VOOG vs VUG: Returns, Drawdowns and Dividends Since 2016
VOOG (Vanguard S&P 500 Growth ETF) and VUG (Vanguard Morningstar Growth ETF) moved almost in lockstep: their daily returns had a correlation of 0.990, where 1 would mean identical. Both returned 16.8% a year with dividends reinvested from January 2016 to November 2026.
Bought on any day and held five years, VUG finished ahead 70% of the time. The extra return came with deeper falls: VUG dropped 35.6% at its worst, VOOG 32.7%.
| Measure | VOOG | VUG |
|---|---|---|
| Annual return | 16.8% | 16.8% |
| $10,000 grew to | $53,649 | $54,000 |
| Worst decline | −32.7%Oct 2022 | −35.6%Nov 2022 |
| Volatility Volatility How much the fund's daily returns swing: their standard deviation over this period, annualized with the square root of 252 trading days. | 20.5% | 21.2% |
| Sharpe ratio Sharpe ratio Return above T-bills for each unit of risk: daily returns minus the T-bill ETF BIL, averaged, divided by their standard deviation and annualized. Higher is better. T-bill funds show none. Sharpe ratio calculator | 0.76 | 0.74 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 0.5% | 0.4% |
| Best year | +35.9%2024 | +46.8%2023 |
| Worst year | −29.5%2022 | −33.1%2022 |
| Correlation between them Correlation How closely the two funds' daily returns moved together over this period: 1 means identical every day, 0 means no relation. | 0.990 | |
VOOG: Vanguard S&P 500 Growth ETFVUG: Vanguard Morningstar Growth ETF
Jan 4, 2016 to Nov 4, 2026, dividends reinvested.
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Worst declines
VOOG fell 32.7% from Dec 27, 2021 to Oct 14, 2022 and was back at its high on Mar 1, 2024. VUG fell 35.6% from Nov 19, 2021 to Nov 3, 2022 and was back at its high on Jan 23, 2024.
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Year by year
VOOG was ahead in 7 of the 11 calendar years.
| Year | VOOG | VUG | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +10.9% | +6.3% | VOOG+4.6 |
| 2025 | +22.1% | +19.4% | VOOG+2.7 |
| 2024 | +35.9% | +32.7% | VOOG+3.2 |
| 2023 | +29.9% | +46.8% | VUG+16.9 |
| 2022 | −29.5% | −33.1% | VOOG+3.7 |
| 2021 | +31.9% | +27.3% | VOOG+4.6 |
| 2020 | +33.4% | +40.2% | VUG+6.9 |
| 2019 | +30.9% | +37.0% | VUG+6.1 |
| 2018 | −0.2% | −3.3% | VOOG+3.1 |
| 2017 | +27.2% | +27.7% | VUG+0.5 |
| 2016 (from Jan 4) | +8.8% | +8.1% | VOOG+0.7 |
Held for 1, 3 or 5 years: which came out ahead
Buy on any trading day from Jan 4, 2016, hold for a set time, and see which fund ended higher. The periods overlap, so they show how much the start date mattered, not separate results.
| Hold | Days tested | Ahead more often | Median lead (pts) |
|---|---|---|---|
| 1 year | 2,474 | VOOG51% | +0.2 |
| 3 years | 1,970 | VUG74% | +3.1 |
| 5 years | 1,466 | VUG70% | +8.2 |
Median lead is the typical gap in total return across all start dates, in percentage points. The latest 5-year hold starts on Oct 27, 2021.
Dividends
Over the past 12 months VOOG paid 0.5% of its price in dividends and VUG 0.4%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | VOOG | VUG |
|---|---|---|
| 2026 (to Nov 4) | $0.29 3 payments | $0.26 3 payments |
| 2025 | $0.36 4 payments | $0.34 4 payments |
| 2024 | $0.30 4 payments | $0.32 4 payments |
| 2023 | $0.51 4 payments | $0.30 4 payments |
| 2022 | $0.33 4 payments | $0.25 4 payments |
| 2021 | $0.27 4 payments | $0.26 4 payments |
| 2020 | $0.34 4 payments | $0.28 4 payments |
| 2019 | $0.37 4 payments | $0.29 4 payments |
| 2018 | $0.30 4 payments | $0.30 4 payments |
| 2017 | $0.30 4 payments | $0.27 4 payments |
| 2016 (from Jan 4) | $0.27 4 payments | $0.26 4 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- VOOG
- Vanguard S&P 500 Growth ETF, an ETF launched Sep 9, 2010. FinLab prices start Jan 4, 2016.
- VOOG price and signal backtests
- VUG
- Vanguard Morningstar Growth ETF, an ETF launched Jan 30, 2004. FinLab prices start Jan 4, 2016.
- VUG price and signal backtests
More comparisons
Source: FinLab U.S. fund prices, Jan 4, 2016 to Nov 4, 2026, the days both funds traded. Returns use prices adjusted for dividends and splits, before taxes; annual return is compounded.
For research and education. Past returns do not guarantee future results, and this is not investment advice.