DHF vs VYM
BNY Mellon High Yield Strategies Fund vs Vanguard High Dividend Yield ETF
Which is better, DHF or VYM?
High Yield Bond against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. DHF is less concentrated, with 13.4% of the fund in its ten largest positions against 25.9%.
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 | DHF | VYM |
|---|---|---|
| Expense Ratio | 1.71% | 0.04%Best |
| AUM | $195M | $81.6B |
| Dividend Yield | 7.87% | 2.24% |
| Holdings | 318 | 613 |
| YTD Return | -0.29% | +14.82%Best |
| 1Y Return | -1.56% | +20.84%Best |
| 3Y Return (annualized) | +11.33% | +18.64%Best |
| 5Y Return (annualized) | +1.62% | +12.28%Best |
| Volatility (annualized) | 17.8% | 14.5%Best |
| Max Drawdown | -64.8% | -58.8%Best |
| $10,000 over 5 years | $10,837 | $17,845Best |
| Top 10 Weight | 13.4%Best | 25.9% |
| Fund Family | BNY Mellon Investment Management | Vanguard (US) |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Value |
| Inception | Apr 29, 1998 | 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).
DHF 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.
DHF vs VYM Performance
BNY Mellon High Yield Strategies Fund (DHF) is an ETF from BNY Mellon Investment Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year DHF returned -1.56% while VYM returned +20.84%. Year to date, DHF is down 0.29% versus a gain of 14.82% for VYM.
Over three years, DHF compounded at +11.33% per year against +18.64% for VYM; over five years the annualized figures are +1.62% and +12.28% respectively. Across the full 20-year window we track, VYM has the edge at +7.00% annualized vs -0.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DHF has been the more volatile fund, with annualized monthly volatility of 17.8% 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 DHF 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 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DHF charges 1.71% per year while VYM charges 0.04%. On a $10,000 position that is $171 vs $4 annually, a gap of $167 per year that compounds over a long holding period. On income, DHF currently yields 7.87% against 2.24% for VYM.
Holdings Overlap
We hold position weights for 217 holdings in DHF and 603 in VYM, totalling 99.3% and 99.5% 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 91 days apart, DHF 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.
0 positions in common, counted across the 217 positions we hold weights for in DHF and 603 in VYM, against full books of 318 and 613.
What only one of them owns
Our book lists 570 positions for VYM that do not appear in our book for DHF (97.4% of the fund), and 216 for DHF that do not appear in VYM (99.0%).
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.
You are not choosing between two funds in isolation.
Whichever of DHF 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, DHF or VYM?
DHF has an expense ratio of 1.71% while VYM charges 0.04%. VYM is the cheaper option, by $167 a year on a $10,000 investment.
Which performed better, DHF or VYM?
Over the past year DHF returned -1.56% vs +20.84% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), DHF annualized -0.75% vs +7.00% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DHF or VYM?
DHF has been the more volatile fund at 17.8% annualized versus 14.5% for VYM. Worst drawdown: DHF -64.8% vs VYM -58.8%.
Should I hold both DHF and VYM?
DHF and VYM have a monthly-return correlation of 0.59, 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, DHF or VYM?
DHF yields 7.87% while VYM yields 2.24%, so DHF currently pays the higher dividend yield.
Is VYM better than DHF?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. DHF is less concentrated, with 13.4% of the fund in its ten largest positions against 25.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.