Vanguard completed three ETF splits on April 21, 2026: an 8-for-1 split for Vanguard Information Technology ETF, a 6-for-1 split for Vanguard Growth ETF, and a 5-for-1 split for Vanguard Mega Cap Growth ETF. The lower per-share prices changed share counts but not underlying holdings. The Information Technology ETF holds 100% information technology and concentrates on semiconductors and platform software. The Mega Cap Growth ETF and Growth ETF track broader indexes that dilute technology exposure with consumer, communications, and hundreds of other growth stocks. Over the following five weeks, the Information Technology ETF delivered about double the post-split return of the growth funds. Strong semiconductor and AI-related results from Nvidia and Broadcom, along with Apple’s gains, supported the outperformance, while Meta and Microsoft lagged due to higher capex guidance.
"On April 21, 2026, Vanguard executed an 8-for-1 split on Vanguard Information Technology ETF ( NYSEARCA: VGT | VGT Price Prediction), a 6-for-1 split on Vanguard Growth ETF ( NYSEARCA: VUG), and a 5-for-1 split on Vanguard Mega Cap Growth ETF ( NYSEARCA: MGK). Investors choosing between these exchange-traded funds at their new lower per-share prices are getting three very different bets on the same mega-cap names, and one has run hardest by a wide margin."
"The Information Technology ETF tracks the MSCI US IMI/Information Technology 25/50 and holds 100% information technology. This represents a concentrated wager on semiconductors and platform software. The Mega Cap Growth fund tracks the CRSP US Mega Cap Growth Index, mixing tech giants with consumer and communications names. The Growth ETF is the broadest of the three, diluting tech with hundreds of growth stocks outside the sector."
"The five-week gap traces directly to who owns the right semis. Nvidia posted Q1 FY27 revenue of $81.615 billion, up 85.23% year-over-year, with CEO Jensen Huang calling AI infrastructure "the largest infrastructure expansion in human history." Broadcom delivered $8.40 billion in Q1 AI revenue, up 106% year over year, and is guiding Q2 AI semiconductor revenue to $10.70 billion. Apple, the largest Information Technology ETF weight, ran +17.52% since the split on a $111.18 billion quarter."
"The growth funds lagged. Meta fell 5.02% since April 21 as capex guidance climbed to $125 billion to $145 billion. Microsoft barely budged at 0.89%. Those names carry heavier weight in the Mega Cap Growth ETF and Growth ETF than in the Information Technology fund."
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