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Relative Intelligence · US Large-Cap Growth

How Vanguard Morningstar Growth ETF (VUG) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VUG alone. It places VUG (Vanguard Morningstar Growth ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where VUG stands in the market, and of the alternatives worth a closer look.

Period covered: VUG's full trading record, from January 2004 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against VUG →Chart VUG vs. 22 alternatives →
On this page12 sections

Key findings

How much would $10,000 in VUG have grown?

This chart tracks a hypothetical $10,000 investment in VUG over the past 22 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VUG over the same span and VUG's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: VUG began trading on January 30, 2004, so the chart cannot reach back to the dot-com bust. It covers the most recent 22 years of VUG's record, starting at the end of September 2004.

Choose a period

From the end of September 2004 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 305 of the 1,487 stocks and funds worth at least $500 million that traded the whole period ended ahead of VUG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000200420082012201620202024$10,000$20,000$50,000$100,000$200,0002004201020162022
  • QQQ$249,744+2,397% total · +15.8% a year
  • MO$226,728+2,167% total · +15.2% a year
  • FAST$220,141+2,101% total · +15.1% a year
  • RY$189,945+1,799% total · +14.3% a year
  • TD$150,409+1,404% total · +13.1% a year
  • VUG$143,718+1,337% total · +12.9% a year
  • SPYG$142,455+1,325% total · +12.8% a year
  • IUSG$136,535+1,265% total · +12.6% a year
  • SPY (S&P 500)$102,174+922% total · +11.1% a year
  • VTV$76,410+664% total · +9.7% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 884 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of VUG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000202120222023202420252026$5,000$10,000$15,000$20,000$25,000202120222023202420252026
  • VLUE$22,395+124% total · +17.5% a year
  • QQQ$21,295+113% total · +16.3% a year
  • MGK$20,216+102% total · +15.1% a year
  • SPYG$20,007+100% total · +14.9% a year
  • IUS$19,997+100.0% total · +14.9% a year
  • SCHG$19,862+98.6% total · +14.7% a year
  • IUSG$19,677+96.8% total · +14.5% a year
  • AVLV$19,653+96.5% total · +14.5% a year
  • VUG$19,143+91.4% total · +13.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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VUG at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: VUG began trading on January 30, 2004, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust.

The fund

Issuer
Vanguard
Began trading
January 2004
Expense ratio
0.03%per year
Assets
$392B
Category
Broad Market

Returns

Past 1 year
+10.2%total return
Past 3 years
+100%+26.0% a year
Past 5 years
+78.6%+12.3% a year
Past 10 years
+419%+17.9% a year
Best calendar year
+46.8%2023
Worst calendar year
−38.0%2008
Losing years
3 of 21full calendar years

Risk

Volatility
22.5%typical yearly swing, 5 years
Sharpe ratio
0.63return per unit of risk, 5 years
Worst decline ever
−50.7%Oct 2007 to Mar 2009
From its all-time high
−4.3%below the peak

VUG against the whole market

Where VUG ranks among every stock and fund, and what across the market has done better.

How does VUG rank among all ETFs?

This section ranks VUG on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how VUG stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureVUGRankStanding
1-year return+10.2%1,245 of 2,485top 50%
3-year return+100%227 of 1,949top 12%
5-year return+78.6%273 of 1,560top 18%
10-year return+419%34 of 958top 4%
Volatility, 5 years22.5%1,287 of 1,560bottom 18%
Sharpe ratio, 5 years0.63661 of 1,560top 42%
Worst decline, past 10 years−35.6%372 of 951top 39%

