IVOO vs MCOW: Grades, Fees and Holdings Compared

Vanguard S&P Mid-Cap 400 ETF

IVOOANYSE Arca

Pacer S&P MidCap 400 Quality FCF Aristocrats ETF

MCOWDCboe

Overlap

18.9%by weight

Expense ratio

IVOO −0.42pt a year

IVOO0.07%MCOW0.49%

Avg volume · 30D

IVOO 64.7×the volume

IVOO82KMCOW1.27K

IVOO vs MCOW Performance

Nov 7, 2025 – Nov 9, 2026

+16.1%IVOO+13.2%MCOW

Expense ratio: IVOO 0.07%, better; MCOW 0.49%
Fund size: IVOO $3.7B; MCOW $1M
1Y total return: IVOO +16.1%, better; MCOW +13.2%
Yield (12M): IVOO 1.19%; MCOW No data
Holdings: IVOO 408; MCOW 81
Avg volume (30D): IVOO 82K sh, better; MCOW 1.27K sh
NAV per share: IVOO $122.07; MCOW $21.83
52W range

ETF.net Grade

Pillar letters and Scores for IVOO, MCOW, with each pillar’s weight
Pillar	IVOO	MCOW
Cost30% weight	A78Higher	F5
Mission25% weight	A100Higher	A89
Risk15% weight	B57Higher	F10
Tradability15% weight	D32Higher	F24
Holdings10% weight	A71Higher	D25
Durability5% weight	B66Higher	F6

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. IVOO and MCOW are both graded against the same 11 S&P MidCap 400 funds, so their Grades compare head to head.

S&P MidCap 400⁠

Category · 11 funds

See all 11 ›

IVOO ranks 3rd and MCOW 11th of 11 funds in the S&P MidCap 400 Category.

Rank 1ASPMDState Street SPDR Portfolio S&P 400 Mid Cap ETFScore 86
Rank 2AIJHiShares Core S&P Mid-Cap ETFScore 84
Rank 3AIVOOVanguard S&P Mid-Cap 400 ETFScore 72
Rank 4BMDYState Street SPDR S&P MIDCAP 400 ETF TrustScore 66
Rank 10CMIDEXtrackers S&P MidCap 400 Scored & Screened ETFScore 40
Rank 11DMCOWPacer S&P MidCap 400 Quality FCF Aristocrats ETFScore 31

Our read on each fund

ETF.net Research

IVOOAVanguard S&P Mid-Cap 400 ETF

MCOWDPacer S&P MidCap 400 Quality FCF Aristocrats ETF

In short

IVOO Four funds chase the S&P MidCap 400; this is the Vanguard one. About 400 mid-sized US companies at 0.07% a year, less than half what the typical fund on this index charges.

MCOW No data

Stated mandate

IVOO The fund seeks to follow the performance of the S&P MidCap 400 Index.

MCOW No data

Why people hold it

IVOO 0.07% a year, under half the going rate among funds tracking this same index. On a plain-vanilla wrapper, fee is most of the argument.vanguard.com
Holds roughly 400 mid-sized US companies, the tier above small caps and below the mega-cap names. No stock picking, no tilts, no sector bets.vanguard.com
Tracks the S&P MidCap 400 closely and does exactly what its prospectus says, one of the tighter implementations in this peer group.vanguard.com
Trading since 2010, with distributions paid quarterly. A multi-billion-dollar fund with a long track record behind the ticker.

MCOW No data

Worth knowing

IVOO Cheaper wrappers on the identical index exist: SPMD at 0.03% and IJH at 0.05%. Small gap, but it is a gap, and the index inside is the same.
Moderately traded rather than the volume king of the S&P 400 group, so spreads deserve a look on large or hurried orders.
All US, all mid-cap. No mega-cap ballast, no international exposure. This is one slice of a portfolio, not the whole plate.

MCOW No data

Full IVOO profile⁠

Full MCOW profile⁠

IVOO vs MCOW Holdings

How IVOO and MCOW differ

Overlap by weight

18.9%

Shared holdings make up 99.9% of MCOW and 18.9% of IVOO.

