Data as of Oct 28, 2026.

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VHT vs VO: Differences, Returns & Fees

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Over the year to Oct 28, 2026, VHT returned +25.0% to VO's +12.8%; 9% of their weight is in the same names.

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Net assets on Sep 30, 2026: $19.1bn for Vanguard Health Care ETF and $103.4bn for Vanguard Morningstar Mid-Cap ETF.

At a glance
+25.0%
VHT total return, 1 year
+12.8%
VO total return, 1 year
0.09%
VHT expense ratio
0.03%
VO expense ratio

Pair scorecard

VO costs 0.06 points a year less; their one-year returns differ by 12.2 points; VO is 5.4 times larger.

VHT vs VO: Differences, Returns & Fees
MeasureVHTVO
Return
Total return, 1 year+25.0%+12.8%
Drawdown
Below its high3.1%, high on Aug 14, 2026
Benchmark
What it tracksMSCI US Investable Market Index (IMI)/Health Care 25/50Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index)
Cost and size
Expense ratio0.09%0.03%
Net assets, as of Sep 30, 2026$19.1bn$103.4bn
Holdings
Holdings in common9%
Top ten holdings, share of the fund51.8%9.7%

Holdings in common uses holdings dated Sep 30, 2026. Method

What they share

9%

By the books each fund has filed, VHT and VO hold 9% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.

0 half 100%

half

9% in common

Positions both hold · largest shared weight first VHT VO
Cencora Inc 0.78% 0.54%
Cardinal Health Inc 0.73% 0.51%
Edwards Lifesciences Corp 0.69% 0.49%
Becton Dickinson & Co 0.69% 0.48%
Agilent Technologies Inc 0.68% 0.48%
Humana Inc 0.64% 0.45%
IQVIA Holdings Inc 0.63% 0.44%
Waters Corp 0.60% 0.43%
Veeva Systems Inc 0.58% 0.41%
IDEXX Laboratories Inc 0.58% 0.41%
Regeneron Pharmaceuticals Inc 1.09% 0.38%
Moderna Inc 0.91% 0.34%
Only in one fund ↓
Only in VHT
Eli Lilly & Co 12.95%
Johnson & Johnson 8.79%
AbbVie Inc 6.46%
Merck & Co Inc 5.02%
UnitedHealth Group Inc 4.66%
Thermo Fisher Scientific Inc 3.51%
Amgen Inc 3.18%
Gilead Sciences Inc 2.59%
Only in VO
Cloudflare Inc 1.11%
Valero Energy Corp 1.10%
Marathon Petroleum Corp 1.10%
Phillips 66 1.01%
Quanta Services Inc 0.95%
Vertiv Holdings Co 0.92%
Datadog Inc 0.91%
Howmet Aerospace Inc 0.89%
Check overlap with more funds →

Side by side

VHT Vanguard Health Care ETF VO Vanguard Morningstar Mid-Cap ETF
Where it sits Stock ETF Stock ETF
What it is Tracks an index of Health Care Tracks an index of Mid-Cap
Total return, 1 year +25.0% +12.8%
Its benchmark over the same days +25.4% (FHLC) not measured
Gap to its benchmark −0.4 pts vs FHLC not measured
Expense ratio 0.09% 0.03%
Already in the S&P 500 85.5% 91.1%
Holdings 414 273
Net assets, as of Sep 30, 2026 $19.1bn $103.4bn

VHT and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
VHT

VHT tracks an index of Health Care. Over the year to Oct 28, 2026 it returned +25.0% with distributions reinvested, against +25.4% for its benchmark, the MSCI US Investable Market Index (IMI)/Health Care 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 414 positions, with the top ten at 51.8%.

VO

VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, VHT or VO?
In the year to Oct 28, 2026, with distributions reinvested, VHT returned +25.0% and VO +12.8%.
Which is cheaper, VHT or VO?
VO is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do VHT and VO overlap with the S&P 500?
By their latest filed holdings, 86% of VHT and 91% of VO by weight is stocks the S&P 500 already holds.
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ETFIQ, VHT against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/vht-vs-vo

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