VGHAX vs VONG
Vanguard Health Care Fund Admiral Shares vs Vanguard Russell 1000 Growth ETF
Which is better, VGHAX or VONG?
Each has led over a different period.
VONG has a lower expense ratio. VGHAX led over 1Y, VONG over 3Y, 5Y and the full window. VGHAX is less concentrated, with 40.8% of the fund in its ten largest positions against 54.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VGHAX | VONG |
|---|---|---|
| Expense Ratio | 0.27% | 0.06%Best |
| AUM | $32.8B | $51.6B |
| Dividend Yield | 6.15% | 0.46% |
| Holdings | 109 | 373 |
| YTD Price Return | +0.75% | +3.67%Best |
| 1Y Price Return | +13.96%Best | +6.69% |
| 3Y Price Return (annualized) | -0.66% | +20.73%Best |
| 5Y Price Return (annualized) | -2.70% | +11.22%Best |
| Volatility (annualized) | 15.3%Best | 19.3% |
| Max Drawdown | -32.7%Best | -33.2% |
| $10,000 over 5 years | $8,721 | $17,018Best |
| Top 10 Weight | 40.8%Best | 54.3% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Nov 12, 2001 | Sep 20, 2010 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for VGHAX. Both funds are measured the same way, so the comparison holds. VGHAX yields 6.15% and VONG 0.46% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 10, 2026 (5 years).
VGHAX vs VONG growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
VGHAX vs VONG Performance
Vanguard Health Care Fund Admiral Shares (VGHAX) is a mutual fund from Vanguard (US) and Vanguard Russell 1000 Growth ETF (VONG) is an ETF from Vanguard (US). Over the past year VGHAX returned +13.96% while VONG returned +6.69%. Year to date, VGHAX is up 0.75% versus a gain of 3.67% for VONG.
Over three years, VGHAX compounded at -0.66% per year against +20.73% for VONG; over five years the annualized figures are -2.70% and +11.22% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VONG has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.3% for VGHAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -32.7% for VGHAX and -33.2% for VONG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.44. They move together some of the time, and apart the rest.
Fees and Cost Over Time
VGHAX charges 0.27% per year while VONG charges 0.06%. On a $10,000 position that is $27 vs $6 annually, a gap of $21 per year that compounds over a long holding period. On income, VGHAX currently yields 6.15% against 0.46% for VONG.
Structure and taxes
VGHAX is a mutual fund and VONG is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
22.1% of VGHAX's money is in holdings VONG also owns. 4.1% of VONG's money is in holdings VGHAX also owns.
VGHAX and VONG share little of their money.
The two holdings books were reported 91 days apart, VGHAX as of Mar 31, 2026 and VONG as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
12 positions in common, counted across the 86 positions we hold weights for in VGHAX and 371 in VONG, against full books of 109 and 373.
What only one of them owns
Our book lists 291 positions for VONG that do not appear in our book for VGHAX (95.2% of the fund), and 52 for VGHAX that do not appear in VONG (50.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in VGHAX | Weight in VONG | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 9.16% | 2.83% | 6.33% |
| ISRGIntuitive Surgical Inc | 2.54% | 0.42% | 2.12% |
| CORCencora Inc | 2.02% | 0.16% | 1.86% |
| ALNYAlnylam Pharmaceuticals Inc. | 1.45% | 0.12% | 1.33% |
| CAHCardinal Health Inc. | 1.38% | 0.08% | 1.30% |
| ABBVAbbvie Inc. | 1.29% | 0.11% | 1.18% |
| DXCMDexcom Inc. | 1.04% | 0.08% | 0.96% |
| IONSIonis Pharmaceuticals Inc | 0.78% | 0.04% | 0.74% |
| RVMDRevolution Medicines Inc | 0.68% | 0.11% | 0.57% |
| ASNDAscendis Pharma A/S | 0.69% | 0.04% | 0.65% |
22.1% of VGHAX is already inside VONG.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VGHAX or VONG?
VGHAX has an expense ratio of 0.27% while VONG charges 0.06%. VONG is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, VGHAX or VONG?
Over the past year VGHAX returned +13.96% vs +6.69% for VONG, so VGHAX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VGHAX or VONG?
VONG has been the more volatile fund at 19.3% annualized versus 15.3% for VGHAX. Worst drawdown: VGHAX -32.7% vs VONG -33.2%.
Should I hold both VGHAX and VONG?
VGHAX and VONG have a monthly-return correlation of 0.44, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between VGHAX and VONG?
22.1% of VGHAX's money is in holdings VONG also owns. 4.1% of VONG's is in holdings VGHAX also owns. They hold 12 positions in common, counted across the 86 positions we hold weights for in VGHAX and 371 in VONG.
Which pays a higher dividend, VGHAX or VONG?
VGHAX yields 6.15% while VONG yields 0.46%, so VGHAX currently pays the higher dividend yield.
Is it better to hold VGHAX or VONG in a taxable account?
VONG is an ETF and VGHAX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VONG better than VGHAX?
VONG has a lower expense ratio. VGHAX led over 1Y, VONG over 3Y, 5Y and the full window. VGHAX is less concentrated, with 40.8% of the fund in its ten largest positions against 54.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.