What has beaten VUG on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). VUG sits where the dashed lines cross. Anything in the green box above and to the left earned more than VUG with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to VUG; faint dots are 51 more of the 91 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%30.0%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than VUGMPLX: +23.5% a year, volatility 18.8%TD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%RSG: +13.9% a year, volatility 18.5%NVS: +17.1% a year, volatility 20.7%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%AVDV: +13.9% a year, volatility 17.4%IOO: +15.7% a year, volatility 17.2%DFIV: +14.8% a year, volatility 16.4%TDIV: +16.2% a year, volatility 21.3%DIVB: +13.9% a year, volatility 15.4%TMFC: +13.9% a year, volatility 20.5%CRAK: +19.8% a year, volatility 20.9%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%DIVI: +13.4% a year, volatility 15.5%FFLC: +15.7% a year, volatility 16.8%EWJV: +14.9% a year, volatility 18.2%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%VSLU: +13.7% a year, volatility 16.2%CB: +15.7% a year, volatility 20.4%EPD: +16.4% a year, volatility 17.1%AFL: +19.0% a year, volatility 20.8%SDCI: +20.6% a year, volatility 18.4%ATO: +14.9% a year, volatility 18.4%FNDF: +13.6% a year, volatility 16.3%L: +14.3% a year, volatility 19.2%NI: +15.1% a year, volatility 20.3%AMLP: +16.1% a year, volatility 18.9%ITA: +14.6% a year, volatility 20.4%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%RWL: +13.7% a year, volatility 14.4%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%EWP: +19.2% a year, volatility 20.3%PWV: +13.5% a year, volatility 14.2%VFMF: +14.3% a year, volatility 17.6%DBJP: +20.9% a year, volatility 19.2%UTES: +13.6% a year, volatility 21.1%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%FDUS: +13.5% a year, volatility 20.4%QVAL: +13.7% a year, volatility 21.4%VUG: +12.3% a year, volatility 22.5%SPY (S&P 500): +12.7% a year, volatility 17.1%QQQ: +14.5% a year, volatility 23.0%IUS: +14.7% a year, volatility 14.9%IUSG: +12.9% a year, volatility 21.2%SPY: +12.7% a year, volatility 17.1%VTV: +12.1% a year, volatility 13.7%VLUE: +15.9% a year, volatility 18.4%AVLV: +14.0% a year, volatility 16.9%XLG: +13.8% a year, volatility 18.9%PVAL: +16.1% a year, volatility 15.1%JQUA: +13.6% a year, volatility 15.7%VTI: +11.5% a year, volatility 17.5%RY: +17.3% a year, volatility 18.2%WMT: +20.8% a year, volatility 22.6%DXJ: +26.6% a year, volatility 19.1%BRK-B: +13.4% a year, volatility 17.1%FAST: +15.8% a year, volatility 24.6%DYNF: +14.7% a year, volatility 17.5%JNJ: +12.7% a year, volatility 17.9%BFC: +19.0% a year, volatility 27.3%VUGSPY (S&P 500)QQQIUSIUSGSPYVTVVLUEAVLVXLGPVALJQUAVTIRYWMTDXJFASTDYNFBFC10.0%15.0%20.0%25.0%30.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than VUGMPLX: +23.5% a year, volatility 18.8%TD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%RSG: +13.9% a year, volatility 18.5%NVS: +17.1% a year, volatility 20.7%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%AVDV: +13.9% a year, volatility 17.4%IOO: +15.7% a year, volatility 17.2%DFIV: +14.8% a year, volatility 16.4%TDIV: +16.2% a year, volatility 21.3%DIVB: +13.9% a year, volatility 15.4%TMFC: +13.9% a year, volatility 20.5%CRAK: +19.8% a year, volatility 20.9%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%DIVI: +13.4% a year, volatility 15.5%FFLC: +15.7% a year, volatility 16.8%EWJV: +14.9% a year, volatility 18.2%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%VSLU: +13.7% a year, volatility 16.2%CB: +15.7% a year, volatility 20.4%EPD: +16.4% a year, volatility 17.1%AFL: +19.0% a year, volatility 20.8%SDCI: +20.6% a year, volatility 18.4%ATO: +14.9% a year, volatility 18.4%FNDF: +13.6% a year, volatility 16.3%L: +14.3% a year, volatility 19.2%NI: +15.1% a year, volatility 20.3%AMLP: +16.1% a year, volatility 18.9%ITA: +14.6% a year, volatility 20.4%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%RWL: +13.7% a year, volatility 14.4%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%EWP: +19.2% a year, volatility 20.3%PWV: +13.5% a year, volatility 14.2%VFMF: +14.3% a year, volatility 17.6%DBJP: +20.9% a year, volatility 19.2%UTES: +13.6% a year, volatility 21.1%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%FDUS: +13.5% a year, volatility 20.4%QVAL: +13.7% a year, volatility 21.4%VUG: +12.3% a year, volatility 22.5%SPY (S&P 500): +12.7% a year, volatility 17.1%QQQ: +14.5% a year, volatility 23.0%IUS: +14.7% a year, volatility 14.9%IUSG: +12.9% a year, volatility 21.2%SPY: +12.7% a year, volatility 17.1%VTV: +12.1% a year, volatility 13.7%VLUE: +15.9% a year, volatility 18.4%AVLV: +14.0% a year, volatility 16.9%XLG: +13.8% a year, volatility 18.9%PVAL: +16.1% a year, volatility 15.1%JQUA: +13.6% a year, volatility 15.7%VTI: +11.5% a year, volatility 17.5%RY: +17.3% a year, volatility 18.2%WMT: +20.8% a year, volatility 22.6%DXJ: +26.6% a year, volatility 19.1%BRK-B: +13.4% a year, volatility 17.1%FAST: +15.8% a year, volatility 24.6%DYNF: +14.7% a year, volatility 17.5%JNJ: +12.7% a year, volatility 17.9%BFC: +19.0% a year, volatility 27.3%VUGSPY (S&P 500)QQQIUSSPYVTVVLUEAVLVXLGPVALVTIRYWMTDXJFASTBFC
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than VUG?

Investments that beat VUG over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat VUG over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks VUG's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than VUG follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than VUG's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× VUG's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than VUG's.

