AMAX vs VYM
Adaptive Hedged Multi-Asset Income ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | AMAX | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.36% | 0.04% | |
| AUM | $68M | $79.0B | |
| Dividend Yield | 11.85% | 2.86% | |
| Holdings | 29 | 568 | |
| YTD Return | +3.43% | +16.53% | |
| 1Y Return | +6.30% | +25.03% | |
| 3Y Return (annualized) | +8.70% | +18.54% | |
| 5Y Return (annualized) | - | +12.25% | |
| Volatility (annualized) | 9.3% | 14.6% | |
| Max Drawdown | -16.3% | -58.8% | |
| Fund Family | Adaptive ETFs | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 2, 2009 | Nov 10, 2006 |
AMAX vs VYM Performance
Adaptive Hedged Multi-Asset Income ETF (AMAX) is a ETF from Adaptive ETFs and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year AMAX returned +6.30% while VYM returned +25.03%. Year to date, AMAX is up 3.43% versus a gain of 16.53% for VYM.
Over three years, AMAX compounded at +8.70% per year against +18.54% for VYM. Across the full 5-year window we track, VYM has the edge at +7.10% annualized vs +3.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 9.3% for AMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.3% for AMAX and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AMAX charges 1.36% per year while VYM charges 0.04%. On a $10,000 position that is $136 vs $4 annually, a gap of $132 per year that compounds over a long holding period. On income, AMAX currently yields 11.85% against 2.86% for VYM.
Holdings Overlap
AMAX and VYM share 0 holdings out of 573 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AMAX or VYM?
AMAX has an expense ratio of 1.36% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $132 per year of difference.
Which performed better, AMAX or VYM?
Over the past year AMAX returned +6.30% vs +25.03% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (5 years), AMAX annualized +3.28% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, AMAX or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 9.3% for AMAX. Worst drawdown: AMAX -16.3% vs VYM -58.8%.
Should I hold both AMAX and VYM?
AMAX and VYM have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AMAX and VYM?
AMAX and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 573 unique securities.
Which pays a higher dividend, AMAX or VYM?
AMAX yields 11.85% while VYM yields 2.86%, so AMAX currently pays the higher dividend yield.
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