When I first compared VOO and VGT, the return chart made VGT look like the obvious choice. But a higher past return only answers one question: which fund did better over that particular period? It does not tell me how much of my portfolio I want tied to one industry.
VOO spreads your investment across large US companies in many sectors. VGT concentrates on US information technology companies. Both can hold familiar names such as NVIDIA, Apple and Microsoft, but the size of those positions is very different.
Here is the updated comparison, with the old charts replaced by tables. Figures were checked on 12 October 2026; each table shows its reporting date.
VOO vs VGT at a glance
| Feature | VOO | VGT |
|---|---|---|
| Full name | Vanguard S&P 500 ETF | Vanguard Information Technology ETF |
| Benchmark | S&P 500 Index | MSCI US Investable Market Information Technology 25/50 Index |
| Market coverage | Large US companies across sectors | Large, mid-sized and small US information technology companies |
| Management style | Index tracking | Index tracking |
| Launch date | 7 September 2010 | 26 January 2004 |
| Annual expense ratio | 0.03% | 0.09% |
| Approx. annual cost per US$10,000 | US$3 | US$9 |
| Number of stocks (31 August 2026) | 505 | 318 |
| ETF net assets (30 September 2026) | About US$1.0 trillion | US$154.5 billion |
| 30-day SEC yield (30 September 2026) | 1.00% | 0.33% |
| Dividend payment schedule | Quarterly | Quarterly |
The expense ratio is the fund’s annual running cost. It is reflected in the fund’s value over time, rather than sent to you as a separate bill. The dollar examples assume a constant US$10,000 investment and exclude brokerage, currency conversion and other trading costs. VGT’s fee is now 0.09%, compared with 0.10% in the earlier version of this article.
The 30-day SEC yield is a standardised measure of recent income, expressed as an annual rate. It is not the same as the dividends paid over the past 12 months, and it is not a promised future payout. Both funds pay cash distributions, but their main attraction here is stock-market exposure.
Top 10 holdings: the same names, very different weights
A holding’s weight tells you how much of the fund is invested in it. An 8% weight means roughly US$800 of every US$10,000 invested. The tables below rank individual securities; Alphabet’s two share classes appear separately in VOO.
VOO top 10 holdings
| Rank | Holding | Weight |
|---|---|---|
| 1 | NVIDIA (NVDA) | 8.08% |
| 2 | Apple (AAPL) | 7.03% |
| 3 | Microsoft (MSFT) | 5.69% |
| 4 | Amazon (AMZN) | 3.84% |
| 5 | Alphabet Class A (GOOGL) | 3.01% |
| 6 | Broadcom (AVGO) | 2.65% |
| 7 | Alphabet Class C (GOOG) | 2.39% |
| 8 | Meta Platforms (META) | 1.90% |
| 9 | Micron Technology (MU) | 1.63% |
| 10 | Tesla (TSLA) | 1.56% |
| Combined weight | 37.78% |
VGT top 10 holdings
| Rank | Holding | Weight |
|---|---|---|
| 1 | NVIDIA (NVDA) | 17.73% |
| 2 | Apple (AAPL) | 15.79% |
| 3 | Microsoft (MSFT) | 11.51% |
| 4 | Broadcom (AVGO) | 4.52% |
| 5 | Micron Technology (MU) | 4.18% |
| 6 | Advanced Micro Devices (AMD) | 2.95% |
| 7 | Cisco Systems (CSCO) | 1.71% |
| 8 | Palantir Technologies (PLTR) | 1.61% |
| 9 | Intel (INTC) | 1.54% |
| 10 | Lam Research (LRCX) | 1.49% |
| Combined weight | 63.03% |
VGT’s top 10 securities account for 63.03% of the fund, compared with 37.78% for VOO. NVIDIA, Apple and Microsoft alone make up 45.03% of VGT. Owning hundreds of stocks therefore does not automatically mean your money is spread evenly across them.
Sector allocation: broad market versus one sector
VOO already has substantial technology exposure. VGT increases that focus: its equity mandate is information technology, rather than a mix of all stock-market sectors.
| Sector | VOO | VGT |
|---|---|---|
| Information Technology | 37.90% | 100%* |
| Financials | 12.30% | — |
| Communication Services | 9.50% | — |
| Health Care | 9.30% | — |
| Consumer Discretionary | 9.10% | — |
| Industrials | 8.30% | — |
| Consumer Staples | 4.50% | — |
| Energy | 3.50% | — |
| Utilities | 2.00% | — |
| Materials | 1.80% | — |
| Real Estate | 1.80% | — |
What is inside VGT’s technology allocation?