Screen the whole market against VUG for any period in BetterThanSPYOpen these 20 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with VUG?lower diversifies moreExpenseper year
VUGVanguard Morningstar Growth ETF · this page
+12.3%22.5%0.63−35.6%+419%1.000.03%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.940.09%
Popular alternativesbest 5 shownThe investments people most often weigh against VUG. 10 of 20 passed at least one test.
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Higher return in most periods+14.5%23.0%0.71−35.1%+553%0.980.18%
IUSInvesco RAFI Strategic US ETF · Broad Market
Higher return, lower volatility+14.7%14.9%1.00−34.7%—0.790.19%
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity
Higher return in most periods+12.9%21.2%0.68−32.4%+405%0.980.04%
SPYState Street SPDR S&P 500 ETF · US Large-Cap Equity
Similar return, lower volatility+12.7%17.1%0.79−33.7%+321%0.940.09%
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Similar return, lower volatility+12.1%13.7%0.90−36.8%+235%0.610.03%
Same and neighboring categories, and shared themesbest 6 shownEverything else in US Large-Cap Growth and US Large-Cap Equity and the categories next to it (US Growth Equity, US Large-Cap Value, US Mid-Cap Equity, US Total Market, US Quality Equity), plus VUG's specific themes. 42 of 65 passed at least one test.
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return, lower volatilityHigher return in most periods+15.9%18.4%0.90−39.5%+286%0.680.15%
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst decline+14.0%16.9%0.86−19.5%—0.710.15%
XLGInvesco S&P 500 Top 50 ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst decline+13.8%18.9%0.78−30.5%+379%0.980.20%
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatility+16.1%15.1%1.07−41.3%—0.690.56%
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Higher return, lower volatility+13.6%15.7%0.89−32.9%—0.870.12%
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Similar return, lower volatility+11.5%17.5%0.71−35.0%+302%0.930.03%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 332 of 3,549 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.45—
WMTWalmart Inc. · Discount Retail
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.8%22.6%0.96−25.7%+508%0.37—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.450.48%
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst decline+13.4%17.1%0.82−29.6%+274%0.32—
FASTFastenal Company · Industrial Distribution
Higher return, similar volatilityHigher return in most periodsSmaller losses in recent crashes+15.8%24.6%0.72−30.7%+576%0.36—
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Higher return, lower volatilityHigher return in most periods+14.7%17.5%0.87−34.7%—0.950.26%
JNJJohnson & Johnson · Pharmaceuticals
Similar return, lower volatilityHigher Sharpe, smaller worst decline+12.7%17.9%0.76−27.4%+196%-0.03—
BFCBank First Corporation · Banks - Regional
Smaller losses in recent crashes+19.0%27.3%0.78−39.8%+496%0.18—
What these numbers mean for VUG
Annual return
VUG returned 12.3% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $17,900. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
VUG's volatility over the past 5 years was 22.5%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VUG's return lands within 22.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
VUG's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so VUG earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
VUG's worst fall from a peak to a low over the past 10 years was 35.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 35.6% fall takes a 55.3% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, VUG's monthly returns had a correlation of 0.94 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VUG instead: the lower it is, the more that option would diversify a VUG holding. Guide: Correlation and diversification →
Show all 91 stocks and funds worth at least $500 million that earned more than VUG with less volatility

Out of 3,633 tested over 5 years. The strongest 59 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with VUGExpense
1
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.45—
2
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.28—
3
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.450.48%
4
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.32—
5
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.40—
6
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.09—
7
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.24—
8
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.13—
9
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.950.26%
10
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.090.40%
11
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.780.13%
12
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.9%17.4%0.84−43.0%—0.550.36%
13
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.920.40%
14
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.450.27%
15
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.880.50%
16
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Same or nearby category+15.9%18.4%0.90−39.5%+286%0.680.15%
17
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.670.05%
18
TMFCMotley Fool 100 Index ETF · Broad Market
Whole market+13.9%20.5%0.74−33.1%—0.990.50%
19
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.230.61%
20
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Same or nearby category+14.0%16.9%0.86−19.5%—0.710.15%
21
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.790.70%
22
GVALCambria Global Value ETF · International
Whole market+14.4%18.7%0.82−46.8%+173%0.400.68%
23
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.580.09%
24
FFLCFidelity Fundamental Large Cap Core ETF · Broad Market
Whole market+15.7%16.8%0.95−19.7%—0.820.38%
25
EWJViShares MSCI Japan Value ETF · International
Whole market+14.9%18.2%0.86−30.1%—0.420.15%
26
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.330.40%
27
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.10—
28
VSLUApplied Finance Valuation Large Cap ETF · Broad Market
Whole market+13.7%16.2%0.88−23.8%—0.920.49%
29
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.04—
30
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.24—
31
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.20—
32
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—-0.020.80%
33
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.29—
34
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.540.25%
35
LLoews Corporation · Property & Casualty Insurance
Whole market+14.3%19.2%0.80−48.5%+180%0.23—
36
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.29—
37
AMLPAlerian MLP ETF · Energy Equity
Whole market+16.1%18.9%0.89−72.9%+91.0%0.281.01%
38
ITAiShares U.S. Aerospace & Defense ETF · Aerospace & Defense
Whole market+14.6%20.4%0.78−51.0%+258%0.440.37%
39
PNWPinnacle West Capital Corporation · Electric Utilities
Whole market+13.4%19.9%0.73−39.3%+103%0.16—
40
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.300.43%
41
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.400.95%
42
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Same or nearby category+16.1%15.1%1.07−41.3%—0.690.56%
43
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.290.60%
44
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.320.45%
45
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Same or nearby category+13.7%14.4%0.97−36.1%+287%0.730.39%
46
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Same or nearby category+13.6%15.7%0.89−32.9%—0.870.12%
47
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.970.45%
48
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.670.12%
49
EWPiShares MSCI Spain ETF · Broad Market
Whole market+19.2%20.3%0.97−46.4%+196%0.380.50%
50
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.530.55%
51
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.660.18%
52
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.600.45%
53
UTESVirtus Reaves Utilities ETF · Alternatives
Whole market+13.6%21.1%0.71−35.4%+210%0.480.49%
54
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.940.50%
55
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.750.19%
56
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.680.50%
57
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.410.50%
58
FDUSFidus Investment Corporation · Asset Management
Whole market+13.5%20.4%0.72−68.7%+260%0.51—
59
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.590.28%

