CEFS vs VYM
Saba Opportunistically Hedged Closed-End Funds ETF vs Vanguard High Dividend Yield ETF
Which is better, CEFS or VYM?
Tactical Allocation against Large Cap Value.
VYM has a lower expense ratio. CEFS led over 3Y, 5Y and the full window, VYM over 1Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CEFS | VYM |
|---|---|---|
| Expense Ratio | 4.29% | 0.04%Best |
| AUM | $437M | $81.6B |
| Dividend Yield | 6.08% | 2.22% |
| Holdings | 68 | 613 |
| YTD Return | +8.92% | +10.23%Best |
| 1Y Return | +10.57% | +14.28%Best |
| 3Y Return (annualized) | +19.00%Best | +17.50% |
| 5Y Return (annualized) | +11.82%Best | +11.60% |
| Volatility (annualized) | 14.3%Best | 14.6% |
| Max Drawdown | -39.0% | -35.7%Best |
| $10,000 over 5 years | $17,482Best | $17,311 |
| Fund Family | Saba Capital | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Tactical Allocation | Large Cap Value |
| Inception | Mar 20, 2017 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 21, 2017 to Sep 23, 2026 (9.5 years).
CEFS vs VYM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 9.5 years both funds cover.
CEFS vs VYM Performance
Saba Opportunistically Hedged Closed-End Funds ETF (CEFS) is an ETF from Saba Capital and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CEFS returned +10.57% while VYM returned +14.28%. Year to date, CEFS is up 8.92% versus a gain of 10.23% for VYM.
Over three years, CEFS compounded at +19.00% per year against +17.50% for VYM; over five years the annualized figures are +11.82% and +11.60% respectively. Across the full 10-year window we track, CEFS has the edge at +11.20% annualized vs +9.51%.
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 14.3% for CEFS. 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 -39.0% for CEFS and -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEFS charges 4.29% per year while VYM charges 0.04%. On a $10,000 position that is $429 vs $4 annually, a gap of $425 per year that compounds over a long holding period. On income, CEFS currently yields 6.08% against 2.22% for VYM.
Holdings Overlap
We hold position weights for 60 holdings in CEFS and 557 in VYM, totalling 81.0% and 99.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 154 days apart, CEFS as of Feb 27, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 60 positions we hold weights for in CEFS and 557 in VYM, against full books of 68 and 613.
You are not choosing between two funds in isolation.
Whichever of CEFS and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CEFS or VYM?
CEFS has an expense ratio of 4.29% while VYM charges 0.04%. VYM is the cheaper option, by $425 a year on a $10,000 investment.
Which performed better, CEFS or VYM?
Over the past year CEFS returned +10.57% vs +14.28% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (10 years), CEFS annualized +11.20% vs +9.51% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEFS or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 14.3% for CEFS. Worst drawdown: CEFS -39.0% vs VYM -35.7%.
Should I hold both CEFS and VYM?
CEFS and VYM have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CEFS or VYM?
CEFS yields 6.08% while VYM yields 2.22%, so CEFS currently pays the higher dividend yield.
Is VYM better than CEFS?
VYM has a lower expense ratio. CEFS led over 3Y, 5Y and the full window, VYM over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.