Wealthy PotVOO vs VOOG: The Whole S&P 500 or Just the Growth Half?
VOO and VOOG are both Vanguard S&P 500 funds, but they are not the same bet. VOO owns the entire S&P 500, all 500 companies across every sector. VOOG owns only the growth half of that index, the roughly 150 companies S&P classifies as growth stocks. Choosing between them is a decision about whether you want the whole market or a concentrated tilt toward its fastest-growing, most tech-heavy names. This guide compares them using figures pulled straight from Vanguard's fund documents.
The Short Answer
- Want one diversified core holding? VOO. The full S&P 500 across all sectors at 0.03% is the standard core for most long-term investors, and the steadier of the two.
- Want a concentrated tilt toward large-cap growth and can accept bigger swings? VOOG. It owns only the growth-classified S&P 500 names, has outperformed over the past decade, and carries more risk to match.
VOO is the whole market; VOOG is a growth slice of it. Most investors want VOO as a core, with VOOG only as a deliberate tilt.
VOOG Is a Slice of VOO
The key thing to understand: VOOG's holdings are a subset of VOO's. S&P splits the 500 into a growth index and a value index based on factors like sales growth and momentum. VOOG tracks the S&P 500 Growth Index, the growth-classified companies only. VOO tracks the full S&P 500, which contains both the growth and the value halves.
So VOOG is not a different universe from VOO. It is VOO with the value-classified companies removed and the remaining growth names weighted more heavily. That is why it leans hard into technology and the mega-cap leaders. For the broader idea behind this split, see our guide to growth vs value stocks.
VOO vs VOOG Side by Side
| Feature | VOO (Full S&P 500) | VOOG (S&P 500 Growth) |
|---|---|---|
| Index tracked | S&P 500 | S&P 500 Growth |
| Expense ratio | 0.03% | 0.07% |
| Number of stocks | ~506 | ~148 |
| Top 10 weight | ~37.9% | ~59.0% |
| Technology weight | Broad, all sectors | ~52% information technology |
| Inception | Sep 7, 2010 | Sep 7, 2010 |
| Net assets (ETF) | ~$979 billion | ~$26 billion |
| 10-year return (avg annual, NAV) | 15.47% | 18.01% |
| Growth of $10,000 over those 10 years (hypothetical) | $42,140 | $52,380 |
| Best for | Diversified core | Growth tilt / satellite |
The Concentration Trade-Off
Stripping out the value half leaves VOOG far more concentrated than the broad index:
How much rides on the top 10 holdings
Higher bar = more concentrated in a few companies.
VOOG holds ~148 growth names with roughly 52% in information technology; VOO holds ~506 across all sectors. Source: Vanguard fund fact sheets, Jun 30, 2026.
Nearly 60% of VOOG sits in just ten companies, most of them mega-cap technology. That concentration is the whole point, it is what drives VOOG's higher highs, and also its deeper lows when growth stocks correct.
Return and Risk, Honestly
VOOG has outreturned VOO over the past decade, about 18.0% a year versus 15.5%, because growth stocks led the market. Before you conclude VOOG is simply better, remember why: it is concentrated in the exact names that won, so it captured more of a growth-led decade, and it will give back more when that leadership reverses.
The past decade is a description, not a promise. Growth and value trade the lead in long cycles; there have been extended stretches when value beat growth and VOOG would have lagged. Buying VOOG because it won the last decade is recency bias, the trap covered in why time in the market beats timing it. VOOG is a bet that growth keeps leading; VOO is a bet on the whole market. Higher expected reward, higher risk.
Which One Fits You
Choose VOO if: you want a diversified, low-cost core holding for the long term. At 0.03% across all 500 companies and every sector, it is the efficient default and the steadier ride.
Choose VOOG if: you specifically want to tilt toward large-cap growth, you accept higher volatility, and it fits as a satellite alongside a diversified core. Just remember you are doubling down on names VOO already holds, so do not treat VOO plus VOOG as extra diversification. For an even more concentrated growth option at the same fee as VOO, see VUG vs VOO.
FAQ
Is VOO or VOOG better?
Neither is universally better. VOO is more diversified (500 stocks, all sectors, 0.03%) and steadier, making it a better core. VOOG is a concentrated growth slice of the S&P 500 that has outperformed recently but carries more risk. Most investors use VOO as a core and VOOG only as a tilt.
Is VOOG just part of VOO?
Essentially yes. VOOG holds the growth-classified companies of the S&P 500, a subset of what VOO owns. VOO holds both the growth and value halves of the index.
Should I own both VOO and VOOG?
Be careful. Because VOOG's holdings sit inside VOO, owning both overweights large-cap growth rather than adding diversification. Choose VOO for the whole market, or add VOOG deliberately if you want a growth tilt.
Why has VOOG beaten VOO?
The past decade favored large-cap growth and technology, and VOOG concentrates in exactly those names. The same concentration means it can fall harder when growth stocks correct. Past performance does not guarantee future results.
Which is better for a Roth IRA?
For most long-term investors VOO is the better core in a Roth, with broad diversification at the lowest cost. VOOG can play a smaller satellite role if you want a growth tilt and accept the added volatility.
Related comparisons: VUG vs VOO · QQQ vs VOO · VGT vs QQQ · SPY vs VOO · All ETF comparisons
Primary sources: expense ratios, indexes, holdings, sector weights, net assets, and returns are drawn from Vanguard's official fund fact sheets for VOO and VOOG, both as of June 30, 2026. For background on index investing, see the SEC's Investor.gov guide to mutual funds and ETFs.
This article is for educational purposes only and is not investment advice. Investing involves risk, including possible loss of principal, and past performance does not guarantee future results. Concentrated, style-tilted funds can be more volatile than the broad market. Expense ratios and fund assets change over time; confirm current figures on the issuer's site before investing. Consult a qualified financial professional before making investment decisions.
