At a glance
VV charges 0.03% a year, below the 0.06% average of the 8 funds most like it (the 3rd cheapest of 9). It has $73.83B in assets, the 4th largest of that group; it paid 1.03% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +12.0% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +23.8% a year. At its worst it fell 25.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low. Its ten largest positions make up 36.7% of the fund, out of 434 in all.
The short version
Vanguard Large-Cap ETF (VV) is an index fund that tracks the CRSP US Large Cap Index, a broad mix of large US companies covering roughly the top 85% of the US stock market by value. Its annual fee (expense ratio) of 0.03% is half the 0.06% average of similar funds. Its holdings overlap about 96% with S&P 500 funds such as VOO, so it behaves much like them, including a heavy tilt toward technology.
Price history
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VV +12.0% 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 | |
|---|---|---|---|---|---|---|
| VV official prospectus, to Dec 31, 2025 | — | +18.10% | — | +13.92% | +14.79% | — |
| VV price data to Oct 30, 2026 | +11.5% | +12.0% | +23.8% | +11.6% | — | +16.6% |
- Over the year to Oct 30, 2026, VV returned +12.0%, 7th of 9 among similar funds.
- Its 5-year annualized return was +11.6%.
- Its worst full calendar year was 2022 (-19.9%); its best was 2021 (+27.4%).
- The deepest fall in its price history was 25.7% (Dec 27, 2021 to Oct 12, 2022), recovered by Dec 13, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.5% | — |
| 2025 | +18.1% | +18.10% |
| 2024 | +25.3% | +25.12% |
| 2023 | +27.2% | +27.29% |
| 2022 | -19.9% | -19.68% |
| 2021 | +27.4% | +27.02% |
| 2020 | — | +20.99% |
| 2019 | — | +31.39% |
| 2018 | — | -4.44% |
| 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 25.6% over that stretch · deepest drop along the way 25.6%, back to its old high 14 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.7300 | |
| 2025 | $3.4200 | +2.7% |
| 2024 | $3.3300 | +8.1% |
| 2023 | $3.0800 | +6.6% |
| 2022 | $2.8900 | +9.5% |
| 2021 | $2.6400 |
What's inside
As of Jun 30, 2026, the fund held 434 securities; the ten largest made up 36.68% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 7.28% | |
| Apple Inc | 6.72% | |
| Microsoft Corp | 4.38% | |
| Amazon.com Inc | 3.65% | |
| Alphabet Inc Class A | 3.31% | |
| Broadcom Inc | 2.83% | |
| Alphabet Inc Class C | 2.61% | |
| Micron Technology Inc | 2.06% | |
| Meta Platforms Inc | 1.96% | |
| Tesla Inc | 1.87% | |
| Eli Lilly & Co | 1.61% | |
| Advanced Micro Devices Inc | 1.50% | |
| Berkshire Hathaway Inc | 1.40% | |
| JPMorgan Chase & Co | 1.29% | |
| Johnson & Johnson | 0.97% |
By country
United States 99.66%By asset type
Stocks 99.66%By sector
Sectors of the companies held, for the 92.1% 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 withdrew a net $85.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.55%, +5.41%, -0.90%.
How it works
VV is the exchange-traded share class of Vanguard Large-Cap Index Fund, sharing one portfolio with the fund's other share classes. It is an index fund: instead of picking stocks, it tries to match the CRSP US Large Cap Index, which covers large US companies making up about the top 85% of the US investable market by value. Normally at least 80% of net assets must be in the index's stocks, and the fund aims to hold all or nearly all of them.
Each stock gets about the same weight it has in the index, so the biggest positions drive results. As of June 30, 2026, the top 10 positions made up 36.7% of assets, led by NVIDIA (7.3%), Apple (6.7%) and Microsoft (4.4%). Technology made up 35.5%. The fund adjusts when the index changes, but trading is light: portfolio turnover, the share of holdings replaced in a year, was 3%.
If the index becomes dominated by a few stocks or one industry, the fund follows. It could then become nondiversified under the Investment Company Act of 1940, meaning a handful of stocks could sway results. VV trades on NYSE Arca at market prices that can differ from the value of its holdings. Only large firms called authorized participants create or redeem shares directly with the fund.
What it really costs
- VV charges 0.03% a year, versus an average of 0.06% for the similar funds below (3rd of 9, cheapest first).
- Of that, 0.02% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VV | $3 | $10 | $17 | $39 |
In a retirement portfolio
It holds the large US companies in the CRSP US Large Cap Index, roughly the top 85% of the US stock market by value, for 0.03% a year.
