What Is VPU? Vanguard Utilities Index Fund ETF Shares
Last updated July 2026
Short answer
VPU is Vanguard Utilities Index Fund ETF Shares, an ETF that tracks a US utilities sector index at a 0.09% expense ratio. VPU tracks a US utilities sector index. It has traded since 2004, so its record spans more than one full cycle. It is concentrated: the ten largest positions are about 52% of the fund, led by NEE at 11.6%. It charges 0.09%. The distribution yield is about 2.64%.
VPU is issued by Vanguard and tracks a US utilities sector index. It charges a 0.09% expense ratio, holds approximately $10.8B in assets under management, yields about 2.64%, and launched in 2004.
What is VPU?
VPU is Vanguard Utilities Index Fund ETF Shares, an ETF that tracks a US utilities sector index at a 0.09% expense ratio. VPU tracks a US utilities sector index. It has traded since 2004, so its record spans more than one full cycle. It is concentrated: the ten largest positions are about 52% of the fund, led by NEE at 11.6%. It charges 0.09%. The distribution yield is about 2.64%.
VPU is issued by Vanguard and tracks a US utilities sector index, 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 VPU hold?
VPU is weighted toward its largest constituents. As of August 2026, the top holdings are:
| Rank | Ticker | Company | % of VPU | |
|---|---|---|---|---|
| 1 | NEE | NextEra Energy Inc | 11.6% | |
| 2 | SO | Southern Co | 6.8% | |
| 3 | DUK | Duke Energy Corp | 6.2% | |
| 4 | CEG | Constellation Energy Corp | 4.8% | |
| 5 | AEP | American Electric Power Co Inc | 4.7% | |
| 6 | SRE | Sempra | 3.8% | |
| 7 | D | Dominion Energy Inc | 3.8% | |
| 8 | VST | Vistra Corp | 3.4% | |
| 9 | ETR | Entergy Corp | 3.3% | |
| 10 | XEL | Xcel Energy Inc | 3.2% |
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.
How do I invest in VPU?
There are three common ways to get VPU exposure. Buy shares (or fractional shares) of VPU 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 VPU sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. VPU 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 VPU a good buy?
Whether VPU is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks a US utilities sector index, 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 VPU a buy?
The bottom line on VPU
VPU gives you a US utilities sector index exposure in one ticker at a 0.09% expense ratio. Most investors use it as a core holding and layer more concentrated thematic portfolios on top.
More on VPU
Whether VPU 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 VPU a buy?
VPU yields 2.64% as of August 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see VPU dividend: yield and schedule.
New to funds like VPU? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how VPU 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 VPU with AI
Connect the broker you already use and ask Walnut's AI how VPU 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 VPU's ticker symbol?
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VPU, Vanguard Utilities Index Fund ETF Shares. Issued by Vanguard; tracks a US utilities sector index. Trades during US market hours, available at every major US brokerage.
What is VPU's expense ratio?
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0.09% as of August 2026.
What are VPU's top holdings?
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Top holdings as of August 2026: NEE, SO, DUK, CEG, AEP and others. See the full holdings table above.
How can I invest in VPU through Walnut?
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Walnut isn't a broker. Connect a brokerage and Walnut sits on top to help you build and track thematic portfolios. VPU can be a constituent alongside individual stocks.
How do I compare VPU 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. VPU's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to August 2026; verify current figures against Vanguard's fund page or your broker before investing.