Level by level

Holdings79 in both18.9%
Sector11 Sectors73.0%
Asset classStocks100%
Countryby domicile99.5%

Sector

Sector weights in IVOO and MCOW, widest gap first
Sector	Gap	IVOO	MCOW
Technology	MCOW +16.5 points	18.1%	34.6%
Health Care	MCOW +9.3 points	10.4%	19.8%
Financials	IVOO +8.8 points	13.5%	4.7%
Real Estate	IVOO +7.9 points	7.9%	0.0%
Consumer Discretionary	IVOO +2.9 points	10.1%	7.2%
Utilities	IVOO +2.8 points	2.8%	0.0%
Materials	IVOO +2.5 points	4.9%	2.4%
Consumer Staples	IVOO +1.3 points	3.2%	1.9%
Communication	MCOW +1.2 points	1.5%	2.7%
Industrials	IVOO +0.8 points	22.2%	21.4%
Energy	IVOO +0.1 points	5.3%	5.2%

Country, concentration and asset class

Country by domicile

Country weights in IVOO and MCOW, widest gap first
Country	More in IVOOMore in MCOW	Gap	IVOO	MCOW
United States		IVOO +0.5 points	100.0%	99.5%
India		MCOW +0.5 points	0.0%	0.5%

Concentration

Weight in the 10 largest Holdings

IVOO7.8%
MCOW33.2%

Securities held

IVOO402
MCOW79

Asset class

IVOO: Stocks
MCOW: Stocks

Holdings

Only in IVOO323
In both79
Only in MCOW0

Only in IVOO

323 securities, 80.9% of IVOO by weight

Twilio Inc1.32%
Okta Inc1.02%
nVent Electric PLC0.76%
ATI Inc0.76%
Entegris Inc0.69%
United Therapeutics Corp0.68%
XPO Inc0.60%
Tenet Healthcare Corp0.60%
TD SYNNEX Corp0.60%
Roku Inc0.59%
Royal Gold Inc0.59%
US Foods Holding Corp0.58%
Roivant Sciences Ltd0.58%
MACOM Technology Solutions Holdings Inc0.58%
Reliance Inc0.58%
Woodward Inc0.57%
Carpenter Technology Corp0.56%
Nutanix Inc0.56%
Coeur Mining Inc0.53%
ITT Inc0.53%
MKS Inc0.53%
Permian Resources Corp0.52%
WESCO International Inc0.51%
East West Bancorp Inc0.50%
Burlington Stores Inc0.49%
Dynatrace Inc0.49%
Semtech Corp0.49%
HF Sinclair Corp0.49%
SLCMT11420.47%
Reinsurance Group of America Inc0.47%
Ovintiv Inc0.47%
RBC Bearings Inc0.46%
Clean Harbors Inc0.46%
Fabrinet0.45%
SiTime Corp0.44%
RB Global Inc0.44%
SharkNinja Inc0.44%
Toast Inc0.44%
API Group Corp0.44%
WP Carey Inc0.43%
Performance Food Group Co0.42%
Somnigroup International Inc0.42%
Annaly Capital Management Inc0.42%
Aramark0.41%
Pinnacle Financial Partners Inc0.41%
Jones Lang LaSalle Inc0.41%
Omega Healthcare Investors Inc0.41%
Talen Energy Corp0.41%
Sun Communities Inc0.40%
CACI International Inc0.39%

Only in MCOW

0 securities, 0.0% of MCOW by weight

Weight gaps

All 79 Holdings in both funds, largest gap first.

