At a glance
VTWG charges 0.1% a year, below the 0.14% average of the 8 funds most like it (the 6th cheapest of 9). It has $1.68B in assets, the 5th largest of that group; it paid 0.68% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +6.6% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +21.0% a year. At its worst it fell 40.4% in the 2020 crash (S&P 500: 33.7%) and 34.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 28 months after the lows. Its ten largest positions make up 14.0% of the fund, out of 1,130 in all.
The short version
Vanguard Russell 2000 Growth ETF (VTWG) is an index fund that tracks the Russell 2000 Growth Index. As of May 31, 2026, it held about 1,130 small US companies classed as growth stocks. Its 0.10% yearly fee is well below the 0.24% charged by iShares Russell 2000 Growth ETF (IWO), the fund with the most similar holdings. It pays little income and swings sharply: at its worst, it fell 42.1%.
Price history
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VTWG +6.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VTWG official prospectus, to Dec 31, 2024 | — | +15.17% | — | +6.88% | +8.12% | — |
| VTWG price data to Oct 27, 2026 | +9.9% | +6.6% | +21.0% | +4.2% | +10.6% | +11.2% |
- Over the year to Oct 27, 2026, VTWG returned +6.6%, 8th of 9 among similar funds.
- Its 5-year annualized return was +4.2% and its 10-year +10.6%.
- In the 2020 COVID crash it fell 40.4% and regained its old high 4.7 months after the low.
- Its worst full calendar year was 2022 (-26.5%); its best was 2013 (+43.4%).
- The deepest fall in its price history was 42.1% (Feb 9, 2021 to Jun 16, 2022), recovered by Oct 6, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +9.9% | — |
| 2025 | +13.1% | — |
| 2024 | +15.2% | +15.17% |
| 2023 | +18.9% | +18.73% |
| 2022 | -26.5% | -26.35% |
| 2021 | +2.9% | +2.82% |
| 2020 | +34.7% | +34.70% |
| 2019 | +28.8% | +28.59% |
| 2018 | -9.4% | -9.31% |
| 2017 | +22.3% | — |
| 2016 | +10.5% | — |
| 2015 | -1.1% | — |
| 2014 | +6.2% | — |
| 2013 | +43.4% | — |
| 2012 | +14.3% | — |
| 2011 | -3.3% | — |
| 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 38.5% over that stretch · deepest drop along the way 40.4%, back to its old high 4.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 29.5% over that stretch · deepest drop along the way 34.5%, back to its old high 28 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0800 | |
| 2025 | $1.5200 | +28.8% |
| 2024 | $1.1800 | -19.2% |
| 2023 | $1.4600 | +32.7% |
| 2022 | $1.1000 | -4.3% |
| 2021 | $1.1500 | +13.9% |
| 2020 | $1.0100 | -10.6% |
| 2019 | $1.1300 | +28.4% |
| 2018 | $0.8800 | +0.6% |
| 2017 | $0.8750 | -18.3% |
| 2016 | $1.0710 | +45.7% |
| 2015 | $0.7350 | +14.7% |
| 2014 | $0.6410 | +16.8% |
| 2013 | $0.5490 | -2.3% |
| 2012 | $0.5620 | +203.8% |
| 2011 | $0.1850 |
What's inside
As of May 31, 2026, the fund held 1,130 securities; the ten largest made up 14% of assets.
| Holding | Weight | |
|---|---|---|
| Bloom Energy Corp | 3.48% | |
| Credo Technology Group Holding Ltd | 2.13% | |
| Sterling Infrastructure Inc | 1.43% | |
| Fabrinet | 1.32% | |
| IonQ Inc | 1.13% | |
| Nextpower Inc | 1.02% | |
| Guardant Health Inc | 0.90% | |
| SiTime Corp | 0.89% | |
| Rambus Inc | 0.88% | |
| Dycom Industries Inc | 0.83% | |
| Modine Manufacturing Co | 0.82% | |
| Semtech Corp | 0.79% | |
| Planet Labs PBC | 0.77% | |
| DigitalOcean Holdings Inc | 0.66% | |
| Kratos Defense & Security Solutions Inc | 0.65% |
By country
United States 99.63%By asset type
Stocks 99.63%What changed recently
- Over the three months to May 31, 2026, investors added a net $44.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -6.29%, +14.70%, +5.84%.
How it works
VTWG is the exchange-traded share class of Vanguard Russell 2000 Growth Index Fund. It doesn't pick stocks. It tries to copy the Russell 2000 Growth Index, which measures small-capitalization growth stocks in the United States. "Small-cap" means a company's total stock market value is small compared with the giants. "Growth" stocks are companies valued for expected expansion more than for current earnings or dividends. The fund invests in all, or nearly all, of the index's stocks and holds each one in about the same proportion as the index does. It must keep at least 80% of net assets in index stocks.
Because the weights follow the index, no single company dominates. As of May 31, 2026, the 10 largest positions made up about 14% of the fund. The largest were Bloom Energy (3.5%), Credo Technology (2.1%), Sterling Infrastructure (1.4%), Fabrinet (1.3%) and IonQ (1.1%). Cash was about 2%. A few small derivative positions added up to roughly 0.04% of assets. These were Russell 2000 futures and total return swaps, which are contracts that pay the return of a stock without buying it. The fund changes holdings when the index does, and portfolio turnover was 28% a year.
