At a glance
VONG charges 0.07% a year, below the 0.11% average of the 8 funds most like it (the 4th cheapest of 9). It has $54.28B in assets, the 4th largest of that group; it paid 0.48% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −2.3% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +22.4% a year. At its worst it fell 31.7% in the 2020 crash (S&P 500: 33.7%) and 31.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 14 months after the lows. Its ten largest positions make up 56.9% of the fund, out of 368 in all.
The short version
Vanguard Russell 1000 Growth ETF (VONG) tracks the Russell 1000 Growth Index of large US growth stocks. It is the exchange-traded share class of Vanguard Russell 1000 Growth Index Fund. It may appeal as a low-cost way to own that index: 0.07% a year, versus 0.19% for its near-twin, iShares Russell 1000 Growth ETF (IWF). The catch is concentration: NVIDIA alone was 15.5% of assets as of August 31, 2026.
Price history
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VONG -2.3% over the year to Oct 30, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VONG official prospectus, to Dec 31, 2024 | — | +33.24% | — | +18.88% | +16.67% | — |
| VONG price data to Oct 30, 2026 | -0.2% | -2.3% | +22.4% | +10.3% | +17.6% | +16.1% |
- Over the year to Oct 30, 2026, VONG returned -2.3%, 7th of 9 among similar funds.
- Its 5-year annualized return was +10.3% and its 10-year +17.6%.
- In the 2020 COVID crash it fell 31.7% and regained its old high 2.5 months after the low.
- Its worst full calendar year was 2022 (-29.2%); its best was 2023 (+42.7%).
- The deepest fall in its price history was 32.7% (Dec 27, 2021 to Oct 14, 2022), recovered by Dec 27, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.2% | — |
| 2025 | +18.4% | — |
| 2024 | +33.2% | +33.24% |
| 2023 | +42.7% | +42.63% |
| 2022 | -29.2% | -29.18% |
| 2021 | +27.6% | +27.50% |
| 2020 | +38.3% | +38.34% |
| 2019 | +36.1% | +36.29% |
| 2018 | -1.5% | -1.62% |
| 2017 | +30.0% | — |
| 2016 | +7.0% | — |
| 2015 | +5.6% | — |
| 2014 | +12.9% | — |
| 2013 | +33.2% | — |
| 2012 | +15.2% | — |
| 2011 | +2.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.7% over that stretch · deepest drop along the way 31.7%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 31.9% over that stretch · deepest drop along the way 31.9%, back to its old high 14.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4400 | |
| 2025 | $0.5500 | -3.5% |
| 2024 | $0.5700 | +1.8% |
| 2023 | $0.5600 | +3.7% |
| 2022 | $0.5400 | +16.8% |
| 2021 | $0.4625 | -2.1% |
| 2020 | $0.4725 | +1.1% |
| 2019 | $0.4675 | +18.4% |
| 2018 | $0.3950 | -3.7% |
| 2017 | $0.4100 | +2.5% |
| 2016 | $0.4000 | +6.0% |
| 2015 | $0.3775 | +7.1% |
| 2014 | $0.3525 | +24.8% |
| 2013 | $0.2825 | -1.7% |
| 2012 | $0.2875 | +51.3% |
| 2011 | $0.1900 |
What's inside
As of Aug 31, 2026, the fund held 368 securities; the ten largest made up 56.85% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 15.47% | |
| Apple Inc | 7.46% | |
| Alphabet Inc Class A | 5.94% | |
| Microsoft Corp | 5.66% | |
| Broadcom Inc | 5.18% | |
| Alphabet Inc Class C | 4.79% | |
| Micron Technology Inc | 3.25% | |
| Tesla Inc | 3.23% | |
| Meta Platforms Inc | 3.09% | |
| Eli Lilly & Co | 2.77% | |
| Advanced Micro Devices Inc | 2.30% | |
| Visa Inc | 1.78% | |
| Mastercard Inc | 1.43% | |
| Palantir Technologies Inc | 1.24% | |
| Lam Research Corp | 1.13% |
By country
United States 99.87%By asset type
Stocks 99.87%By sector
Sectors of the companies held, for the 91.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $1.63B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.67%, -4.76%, +3.72%.
How it works
VONG is an index fund, so no manager picks stocks. It tries to match the Russell 1000 Growth Index, which measures large-cap US growth stocks: shares of big companies expected to grow faster than average. Such companies often reinvest profits rather than pay large dividends. The index decides which companies qualify and how much each weighs. The fund aims to hold all, or nearly all, of those stocks in about the same proportions. Under normal conditions it keeps at least 80% of net assets in index stocks.
That means copying the index's concentration. As of August 31, 2026, the fund had 368 holdings, yet the 10 largest made up 56.85% of assets. NVIDIA alone was 15.5%, followed by Apple (7.5%), Alphabet (5.9% and 4.8% across two share classes) and Microsoft (5.7%). Technology stocks were 51.9% of the fund. The prospectus warns that tracking the index could make the fund "nondiversified," a legal label meaning it can hold bigger stakes in single companies.
VONG is the exchange-traded share class of Vanguard Russell 1000 Growth Index Fund. It trades on Nasdaq at market prices, which can drift slightly from the value of the stocks it holds. Holdings change slowly: the prospectus reports portfolio turnover of 10%. Turnover is the portion of the portfolio replaced in a year.
What it really costs
- VONG charges 0.07% a year, versus an average of 0.11% for the similar funds below (4th of 9, cheapest first).
