Overview
Vanguard's mid-cap fund tracking the CRSP US Mid Cap Index — companies between roughly the 70th and 85th percentile of US market capitalisation.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| WELL | Welltower Inc. | 0.9% |
| AMP | Ameriprise Financial | 0.8% |
| CSL | Carlisle Companies | 0.8% |
| NEM | Newmont Corporation | 0.7% |
| IT | Gartner Inc. | 0.7% |
| PWR | Quanta Services | 0.7% |
| AXON | Axon Enterprise | 0.7% |
| DDOG | Datadog Inc. | 0.6% |
| VST | Vistra Corp. | 0.6% |
| HUBS | HubSpot Inc. | 0.6% |
Fund Details
Investment Thesis
Mid-caps are the most persistently under-owned segment of the US market. They are large enough to have proven business models, professional management and capital-markets access, yet small enough to compound at rates mega-caps mathematically cannot sustain. VO's largest position sits below 1% of assets, making it dramatically more diversified than any large-cap fund, where the top ten routinely exceed 35%. That diversification is the strongest structural argument for holding it.
Who It's For
Investors building exposure across the full market-cap spectrum who recognise that an S&P 500 fund omits the entire middle of the US economy. VO pairs naturally with a large-cap core and a small-cap sleeve. Particularly suited to those uncomfortable with the mega-cap concentration risk now embedded in cap-weighted indices.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $128.42 | -- |
| 2017 | $149.22 | +16.2% |
| 2018 | $132.66 | -11.1% |
| 2019 | $167.28 | +26.1% |
| 2020 | $190.04 | +13.6% |
| 2021 | $236.59 | +24.5% |
| 2022 | $205.36 | -13.2% |
| 2023 | $238.43 | +16.1% |
| 2024 | $271.33 | +13.8% |
| 2025 | $299.01 | +10.2% |
| Year | Yield |
|---|---|
| 2016 | 1.72% |
| 2017 | 1.62% |
| 2018 | 1.82% |
| 2019 | 1.68% |
| 2020 | 1.48% |
| 2021 | 1.28% |
| 2022 | 1.52% |
| 2023 | 1.42% |
| 2024 | 1.32% |
| 2025 | 1.26% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $18B | -- |
| 2017 | $22B | +22.2% |
| 2018 | $20B | -9.1% |
| 2019 | $26B | +30.0% |
| 2020 | $32B | +23.1% |
| 2021 | $44B | +37.5% |
| 2022 | $38B | -13.6% |
| 2023 | $48B | +26.3% |
| 2024 | $62B | +29.2% |
| 2025 | $106B | +71.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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