Holding weights in IVOO and MCOW, widest gap first
Holding	Gap	IVOO	MCOW
Manhattan Associates IncMANH	MCOW +4.29 points	0.34%	4.63%
Docusign IncDOCU	MCOW +4.23 points	0.38%	4.61%
Medpace Holdings IncMEDP	MCOW +4.14 points	0.41%	4.55%
Exelixis IncEXEL	MCOW +3.38 points	0.42%	3.80%
Lattice Semiconductor CorpLSCC	MCOW +3.10 points	0.52%	3.62%
Jazz Pharmaceuticals PLCJAZZ	MCOW +2.27 points	0.44%	2.71%
Qualys IncQLYS	MCOW +2.23 points	0.19%	2.42%
Neurocrine Biosciences IncNBIX	MCOW +1.89 points	0.42%	2.31%
Mueller Industries IncMLI	MCOW +1.85 points	0.39%	2.24%
InterDigital IncIDCC	MCOW +1.82 points	0.25%	2.06%
Rambus IncRMBS	MCOW +1.81 points	0.34%	2.15%
Commvault Systems IncCVLT	MCOW +1.71 points	0.18%	1.89%
Dropbox IncDBX	MCOW +1.63 points	0.14%	1.77%
TechnipFMC PLCFTI	MCOW +1.50 points	0.78%	2.28%
Carlisle Cos IncCSL	MCOW +1.49 points	0.37%	1.86%
Paylocity Holding CorpPCTY	MCOW +1.45 points	0.18%	1.63%
Lincoln Electric Holdings IncLECO	MCOW +1.40 points	0.42%	1.82%
Graco IncGGG	MCOW +1.36 points	0.36%	1.72%
H&R Block IncHRB	MCOW +1.28 points	0.15%	1.43%
DT Midstream IncDTM	MCOW +1.28 points	0.36%	1.64%
Corcept Therapeutics IncCORT	MCOW +1.21 points	0.32%	1.53%
HubSpot IncHUBS	MCOW +1.19 points	0.30%	1.49%
Crocs IncCROX	MCOW +1.16 points	0.16%	1.32%
Antero Midstream CorpAM	MCOW +1.14 points	0.20%	1.34%
MGIC Investment CorpMTG	MCOW +1.13 points	0.16%	1.29%
Essent Group LtdESNT	MCOW +1.12 points	0.15%	1.27%
Bentley Systems IncBSY	MCOW +1.11 points	0.15%	1.26%
Doximity IncDOCS	MCOW +1.09 points	0.11%	1.20%
Allison Transmission Holdings IncALSN	MCOW +1.10 points	0.27%	1.37%
Curtiss-Wright CorpCW	MCOW +1.07 points	0.59%	1.66%
Chemed CorpCHE	MCOW +0.97 points	0.19%	1.16%
Coca-Cola Consolidated IncCOKE	MCOW +0.95 points	0.31%	1.26%
New York Times Co/TheNYT	MCOW +0.94 points	0.27%	1.21%
HealthEquity IncHQY	MCOW +0.91 points	0.22%	1.13%
Sterling Infrastructure IncSTRL	MCOW +0.86 points	0.44%	1.30%
Appfolio IncAPPF	MCOW +0.83 points	0.14%	0.97%
Tetra Tech IncTTEK	MCOW +0.80 points	0.25%	1.05%
Advanced Drainage Systems IncWMS	MCOW +0.80 points	0.26%	1.06%
Acuity IncAYI	MCOW +0.80 points	0.27%	1.07%
Cirrus Logic IncCRUS	MCOW +0.78 points	0.18%	0.96%
Exponent IncEXPO	MCOW +0.70 points	0.09%	0.79%
Voya Financial IncVOYA	MCOW +0.68 points	0.25%	0.93%
Watts Water Technologies IncWTS	MCOW +0.66 points	0.29%	0.95%
Lantheus Holdings IncLNTH	MCOW +0.64 points	0.19%	0.83%
Watsco IncWSO	MCOW +0.63 points	0.32%	0.95%
Cognex CorpCGNX	MCOW +0.58 points	0.30%	0.88%
Donaldson Co IncDCI	MCOW +0.57 points	0.30%	0.87%
Wyndham Hotels & Resorts IncWH	MCOW +0.56 points	0.16%	0.72%
Eagle Materials IncEXP	MCOW +0.55 points	0.15%	0.70%
Landstar System IncLSTR	MCOW +0.53 points	0.17%	0.70%
Simpson Manufacturing Co IncSSD	MCOW +0.51 points	0.21%	0.72%
Dolby Laboratories IncDLB	MCOW +0.52 points	0.10%	0.62%
Grand Canyon Education IncLOPE	MCOW +0.52 points	0.11%	0.63%
UL Solutions IncULS	MCOW +0.50 points	0.15%	0.65%
Onto Innovation IncONTO	MCOW +0.50 points	0.44%	0.94%
Toro Co/TheTTC	MCOW +0.49 points	0.27%	0.76%
Nexstar Media Group IncNXST	MCOW +0.47 points	0.14%	0.61%
ExlService Holdings IncEXLS	MCOW +0.47 points	0.15%	0.62%
Applied Industrial Technologies IncAIT	MCOW +0.44 points	0.36%	0.80%
Wingstop IncWING	MCOW +0.44 points	0.08%	0.52%
Littelfuse IncLFUS	MCOW +0.43 points	0.32%	0.75%
Globus Medical IncGMED	MCOW +0.43 points	0.25%	0.68%
Sirius XM Holdings IncSIRI	MCOW +0.43 points	0.14%	0.57%
Universal Display CorpOLED	MCOW +0.41 points	0.10%	0.51%
Bath & Body Works IncBBWI	MCOW +0.38 points	0.09%	0.47%
NewMarket CorpNEU	MCOW +0.37 points	0.20%	0.57%
Genpact LtdG	MCOW +0.37 points	0.15%	0.52%
FirstCash Holdings IncFCFS	MCOW +0.36 points	0.25%	0.61%
Morningstar IncMORN	MCOW +0.34 points	0.11%	0.45%
Gentex CorpGNTX	MCOW +0.34 points	0.13%	0.47%
Choice Hotels International IncCHH	MCOW +0.33 points	0.06%	0.39%
Vontier CorpVNT	MCOW +0.31 points	0.12%	0.43%
YETI Holdings IncYETI	MCOW +0.27 points	0.09%	0.36%
UFP Industries IncUFPI	MCOW +0.25 points	0.13%	0.38%
Warner Music Group CorpWMG	MCOW +0.24 points	0.12%	0.36%
Synaptics IncSYNA	MCOW +0.20 points	0.12%	0.32%
MSC Industrial Direct Co IncMSM	MCOW +0.20 points	0.15%	0.35%
Euronet Worldwide IncEEFT	MCOW +0.19 points	0.06%	0.25%
Crane NXT CoCXT	MCOW +0.17 points	0.07%	0.24%

