DVAL vs VYM
BrandywineGLOBAL-Dynamic US Large Cap Value ETF vs Vanguard High Dividend Yield ETF
Which is better, DVAL or VYM?
VYM has been ahead.
VYM has a lower expense ratio. VYM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. VYM is less concentrated, with 25.8% of the fund in its ten largest positions against 59.6%.
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 | DVAL | VYM |
|---|---|---|
| Expense Ratio | 0.49% | 0.04%Best |
| AUM | $60M | $95.8B |
| Dividend Yield | 5.15% | 2.23% |
| Holdings | 133 | 610 |
| Volatility (annualized) | 12.9% | 11.9%Best |
| Max Drawdown | -15.9% | -14.5%Best |
| $10,000 over 4 years | $15,775 | $17,158Best |
| Top 10 Weight | 59.6% | 25.8%Best |
| Fund Family | Franklin Templeton Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Dec 27, 2006 | Nov 10, 2006 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 14 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. DVAL has data through Oct 27, 2026 and VYM through Nov 10, 2026.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 31, 2022 to Oct 27, 2026 (4 years).
Risk: Volatility and Drawdowns
DVAL has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 11.9% 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 -15.9% for DVAL and -14.5% 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DVAL charges 0.49% per year while VYM charges 0.04%. On a $10,000 position that is $49 vs $4 annually, a gap of $45 per year that compounds over a long holding period. On income, DVAL currently yields 5.15% against 2.23% for VYM.
Holdings Overlap
8.5% of DVAL's money is in holdings VYM also owns. 4.0% of VYM's money is in holdings DVAL also owns.
DVAL and VYM share little of their money.
The two holdings books were reported 46 days apart, DVAL as of Oct 16, 2026 and VYM as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
5 positions in common, counted across the 32 positions we hold weights for in DVAL and 602 in VYM, against full books of 133 and 610.
What only one of them owns
Our book lists 572 positions for VYM that do not appear in our book for DVAL (94.6% of the fund), and 25 for DVAL that do not appear in VYM (85.7%).
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 DVAL 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, DVAL or VYM?
DVAL has an expense ratio of 0.49% while VYM charges 0.04%. VYM is the cheaper option, by $45 a year on a $10,000 investment.
Which is riskier, DVAL or VYM?
DVAL has been the more volatile fund at 12.9% annualized versus 11.9% for VYM. Worst drawdown: DVAL -15.9% vs VYM -14.5%.
Should I hold both DVAL and VYM?
DVAL and VYM have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DVAL and VYM?
8.5% of DVAL's money is in holdings VYM also owns. 4.0% of VYM's is in holdings DVAL also owns. They hold 5 positions in common, counted across the 32 positions we hold weights for in DVAL and 602 in VYM.
Which pays a higher dividend, DVAL or VYM?
DVAL yields 5.15% while VYM yields 2.23%, so DVAL currently pays the higher dividend yield.
Is VYM better than DVAL?
VYM has a lower expense ratio. VYM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. VYM is less concentrated, with 25.8% of the fund in its ten largest positions against 59.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.