At a glance
VOT charges 0.05% a year, below the 0.2% average of the 8 funds most like it (the 3rd cheapest of 9). It has $34.82B in assets, the 3rd largest of that group; it paid 0.62% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −0.4% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +17.4% a year. At its worst it fell 33.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 28 months after the low. Its ten largest positions make up 21.3% of the fund, out of 122 in all.
The short version
Vanguard Mid-Cap Growth ETF (VOT) is an index fund that tracks the CRSP US Mid Cap Growth Index, a basket of growth stocks of mid-size US companies such as Vertiv Holdings and Quanta Services. Its yearly fee, an expense ratio of 0.05%, is well below the 0.2% average for similar funds. The trade-offs are sharp swings and little income: it lost 28.84% in 2022 and yielded 0.61% as of October 27, 2026.
Price history
The interactive chart needs JavaScript.
VOT -0.4% 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 | |
|---|---|---|---|---|---|---|
| VOT official prospectus, to Dec 31, 2025 | — | +10.69% | — | +6.35% | +11.63% | — |
| VOT price data to Oct 30, 2026 | +3.1% | -0.4% | +17.4% | +2.9% | — | +9.8% |
- Over the year to Oct 30, 2026, VOT returned -0.4%, 8th of 9 among similar funds.
- Its 5-year annualized return was +2.9%.
- Its worst full calendar year was 2022 (-28.9%); its best was 2023 (+23.1%).
- The deepest fall in its price history was 37.2% (Nov 16, 2021 to Oct 14, 2022), recovered by Nov 8, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +3.1% | — |
| 2025 | +10.7% | +10.69% |
| 2024 | +16.4% | +16.41% |
| 2023 | +23.1% | +23.14% |
| 2022 | -28.9% | -28.84% |
| 2021 | +20.5% | +20.47% |
| 2020 | — | +34.46% |
| 2019 | — | +33.86% |
| 2018 | — | -5.60% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Jun 2, 2020 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 32.3% over that stretch · deepest drop along the way 33.1%, back to its old high 27.8 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.3000 | |
| 2025 | $1.7900 | +4.7% |
| 2024 | $1.7100 | +8.9% |
| 2023 | $1.5700 | +12.1% |
| 2022 | $1.4000 | +62.8% |
| 2021 | $0.8600 |
What's inside
As of Jun 30, 2026, the fund held 122 securities; the ten largest made up 21.31% of assets.
| Holding | Weight | |
|---|---|---|
| Vertiv Holdings Co | 2.83% | |
| Western Digital Corp | 2.42% | |
| Seagate Technology Holdings PLC | 2.38% | |
| Quanta Services Inc | 2.38% | |
| Howmet Aerospace Inc | 2.37% | |
| Datadog Inc | 1.90% | |
| Bloom Energy Corp | 1.80% | |
| Constellation Energy Corp | 1.77% | |
| Robinhood Markets Inc | 1.75% | |
| Cloudflare Inc | 1.72% | |
| Coherent Corp | 1.70% | |
| Royal Caribbean Cruises Ltd | 1.69% | |
| Teradyne Inc | 1.67% | |
| TransDigm Group Inc | 1.64% | |
| Comfort Systems USA Inc | 1.53% |
By country
United States 99.88%By asset type
Stocks 99.88%By sector
Sectors of the companies held, for the 68.1% 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 Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $4.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.57%, +4.95%, +2.76%.
How it works
Vanguard doesn't pick stocks for VOT. The fund tracks the CRSP US Mid Cap Growth Index, which the prospectus calls a broadly diversified index of growth stocks of mid-size US companies. The index provider, not Vanguard, decides which companies count as mid-size and which count as growth. Growth stocks are shares of companies expected to expand faster than average. They tend to pay small dividends because the companies reinvest earnings.
The fund aims to replicate the index. It holds all or nearly all of the index's stocks, each in about the same proportion as the index. It normally keeps at least 80% of net assets in index stocks. As of June 30, 2026, it had 122 holdings, and the 10 largest made up 21.31% of assets. The biggest were Vertiv Holdings (2.83%), Western Digital (2.42%), Seagate Technology (2.38%) and Quanta Services (2.38%). When the index changes, the fund trades to match. Turnover, the share of the portfolio bought and sold over a year, was 17% per the prospectus.
VOT is the exchange-traded share class of Vanguard Mid-Cap Growth Index Fund. The fund's $34.8 billion in net assets as of June 30, 2026, covers all share classes. VOT trades on NYSE Arca at market prices, which can differ from the value of its stocks. It doesn't use leverage or options.
What it really costs
- VOT charges 0.05% a year, versus an average of 0.2% for the similar funds below (3rd of 9, cheapest first).
- Of that, 0.04% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $5 in the first year and $64 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VOT | $5 | $16 | $28 | $64 |
In a retirement portfolio
It focuses on one slice of the US market, mid-size growth companies, pays little income and fell 37.2% at its worst between November 2021 and October 2022.