- Of that, 0.06% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $7 in the first year and $90 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VONG | $7 | $23 | $40 | $90 |
In a retirement portfolio
It is a low-cost index fund, but with technology at 51.9% of assets and NVIDIA alone at 15.5% as of August 31, 2026, it is a concentrated growth tilt rather than a whole-market core.
VONG could add growth potential at low cost: 0.07% a year, or $90 over 10 years on $10,000 in the SEC's standard example. The trade-off is deep drops. It launched in 2010, so it has no 2008 record. It fell 31.7% in the 2020 COVID crash, then recovered by June 8, 2020. Its deepest drop, 32.7%, ran from December 27, 2021, to October 14, 2022. It took about 14 months from that low to regain its peak. Its worst calendar year was 2022, at -29.2%.
Anyone forced to cash out shares during 2022 would have locked in large losses. Income does little to soften that. The trailing 12-month yield was 0.48% as of October 30, 2026, paid quarterly, so spending money would mostly come from cashing out shares. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want Russell 1000 Growth Index exposure for 0.07% a year, versus 0.19% for iShares Russell 1000 Growth ETF (IWF).
- Long-term holders comfortable with heavy technology exposure: technology stocks were 51.9% of assets and NVIDIA alone 15.5% as of August 31, 2026.
- Taxable-account investors who value low portfolio turnover (10%) and a 0.48% trailing yield that generates little taxable dividend income.
Look elsewhere if
- Retirees seeking income: the trailing yield was 0.48% as of October 30, 2026, paid quarterly, so it supplies little spending money.
- Anyone wanting broad diversification: as of August 31, 2026, the top 10 holdings were 56.85% of assets; energy (0.4%) and utilities (0.2%) barely registered.
- People who may need to draw on savings soon: VONG lost 29.2% in 2022 and fell 31.7% in the 2020 COVID crash.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VONG this fund | — | 0.07% | $54.28B | -2.3% | +22.4% |
| IWF iShares Russell 1000 Growth ETF | 93% | 0.19% | $128.90B | -3.7% | +20.3% |
| GGUS Marketbeta Russell 1000 Growth Equity ETF | 91% | 0.12% | $477.6M | +2.2% | — |
| IWY iShares Russell Top 200 Growth ETF | 86% | 0.2% | $16.96B | -3.4% | +20.7% |
| VUG Vanguard Growth ETF | 77% | 0.04% | $379.29B | +3.8% | +25.1% |
| VOOG Vanguard S&P 500 Growth ETF | 76% | 0.07% | $27.12B | +9.4% | +27.5% |
| ILCG iShares Morningstar Growth ETF | 76% | 0.04% | $3.11B | +6.8% | +26.4% |
| SPYG SPDR Portfolio S&P 500 Growth ETF | 76% | 0.04% | $52.99B | +7.2% | +25.3% |
Questions investors ask
What's the difference between VONG and IWF?
The main difference is cost. Both follow the same large-cap growth strategy, and their holdings overlap by 93%. VONG's expense ratio, its yearly fee as a share of assets, is 0.07% per its December 19, 2025, prospectus. iShares Russell 1000 Growth ETF (IWF) charges 0.19%. Returns through October 30, 2026, were nearly identical: -2.3% over one year and 22.4% a year over three years for VONG, versus -2.2% and 22.3% for IWF. IWF is larger, with $128.9 billion in net assets as of June 30, 2026.
Does VONG pay dividends?
Yes, but not much. VONG pays dividends quarterly. Its trailing 12-month yield (the past year's dividends divided by the share price) was 0.48% as of October 30, 2026, from $0.58 per share in dividends. The yield is low because, as the prospectus notes, growth companies tend to reinvest earnings in research and development rather than pay them out. Investors who rely on portfolio income would get little from this fund on its own.
What are VONG's top 10 holdings?
As of August 31, 2026, VONG's largest holdings were NVIDIA (15.5%), Apple (7.5%), Alphabet (5.9% and 4.8% across two share classes), Microsoft (5.7%), Broadcom (5.2%), Micron Technology (3.2%), Tesla (3.2%), Meta Platforms (3.1%) and Eli Lilly (2.8%). Together, those 10 positions made up 56.85% of assets, even though the fund had 368 holdings. Technology stocks were 51.9% of the fund, so a handful of big companies have a large effect on results.
Is VONG cheaper than VUG?
No. Vanguard Growth ETF (VUG) charges 0.04% a year, versus 0.07% for VONG. VONG ranks 4th of 9 on cost among comparable growth funds. SPDR Portfolio S&P 500 Growth ETF (SPYG) and iShares Morningstar Growth ETF (ILCG) also charge 0.04%, and the peer average is 0.11%. VUG and VONG differ in holdings too, overlapping by 77%. Over the year through October 30, 2026, VUG returned 3.8% versus -2.3% for VONG. The SEC's standard example assumes a 5% yearly return. On $10,000, it puts VONG's costs at $90 over 10 years.
What is VONG's 10-year average return?
VONG returned an average of 16.67% a year over the 10 years ended December 31, 2024, according to its prospectus, and 18.88% a year over five years. Based on share prices, it returned 17.6% a year over the 10 years through October 30, 2026, but lost 2.3% over the last 12 months of that stretch. The gains came with big swings: it lost 29.18% in 2022, then gained 42.63% in 2023. Past returns don't predict future results.