Even within technology, the fund is not evenly spread. Semiconductors are its largest industry allocation, followed by hardware and systems software.
| Technology industry | VGT weight |
|---|---|
| Semiconductors | 36.90% |
| Technology Hardware, Storage & Peripherals | 19.70% |
| Systems Software | 16.90% |
| Application Software | 9.10% |
| Semiconductor Materials & Equipment | 5.10% |
| Communications Equipment | 4.00% |
| Internet Services & Infrastructure | 1.90% |
| Electronic Components | 1.80% |
| IT Consulting & Other Services | 1.80% |
| Electronic Equipment & Instruments | 1.20% |
| Electronic Manufacturing Services | 1.00% |
| Technology Distributors | 0.50% |
Why some familiar “tech” companies are missing
An ETF follows its index’s industry classifications, which can differ from how we describe companies in everyday conversation. Amazon, Alphabet and Meta are absent from VGT’s published holdings even though technology is central to their businesses. VOO holds all three. VGT should therefore not be read as a fund containing every major company people associate with technology.
Performance: compare the same dates
The table below uses USD total returns based on net asset value (NAV) for both ETFs, through 30 September 2026. NAV is the value of the fund’s underlying assets per share. These figures include reinvested dividends and capital-gains distributions and are after fund expenses, but before your personal taxes and trading costs.
| Period | VOO | VGT |
|---|---|---|
| 2026 YTD — total return | 12.72% | 33.84% |
| 1 year — total return | 15.70% | 35.19% |
| 3 years — annualised | 22.85% | 35.04% |
| 5 years — annualised | 13.75% | 20.92% |
| 10 years — annualised | 15.29% | 24.72% |
Annualised means the average compounded return per year over the period. It does not mean the fund earned that percentage every year. VGT outperformed over the periods shown, but this history does not establish which fund will perform better next.
What would US$10,000 have grown to?
To put those returns into dollars, here is an illustrative US$10,000 investment held over each matching period. Each row is a separate investment ending on 30 September 2026, with dividends reinvested and no additional contributions.
| Holding period | VOO ending value | VGT ending value |
|---|---|---|
| 1 year | US$11,570 | US$13,519 |
| 3 years | US$18,541 | US$24,626 |
| 5 years | US$19,044 | US$25,852 |
| 10 years | US$41,487 | US$91,067 |
These figures replace the old 2011–2022 growth chart. They are historical illustrations, not forecasts or a promise that a new investment will grow at the same rate.
Annual returns: the path was not smooth
| Calendar year | VOO | VGT |
|---|---|---|
| 2021 | 28.66% | 30.38% |
| 2022 | -18.15% | -29.67% |
| 2023 | 26.25% | 52.67% |
| 2024 | 24.98% | 29.27% |
| 2025 | 17.84% | 21.78% |
The 2022 decline is a useful reminder of the trade-off: VOO lost 18.15%, while VGT lost 29.67%. VGT then gained more in 2023. A stronger long-term return can come with a more uncomfortable ride, especially when one sector dominates your investment.
Does it make sense to own both?
Owning VOO and VGT together increases your technology exposure. It does not simply add a separate set of companies: their largest positions overlap. The right question is how much technology concentration you want in your overall portfolio, including any individual shares or other funds you already own.
VOO or VGT: which fits the job?
| What you want | How the funds compare |
|---|---|
| Broad exposure to large US businesses | VOO covers multiple sectors and is the broader choice of these two. |
| Extra exposure to information technology | VGT provides a deliberate sector allocation, including smaller technology companies. |
| Less dependence on a few technology stocks | VOO has lower concentration in its largest holdings, though it still has substantial technology exposure. |
| Global diversification | Neither is a broad global stock fund; both focus on the US market. |
My takeaway from revisiting this comparison is that the fund’s role matters more than choosing the best-looking historical return. VOO offers the broader US starting point. VGT is a more concentrated choice for someone who deliberately wants extra information technology exposure and can live with the risks that come with it.
Updated 12 October 2026. Holdings and sector data: 31 August 2026. Performance, ETF assets and SEC yields: 30 September 2026. Fees and other fund details checked on the update date. This article provides general information, not personal investment advice.
Sources: Vanguard VOO and Vanguard VGT (fund profiles, portfolio composition, fees and performance); VOO published holdings data; VGT published holdings data.
