	-4.89%	-5.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	5.42%	-1.12%

Volatility

VTWG vs. VONG - Volatility Comparison

The current volatility for Vanguard Russell 2000 Growth ETF (VTWG) is 5.88%, while Vanguard Russell 1000 Growth ETF (VONG) has a volatility of 6.45%. This indicates that VTWG experiences smaller price fluctuations and is considered to be less risky 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	5.88%	6.45%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	17.31%	14.00%	+3.31%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	17.45%	+5.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.65%	21.64%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	21.01%	+3.26%

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 0.62%, more than VONG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VONG Vanguard Russell 1000 Growth ETF	0.48%	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	0.62%	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 0.70, 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?

VONG has higher volatility (6.45%) compared to VTWG (5.88%). 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 17.43% vs 10.74% for VTWG. Both ETFs have the same 0.06% expense ratio. On volatility, VTWG has been the lower-risk option at 5.88%. 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 17.43% return vs 10.74%. 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 0.62%, compared with 0.48% 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 (1.27 vs 0.46), 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.