EVG vs VYM
Eaton Vance Short Duration Diversified Income Fund 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 | EVG | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.35% | 0.04% | |
| AUM | $442M | $79.0B | |
| Dividend Yield | 7.99% | 2.86% | |
| Holdings | 740 | 568 | |
| YTD Return | +2.13% | +16.10% | |
| 1Y Return | +1.77% | +25.99% | |
| 3Y Return (annualized) | +10.35% | +18.29% | |
| 5Y Return (annualized) | +4.02% | +12.35% | |
| Volatility (annualized) | 10.8% | 14.6% | |
| Max Drawdown | -53.0% | -58.8% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 28, 2005 | Nov 10, 2006 |
EVG vs VYM Performance
Eaton Vance Short Duration Diversified Income Fund (EVG) is a ETF from Eaton Vance and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year EVG returned +1.77% while VYM returned +25.99%. Year to date, EVG is up 2.13% versus a gain of 16.10% for VYM.
Over three years, EVG compounded at +10.35% per year against +18.29% for VYM; over five years the annualized figures are +4.02% and +12.35% respectively. Across the full 20-year window we track, VYM has the edge at +7.08% annualized vs -0.54%. 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 10.8% for EVG. 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 -53.0% for EVG 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVG charges 1.35% per year while VYM charges 0.04%. On a $10,000 position that is $135 vs $4 annually, a gap of $131 per year that compounds over a long holding period. On income, EVG currently yields 7.99% against 2.86% for VYM.
Holdings Overlap
EVG and VYM share 0 holdings out of 805 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, EVG or VYM?
EVG has an expense ratio of 1.35% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $131 per year of difference.
Which performed better, EVG or VYM?
Over the past year EVG returned +1.77% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), EVG annualized -0.54% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, EVG or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 10.8% for EVG. Worst drawdown: EVG -53.0% vs VYM -58.8%.
Should I hold both EVG and VYM?
EVG and VYM have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVG and VYM?
EVG and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 805 unique securities.
Which pays a higher dividend, EVG or VYM?
EVG yields 7.99% while VYM yields 2.86%, so EVG currently pays the higher dividend yield.
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