EFZ vs VYM
ProShares Short MSCI EAFE vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | EFZ | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.04% | |
| AUM | $10M | $79.0B | |
| Dividend Yield | 3.98% | 2.86% | |
| Holdings | 6 | 568 | |
| YTD Return | -11.19% | +15.80% | |
| 1Y Return | -16.99% | +26.12% | |
| 3Y Return (annualized) | -11.62% | +18.25% | |
| 5Y Return (annualized) | -6.60% | +12.51% | |
| Volatility (annualized) | 17.5% | 14.6% | |
| Max Drawdown | -90.3% | -58.8% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Oct 23, 2007 | Nov 10, 2006 |
EFZ vs VYM Performance
ProShares Short MSCI EAFE (EFZ) is a ETF from ProShares and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year EFZ returned -16.99% while VYM returned +26.12%. Year to date, EFZ is down 11.19% versus a gain of 15.80% for VYM.
Over three years, EFZ compounded at -11.62% per year against +18.25% for VYM; over five years the annualized figures are -6.60% and +12.51% respectively. Across the full 19-year window we track, VYM has the edge at +7.07% annualized vs -8.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EFZ has been the more volatile fund, with annualized monthly volatility of 17.5% 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 -90.3% for EFZ 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 -0.80. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EFZ charges 0.95% per year while VYM charges 0.04%. On a $10,000 position that is $95 vs $4 annually, a gap of $91 per year that compounds over a long holding period. On income, EFZ currently yields 3.98% against 2.86% for VYM.
Holdings Overlap
EFZ and VYM share 0 holdings out of 559 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EFZ or VYM?
EFZ has an expense ratio of 0.95% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, EFZ or VYM?
Over the past year EFZ returned -16.99% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (19 years), EFZ annualized -8.66% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, EFZ or VYM?
EFZ has been the more volatile fund at 17.5% annualized versus 14.6% for VYM. Worst drawdown: EFZ -90.3% vs VYM -58.8%.
Should I hold both EFZ and VYM?
EFZ and VYM have a monthly-return correlation of -0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EFZ and VYM?
EFZ and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, EFZ or VYM?
EFZ yields 3.98% while VYM yields 2.86%, so EFZ currently pays the higher dividend yield.
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