CII vs VYM
BlackRock Enhanced Capital and Income Fund, Inc vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. CII delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | CII | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.91% | 0.04% | |
| AUM | $1.1B | $81.6B | |
| Dividend Yield | 16.48% | 2.24% | |
| Holdings | 147 | 616 | |
| YTD Return | +10.52% | +16.42% | |
| 1Y Return | +30.48% | +24.22% | |
| 3Y Return (annualized) | +21.30% | +19.03% | |
| 5Y Return (annualized) | +13.28% | +12.21% | |
| Volatility (annualized) | 17.9% | 14.6% | |
| Max Drawdown | -64.8% | -58.8% | |
| Fund Family | BlackRock, Inc. (US) | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 27, 2004 | Nov 10, 2006 |
CII vs VYM Performance
BlackRock Enhanced Capital and Income Fund, Inc (CII) is a ETF from BlackRock, Inc. (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CII returned +30.48% while VYM returned +24.22%. Year to date, CII is up 10.52% versus a gain of 16.42% for VYM.
Over three years, CII compounded at +21.30% per year against +19.03% for VYM; over five years the annualized figures are +13.28% and +12.21% respectively. Across the full 20-year window we track, VYM has the edge at +7.10% annualized vs +3.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CII has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 14.6% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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
CII and VYM share 10 holdings out of 630 unique holdings combined, representing a 6.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $87 per year of difference.
Which performed better, CII or VYM?
Over the past year CII returned +30.48% vs +24.22% for VYM, so CII leads on 1-year performance. Over the longest common window we track (20 years), CII annualized +3.26% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, CII or VYM?
CII has been the more volatile fund at 17.9% annualized versus 14.6% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CII and VYM?
CII and VYM share 10 common holdings with a 6.9% weight overlap. Combined, they hold 630 unique securities.
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.
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