ETF Evaluator: Vanguard S&P Mid-Cap 400 ETF (IVOO) Follow This ETF

Vanguard S&P Mid-Cap 400 ETF Overview

Vanguard S&P Mid-Cap 400 ETF (IVOO) is a passively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Vanguard launched the ETF in 2010.

The investment seeks to track the performance of a S&P MidCap 400® Index that measures the investment return of mid-capitalization stocks in the United States. The target index measures the performance of mid-size companies in the United States. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the stocks that make up the target index.

About Vanguard S&P Mid-Cap 400 ETF (IVOO)

There are 2 members of the management team with an average tenure of 2.37 years: Kenny Narzikul (2023) and Chris Nieves (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 S&P MidCap 400 TR index with a weighting of 100%. Vanguard S&P Mid-Cap 400 ETF has 405 securities in its portfolio. The top 10 holdings constitute 8.3% 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 S&P Mid-Cap 400 ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Vanguard S&P Mid-Cap 400 ETF has 3.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.2% There is 3.3% 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 S&P Mid-Cap 400 ETF has 0.4% of the portfolio in cash.

Assets Under Management

The fund has $3 billion in total assets, which is below the $4 billion average for the Mid-Cap Blend 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.

IVOO 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 S&P Mid-Cap 400 ETF expense ratio is low compared to funds in the Mid-Cap Blend category. Vanguard S&P Mid-Cap 400 ETF has an expense ratio of 0.07%, which is 85% 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 S&P Mid-Cap 400 ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Blend category.

Recently, in the month of June 2026, Vanguard S&P Mid-Cap 400 ETF returned 3.6%, which earned it a grade of C, as the Mid-Cap Blend category had an average return of 3.4%. 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 S&P Mid-Cap 400 ETF has a trailing yield of 1.16%, which is above the 0.85% category average. The fund normally distributes its income quarterly.

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 S&P Mid-Cap 400 ETF Grades

Year to date, the ETF has returned 17.3%, 1.1 percentage points better than the category, which translates into a grade of B. The fund has returned 25.8% over the past year (grade of C), 15.3% over the past three years (grade of C) and 9.0% per year over the past five years (grade of C) and 11.5% per year over the past 10 years (grade of D).

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