All 400 IVOO holdings⁠All 81 MCOW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IVOO vs MCOW Cost

Overpaying MCOW vs IVOO

$8,312

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IVOO 0.07%
$1,480
MCOW 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

IVOO 0.07%
MCOW 0.49%
Overpaying

Year by year

Year	IVOO	MCOW	Overpaying
10	$128	$883	$755
20	$503	$3,394	$2,891
30	$1,480	$9,792	$8,312

Expense ratio

0.07%IVOO, cheaper
0.49%MCOW

IVOO0.07%MCOW0.49%

0.03%0.49%

Middle half of S&P MidCap 400 funds
Median 0.15%

IVOO 3rd cheapest of 11 funds

MCOW 11th cheapest of 11 funds

IVOO vs MCOW Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IVOO 1.19%; MCOW No data
Payout (12M): IVOO $1.50; MCOW No data
Last payment: IVOO $0.37; MCOW $0.01
Ex-dividend: IVOO Sep 23, 2026; MCOW Sep 3, 2026
Paid on: IVOO Sep 25, 2026; MCOW Sep 8, 2026
Frequency: IVOO Quarterly; MCOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVOOQuarterly · 39 paymentsAll IVOO payments⁠

MCOWQuarterly · 4 paymentsAll MCOW payments⁠

IVOO vs MCOW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IVOO 15.2%MCOW 13.1%since Sep 2025
Return per unit of riskSharpe ratio, 3 years: IVOO 0.84MCOW 0.43since Sep 2025
Worst fallMax drawdown, 5 years: IVOO −24.2%MCOW −15.0%since Aug 2025
Market sensitivityBeta, 5 years: IVOO 1.03MCOW 0.85; Market = 1

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