ETF Explainer: MGK

Examining the twists and turns of a mega-cap heavyweight.

Reviewed by: Heather Bell
Edited by: Heather Bell

Each month, we look at an ETF selected by based on its performance and importance to investors. This month, we consider the performance of the $12.8 billion Vanguard Mega Cap Growth ETF (MGK), a tech-heavy fund focused on the top tier of large cap growth stocks. All the companies mentioned below are holdings in MGK, unless otherwise noted (*).



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OCT 12 In the leadup to Amazon Prime Day (Oct. 13), the company’s stock rises in anticipation of higher sales despite the pandemic, as Prime members tend to be higher-income earners

NOV 5 With election results still pending, top tech companies in MGK soar on expectations of gridlock in Congress, which will likely stave off prospects of higher corporate taxes.

JAN 28 Facebook’s Oversight Board overturns several of the company’s decisions to remove potentially offensive content in four of five cases, its first batch of judgments since forming in fall 2020.

MAR 4 Inflation fears put downward pressure on tech stocks, with Tesla shares particularly hard hit. The company also faces growing competition, parts shortages and increasing costs.

MAY 12 Tech stocks including Apple lead a market downturn spurred once again by inflation fears and concerns about sky-high market valuations in the sector.

JUL 16 NVIDIA stock sees a multiday decline, hurt by less demand from the cryptocurrency space and news of Intel’s* possible acquisition of Advanced Micro Devices.

Source: Bloomberg; data for 8/31/2020-8/31/2021

Heather Bell is a former managing editor of She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.