VO ETF — Vanguard Morningstar Mid-Cap ETF

Vanguard Morningstar Mid-Cap ETF (VO)

Updated October 2, 2026.

VO is a low-cost ETF that tracks the Morningstar US Mid Cap Index. its distribution rate is 1.46%, its trailing-12-month yield is 1.38%, its expense ratio is 0.03%. Dividend Vision Distribution Safety Score™ is 97/100 (Safe). Total return is 795.6% over the past 22.7 years, 131.3 points behind SPY at 926.9%.

At the current 1.46% distribution rate, a $10,000 investment would generate approximately $146 per year, or about $36.50 per quarter if the next payment matches the last regular one.

Vanguard Morningstar Mid-Cap ETF is an index fund that tracks the Morningstar US Mid Cap Index, holding a broad, diversified portfolio of mid-size U.S. company stocks in the same proportions as the index. The fund carries a modest expense ratio of 0.03% and distributes income on a quarterly basis at a modest current yield. It appeals to investors seeking low-cost, broad exposure to the U.S. mid-cap equity market.

VO performance versus SPY

Price and return data through 2026-10-02.

Total return is 795.6% over the past 22.7 years, 131.3 points behind SPY at 926.9%. Over the past year its total return — price change plus distributions reinvested — is 9.7%. Its deepest 1-year drawdown was 8.2%.

VO key facts

Distribution Safety Score™

97 · Safe

Safety-Adjusted Yield

1.42%

Issuer

Vanguard

Asset type

ETF

Asset class

Equity

Inception date

01/26/2004

Expense ratio

0.03%

Distribution rate

1.46%

Distribution frequency

Quarterly

Trailing yield

1.38%

Last close

$79.59 (as of 2026-10-02)

AUM

$105,304,980,531

Market cap

$11,791,252,480

Average volume

3415300.0

Last dividend

$0.2899

Last ex-dividend date

09/28/2026

Last payment date

09/30/2026

Beta

0.93

P/E ratio

21.384

How Dividend Vision calculates yield and returns

Distribution rate (1.46%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (1.38%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Vanguard or company page; Index: Morningstar US Mid Cap Index; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

VO risks and drawbacks

VO's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.2%.

Who may consider VO — and who may not

VO may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (VO pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare VO

VO vs similar funds:

• VO vs IJH
• VO vs VB

Frequently asked questions

More securities from Vanguard.