Shares trade on Nasdaq at market prices, which can differ slightly from the value of the fund's holdings.
What it really costs
- VTWG charges 0.1% a year, versus an average of 0.14% for the similar funds below (6th 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).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VTWG | $10 | $32 | $56 | $128 |
In a retirement portfolio
It holds a narrow, volatile slice of the US market, small growth companies, and pays little income, so it fits better as a small add-on than as a foundation.
VTWG adds smaller, younger US companies that large-company funds own little of. It costs little to hold: $10 in the first year on $10,000 in the SEC's standard example. It pays little income, though. The yield was 0.68% as of October 27, 2026, paid quarterly. Volatility is the main thing to watch. The fund fell 40.4% in early 2020 and recovered in under five months. It fell 34.5% in the 2022 bear market and took 28 months to recover. Its worst calendar year was 2022, at -26.35%. Its deepest drop, 42.1% from February 2021 to June 2022, didn't fully recover until October 6, 2025. The fund launched in 2010, so it has no 2008 record. Anyone who needed to sell during those stretches would have locked in losses. 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 a low-cost way to add small US growth companies, at 0.10% a year versus 0.24% for IWO.
- Long-term holders who can sit through deep drops, like the 42.1% decline from 2021 to 2022 that took until October 2025 to recover.
- People who want broad diversification within small caps: about 1,130 stocks, with the top 10 making up roughly 14% as of May 31, 2026.
Look elsewhere if
- Retirees who need income from their investments: the yield was just 0.68% as of October 27, 2026.
- Investors who want all small companies, both growth and value: Vanguard Russell 2000 ETF (VTWO) covers that broader index for 0.07%.
- Anyone likely to sell in a downturn: the fund lost 26.35% in 2022 and needed 28 months to recover.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VTWG this fund | — | 0.1% | $1.68B | +6.6% | +21.0% |
| IWO iShares Russell 2000 Growth ETF | 55% | 0.24% | $15.43B | +6.0% | +18.8% |
| PSC Principal U.S. Small-Cap ETF | 43% | 0.38% | $2.33B | +19.6% | +22.8% |
| IWM iShares Russell 2000 ETF | 37% | 0.19% | $82.97B | +14.5% | +19.3% |
| VTWO Vanguard Russell 2000 ETF | 37% | 0.07% | $17.95B | +15.4% | +21.2% |
| RSSL Global X Russell 2000 ETF | 36% | 0.08% | $1.49B | +13.2% | — |
| BBSC JPMorgan BetaBuilders U.S. Small Cap Equity… | 36% | 0.09% | $696.0M | +13.5% | +22.6% |
| BKSE BNY Mellon US Small Cap Core Equity ETF | 35% | 0.04% | $87.3M | +14.9% | +21.3% |
Questions investors ask
What's the difference between VTWG and IWO?
The main difference is cost. VTWG charges 0.10% a year, while iShares Russell 2000 Growth ETF (IWO) charges 0.24%. Both focus on Russell 2000 growth stocks, and their holdings overlapped by 55% in the latest N-PORT filings. IWO is much larger, with $15.4 billion in net assets as of June 30, 2026. VTWG's fund had $1.68 billion across all share classes as of May 31, 2026. Over one year, IWO returned 9.3% through October 29, 2026, and VTWG returned 6.6% through October 27.
Does VTWG pay dividends?
Yes, VTWG pays dividends quarterly, but they are small. Over the 12 months to October 27, 2026, it paid about $1.75 per share, a yield of 0.68%. The low payout comes from what it owns. Growth companies tend to put their profits back into research and expansion instead of paying them out. Investors who rely on a portfolio for regular income usually need other holdings to supply most of it.
What are VTWG's top holdings?
As of May 31, 2026, VTWG's largest holdings were Bloom Energy (3.5%), Credo Technology (2.1%), Sterling Infrastructure (1.4%), Fabrinet (1.3%) and IonQ (1.1%). Guardant Health, SiTime, Rambus and Dycom Industries were also in the top group. The fund held about 1,130 stocks, and the top 10 made up roughly 14% of assets. The holdings follow the Russell 2000 Growth Index, so they change when the index changes.
What is VTWG's expense ratio?
VTWG's expense ratio is 0.10%, according to its prospectus filed December 19, 2025. The expense ratio is the yearly fee taken from fund assets, and it includes a 0.08% management fee. The average for its group of similar funds is 0.14%, and VTWG ranks 6th of 9 on cost. In the SEC's standard example, $10,000 earning 5% a year would cost $10 in one year, $56 over five years and $128 over ten.
How much did VTWG lose in 2022?
VTWG lost 26.35% in 2022, its worst calendar year in the prospectus record. From its January 3, 2022 high, it fell 34.5% by June 16, 2022, and it didn't recover that level until October 16, 2024, about 28 months later. Measured from the February 2021 peak, the drop was 42.1%, and the fund recovered fully on October 6, 2025. Small growth stocks have tended to fall harder than the broad market.