Investing · ETF deep dive
VGRO Vanguard Growth ETF Portfolio
The 80/20 default for accumulators: nearly all the growth of VEQT with a bond shock-absorber that earns its keep in bad years.
Best for: Long-term savers who want stock-like growth but would rather not experience a full equity drawdown
Pros
- The classic accumulation mix — 80% global stocks, 20% investment-grade bonds
- Over 30,000 underlying securities through one ticker
- Foreign bond sleeves are CAD-hedged, so the ballast actually behaves like ballast
- Quarterly distributions (1.47% yield as of May 31, 2026)
Cons
- Published 0.24% MER predates the November 2025 fee cut
- 20% bonds blunt long-bull-market returns versus VEQT
- Same bond sleeve as every sibling — no customization
What's inside VGRO
| Underlying fund | Weight |
|---|---|
| Vanguard US Total Market Index ETF | 36.4% |
| Vanguard FTSE Canada All Cap Index ETF | 24.8% |
| Vanguard FTSE Developed All Cap ex North America Index ETF | 14.8% |
| Vanguard Canadian Aggregate Bond Index ETF | 11.0% |
| Vanguard FTSE Emerging Markets All Cap Index ETF | 5.7% |
| Vanguard Global ex-US Aggregate Bond Index ETF (CAD-hedged) | 3.7% |
| Vanguard US Aggregate Bond Index ETF (CAD-hedged) | 3.6% |
Equity sleeve ≈ US 44.6% · Canada 30.4% · Developed 18.1% · EM 7.0% (Derived from underlying fund weights (Vanguard publishes country-level tables, not four-bucket splits)) · holdings as of April 30, 2026
The deep dive
VGRO adds three bond funds to VEQT’s four equity sleeves: Canadian aggregate bonds plus US and global aggregate sleeves that are explicitly CAD-hedged — meaning the defensive 20% won’t whipsaw with the currency, which is the whole point of holding it. The bond block is identical across VGRO, VBAL, VCNS and VCIP (17,115 bonds, AA- average quality, ~6.5-year duration); only the dose changes.
At 80/20 you keep roughly all of the long-run growth engine while historically shaving the worst drawdowns meaningfully — the trade most accumulators should make once portfolios get big enough to feel scary. If even 20% bonds feels like a drag, you want VEQT; if 2022-style years kept you up, step down to VBAL.
Same family, different dose
The Vanguard Canada ladder lets you change risk level without changing philosophy:
- VEQT — 100/0 · 0.24% MER · annually distributions
- VBAL — 60/40 · 0.24% MER · quarterly distributions
- VCNS — 40/60 · 0.25% MER · quarterly distributions
- VCIP — 20/80 · 0.25% MER · quarterly distributions
- VRIF — ~30/70 actual (actively allocated) · 0.32% MER · monthly distributions
Frequently asked questions
What does VGRO hold?
VGRO holds 80/20 — led by Vanguard US Total Market Index ETF at 36.4%, Vanguard FTSE Canada All Cap Index ETF at 24.8%, Vanguard FTSE Developed All Cap ex North America Index ETF at 14.8% (as of April 30, 2026). Looking through to the securities level, that's 13,726 stocks + 17,115 bonds in one ticker. Geographic mix: Equity sleeve ≈ US 44.6% · Canada 30.4% · Developed 18.1% · EM 7.0% (derived from underlying fund weights (vanguard publishes country-level tables, not four-bucket splits)). Weights drift between rebalances — rebalanced “from time to time” at the sub-advisor’s discretion.
What does VGRO cost?
Currently 0.17% management fee; 0.24% published MER (fact sheets dated April 30, 2026 (MERs predate the Nov 2025 fee cut)). For context, the asset-allocation category now runs roughly 0.17%–0.25% all-in at the index families after the 2025 fee war — see the full cost table, and what fee gaps compound into with the MER calculator.
Should I pick VGRO or one of its siblings?
The Vanguard Canada ladder runs VEQT · VGRO · VBAL · VCNS · VCIP · VRIF — same construction, different equity/bond dose. VGRO sits at 80/20. The risk level is the decision that matters; pick the rung whose worst year you could actually sit through (the asset-allocation calculator helps), then stay put. Comparing across providers instead? Start with the family-by-family guide.
The bottom line
The boring, correct default for a long-horizon TFSA or RRSP. Identical philosophy to XGRO with a heavier Canada tilt — pick the tilt, automate the contributions, stop looking.
This page is for educational purposes only and is not investment advice. Fund facts were verified at Vanguard Canada's published fact sheets and product pages on June 10, 2026; holdings and weights are point-in-time and drift between rebalances; published MERs may lag recent fee changes (fact sheets dated April 30, 2026 (MERs predate the Nov 2025 fee cut)). We deliberately do not compare or project returns. Read the fund facts document before buying. See our methodology.