VBK ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The Vanguard Small-Cap Growth ETF (VBK) tracks the CRSP US Small Cap Growth Index and offers broadly diversified exposure to fast-growing small-cap stocks. A low expense ratio, quarterly dividends and your tolerance for volatility are the key selection criteria, and it is worth comparing the fund with large-cap growth ETFs.
SubscribeWhat Is the Vanguard Small-Cap Growth ETF?
This is a passive ETF that tracks the CRSP US Small Cap Growth Index. It holds high-growth US small-cap stocks broadly, weighted by market capitalization, and follows the performance of that segment of the market.
It suits investors who can tolerate volatility and want to diversify across US small-cap growth stocks to pursue long-term growth potential.
It is an ETF managed by Vanguard using a passive (index-tracking) approach.
How Does the Vanguard Small-Cap Growth ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | CRSP US Small Cap Growth Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Quarterly |
| Issuer | Vanguard |
| Expense Ratio | 0.05% |
The fund holds the constituents of the CRSP US Small Cap Growth Index in proportion to their market capitalization, tracking the overall performance of US small-cap growth stocks. Broad diversification keeps individual stock weights low, and rebalancing is applied automatically according to the index rules.
- Broad diversification across small-cap growth stocks
- Low expense ratio
Vanguard Small-Cap Growth ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $22.3B, and the expense ratio is 0.05% per year.
Its low expense ratio relative to comparable growth ETFs is a strength, while volatility is relatively high given the nature of small-cap stocks.
Vanguard Small-Cap Growth ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeSmall-cap growth stocks are sensitive to the economic cycle and risk appetite, so they tend to be volatile, and their performance often diverges from large caps depending on market conditions. Recent trends are also affected by interest rates and earnings season.
When appetite for growth stocks rises, money tends to flow into the small-cap growth category, while in risk-off phases volatility widens and fund flows can slow. A steady base of holders also exists as a core diversification holding.
Vanguard Small-Cap Growth ETF Pros and Cons
A low expense ratio and broad diversification are its strengths, while the high volatility typical of small-cap growth stocks is its drawback.
💪 Key Strengths
⚠️ Points of Caution
Alternative ETFs and Related Products to the Vanguard Small-Cap Growth ETF
VUG, SCHG and IWF shown in the table are ETFs that invest in large-cap growth stocks. They hold a broader, larger market-cap segment and differ from one another in issuer and expense ratio. The key difference from VBK is the market-cap range (small versus large). Meanwhile, if you want a value style within the same small-cap segment, you can also consider VBR. If you want exposure to the entire small-cap universe combining growth and value, consider VB, and if you want a broader core holding covering the entire US market, consider VTI.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VUG | Vanguard Morningstar Growth ETF | $85.22 | +1.7% | $217.7B | 0.03% | 0.41% | +3.3% |
 IWF | iShares Russell 1000 Growth ETF | $116.62 | +2.3% | $116.6B | 0.18% | 0.37% | -3.0% |
 IVW | iShares S&P 500 Growth ETF | $134.17 | +1.6% | $72.9B | 0.18% | 0.36% | +8.3% |
 SCHG | Schwab U.S. Large-Cap Growth ETF | $34.42 | +1.7% | $61.0B | 0.04% | 0.4% | +4.2% |
 SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | $116.18 | +1.7% | $52.6B | 0.04% | 0.5% | +8.3% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 CRDO | Credo Technology Group Holding Ltd | 0.01% | $141.46 | +9.0% | $26.6B | 50.5 | - |
| RVMD | Revolution Medicines Inc | 0.01% | $180.70 | -6.4% | $39.1B | - | - |
| ALAB | Astera Labs Inc | 0.01% | $230.91 | +6.8% | $40.4B | 91.6 | - |
| NTRA | Natera Inc | 0.02% | $319.82 | +2.5% | $46.4B | - | - |
| CIEN | CIENA Corp | 0.01% | $296.04 | +8.8% | $42.0B | 66.1 | - |
 FTI | TechnipFMC plc | 0.01% | $65.39 | +1.3% | $25.4B | 20.6 | 0.39% |
 CASY | Casey's General Stores Inc | 0.01% | $714.18 | +2.3% | $26.4B | 34.4 | 0.37% |
| TWLO | Twilio Inc | 0.01% | $219.48 | +2.5% | $34.0B | 27.6 | - |
| LITE | Lumentum Holdings Inc | 0.01% | $648.06 | +10.7% | $58.8B | - | - |
Vanguard Small-Cap Growth ETF Investor Checkpoints
Here are the points to review before investing in VBK. It is a low-cost, core-type small-cap growth ETF, but it is wise to check the large volatility typical of small-cap growth stocks, the valuation burden and the effect of the exchange rate on won-denominated returns before buying.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over a long holding period | Low |
| 📊 Volatility | Whether you can tolerate the price swings of small-cap growth stocks | High |
| 🧩 Diversification | Check the level of diversification across holdings | Broadly diversified |
| 💱 Exchange Rate | Impact on returns converted into won | Not currency-hedged |
The high volatility and valuation burden typical of small-cap growth stocks are the main drivers of short-term volatility. In risk-off phases, drawdowns can be larger than for large caps.
It is a suitable choice for long-term investors who want to diversify into US small-cap growth stocks at a low cost. If large-cap growth exposure is the priority, consider VUG or SCHG, and if you prefer a value style, consider VBR as well.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 21, 2026.
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