VV tracks the CRSP US Large Cap Index and could be a portfolio's main US stock holding. It lost 19.45% in the first quarter of 2020 as COVID spread, yet ended 2020 up 20.99%. Its deepest drop came in the 2022 slide: about 25.7% from its December 27, 2021, peak to October 12, 2022. It regained that peak on December 13, 2023, 14 months after the low. Its worst calendar year was 2022, down 19.68%. Drawing income by cashing out shares in such a slump locks in low prices; a cash or bond reserve can reduce that need.
Income is modest: a 1.01% yield for the 12 months to October 27, 2026, paid quarterly. It costs 0.03% a year, or $39 over 10 years on $10,000 in the SEC's standard example. Past results don't predict the future, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Long-term investors wanting large US companies in one fund for 0.03% a year, or about $39 per $10,000 over 10 years in the SEC example.
- Investors comfortable with a fund dominated by giants like NVIDIA, Apple and Microsoft; the top 10 holdings were 36.7% of assets on June 30, 2026.
- Patient investors who can ride out drops like the 25.7% slide into October 2022, which took about 14 months from the low to recover.
Look elsewhere if
- Investors who need sizable income: dividends over the 12 months through October 27, 2026 equaled 1.01% of the share price.
- Savers who may need the money within a few years: VV fell 19.68% in 2022 and stayed below its prior peak until December 2023.
- Investors already holding an S&P 500 fund: VV's holdings overlap about 96% with VOO's, so owning both adds little diversification.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VV this fund | — | 0.03% | $73.83B | +12.0% | +23.8% |
| USPX Franklin U.S. Equity Index ETF | 97% | 0.03% | $1.98B | +12.9% | +24.9% |
| SPY SPDR S&P 500 ETF Trust | 96% | 0.0945% | $781.19B | +11.5% | +21.9% |
| VOO Vanguard S&P 500 ETF | 96% | 0.03% | $1.67T | +12.4% | +23.6% |
| IVV iShares Core S&P 500 ETF | 96% | 0.03% | $888.13B | +11.5% | +22.0% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 94% | 0.2% | $2.74B | +12.6% | +24.8% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 92% | 0% | $5.47B | +13.4% | +25.4% |
| BBUS JPMorgan BetaBuilders U.S. Equity ETF | 92% | 0.02% | $8.89B | +13.0% | +24.8% |
Questions investors ask
What does Vanguard VV invest in?
VV tracks the CRSP US Large Cap Index, which covers roughly the top 85% of the US stock market by market value. As of June 30, 2026, it had 434 holdings. The largest were NVIDIA (7.3%), Apple (6.7%), Microsoft (4.4%) and Amazon (3.6%), followed by Alphabet, Broadcom, Micron Technology, Meta Platforms and Tesla. The 10 largest positions made up 36.68% of the fund and technology stocks about 35.5%, so its results depend heavily on tech companies.
What is VV's expense ratio?
VV's expense ratio, the yearly fee taken out of the fund's assets, is 0.03%, according to its prospectus filed April 28, 2026. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs would total about $3 after one year and $39 after 10 years. Similar funds average 0.06%. VOO and IVV also charge 0.03% and SPY charges 0.0945%, while BBUS (0.02%) and BKLC (0%) cost less.
Does VV pay dividends?
Yes. VV pays dividends every quarter, passing along the dividends from the companies it owns. Over the 12 months to October 27, 2026, it paid $3.59 per share, a yield of 1.01%. Yield is a year's income divided by the share price. That is modest income, so VV is mainly a way to own the growth of large US companies, not a source of high income.
What is VV's 10-year return?
VV returned an average of 14.79% a year over the 10 years through December 31, 2025, according to its prospectus. Over five years it averaged 13.92% a year, and in 2025 it gained 18.1%. Returns were uneven: it lost 19.68% in 2022 after gaining 27.02% in 2021. Over the year to October 27, 2026, its price return was 13.2%. Past returns don't predict future results.
What's the difference between VV and VOO?
The main difference is the index. VV tracks the CRSP US Large Cap Index, while VOO, also from Vanguard, follows the S&P 500. Their holdings overlap by 96%, and both charge 0.03% a year. As of October 27, 2026, VV returned 13.2% over one year versus 13.6% for VOO, and 25.1% a year over three years versus 24.9%. The Franklin U.S. Equity Index ETF (USPX) overlaps with VV even more, at 97%, for the same 0.03% fee.