ETF Evaluator:
Vanguard Mega Cap Value ETF (MGV)
Follow This ETF
(as of Aug 03)
Best Performing in Large Value Over the Last Year
| 80.0% | iShares MSCI USA Value Factor ETF (VLUE) |
| 37.2% | Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) |
| 36.6% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 35.3% | Avantis US Large Cap Value ETF (AVLV) |
| 35.1% | LSV Disciplined Value ETF (LSVD) |
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Risk
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ETF Details
Vanguard Mega Cap Value ETF Overview
Vanguard Mega Cap Value ETF (MGV) is a passively managed U.S. Equity Large Value exchange-traded fund (ETF). Vanguard launched the ETF in 2007.
The investment seeks the performance of the CRSP U.S. Mega Cap Value Index.
The fund employs an indexing investment approach designed to track the performance of the index. The index is a float-adjusted, market-capitalization-weighted index designed to measure equity market performance of mega-capitalization value stocks in the United States. The Advisor attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.
About Vanguard Mega Cap Value ETF (MGV)
There are 2 members of the management team with an average tenure of 1.36 years: Chris Nieves (2025) and Jena Stenger (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: DJ US Total Stock Market TR USD index with a weighting of 100% and CRSP US Mega Cap Value TR USD index with a weighting of 100%. Vanguard Mega Cap Value ETF has 129 securities in its portfolio. The top 10 holdings constitute 28.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Vanguard Mega Cap Value ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Vanguard Mega Cap Value ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.8% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Vanguard Mega Cap Value ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $13 billion in total assets, which is above the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MGV Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Vanguard Mega Cap Value ETF expense ratio is low compared to funds in the Large Value category. Vanguard Mega Cap Value ETF has an expense ratio of 0.05%, which is 86% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Vanguard Mega Cap Value ETF has a portfolio turnover rate of 8%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 41% for the Large Value category.
Recently, in the month of June 2026, Vanguard Mega Cap Value ETF returned 4.2%, which earned it a grade of A, as the Large Value category had an average return of 1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Vanguard Mega Cap Value ETF has a trailing yield of 1.86%, which is above the 1.74% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Vanguard Mega Cap Value ETF Grades
Year to date, the ETF has returned 17.0%, 5.1 percentage points better than the category, which translates into a grade of A. The fund has returned 27.2% over the past year (grade of B), 19.0% over the past three years (grade of B) and 13.1% per year over the past five years (grade of A) and 13.1% per year over the past 10 years (grade of B).
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MGV Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MGV Return (NAV) | 4.2% | 13.2% | 27.2% | 19.0% | 13.1% | 13.1% |
| MGV Return (Price) | 4.2% | 13.3% | 27.2% | 19.0% | 13.1% | 13.1% |
| NAV +/- Price Return | 0.012% | -0.027% | -0.055% | -0.008% | 0.004% | 0.006% |
| Large Value Avg | 1.1% | 9.8% | 22.0% | 16.7% | 11.0% | 12.2% |
| MGV Grade (NAV) | A | B | B | B | A | B |
| +/- Category (NAV) | 3.1% | 3.4% | 5.2% | 2.4% | 2.1% | 0.9% |
| MGV Tax-Cost Ratio | na | na | 0.5% | 0.6% | 0.6% | 0.7% |
MGV Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MGV Return (NAV) | 17.0% | 15.6% | 16.9% | 9.2% | -1.2% | 25.9% | 2.4% | 25.7% | -4.1% | 16.8% | 16.6% |
| MGV Return (Price) | 17.0% | 15.4% | 16.9% | 9.2% | -1.2% | 25.9% | 2.4% | 25.6% | -4.1% | 16.8% | 16.8% |
| NAV +/- Price Ret | -0.002% | -0.008% | 0.005% | 0.001% | -0.001% | 0.001% | 0.015% | -0.7% | 1.1% | 0.3% | 0.8% |
| Large Value Avg | 11.9% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| MGV Grade (NAV) | A | C | B | D | A | C | D | D | B | C | C |
| +/- Category | 5.1% | 0.8% | 1.4% | -3.9% | 5.3% | -0.8% | -3.0% | -1.6% | 2.5% | -0.9% | 0.9% |
| Risk Measures | |
| Beta: | 0.66 |
| R-Squared: | 58% |
| Standard Deviation: | 11.3% |
| Category Risk Index: | 0.93 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.93 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.9% |
| Total Assets: | $ 13,307 Mil |
| Share Class Assets: | $ 13,163 Mil |
| Turnover: | 8.0% |
| Expense Ratio: | 0.05% |
| Index Fund: | Yes |
| Index Tracked: | DJ US Total Stock Market TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Nieves Chris (2025), Stenger Jena (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 129 |
| % in Top 10 Holdings: | 28.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 98.8% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Vanguard |
| Phone Number: | 800-662-7447 |
| Website: | www.vanguard.com |
| Inception Date: | December 17, 2007 |
Expenses and Fees
| Expense Ratio (%): | 0.05% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.37% |