VUG against its popular alternatives

The investments people most often weigh against VUG, compared period by period and year by year.

How do VUG's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at VUG, which divides the map into what did better or worse on each measure.

Green points earned more than VUG with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%28.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityVUG: 12.3% a year, volatility 22.5%SPY (S&P 500): 12.7% a year, volatility 17.1%SPYG: 13.3% a year, volatility 21.5%IUSG: 12.9% a year, volatility 21.2%SCHG: 13.2% a year, volatility 22.4%IWY: 13.0% a year, volatility 21.9%IUS: 14.7% a year, volatility 14.9%FDG: 8.8% a year, volatility 25.2%VBK: 3.2% a year, volatility 23.7%TCHP: 8.4% a year, volatility 23.7%MGK: 13.5% a year, volatility 23.0%QQQ: 14.5% a year, volatility 23.0%FBCG: 12.3% a year, volatility 26.1%VTV: 12.0% a year, volatility 13.7%VXUS: 8.3% a year, volatility 16.4%VONG: 11.9% a year, volatility 21.7%VOT: 3.6% a year, volatility 21.7%VUGSPY (S&P 500)SPYGIUSGSCHGIWYIUSFDGVBKTCHPQQQFBCGVTVVXUSVONGVOT12.5%15.0%17.5%20.0%22.5%25.0%27.5%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityVUG: 12.3% a year, volatility 22.5%SPY (S&P 500): 12.7% a year, volatility 17.1%SPYG: 13.3% a year, volatility 21.5%IUSG: 12.9% a year, volatility 21.2%SCHG: 13.2% a year, volatility 22.4%IWY: 13.0% a year, volatility 21.9%IUS: 14.7% a year, volatility 14.9%FDG: 8.8% a year, volatility 25.2%VBK: 3.2% a year, volatility 23.7%TCHP: 8.4% a year, volatility 23.7%MGK: 13.5% a year, volatility 23.0%QQQ: 14.5% a year, volatility 23.0%FBCG: 12.3% a year, volatility 26.1%VTV: 12.0% a year, volatility 13.7%VXUS: 8.3% a year, volatility 16.4%VONG: 11.9% a year, volatility 21.7%VOT: 3.6% a year, volatility 21.7%VUGSPY (S&P 500)SPYGIUSFDGVBKTCHPMGKQQQFBCGVTVVXUSVONGVOT
All figures
InvestmentAnnual returnVolatility
IUS Invesco RAFI Strategic US ETF+14.7%14.9%
QQQ Invesco QQQ Trust, Series 1+14.5%23.0%
MGK Vanguard Morningstar Mega Cap Growth ETF+13.5%23.0%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF+13.3%21.5%
SCHG Schwab U.S. Large-Cap Growth ETF+13.2%22.4%
IWY iShares Russell Top 200 Growth ETF+13.0%21.9%
IUSG iShares Core S&P U.S. Growth ETF+12.9%21.2%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
VUG This pageVanguard Morningstar Growth ETF+12.3%22.5%
FBCG Fidelity Blue Chip Growth ETF+12.3%26.1%
VTV Vanguard Morningstar Value ETF+12.0%13.7%
VONG Vanguard Russell 1000 Growth ETF+11.9%21.7%
FDG American Century Focused Dynamic Growth ETF+8.8%25.2%
TCHP T. Rowe Price Blue Chip Growth ETF+8.4%23.7%
VXUS Vanguard Total International Stock ETF+8.3%16.4%
VOT Vanguard Morningstar Mid-Cap Growth ETF+3.6%21.7%
VBK Vanguard Morningstar Small-Cap Growth ETF+3.2%23.7%
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Has VUG consistently beaten its popular alternatives?