VOT could add mid-size US growth companies such as Vertiv Holdings and Quanta Services for a 0.05% yearly expense ratio. It offers little income. Dividends over the 12 months to October 27, 2026, equaled a 0.61% yield, paid quarterly. Its one-year beta was 1.23 on that date, which means it has moved more than the overall market.
Our price history for VOT starts in June 2020, so it misses the 2008 crisis and the 2020 crash. The prospectus does show a 34.46% gain for 2020 as a whole. In the 2022 bear market the fund fell 33.1%, and 2022 was its worst calendar year since at least 2018, down 28.84%. Its deepest drop was 37.2%, from November 2021 to October 2022, and it took until November 2024 to recover. Anyone who sold shares for spending during that stretch sold well below the peak. 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 mid-size US growth companies such as Vertiv, Quanta Services and Datadog in one fund at a 0.05% yearly expense ratio.
- Long-term holders who can ride out deep drops, like the 37.2% fall from November 2021 that took until November 2024 to recover.
- Those who want more growth-stock exposure alongside a broad core fund: VOT had 122 holdings, none above 2.83%, as of June 30, 2026.
Look elsewhere if
- Retirees seeking income: VOT's trailing 12-month yield was 0.61% as of October 27, 2026, paid quarterly.
- Anyone who may need to sell shares in a slump: it lost 28.84% in 2022, including a 21.18% drop in the second quarter.
- Investors wanting broader mid-size US exposure, not just growth names, may compare Vanguard Mid-Cap ETF (VO), which charges 0.04%.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VOT this fund | — | 0.05% | $34.82B | -0.4% | +17.4% |
| IMCG iShares Morningstar Mid-Cap Growth ETF | 46% | 0.06% | $3.92B | +14.6% | +22.3% |
| VO Vanguard Mid-Cap ETF | 45% | 0.04% | $224.06B | +15.5% | +20.7% |
| IWP iShares Russell Mid-Cap Growth ETF | 38% | 0.23% | $21.57B | -8.0% | +14.0% |
| IMCB iShares Morningstar Mid-Cap ETF | 29% | 0.04% | $1.66B | +18.7% | +22.2% |
| FTC First Trust Large Cap Growth AlphaDEX Fund | 28% | 0.58% | $1.32B | +6.4% | +24.5% |
| RPG Invesco S&P 500® Pure Growth ETF | 26% | 0.35% | $2.00B | +12.5% | +23.8% |
| IWR iShares Russell Midcap ETF | 25% | 0.19% | $56.98B | +16.6% | +19.3% |
Questions investors ask
What does VOT invest in?
VOT invests in growth stocks of mid-size US companies by tracking the CRSP US Mid Cap Growth Index. As of June 30, 2026, it had 122 holdings, nearly all US stocks, and its 10 largest made up 21.31% of assets. The biggest were Vertiv Holdings, Western Digital, Seagate Technology, Quanta Services and Howmet Aerospace, each about 2.4% to 2.8% of assets. Other top names included Datadog, Bloom Energy, Constellation Energy, Robinhood Markets and Cloudflare.
What is VOT's expense ratio?
VOT's expense ratio, the yearly fee taken from fund assets, is 0.05%, per the prospectus filed April 28, 2026. The SEC's standard example assumes $10,000 invested with a 5% yearly return. On that basis, fees would come to about $5 after one year and $64 over 10 years. The average for similar funds was 0.2%. iShares Russell Mid-Cap Growth ETF (IWP) charged 0.23%, and iShares Morningstar Mid-Cap Growth ETF (IMCG) charged 0.06%.
Does VOT pay dividends?
Yes, VOT pays dividends quarterly, but they are small. Over the 12 months through October 27, 2026, it paid $1.78 per share, a yield of 0.61% of the share price. That fits its growth focus. The prospectus notes that growth companies tend to reinvest earnings in research and development rather than pay them out. Investors seeking steady income would get little from this fund alone.
What's the difference between VOT and IMCG?
The two hold similar mid-size US growth stocks, but their holdings overlap by about 46%. VOT tracks the CRSP US Mid Cap Growth Index and charges 0.05%, while iShares Morningstar Mid-Cap Growth ETF (IMCG) charges 0.06%. VOT is larger: $34.8 billion across all share classes as of June 30, 2026, versus $3.9 billion for IMCG as of July 31. Through October 27, 2026, IMCG gained 14.6% over one year against VOT's 1.4% loss. Over three years it returned 22.3% a year against VOT's 18.1%.
What is VOT's 10-year average return?
VOT returned 11.63% a year on average over the 10 years through December 31, 2025, according to its prospectus. Over five years the figure was 6.35% a year, and in 2025 it gained 10.69%. The path was uneven: it rose 34.46% in 2020 and fell 28.84% in 2022. Based on market price, it lost 1.4% over the year through October 27, 2026, ranking 8th of 9 similar funds.