VO

The Vanguard Morningstar Mid‑Cap ETF (VO) invests in a broad array of U.S. mid‑cap stocks, covering all major sectors and representing the medium‑size segment of the domestic equity market. It follows a passive, full‑replication approach designed to track the Morningstar U.S. Mid‑Cap Index, holding each component in proportion to its index weight and remaining fully invested at all times. This strategy provides investors with diversified exposure to both growth and value mid‑cap companies while aiming for low tracking error and minimal expenses. VO is well suited for investors who want a core equity position that captures the performance of the U.S. mid‑cap universe, typically as a long‑term, buy‑and‑hold component of a diversified portfolio.