Nvidia Is 7.6% of the Vanguard S&P 500 ETF (VOO) but Over 12% of These 5 Magnificent Low-Cost Vanguard ETFs. Here's My Top Pick to Buy Now.

Nvidia (NVDA +1.49%) soared 8.7% on Aug. 27, after the company delivered blowout second-quarter fiscal 2027 earnings. Nvidia’s market cap closed on Aug. 27 at $5.52 trillion — nearly a trillion more than the world’s second most valuable company, Apple.

Nvidia is so massive that it makes up a significant portion of the S&P 500 (^GSPC -0.33%) and index funds and exchange-traded funds (ETFs) that track the index, like the Vanguard S&P 500 ETF (VOO -0.33%). But investors looking to maximize their Nvidia exposure while keeping a lid on ETF fees may want to take a closer look at Vanguard ETFs that have higher Nvidia weightings than the S&P 500.

Here are five to watch, and one that stands out as the best buy now.

Betting big on Nvidia through an ETF wrapper

As of July 31, Nvidia made up 7.6% of the Vanguard S&P 500 ETF. But six ETFs hold even larger Nvidia positions. And five have more than 12% weightings in Nvidia.

Data source: Vanguard. Holdings as of July 31, 2026.

The Vanguard Morningstar Mega Cap ETF is essentially a more concentrated version of the S&P 500, tracking the largest S&P 500 components. But that includes value stocks and growth stocks, which is why the Nvidia weighting is only slightly more than the S&P 500.

The Vanguard Morningstar Mega Cap Growth ETF has the fewest components on this list because it screens strictly for mega cap growth stocks, which leaves out the mega cap value stocks and large cap growth stocks and value stocks that you’ll find in an S&P 500 ETF.

The Vanguard S&P 500 Growth ETF filters the S&P 500 for growth stocks, while the Vanguard Russell 1000 Growth ETF screens the Russell 1000 index for growth stocks. The Vanguard Morningstar Growth ETF is very similar to the Vanguard S&P 500 Growth, but it isn’t benchmarked to the S&P 500 index, so its components can vary slightly.

The Vanguard Information Technology ETF is a technology sector ETF. So it invests strictly in stocks that are in the tech sector, like Nvidia, Apple, Microsoft, Broadcom, Micron Technology, and Advanced Micro Devices — leaving out the megacap growth stocks that are in other sectors — such as Amazon and Tesla (consumer discretionary) and communication sector components Alphabet, Meta Platforms, and Space Exploration Technologies. At 0.09%, the Vanguard Tech ETF has the highest expense ratio of the ETFs discussed. But that’s still just $9 per $10,000 invested, which is far lower than the fees many actively managed ETFs and mutual funds charge.

A top ETF for loading up on AI stocks

The best ETF to buy is the one that aligns with your investment objectives, risk tolerance, and complements your existing holdings. Investors looking for more exposure to growth stocks than the S&P 500 provides may want to consider the S&P 500 Growth ETF, Russell 1000 Growth ETF, or Mega Cap Growth ETF. The Mega Cap Growth ETF is a pretty good buy for investors looking to bet big on the largest growth stocks, as it has a whopping 69.7% invested in just 10 holdings — Nvidia, Apple, Alphabet, Microsoft, Amazon, Broadcom, Meta Platforms, Eli Lilly, Tesla, and AMD.

However, investors seeking to maximize their exposure to artificial intelligence (AI) stocks may want to consider buying the Vanguard Information Technology ETF rather than growth ETFs that include stocks from other sectors. A jaw-dropping 47.9% of the fund is invested in semiconductor stocks led by Nvidia, Broadcom, Micron, and AMD. However, the ETF is also a great way to get exposure to the entire AI value chain.

It has 27.2% in Apple and Microsoft. Microsoft is a leading hyperscaler that is investing heavily in AI data centers, but it’s also a massive software and consumer electronics company — making it closer to the end user of AI upgrades and tools than semiconductor companies. Similarly, Apple is taking a capital-light approach to AI by providing the hardware upon which AI developers and tools can run. In this vein, Apple is essentially a bet that AI will be used more regularly on phones, computers, and tablets — regardless of which models or applications capture market share.

The Vanguard Information Technology ETF also holds software stocks like Salesforce, which just popped 22.6% after reporting earnings due to a partnership with Anthropic, strong demand for its AI products, and higher guidance. So while the Vanguard Information Technology ETF is a bold bet on the build-out of AI infrastructure, it also has exposure to application software companies that will increasingly layer generative and agentic AI into their offerings and, in turn, will drive demand for compute.

In sum, buying a low-cost tech sector ETF like the Vanguard Information Technology ETF is a great way to bet on the future of AI rather than just what is working today.