Key Points The S&P 500's technology concentration has swelled to 33.5%, transforming this "broad market" fund into an AI and megacap growth play. Still, the fund is trading above its 25-year average valuation. Dollar-cost averaging into the fund offers a disciplined approach to navigating today's rich multiples while maintaining long-term market exposure. 10 stocks we like better than Vanguard S&P 500 ETF › Every seasoned investor knows the Vanguard S&P 500 ETF (NYSEMKT: VOO) tracks America's 5 ...