This section compares VUG with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than VUG helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than VUG over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
VUG Vanguard Morningstar Growth ETF (this page)—−2.5%+4.0%+8.2%+9.8%+10.2%+100%+78.6%+419%22.5%0.63−35.6%0.03%$392B—
MGK QualifiedVanguard Morningstar Mega Cap Growth ETF4/5 short3/3 longAll-weather−2.6%+4.7%+9.8%+10.8%+11.9%+104%+88.2%+464%23.0%0.67−36.0%0.05%$35B95%
QQQ QualifiedInvesco QQQ Trust, Series 13/5 short3/3 long−3.2%+3.2%+11.2%+17.4%+17.9%+106%+97.2%+553%23.0%0.71−35.1%0.18%$492B91%
SPYG QualifiedState Street SPDR Portfolio S&P 500 Growth ETF3/5 short2/3 long−2.4%+4.0%+9.9%+13.9%+15.8%+110%+86.5%+418%21.5%0.69−32.7%0.04%$57B92%
VOOG QualifiedVanguard S&P 500 Growth ETF3/5 short2/3 long−2.3%+4.0%+9.9%+13.9%+15.8%+110%+86.0%+416%21.6%0.69−32.7%0.07%$28B92%
IVW QualifiediShares S&P 500 Growth ETF3/5 short2/3 long−2.4%+4.0%+9.8%+13.8%+15.7%+109%+85.3%+413%21.5%0.68−32.7%0.18%$77B92%
IUSG QualifiediShares Core S&P U.S. Growth ETF3/5 short2/3 long−2.3%+3.8%+9.4%+13.9%+15.9%+107%+83.7%+405%21.2%0.68−32.4%0.04%$33B91%
QQQM QualifiedInvesco NASDAQ 100 ETF3/5 short2/3 long−3.2%+3.3%+11.2%+17.5%+18.0%+106%+98.0%—22.9%0.71−35.0%0.15%$110B91%
SCHG Broad MarketSchwab U.S. Large-Cap Growth ETF2/5 short2/3 long−1.9%+4.2%+9.4%+9.7%+10.4%+99.2%+85.4%+451%22.4%0.67−34.5%0.04%$63B94%
IWY Broad MarketiShares Russell Top 200 Growth ETF0/5 short2/3 long−3.1%+3.1%+4.0%+4.7%+4.7%+90.1%+83.8%+466%21.9%0.67−32.7%0.20%$16B94%
IUS Broad MarketInvesco RAFI Strategic US ETF5/5 short1/3 long+2.3%+6.2%+15.5%+24.3%+28.8%+88.7%+98.2%—14.9%1.00−34.7%0.19%$987M63%
SPY Broad MarketState Street SPDR S&P 500 ETF4/5 short1/3 long−0.6%+3.9%+9.1%+13.5%+15.8%+89.3%+81.7%+321%17.1%0.79−33.7%0.09%$823B73%
FBCG Broad MarketFidelity Blue Chip Growth ETF2/5 short1/3 long−4.2%+1.7%+6.0%+11.1%+14.0%+114%+78.6%—26.1%0.58−43.5%0.57%$7.6B95%
FDG Broad MarketAmerican Century Focused Dynamic Growth ETF0/5 short1/3 long−3.5%+2.0%+0.8%+3.2%+5.4%+113%+52.4%—25.2%0.46−43.7%0.45%$457M79%
VTV Broad MarketVanguard Morningstar Value ETF4/5 short0/3 long+1.6%+4.0%+11.0%+18.2%+22.5%+77.9%+76.6%+235%13.7%0.90−36.8%0.03%$252B37%
VXUS InternationalVanguard Total International Stock ETF1/5 short0/3 long−3.9%+1.0%+0.9%+10.2%+14.6%+77.2%+48.6%+140%16.4%0.57−36.0%0.05%$666B48%
VONG Broad MarketVanguard Russell 1000 Growth ETF0/5 short0/3 long−3.0%+2.6%+3.4%+4.2%+4.1%+88.3%+75.1%+422%21.7%0.63−32.7%0.06%$56B94%
IWF Broad MarketiShares Russell 1000 Growth ETF0/5 short0/3 long−3.0%+2.6%+3.3%+4.1%+4.0%+87.7%+74.1%+416%21.8%0.62−32.7%0.18%$125B92%
VOT Broad MarketVanguard Morningstar Mid-Cap Growth ETF0/5 short0/3 long−2.0%−0.5%+2.2%+4.0%+0.1%+58.0%+19.6%+201%21.7%0.27−37.2%0.05%$33B62%
VBK Broad MarketVanguard Morningstar Small-Cap Growth ETF0/5 short0/3 long−2.6%−3.0%−1.5%+8.7%+9.7%+66.3%+17.3%+177%23.7%0.25−38.7%0.05%$43B57%
CGGR Broad MarketCapital Group Growth ETF0/5 short0/3 long−2.2%+3.9%+5.7%+5.7%+5.8%+97.0%————−28.9%0.39%$26B83%
JGRO Broad MarketJPMorgan Active Growth ETF0/5 short0/3 long−3.2%+1.4%+1.1%+1.3%+0.1%+77.8%————−22.7%0.44%$9.7B84%
TCHP Broad MarketT. Rowe Price Blue Chip Growth ETF0/5 short0/3 long−2.8%+2.7%+1.3%+1.5%+2.4%+86.0%+49.8%—23.7%0.46−42.3%0.57%$2.1B93%
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How did VUG do year by year?

