Exchange-traded funds (ETFs) are a simple and hands-off way to gain exposure to a variety of companies. Many low-cost Vanguard index funds mirror the performance of the major benchmarks like the S 500 and the Nasdaq Composite -- achieving diversification and broad-based market exposure. However, some Vanguard funds charge low fees and have characteristics that give them an edge over alternatives.

The Vanguard S 500 Growth ETF (NYSEMKT: VOOG) has crushed the performance of the S 500 and the Nasdaq Composite this year. And best of all, the fund charges a 0.10% expense ratio, meaning that $1,000 invested in the fund incurs just $1 in annual fees.

Here's how the fund stacks up against other Vanguard ETFs and why it's a good buy now.

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Source Fool.com