CHY vs VYM
Calamos Convertible and High Income Fund vs Vanguard High Dividend Yield ETF
Which is better, CHY or VYM?
Convertibles against Large Cap Value.
VYM has a lower expense ratio. CHY led over 1Y, VYM over 3Y, 5Y and the full window.
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 | CHY | VYM |
|---|---|---|
| Expense Ratio | 1.84% | 0.04%Best |
| AUM | $1.5B | $81.6B |
| Dividend Yield | 3.97% | 2.22% |
| Holdings | 620 | 613 |
| YTD Return | +17.06%Best | +13.15% |
| 1Y Return | +24.60%Best | +17.82% |
| 3Y Return (annualized) | +13.74% | +17.99%Best |
| 5Y Return (annualized) | +4.77% | +12.16%Best |
| Volatility (annualized) | 21.6% | 14.5%Best |
| Max Drawdown | -66.9% | -58.8%Best |
| $10,000 over 5 years | $12,624 | $17,750Best |
| Fund Family | Calamos Investments | Vanguard (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Value |
| Inception | May 28, 2003 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 10, 2026 (19.8 years).
CHY 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 19.8 years both funds cover.
CHY vs VYM Performance
Calamos Convertible and High Income Fund (CHY) is an ETF from Calamos Investments and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CHY returned +24.60% while VYM returned +17.82%. Year to date, CHY is up 17.06% versus a gain of 13.15% for VYM.
Over three years, CHY compounded at +13.74% per year against +17.99% for VYM; over five years the annualized figures are +4.77% and +12.16% respectively. Across the full 20-year window we track, VYM has the edge at +6.91% annualized vs +1.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHY has been the more volatile fund, with annualized monthly volatility of 21.6% compared with 14.5% for VYM. 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 -66.9% for CHY and -58.8% 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 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CHY charges 1.84% per year while VYM charges 0.04%. On a $10,000 position that is $184 vs $4 annually, a gap of $180 per year that compounds over a long holding period. On income, CHY currently yields 3.97% against 2.22% for VYM.
Holdings Overlap
At least 2.4% of VYM's money is in holdings CHY also owns.
Only one direction is shown: for CHY, our book for it lists positions totalling 120.2% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
VYM and CHY share little of their money.
The two holdings books were reported 242 days apart, CHY as of Oct 31, 2025 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 512 positions we hold weights for in CHY and 603 in VYM, against full books of 620 and 613.
Top Shared Holdings
| Stock | Weight in CHY | Weight in VYM | Difference |
|---|---|---|---|
| NEENextera Energy Inc. | 0.96% | 0.76% | 0.20% |
| CCitigroup Inc 6.875 11/73 6.88 2173-11-15 | 0.06% | 0.94% | 0.88% |
| MCHPMicrochip Technology Inc. | 0.79% | 0.20% | 0.59% |
| ARESAres Management Corp Preferred Stock 10/27 6.75 | 0.89% | 0.09% | 0.80% |
| ALBAlbemarle Corp. | 0.67% | 0.07% | 0.60% |
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | 0.02% | 0.34% | 0.32% |
You are not choosing between two funds in isolation.
Whichever of CHY 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, CHY or VYM?
CHY has an expense ratio of 1.84% while VYM charges 0.04%. VYM is the cheaper option, by $180 a year on a $10,000 investment.
Which performed better, CHY or VYM?
Over the past year CHY returned +24.60% vs +17.82% for VYM, so CHY leads on 1-year performance. Over the longest common window we track (20 years), CHY annualized +1.29% vs +6.91% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CHY or VYM?
CHY has been the more volatile fund at 21.6% annualized versus 14.5% for VYM. Worst drawdown: CHY -66.9% vs VYM -58.8%.
Should I hold both CHY and VYM?
CHY and VYM have a monthly-return correlation of 0.64, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CHY and VYM?
At least 2.4% of VYM's money is in holdings CHY also owns. Our book for CHY is partial, so the real figure is this or higher. They hold 6 positions in common, counted across the 512 positions we hold weights for in CHY and 603 in VYM.
Which pays a higher dividend, CHY or VYM?
CHY yields 3.97% while VYM yields 2.22%, so CHY currently pays the higher dividend yield.
Is VYM better than CHY?
VYM has a lower expense ratio. CHY led over 1Y, VYM over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.