This table shows each investment's total return in every full calendar year since 2005, along with where VUG ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with VUG and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: VUG began trading on January 30, 2004, so the table starts with 2005, its first full calendar year, and cannot show how it fared during the dot-com bust.

Newest year first. Green marks a year in which the fund came out ahead of VUG; gray means the two finished within a fraction of a point. The rank row places VUG among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of VUG202520242023202220212020201920182017201620152014201320122011201020092008200720062005
VUG This pageVanguard Morningstar Growth ETF—+19.4%+32.7%+46.8%−33.1%+27.4%+40.2%+37.0%−3.3%+27.8%+6.2%+3.3%+13.6%+32.6%+17.1%+1.8%+17.1%+36.3%−38.0%+12.8%+9.0%+4.8%
Rank among alternativesTop quarter in 2 of 218 of 1811 of 186 of 1812 of 169 of 163 of 133 of 138 of 125 of 1211 of 128 of 124 of 128 of 125 of 127 of 115 of 106 of 84 of 83 of 74 of 64 of 6
SPY S&P 500State Street SPDR S&P 500 ETF5 of 21+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%
MGK Vanguard Morningstar Mega Cap Growth ETF6 of 18+20.7%+32.9%+51.7%−33.6%+28.6%+40.9%+37.4%−2.9%+29.6%+6.6%+3.7%+13.6%+32.6%+17.3%+3.2%+14.6%+34.8%−36.3%———
QQQ Invesco QQQ Trust, Series 115 of 21+20.8%+25.6%+54.9%−32.6%+27.4%+48.6%+39.0%−0.1%+32.7%+7.1%+9.4%+19.2%+36.6%+18.1%+3.4%+19.9%+54.7%−41.7%+19.0%+7.2%+1.6%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF9 of 21+22.1%+36.0%+30.0%−29.4%+32.0%+33.4%+30.8%−0.1%+27.3%+6.9%+5.1%+14.8%+32.5%+14.3%+4.6%+16.3%+37.0%−37.4%+10.9%+9.0%+2.8%
IUSG iShares Core S&P U.S. Growth ETF8 of 21+21.2%+34.7%+29.3%−28.8%+31.3%+32.6%+30.6%−0.8%+27.0%+7.3%+5.0%+12.4%+34.0%+14.9%+1.9%+17.3%+36.8%−38.6%+11.3%+9.3%+5.1%
SCHG Schwab U.S. Large-Cap Growth ETF7 of 16+17.4%+34.9%+50.1%−31.8%+28.1%+39.1%+35.9%−1.3%+27.4%+8.9%+3.4%+15.9%+34.4%+16.5%−0.6%+16.6%—————
IWY iShares Russell Top 200 Growth ETF8 of 16+18.2%+34.9%+46.5%−29.9%+31.1%+39.0%+36.2%−0.7%+31.7%+6.9%+7.9%+13.4%+32.4%+14.6%+4.6%+11.9%—————
IUS Invesco RAFI Strategic US ETF2 of 7+16.9%+16.5%+20.8%−8.3%+32.2%+15.1%+29.4%——————————————
FBCG Fidelity Blue Chip Growth ETF2 of 5+18.6%+39.0%+58.0%−39.1%+21.3%————————————————
FDG American Century Focused Dynamic Growth ETF2 of 5+22.1%+45.9%+37.2%−35.7%+8.5%————————————————
VTV Vanguard Morningstar Value ETF5 of 21+15.3%+16.0%+9.3%−2.1%+26.5%+2.3%+25.7%−5.5%+17.1%+17.1%−1.0%+13.2%+33.1%+15.2%+1.1%+14.5%+19.9%−35.9%−0.1%+22.4%+7.2%
VXUS Vanguard Total International Stock ETF3 of 14+32.3%+5.1%+15.9%−16.1%+9.0%+10.7%+21.7%−14.4%+27.5%+4.8%−4.2%−4.7%+14.6%+18.6%———————
VONG Vanguard Russell 1000 Growth ETF6 of 15+18.4%+33.2%+42.7%−29.2%+27.6%+38.3%+36.0%−1.6%+30.1%+7.0%+5.6%+12.9%+33.2%+15.2%+2.4%——————
VOT Vanguard Morningstar Mid-Cap Growth ETF5 of 19+10.7%+16.4%+23.1%−28.9%+20.5%+34.5%+33.8%−5.6%+21.8%+6.9%−1.1%+13.5%+32.4%+16.0%−3.9%+29.1%+43.9%−47.3%+17.2%——
VBK Vanguard Morningstar Small-Cap Growth ETF8 of 21+8.5%+16.5%+21.4%−28.4%+5.7%+35.4%+32.7%−5.7%+21.9%+10.9%−2.6%+4.0%+38.3%+17.8%−1.6%+31.0%+42.8%−40.3%+9.9%+12.2%+8.6%
CGGR Capital Group Growth ETF0 of 3+19.8%+32.1%+42.2%——————————————————
JGRO JPMorgan Active Growth ETF0 of 3+14.7%+32.8%+37.8%——————————————————
TCHP T. Rowe Price Blue Chip Growth ETF2 of 5+18.4%+36.1%+50.1%−37.8%+18.1%————————————————
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Risk and diversification

