What Is MGK? Vanguard Mega Cap Growth ETF
Last updated July 2026
Short answer
MGK is the Vanguard Mega Cap Growth ETF, a fund that tracks the CRSP US Mega Cap Growth Index at a 0.07% expense ratio. It holds only the very largest US growth companies (MSFT, AAPL, NVDA, AMZN), so it is even more top-heavy and tech-concentrated than VUG. Versus VUG, MGK drops the mid-sized growth names and leans harder into the mega-cap leaders, which makes it a more concentrated style bet.
MGK is issued by Vanguard and tracks CRSP US Mega Cap Growth. It charges a 0.07% expense ratio, holds approximately ~$25 billion in assets under management, yields about ~0.5%, and launched in December 2007.
What is MGK?
MGK is the Vanguard Mega Cap Growth ETF, a fund that tracks the CRSP US Mega Cap Growth Index at a 0.07% expense ratio. It holds only the very largest US growth companies (MSFT, AAPL, NVDA, AMZN), so it is even more top-heavy and tech-concentrated than VUG. Versus VUG, MGK drops the mid-sized growth names and leans harder into the mega-cap leaders, which makes it a more concentrated style bet.
MGK is issued by Vanguard and tracks CRSP US Mega Cap Growth, so a single ticker gives you the whole portfolio of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
What does MGK hold?
MGK is weighted toward its largest constituents. As of early 2026, the top holdings are:
| Rank | Ticker | Company | % of MGK | |
|---|---|---|---|---|
| 1 | MSFT | Microsoft | ~13.0% | |
| 2 | AAPL | Apple | ~12.0% | |
| 3 | NVDA | NVIDIA | ~11.5% | |
| 4 | AMZN | Amazon | ~7.0% | |
| 5 | META | Meta Platforms | ~5.0% | |
| 6 | GOOGL | Alphabet Class A | ~4.0% | |
| 7 | GOOG | Alphabet Class C | ~3.5% | |
| 8 | AVGO | Broadcom | ~3.5% | |
| 9 | TSLA | Tesla | ~3.0% | |
| 10 | LLY | Eli Lilly | ~2.5% |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
Themes MGK is commonly used to express
ETFs are passive bundles; thematic portfolios in Walnut let you concentrate within them. If you hold MGK as a core position, these are the themes you might layer on as satellites.
How do I invest in MGK?
There are three common ways to get MGK exposure. Buy shares (or fractional shares) of MGK directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so MGK sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. MGK trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is MGK a good buy?
Whether MGK is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks CRSP US Mega Cap Growth, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is MGK a buy?
The bottom line on MGK
MGK is a concentrated mega-cap growth tilt, narrower and more tech-heavy than VUG. It works as a focused growth style tilt around a broad core, not as a diversified holding, and it overlaps heavily with the top of VOO and QQQ in a handful of mega-cap names.
More on MGK
Whether MGK is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is MGK a buy?
MGK yields ~0.5% as of early 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see MGK dividend: yield and schedule.
SCHG covers a broad slice of large-cap growth, while MGK concentrates on mega-cap growth only, so MGK is more top-heavy in the largest names. SCHG gives more breadth; MGK leans harder into the very biggest growth companies. Read the full side-by-side in SCHG vs MGK.
New to funds like MGK? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how MGK fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in MGK with AI
Connect the broker you already use and ask Walnut's AI how MGK fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is MGK?
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MGK is the Vanguard Mega Cap Growth ETF, a single ticker that holds only the very largest US growth companies. It tracks the CRSP US Mega Cap Growth Index and is heavily concentrated in mega-cap technology, so it behaves like a focused growth bet on the biggest companies rather than a broad-market core.
What is MGK's expense ratio?
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0.07% per year (7 basis points) as of early 2026. On a $10,000 investment, that is about $7 per year in fees. Slightly higher than VUG's 0.04% but still low. Verify the current figure on the Vanguard site.
MGK vs VUG: what's the difference?
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Both are Vanguard large-cap growth funds, but MGK holds only mega-cap growth names while VUG also includes mid-sized large-cap growth companies. MGK is more top-heavy and concentrated in the biggest technology names. Walnut is not an investment adviser, so this is not a recommendation.
MGK vs VOO: which is broader?
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VOO holds the entire S&P 500, both growth and value, across roughly 500 names. MGK holds only the largest growth companies, so it is far more concentrated in mega-cap technology and more volatile. The two overlap heavily at the very top.
Does MGK pay a dividend?
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Yes, quarterly, but the yield is low, approximately 0.5% as of early 2026. Mega-cap growth companies tend to reinvest cash flow rather than pay large dividends, so MGK's yield is well below a broad-market fund.
What companies are in MGK?
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The largest US growth names, led by Microsoft, Apple, NVIDIA, Amazon, Meta, both share classes of Alphabet, Broadcom, Tesla, and Eli Lilly. The fund is very top-heavy in mega-cap technology. Weights are approximate, verify on the issuer's site.
What is MGK's AUM?
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Approximately $25 billion as of early 2026. The exact figure moves with markets and flows, so verify on the Vanguard site.
When was MGK created?
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December 2007. MGK is Vanguard's mega-cap growth style ETF, sitting at the most concentrated end of its growth lineup alongside the broader VUG.
How do I buy MGK?
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MGK trades like any stock during US market hours. Buy it through any broker: Robinhood, Fidelity, Schwab, Public, M1, Vanguard, or others. Fractional shares are supported at most modern brokers. Connect your broker to Walnut and the AI can show how MGK overlaps with what you already own.
Is MGK a good investment?
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MGK gives a concentrated mega-cap growth tilt that overlaps heavily with VUG, VOO, and QQQ in a handful of names. Whether it fits your portfolio depends on your time horizon and tolerance for concentration. Walnut is not an investment adviser, so this is not a recommendation.
How do I compare MGK to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. MGK's figures are above; the full method is in Walnut's guide on how to compare ETFs.
Guides that feature MGK
MGK is one of the names covered in these guides. Each one puts the fund next to its peers so you can see where it fits rather than judging it alone.
Related ETFs
Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to early 2026; verify current figures against Vanguard's fund page or your broker before investing.