Looking to add to his immense treasure, Smaug descends with fire and death on Casterly Rock, to plunder the fabled wealth of House Lannister for himself. But the Lannisters aren't completely abandoned. For out of the skies comes their ally, Prince Aemond Targaryen upon Vhagar. Smaug hasn't had a challenge like this in centuries. He eagerly rises up to meet them, in what will surely be the ultimate Dance of the Dragons.
.
The production team for House of the Dragon puts Vhagar's size as 90 meters long, with a 150 meter wingspan. At 130 meters, Smaug is longer, but his 110 meter wingspan is smaller than Vhagar's. Vhagar also has a bulkier, more robust body as opposed to Smaug's long and serpentine frame. Smaug is older, but he isn't really affected by age as Vhagar is; he is much more agile and nimble in both land and air. The dragons of Middle-earth can also cast spells with their gaze, and to quote George R.R. Martin, they, like, talk. All in all, I'd say Smaug, Chiefest and Greatest of Calamities, outmatches Granny Vhagar in almost every way. But it would be a terrific fight nonetheless.