Guardfolio Research · ETF Concentration
VUG ETF Concentration: Top 10 Holds 63.7%
VUG (Vanguard Growth ETF) has an HHI of 565.32 and about 17.69 effective positions as of 2026-08-22. The largest holding is about 12.8%; the Top 10 sum to 63.7%, led by NVDA, AAPL, MSFT, GOOGL, AMZN. Vanguard Growth looks diversified by name count, but growth benchmarks still lean hard into a few megacaps.
Concentration Snapshot
Band
Very high concentration versus the Guardfolio 22-fund ETF set. Peer context: VGT HHI 750.94; XLK HHI 590.81; IWF HHI 470.26.
The Data
VUG top holdings and concentration math
Weights are normalized from licensed full holdings. HHI is the sum of squared percentage weights. Effective positions = 10,000 / HHI. This page is part of Guardfolio's concentration cluster, separate from ETF overlap pair pages.
| Provider | Financial Modeling Prep |
|---|---|
| Fund date | 2026-08-22 |
| Holdings counted | 147 |
| Top 3 / Top 5 | 35.0% / 46.0% |
| Holding | Weight |
|---|---|
| NVIDIA Corp (NVDA) | 12.8% |
| Apple Inc (AAPL) | 12.6% |
| Microsoft Corp (MSFT) | 9.6% |
| Alphabet Inc (GOOGL) | 5.8% |
| Amazon.com Inc (AMZN) | 5.2% |
| Alphabet Inc (GOOG) | 4.6% |
| Broadcom Inc (AVGO) | 4.5% |
| Meta Platforms Inc (META) | 3.4% |
| Eli Lilly & Co (LLY) | 2.7% |
| Tesla Inc (TSLA) | 2.4% |
Educational snapshot only. Holdings and weights change. HHI does not measure return correlation or future risk.
Why it matters
Concentration vs overlap for VUG holders
Vanguard Growth looks diversified by name count, but growth benchmarks still lean hard into a few megacaps. If you also hold QQQ, VUG, IWF or a megacap stock, look-through exposure can stack even when fund labels look different. After this page, check pairwise overlap and the portfolio concentration calculator.
ETF overlap checker · Concentration risk hub · Portfolio X-Ray
FAQ
VUG concentration: common questions
How concentrated is VUG?
VUG has an HHI of 565.32 and about 17.69 effective positions based on licensed full holdings dated 2026-08-22. The largest holding is about 12.8% and the Top 10 holdings sum to about 63.7%.
What are the largest holdings in VUG?
The largest contributors include NVIDIA Corp (NVDA) 12.8%; Apple Inc (AAPL) 12.6%; Microsoft Corp (MSFT) 9.6%; Alphabet Inc (GOOGL) 5.8%; Amazon (AMZN) 5.2%; Alphabet Inc (GOOG) 4.6%; Broadcom Inc (AVGO) 4.5%; Meta Platforms Inc (META) 3.4%.
Is VUG more concentrated than the S&P 500?
Yes on this snapshot. VUG's HHI of 565.32 sits above broad S&P 500 wrappers in the Guardfolio 22-fund set. Compare Top 10 weight (63.7%) with SPY/VOO on the concentration benchmarks page.
Does concentration mean VUG overlaps with other ETFs?
Concentration measures how much weight sits in a few names inside one fund. Overlap measures shared holdings across two funds. A concentrated ETF can still pair badly with another fund that owns the same megacaps. Check the ETF overlap checker after you review concentration.
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