The Ultimate Excel LOOKUP Guide: VLOOKUP vs INDEX/MATCH vs XLOOKUP

Lookup functions are essential for any Excel analyst. But which one should you use?

I've been using Excel since the early 2000s. I've watched these functions evolve from VLOOKUP dominance to INDEX/MATCH sophistication to XLOOKUP simplicity.

Here's my complete breakdown of when to use each one.

VLOOKUP: The Classic (That Should Probably Retire)

=VLOOKUP(lookup_value, table_array, col_index, [match_type])

Example:

=VLOOKUP(A2, Products!A:D, 3, FALSE)

Pros:

Simple syntax that most people know
Works in older Excel versions
Familiar to stakeholders

Cons:

Can only look left-to-right (lookup column must be leftmost)
Column index is a hard-coded number (breaks if you insert columns)
Slower performance on large datasets
Can't return arrays

My take: VLOOKUP served us well for decades, but it's time to move on.

HLOOKUP: The Forgotten Sibling

Same as VLOOKUP, but looks horizontally instead of vertically. Useful when your data is arranged in rows instead of columns.

Same limitations apply. I almost never use this.

INDEX/MATCH: The Power Combo

=INDEX(return_range, MATCH(lookup_value, lookup_range, 0))

Example:

=INDEX(Products!C:C, MATCH(A2, Products!A:A, 0))

Pros:

Looks in any direction (no left-to-right limitation)
More flexible and robust than VLOOKUP
Faster performance on large datasets
Column references instead of hard-coded numbers

Cons:

More complex syntax intimidates beginners
Requires understanding two functions instead of one
Easy to mess up if you don't understand how it works

My take: This was the "pro" solution for years. If you master INDEX/MATCH, you can handle any lookup scenario.

XLOOKUP: The Modern Champion

=XLOOKUP(lookup_value, lookup_array, return_array, [if_not_found], [match_mode], [search_mode])

Example:

=XLOOKUP(A2, Products!A:A, Products!C:C, "Not Found")

Pros:

Simple, intuitive syntax (easier than INDEX/MATCH)
Looks in any direction
Built-in error handling with [if_not_found]
Returns arrays natively (great for dynamic spill)
Bi-directional lookup capability
Default exact match (no need to specify 0 or FALSE)

Cons:

Not available in Excel 2016 or earlier
Not as widely known yet (but growing)
Requires Microsoft 365 or Excel 2021+

My take: This is the future. If you have access to it, use it exclusively.

Real-World Comparison

Let's say you want to look up a product price based on SKU:

VLOOKUP:

=VLOOKUP(A2, Products!A:D, 3, FALSE)

Problem: Price must be in column 3 of your range. Insert a column? Formula breaks.

INDEX/MATCH:

=INDEX(Products!D:D, MATCH(A2, Products!A:A, 0))

Better: References specific columns. Insert columns anywhere without breaking.

XLOOKUP:

=XLOOKUP(A2, Products!A:A, Products!D:D)

Best: Clean, readable, and handles errors gracefully.

My Recommendation

Use XLOOKUP if you have Microsoft 365 or Excel 2021+. It's the most powerful and easiest to use.

Use INDEX/MATCH if you need backward compatibility or work with people who don't have XLOOKUP.

Avoid VLOOKUP for new work. The limitations aren't worth it. The only exception: you're working in a legacy file that already uses it everywhere.

Common Questions About Excel Lookup Functions

Q: I learned VLOOKUP years ago. Do I really need to relearn?

Not urgently, but yes, eventually. XLOOKUP will save you time and headaches. Budget an hour to learn it properly—it's worth the investment.

Q: Can XLOOKUP do everything INDEX/MATCH can do?

Almost everything. There are edge cases where INDEX/MATCH is still needed (like returning multiple columns), but XLOOKUP covers 95% of use cases more elegantly.

Q: What if my company uses older Excel versions?

Learn INDEX/MATCH. It works everywhere and is dramatically better than VLOOKUP. Then when your company upgrades, transition to XLOOKUP.