VOO US

VOO ETF: How Vanguard S&P 500 ETF Works

Last updated: 2026-10-03

Overview

Vanguard S&P 500 ETF (VOO) offers an index-based route to large US companies. Its scale and low stated expense ratio sit alongside a portfolio shaped by its biggest constituents: technology is the largest sector, and the ten largest holdings make up more than a third of the fund. For Australian investors, US-dollar exposure is another part of the picture.

Category

VOO centres on large US companies across sectors, with technology the largest allocation and financial services, communication services and consumer-related businesses also represented. Its market-cap-weighted approach gives larger companies more influence over the portfolio.

The supplied performance figures show positive returns across the reported periods, including 14.04% year to date and 18.57% over one year. The portfolio data also points to a strong technology tilt, making sector and large-company concentration relevant considerations when assessing the fund’s exposure.

Key facts

Ticker
VOO
Exchange
US
ISIN
US9229083632
Category / focus
Large Blend
Provider
Vanguard
Domicile
United States
Currency
USD
Inception date
2010-09-07
UCITS
No
Holdings count
50

Costs

TER
0.03%
Net expense ratio
0.03%
AUM
1.0T

The supplied expense-ratio figure is 0.03%. This is an ongoing fund cost, not a complete measure of the costs an Australian investor may incur when buying, holding or selling the ETF.

 

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Performance

YTD
14.0%
1 year
18.6%
3 years
22.9%
5 years
13.3%
10 years
15.5%
Dividend yield
1.04%
Top 10 concentration
37.8%

Holdings

  1. NVIDIA Corporation8.08%
    Ticker
    NVDA
    Sector
    Technology
    Country
    United States

  2. Apple Inc.7.03%
    Ticker
    AAPL
    Sector
    Technology
    Country
    United States

  3. Microsoft Corporation5.70%
    Ticker
    MSFT
    Sector
    Technology
    Country
    United States

  4. Amazon.com Inc3.84%
    Ticker
    AMZN
    Sector
    Consumer Cyclical
    Country
    United States

  5. Alphabet Inc Class A3.01%
    Ticker
    GOOGL
    Sector
    Communication Services
    Country
    United States

  6. Broadcom Inc2.65%
    Ticker
    AVGO
    Sector
    Technology
    Country
    United States

  7. Alphabet Inc Class C2.40%
    Ticker
    GOOG
    Sector
    Communication Services
    Country
    United States

  8. Meta Platforms Inc.1.90%
    Ticker
    META
    Sector
    Communication Services
    Country
    United States

  9. Micron Technology Inc1.63%
    Ticker
    MU
    Sector
    Technology
    Country
    United States

  10. Tesla Inc1.57%
    Ticker
    TSLA
    Sector
    Consumer Cyclical
    Country
    United States

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

The portfolio is led by NVIDIA, Apple and Microsoft, with Amazon and Alphabet also among the larger positions. The ten largest holdings together represent 37.809% of the fund. Technology is the largest sector allocation at 38.718%, so the portfolio’s broad company count does not prevent meaningful exposure to its biggest companies and sectors.

Regions

  • North America99.5%

  • Europe Developed0.3%

  • Asia Emerging0.1%

  • Latin America0.1%

  • United Kingdom0.0%

  • Japan0.0%

  • Australasia0.0%

  • Asia Developed0.0%

  • Europe Emerging0.0%

  • Africa/Middle East0.0%

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

Asset allocation

  • Stock US99.4%

  • Stock non-US0.5%

  • Cash0.1%

  • Other0.1%

  • Bond0.0%

  • NotClassified0.0%

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

Sectors

  • Technology38.7%

  • Financial Services12.0%

  • Communication Services9.5%

  • Consumer Cyclicals9.3%

  • Healthcare9.3%

  • Industrials7.8%

  • Consumer Defensive4.5%

  • Energy3.5%

  • Utilities2.0%

  • Real Estate1.8%

Weights are percentages of the fund; bars use a 0–100% scale. Displayed entries may not cover the whole portfolio.

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Risks

Who it may suit

VOO may interest investors researching broad exposure to large US companies through an index-based fund. Australian investors may also want to weigh its concentration in its biggest holdings and technology shares, as well as US-dollar currency exposure. This is general information, not a personal recommendation.

Key risks

VOO is exposed to movements in US share prices, and its substantial allocations to technology and its largest holdings mean those companies can have an outsized influence on results. Australian investors also face currency risk because the fund is priced in US dollars. Past performance does not guarantee future results.

FAQ

What does VOO invest in?

VOO provides exposure to large US companies through an index-based investment approach. Its portfolio is heavily weighted towards technology shares and its largest holdings include NVIDIA, Apple and Microsoft.

What does VOO cost?

The supplied expense-ratio display is 0.03%. Fund costs are one factor to consider alongside portfolio concentration, market movements and currency exposure.

Is VOO diversified?

It holds a broad portfolio of large US companies, but that does not remove concentration risk. The supplied data shows that its ten largest holdings account for 37.809% of the fund, with technology the largest sector.

What should Australian investors consider?

VOO is priced in US dollars and invests predominantly in US shares. For Australian investors, changes in the Australian dollar relative to the US dollar can affect returns measured in Australian dollars.

*This content is aimed to provide general information only, and does not take your personal objectives, financial situation or needs into account.

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