CII vs VYM
BlackRock Enhanced Capital and Income Fund, Inc vs Vanguard High Dividend Yield ETF
Which is better, CII or VYM?
Multi Alternative against Large Cap Value.
VYM has a lower expense ratio. CII led over 1Y, 3Y and 5Y, VYM over the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 46.5%.
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 | CII | VYM |
|---|---|---|
| Expense Ratio | 0.91% | 0.04%Best |
| AUM | $1.1B | $81.6B |
| Dividend Yield | 16.48% | 2.24% |
| Holdings | 147 | 613 |
| YTD Return | +10.30% | +14.82%Best |
| 1Y Return | +27.39%Best | +20.84% |
| 3Y Return (annualized) | +19.78%Best | +18.64% |
| 5Y Return (annualized) | +12.82%Best | +12.28% |
| Volatility (annualized) | 18.5% | 14.5%Best |
| Max Drawdown | -64.8% | -58.8%Best |
| $10,000 over 5 years | $18,278Best | $17,845 |
| Top 10 Weight | 46.5% | 25.9%Best |
| Fund Family | BlackRock, Inc. (US) | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Apr 27, 2004 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 4, 2026 (19.8 years).
CII 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.
CII vs VYM Performance
BlackRock Enhanced Capital and Income Fund, Inc (CII) is an ETF from BlackRock, Inc. (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CII returned +27.39% while VYM returned +20.84%. Year to date, CII is up 10.30% versus a gain of 14.82% for VYM.
Over three years, CII compounded at +19.78% per year against +18.64% for VYM; over five years the annualized figures are +12.82% and +12.28% respectively. Across the full 20-year window we track, VYM has the edge at +7.00% annualized vs +3.68%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CII has been the more volatile fund, with annualized monthly volatility of 18.5% 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 -64.8% for CII 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CII charges 0.91% per year while VYM charges 0.04%. On a $10,000 position that is $91 vs $4 annually, a gap of $87 per year that compounds over a long holding period. On income, CII currently yields 16.48% against 2.24% for VYM.
Holdings Overlap
28.6% of CII's money is in holdings VYM also owns. 11.6% of VYM's money is in holdings CII also owns.
CII and VYM share little of their money.
The two holdings books were reported 91 days apart, CII as of Mar 31, 2026 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.
10 positions in common, counted across the 37 positions we hold weights for in CII and 603 in VYM, against full books of 147 and 613.
What only one of them owns
Our book lists 560 positions for VYM that do not appear in our book for CII (85.8% of the fund), and 26 for CII that do not appear in VYM (70.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CII | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc Sr Un**exchange & Consent* | 2.60% | 7.29% | 4.69% |
| CVXChevron Corp | 3.07% | 1.28% | 1.79% |
| CAHCardinal Health Inc. | 3.61% | 0.23% | 3.38% |
| CMECme Group Inc. | 3.29% | 0.33% | 2.96% |
| HASHasbro Inc. | 3.56% | 0.05% | 3.51% |
| JCIJohnson Controls International Plc | 3.18% | 0.37% | 2.81% |
| WFCWells Fargo & Co. | 2.14% | 1.05% | 1.09% |
| MDTMedtronic Plc Ord Usd.1 | 2.65% | 0.42% | 2.23% |
| APDAir Products & Chemicals Inc. | 2.75% | 0.27% | 2.48% |
| ELVElevance Health Inc | 1.70% | 0.34% | 1.36% |
28.6% of CII is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CII or VYM?
CII has an expense ratio of 0.91% while VYM charges 0.04%. VYM is the cheaper option, by $87 a year on a $10,000 investment.
Which performed better, CII or VYM?
Over the past year CII returned +27.39% vs +20.84% for VYM, so CII leads on 1-year performance. Over the longest common window we track (20 years), CII annualized +3.68% vs +7.00% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CII or VYM?
CII has been the more volatile fund at 18.5% annualized versus 14.5% for VYM. Worst drawdown: CII -64.8% vs VYM -58.8%.
Should I hold both CII and VYM?
CII and VYM have a monthly-return correlation of 0.74, 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 CII and VYM?
28.6% of CII's money is in holdings VYM also owns. 11.6% of VYM's is in holdings CII also owns. They hold 10 positions in common, counted across the 37 positions we hold weights for in CII and 603 in VYM.
Which pays a higher dividend, CII or VYM?
CII yields 16.48% while VYM yields 2.24%, so CII currently pays the higher dividend yield.
Is VYM better than CII?
VYM has a lower expense ratio. CII led over 1Y, 3Y and 5Y, VYM over the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.