VOO ETF's tech overweight and growth bias revealed

The Vanguard S&P 500 ETF holds 35% in technology stocks, its highest level since 2011. Growth stocks make up 50% of the fund, also a record since inception. The top 10 holdings account for nearly 40% of assets, a since-inception high. The fund's 327% total return over ten years reflects strong performance but masks sector concentration. Investors may assume broad diversification when the index is heavily skewed toward tech and growth.