How VUG has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were VUG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents VUG's five deepest drawdowns since it began trading in 2004, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: VUG began trading on January 30, 2004, so this list cannot include the dot-com bust. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means VUG fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringVUG fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−50.7%−54.7%Oct 2007Mar 200917 monthsFeb 201123 months
2022 bear market−35.6%−19.7%Nov 2021Nov 202212 monthsJan 202414 months
Covid crash−31.8%−33.7%Feb 2020Mar 20201 monthJun 20203 months
No named crash−22.8%−18.8%Feb 2025Apr 20252 monthsJun 20252 months
Late-2018 sell-off−22.3%−19.2%Oct 2018Dec 20182 monthsApr 20194 months

How did VUG do in stock market crashes?

This section measures how far VUG, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: VUG began trading on January 30, 2004, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than VUG.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
VUG This pageVanguard Morningstar Growth ETF—−3.5%−33.7%−31.8%−22.3%−6.2%−15.2%−18.3%−2.0%−50.7%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF3 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MGK Vanguard Morningstar Mega Cap Growth ETF2 of 8−3.3%−33.9%−31.2%−22.6%−6.3%−15.0%−16.8%−2.0%——
QQQ Invesco QQQ Trust, Series 12 of 9−3.1%−33.4%−28.6%−22.7%−6.8%−16.1%−16.1%−2.5%−53.4%−83.0%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF6 of 9−3.0%−31.3%−31.3%−20.6%−6.4%−13.4%−16.3%−2.6%−51.3%—
IUSG iShares Core S&P U.S. Growth ETF4 of 9−3.0%−30.8%−32.4%−20.7%−6.5%−14.1%−18.9%−2.1%−51.8%—
SCHG Schwab U.S. Large-Cap Growth ETF2 of 8−3.6%−32.2%−32.3%−21.6%−6.4%−16.2%−20.2%−1.8%——
IWY iShares Russell Top 200 Growth ETF4 of 8−3.1%−31.5%−30.8%−22.2%−6.5%−12.3%−15.8%−2.3%——
IUS Invesco RAFI Strategic US ETF2 of 4−3.1%−18.7%−34.5%−11.2%——————
FBCG Fidelity Blue Chip Growth ETF0 of 2−4.6%−38.8%————————
FDG American Century Focused Dynamic Growth ETF0 of 2−4.4%−37.3%————————
VTV Vanguard Morningstar Value ETF4 of 9−4.0%−17.0%−36.4%−17.3%−6.5%−11.6%−18.8%−1.1%−59.2%—
VXUS Vanguard Total International Stock ETF3 of 7−2.5%−28.4%−33.4%−15.1%−6.1%−20.2%−24.2%———
VONG Vanguard Russell 1000 Growth ETF2 of 7−3.5%−31.2%−31.7%−22.0%−6.4%−13.4%−17.8%———
VOT Vanguard Morningstar Mid-Cap Growth ETF2 of 9−5.2%−32.1%−36.2%−21.5%−6.2%−20.8%−25.0%−2.8%−60.2%—
VBK Vanguard Morningstar Small-Cap Growth ETF1 of 9−6.1%−32.8%−38.7%−25.2%−6.0%−24.1%−27.7%−2.7%−58.7%—
CGGR Capital Group Growth ETF0 of 1−4.6%—————————
JGRO JPMorgan Active Growth ETF0 of 1−4.8%—————————
TCHP T. Rowe Price Blue Chip Growth ETF0 of 2−3.8%−37.2%————————
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How closely does VUG move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares VUG with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than VUG's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
VUG This pageVanguard Morningstar Growth ETF113%108%1.041.13
QQQ Invesco QQQ Trust, Series 1118%102%1.161.13
IWY iShares Russell Top 200 Growth ETF113%102%1.101.09
MGK Vanguard Morningstar Mega Cap Growth ETF115%107%1.071.14
SPYG State Street SPDR Portfolio S&P 500 Growth ETF109%102%1.071.08
VONG Vanguard Russell 1000 Growth ETF111%104%1.071.10
SCHG Schwab U.S. Large-Cap Growth ETF114%107%1.061.12
IUSG iShares Core S&P U.S. Growth ETF109%103%1.051.08
VTV Vanguard Morningstar Value ETF86%91%0.950.86
VXUS Vanguard Total International Stock ETF76%91%0.840.82
VOT Vanguard Morningstar Mid-Cap Growth ETF95%113%0.841.12
VBK Vanguard Morningstar Small-Cap Growth ETF99%125%0.791.17
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What diversifies VUG?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with VUG's. Because such investments tend not to fall at the same time, pairing VUG with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which VUG lost money. The last two columns show a portfolio that is 80% VUG and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20222018200880/20 mix volatility80/20 mix annual return
VUG Vanguard Morningstar Growth ETF (this page)1.00+78.6%0.63−33.1%−3.3%−38.0%20.3%+13.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.33+119%1.48+3.8%−5.2%—17.0%+14.8%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.45+225%1.34+6.0%−19.8%−20.8%17.6%+16.7%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.40+101%1.04+10.4%−8.7%—17.6%+14.5%
EWP Broad MarketiShares MSCI Spain ETF0.38+140%0.97−5.2%−15.3%−36.8%18.1%+15.6%
GLD CommoditiesSPDR Gold Shares0.09+126%0.96−0.8%−1.9%+4.9%16.9%+15.3%
XLE EnergyState Street Energy Select Sector SPDR ETF0.06+177%0.93+64.4%−18.2%−39.0%17.4%+16.6%
AMLP EnergyAlerian MLP ETF0.28+111%0.89+25.5%−12.6%—17.7%+15.2%
EFV InternationaliShares MSCI EAFE Value ETF0.44+89.0%0.88−5.2%−14.7%−41.7%17.8%+14.3%

