EMLP vs VYM
First Trust North American Energy Infrastructure Fund vs Vanguard High Dividend Yield ETF
Which is better, EMLP or VYM?
Mid Cap Value against Large Cap Value.
VYM has a lower expense ratio. EMLP led over 3Y and 5Y, VYM over 1Y and the full window. VYM is less concentrated, with 25.8% of the fund in its ten largest positions against 42.8%.
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 | EMLP | VYM |
|---|---|---|
| Expense Ratio | 0.95% | 0.04%Best |
| AUM | $4.1B | $95.8B |
| Dividend Yield | 2.74% | 2.23% |
| Holdings | 120 | 610 |
| YTD Return | +16.52%Best | +14.91% |
| 1Y Return | +17.29% | +18.73%Best |
| 3Y Return (annualized) | +22.11%Best | +20.11% |
| 5Y Return (annualized) | +15.73%Best | +11.36% |
| Volatility (annualized) | 15.4% | 13.1%Best |
| Max Drawdown | -48.0% | -35.7%Best |
| $10,000 over 5 years | $20,760Best | $17,126 |
| Top 10 Weight | 42.8% | 25.8%Best |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | Jun 20, 2012 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 21, 2012 to Nov 10, 2026 (14.4 years).
EMLP 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 14.4 years both funds cover.
EMLP vs VYM Performance
First Trust North American Energy Infrastructure Fund (EMLP) is an ETF from First Trust Portfolios (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year EMLP returned +17.29% while VYM returned +18.73%. Year to date, EMLP is up 16.52% versus a gain of 14.91% for VYM.
Over three years, EMLP compounded at +22.11% per year against +20.11% for VYM; over five years the annualized figures are +15.73% and +11.36% respectively. Across the full 14-year window we track, VYM has the edge at +10.28% annualized vs +7.08%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMLP has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 13.1% 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 -48.0% for EMLP and -35.7% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EMLP 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, EMLP currently yields 2.74% against 2.23% for VYM.
Holdings Overlap
56.5% of EMLP's money is in holdings VYM also owns. 5.0% of VYM's money is in holdings EMLP also owns.
The two portfolios partly overlap.
The two holdings books were reported 46 days apart, EMLP 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.
35 positions in common, counted across the 58 positions we hold weights for in EMLP and 602 in VYM, against full books of 120 and 610.
What only one of them owns
Our book lists 542 positions for VYM that do not appear in our book for EMLP (93.6% of the fund), and 17 for EMLP that do not appear in VYM (34.3%).
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.
Top Shared Holdings
| Stock | Weight in EMLP | Weight in VYM | Difference |
|---|---|---|---|
| KMIKinder Morgan Inc./de | 3.96% | 0.25% | 3.71% |
| NFGNational Fuel Gas Co | 3.87% | 0.03% | 3.84% |
| SOSouthern Co. | 2.91% | 0.40% | 2.51% |
| PPLPpl Corp (Utilities) | 2.90% | 0.10% | 2.80% |
| DUKDuke Energy Corp | 2.57% | 0.38% | 2.19% |
| AEPAmerican Electri | 2.37% | 0.27% | 2.10% |
| OKEOneok, Inc. | 2.34% | 0.24% | 2.10% |
| ETREntergy Corp. | 2.34% | 0.20% | 2.14% |
| OGSOne Gas Inc | 2.25% | 0.02% | 2.23% |
| SRESempra Common Stock | 2.03% | 0.22% | 1.81% |
56.5% of EMLP is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, EMLP or VYM?
EMLP has an expense ratio of 0.95% while VYM charges 0.04%. VYM is the cheaper option, by $91 a year on a $10,000 investment.
Which performed better, EMLP or VYM?
Over the past year EMLP returned +17.29% vs +18.73% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (14 years), EMLP annualized +7.08% vs +10.28% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EMLP or VYM?
EMLP has been the more volatile fund at 15.4% annualized versus 13.1% for VYM. Worst drawdown: EMLP -48.0% vs VYM -35.7%.
Should I hold both EMLP and VYM?
EMLP and VYM have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EMLP and VYM?
56.5% of EMLP's money is in holdings VYM also owns. 5.0% of VYM's is in holdings EMLP also owns. They hold 35 positions in common, counted across the 58 positions we hold weights for in EMLP and 602 in VYM.
Which pays a higher dividend, EMLP or VYM?
EMLP yields 2.74% while VYM yields 2.23%, so EMLP currently pays the higher dividend yield.
Is VYM better than EMLP?
VYM has a lower expense ratio. EMLP led over 3Y and 5Y, VYM over 1Y and the full window. VYM is less concentrated, with 25.8% of the fund in its ten largest positions against 42.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.