Vanguard S&P Mid-Cap 400 Growth ETF

Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) is an index fund holding the growth companies of the S&P MidCap 400, which was 242 mid-size US stocks as of May 31, 2026. Its 0.10% expense ratio is lower than the 0.15% for SPDR's MDYG and the 0.17% for iShares' IJK, two similar mid-cap growth funds. The tradeoff for growth exposure is little income: the yield was 0.57% as of October 27, 2026.

• Over the year to Oct 27, 2026, IVOG returned +11.7%, 7th of 9 among similar funds.
• Its 5-year annualized return was +6.4% and its 10-year +11.0%.
• In the 2020 COVID crash it fell 39.3% and regained its old high 4.7 months after the low.
• Its worst full calendar year was 2022 (-19.1%); its best was 2013 (+32.6%).
• The deepest fall in its price history was 39.3% (Feb 20, 2020 to Mar 23, 2020), recovered by Aug 12, 2020.

As of May 31, 2026, the fund held 242 securities; the ten largest made up 15.93% of assets.

• Over the three months to May 31, 2026, investors added a net $72.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -5.55%, +8.11%, +4.93%.

IVOG is the exchange-traded share class of Vanguard S&P Mid-Cap 400 Growth Index Fund. It tracks the S&P MidCap 400 Growth Index, which picks out the growth companies from the S&P MidCap 400 Index, a list of mid-size US firms. Vanguard does not choose stocks itself. It tries to hold all, or nearly all, of the index's stocks in roughly the same proportions as the index. At least 80% of net assets must be in index stocks.

As of May 31, 2026, the fund held 242 stocks, and the top 10 made up 15.9% of assets. The largest were Flex Ltd at 3.0%, Twilio at 1.6%, TechnipFMC at 1.5% and Curtiss-Wright at 1.5%. That spread means no single company drives results. Portfolio turnover was 38%, which reflects names entering and leaving the index as companies grow, shrink or change style.

A few mechanics are worth knowing. The shares trade on NYSE Arca at market prices, which can differ slightly from the value of the underlying stocks. Only large firms called authorized participants can create or redeem shares directly with the fund. The fund also held 0.48% in cash and small S&P MidCap 400 futures and swap positions worth about 0.01% of assets. It uses no leverage or options.

• IVOG charges 0.1% a year, versus an average of 0.12% for the similar funds below (4th of 9, cheapest first).
• Of that, 0.08% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $10 in the first year and $128 over 10 years (assuming a 5% annual return).

It adds mid-size US growth stocks a large-cap core fund holds little of, but it swings more than the market and pays very little income.

IVOG can add exposure to mid-size growth companies, but it moves more than the market. Its beta, a measure of how much a fund moves relative to the overall market, was 1.15 over the year to October 27, 2026. The fund launched in 2010, so it has no 2008 record. In the 2020 COVID crash it fell 39.3% in about a month, then recovered by August 2020, 4.7 months later. In 2022 it dropped 27.1% and took 20 months to get back, until February 2024. 2022 was also its worst calendar year, down 19.1%. Anyone selling shares for spending money during stretches like those would lock in losses. Income is small: a 0.57% yield, paid once a year. Costs are low, at $10 in the first year on $10,000 in the SEC's standard example. Past results don't predict future returns, and a plan should weigh the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.