VO vs VWO
Vanguard Mid-Cap Index Fund ETF Shares vs Vanguard Emerging Markets Stock Index Fund
Last updated: 2026-04-02
Vanguard Mid-Cap Index Fund ETF Shares (VO) is an exchange-traded fund issued by Vanguard that provides exposure to mid-cap U.S. companies balancing growth potential and stability. It charges a very low expense ratio of 0.03%. The fund offers a moderate dividend yield of 1.50%. Launched in 2004, the fund has a 22-year track record.
Vanguard Emerging Markets Stock Index Fund (VWO) is an exchange-traded fund issued by Vanguard that provides exposure to stocks in emerging market economies with higher growth potential. It charges a low expense ratio of 0.06%. The fund offers an attractive dividend yield of 2.76%. Launched in 2005, the fund has a 21-year track record.
Quick Verdict
VO has a slightly lower expense ratio (0.03% vs 0.06%), saving about $60 per $10,000 over 10 years. Over the past year, VWO has significantly outperformed with a 19.4% return vs 11.4%. Income investors may prefer VWO for its higher yield (2.8% vs 1.5%).
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
0 of top 8 holdings overlap (0% overlap in top holdings)
VO Top Holdings
| Name | Weight |
|---|---|
| Newmont CorporationNEM | 1.46% |
| Corning IncorporatedGLW | 1.20% |
| Howmet Aerospace Inc.HWM | 1.09% |
| Constellation Energy CorporationCEG | 1.06% |
| Vertiv Holdings CoVRT | 0.99% |
| Western Digital CorporationWDC | 0.99% |
| Seagate Technology Holdings plcSTX | 0.90% |
| Quanta Services, Inc.PWR | 0.87% |
| Cummins Inc.CMI | 0.83% |
| CRH plcCRH | 0.83% |
VWO Top Holdings
| Name | Weight |
|---|---|
| Taiwan Semiconductor Manufacturing Company Limited!tpe/2330 | 12.71% |
| Tencent Holdings Limited!hkg/0700 | 3.44% |
| Alibaba Group Holding Limited!hkg/9988 | 2.74% |
| HDFC Bank Limited!nse/HDFCBANK | 0.93% |
| Reliance Industries Limited!nse/RELIANCE | 0.88% |
| Hon Hai Precision Industry Co., Ltd.!tpe/2317 | 0.78% |
| MediaTek Inc.!tpe/2454 | 0.76% |
| China Construction Bank Corporation!hkg/0939 | 0.75% |
Which One Should You Choose?
Choose VO if...
you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.
Choose VWO if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.
Choose VWO if...
you prioritize dividend income and want higher regular distributions from your portfolio.