Stocks

InvestmentCorrelation5Y returnSharpe20222018200880/20 mix volatility80/20 mix annual return
VUG Vanguard Morningstar Growth ETF (this page)1.00+78.6%0.63−33.1%−3.3%−38.0%20.3%+13.9%
CAH Medical - DistributionCardinal Health, Inc.0.17+479%1.55+54.1%−24.5%−39.6%18.0%+19.1%
MCK Medical - DistributionMcKesson Corporation0.05+413%1.44+51.8%−28.4%−40.4%17.3%+18.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.13+690%1.41+86.6%−8.2%—18.3%+21.3%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.41+594%1.36+24.2%−37.5%−67.4%20.1%+21.1%
ATI Manufacturing - Metal FabricationATI Inc.0.22+1,008%1.34+87.5%−9.8%−70.0%20.6%+24.3%
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Common questions

What was VUG's worst drawdown?

VUG's deepest decline since it began trading in 2004 was 50.7%, from October 2007 to March 2009. It took 23 months from the low to climb back to its old high. Because VUG launched in January 2004, that record does not include the dot-com bust.

What were VUG's best and worst years?

Over 21 full calendar years, VUG's best year was 2023, when it returned 46.8%. Its worst was 2008, with a return of -38.0%.

Is there a better investment than VUG?

Among VUG's popular alternatives, IUS earned more than VUG with less volatility over the past 5 years: 14.7% a year at 14.9% volatility, against 12.3% a year at 22.5%. Looking beyond its popular alternatives, VLUE (US large-cap value) and AVLV (US large-cap value) earned more than VUG with less volatility over the past 5 years. VLUE returned 15.9% a year at 18.4% volatility, against 12.3% a year at 22.5%.

Is VUG more volatile than the S&P 500?

Yes. VUG's volatility over the past 5 years was 22.5%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VUG's return lands within 22.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is VUG's Sharpe ratio?

VUG's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so VUG earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is VUG with the S&P 500?

Over the past 5 years, VUG's monthly returns had a correlation of 0.94 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VUG instead: the lower it is, the more that option would diversify a VUG holding.

What are the best alternatives to VUG?

Of the 22 popular alternatives we compared, seven outperformed VUG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MGK, QQQ and SPYG.

Did VUG outperform the S&P 500?

VUG finished ahead of the S&P 500 (SPY) in 12 of 21 full calendar years. In 2025, it returned +19.4%, against +17.7% for the index.

How did VUG do in stock market crashes?

VUG fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in three. The clearest case was the 2022 bear market, when VUG fell 33.7% and the S&P 500 fell 24.5%.

What diversifies VUG?

These had a low correlation with VUG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.33), DXJ (correlation 0.45) and EMLP (correlation 0.40); among large stocks, CAH (correlation 0.17), MCK (correlation 0.05) and MPC (correlation 0.13). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to VUG

Other stocks and ETFs