VUG vs VOO: Returns, Drawdowns and Dividends Since 2016
VUG (Vanguard Morningstar Growth ETF) and VOO (Vanguard S&P 500 ETF) moved almost in lockstep: their daily returns had a correlation of 0.954, where 1 would mean identical. VUG came out ahead, returning 16.8% a year with dividends reinvested from January 2016 to November 2026, against 15.1% for VOO.
Bought on any day and held five years, VUG finished ahead 90% of the time. Their worst declines were similar: 35.6% for VUG and 34.0% for VOO.
| Measure | VUG | VOO |
|---|---|---|
| Annual return | 16.8% | 15.1% |
| $10,000 grew to | $54,000 | $45,670 |
| Worst decline | −35.6%Nov 2022 | −34.0%Mar 2020 |
| 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. | 21.2% | 17.7% |
| 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 | 0.74 | 0.76 |
| 12-month yield 12-month yield Cash dividends with ex-dividend dates in the past 12 months, divided by the latest closing price. | 0.4% | 1.1% |
| Best year | +46.8%2023 | +31.4%2019 |
| Worst year | −33.1%2022 | −18.2%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. | 0.954 | |
VUG: Vanguard Morningstar Growth ETFVOO: Vanguard S&P 500 ETF
Jan 4, 2016 to Nov 4, 2026, dividends reinvested.
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Worst declines
VUG fell 35.6% from Nov 19, 2021 to Nov 3, 2022 and was back at its high on Jan 23, 2024. VOO fell 34.0% from Feb 19, 2020 to Mar 23, 2020 and was back at its high on Aug 10, 2020.
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Year by year
VUG was ahead in 7 of the 11 calendar years.
| Year | VUG | VOO | Ahead (pts) |
|---|---|---|---|
| 2026 (to Nov 4) | +6.3% | +13.4% | VOO+7.1 |
| 2025 | +19.4% | +17.8% | VUG+1.6 |
| 2024 | +32.7% | +25.0% | VUG+7.7 |
| 2023 | +46.8% | +26.3% | VUG+20.5 |
| 2022 | −33.1% | −18.2% | VOO+15.0 |
| 2021 | +27.3% | +28.8% | VOO+1.4 |
| 2020 | +40.2% | +18.3% | VUG+21.9 |
| 2019 | +37.0% | +31.4% | VUG+5.7 |
| 2018 | −3.3% | −4.5% | VUG+1.2 |
| 2017 | +27.7% | +21.8% | VUG+5.9 |
| 2016 (from Jan 4) | +8.1% | +13.8% | VOO+5.6 |
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 | VUG73% | +2.8 |
| 3 years | 1,970 | VUG75% | +10.2 |
| 5 years | 1,466 | VUG90% | +18.7 |
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 VUG paid 0.4% of its price in dividends and VOO 1.1%. The returns above already include them, reinvested on each ex-dividend date.
Dividends per share by year
| Year | VUG | VOO |
|---|---|---|
| 2026 (to Nov 4) | $0.26 3 payments | $5.66 3 payments |
| 2025 | $0.34 4 payments | $7.07 4 payments |
| 2024 | $0.32 4 payments | $6.70 4 payments |
| 2023 | $0.30 4 payments | $6.36 4 payments |
| 2022 | $0.25 4 payments | $5.95 4 payments |
| 2021 | $0.26 4 payments | $5.44 4 payments |
| 2020 | $0.28 4 payments | $5.30 4 payments |
| 2019 | $0.29 4 payments | $5.57 4 payments |
| 2018 | $0.30 4 payments | $4.74 4 payments |
| 2017 | $0.27 4 payments | $4.37 4 payments |
| 2016 (from Jan 4) | $0.26 4 payments | $4.14 4 payments |
Per share in today's shares (earlier amounts are restated for share splits), by ex-dividend date.
The two funds
- VUG
- Vanguard Morningstar Growth ETF, an ETF launched Jan 30, 2004. FinLab prices start Jan 4, 2016.
- VUG price and signal backtests
- VOO
- Vanguard S&P 500 ETF, an ETF launched Sep 7, 2010. FinLab prices start Jan 4, 2016.
- VOO 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.