DTF vs VYM
DTF Tax-Free Income 2028 Term Fund Inc vs Vanguard High Dividend Yield ETF
Which is better, DTF or VYM?
Municipal Bond against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 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 | DTF | VYM |
|---|---|---|
| Expense Ratio | 2.27% | 0.04%Best |
| AUM | $84M | $81.6B |
| Dividend Yield | 3.26% | 2.22% |
| Holdings | 82 | 613 |
| YTD Return | +2.13% | +11.35%Best |
| 1Y Return | +3.69% | +15.34%Best |
| 3Y Return (annualized) | +5.23% | +17.22%Best |
| 5Y Return (annualized) | -1.65% | +12.30%Best |
| Volatility (annualized) | 10.2%Best | 14.6% |
| Max Drawdown | -41.6%Best | -58.8% |
| $10,000 over 5 years | $9,202 | $17,861Best |
| Fund Family | Duff & Phelps Investment Management Co. | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Value |
| Inception | Nov 29, 1991 | 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 18, 2026 (19.8 years).
DTF 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.
DTF vs VYM Performance
DTF Tax-Free Income 2028 Term Fund Inc (DTF) is an ETF from Duff & Phelps Investment Management Co. and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year DTF returned +3.69% while VYM returned +15.34%. Year to date, DTF is up 2.13% versus a gain of 11.35% for VYM.
Over three years, DTF compounded at +5.23% per year against +17.22% for VYM; over five years the annualized figures are -1.65% and +12.30% respectively. Across the full 20-year window we track, VYM has the edge at +6.82% annualized vs -0.40%.
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 10.2% for DTF. 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 -41.6% for DTF 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 0.32. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DTF charges 2.27% per year while VYM charges 0.04%. On a $10,000 position that is $227 vs $4 annually, a gap of $223 per year that compounds over a long holding period. On income, DTF currently yields 3.26% against 2.22% for VYM.
Holdings Overlap
We hold position weights for 24 holdings in DTF and 557 in VYM, totalling 31.9% 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 182 days apart, DTF as of Jan 30, 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 24 positions we hold weights for in DTF and 557 in VYM, against full books of 82 and 613.
You are not choosing between two funds in isolation.
Whichever of DTF 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, DTF or VYM?
DTF has an expense ratio of 2.27% while VYM charges 0.04%. VYM is the cheaper option, by $223 a year on a $10,000 investment.
Which performed better, DTF or VYM?
Over the past year DTF returned +3.69% vs +15.34% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), DTF annualized -0.40% vs +6.82% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DTF or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 10.2% for DTF. Worst drawdown: DTF -41.6% vs VYM -58.8%.
Should I hold both DTF and VYM?
DTF and VYM have a monthly-return correlation of 0.32, 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, DTF or VYM?
DTF yields 3.26% while VYM yields 2.22%, so DTF currently pays the higher dividend yield.
Is VYM better than DTF?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.