EWX vs VYM
State Street SPDR S&P Emerging Markets Small Cap ETF vs Vanguard High Dividend Yield ETF
Which is better, EWX or VYM?
Small Cap Blend against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% of the fund in its ten largest positions against 25.9%.
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 | EWX | VYM |
|---|---|---|
| Expense Ratio | 0.65% | 0.04%Best |
| AUM | $704M | $81.6B |
| Dividend Yield | 2.73% | 2.24% |
| Holdings | 3,452 | 613 |
| YTD Return | +11.65% | +14.33%Best |
| 1Y Return | +12.38% | +20.01%Best |
| 3Y Return (annualized) | +12.68% | +18.43%Best |
| 5Y Return (annualized) | +6.68% | +12.16%Best |
| Volatility (annualized) | 21.4% | 14.9%Best |
| Max Drawdown | -63.9% | -53.4%Best |
| $10,000 over 5 years | $13,817 | $17,750Best |
| Top 10 Weight | 3.7%Best | 25.9% |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Value |
| Inception | May 12, 2008 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: May 16, 2008 to Sep 8, 2026 (18.3 years).
EWX 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 18.3 years both funds cover.
EWX vs VYM Performance
State Street SPDR S&P Emerging Markets Small Cap ETF (EWX) is an ETF from SPDR State Street Global Advisors and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year EWX returned +12.38% while VYM returned +20.01%. Year to date, EWX is up 11.65% versus a gain of 14.33% for VYM.
Over three years, EWX compounded at +12.68% per year against +18.43% for VYM; over five years the annualized figures are +6.68% and +12.16% respectively. Across the full 18-year window we track, VYM has the edge at +7.73% annualized vs +2.44%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWX has been the more volatile fund, with annualized monthly volatility of 21.4% compared with 14.9% 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 -63.9% for EWX and -53.4% 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EWX charges 0.65% per year while VYM charges 0.04%. On a $10,000 position that is $65 vs $4 annually, a gap of $61 per year that compounds over a long holding period. On income, EWX currently yields 2.73% against 2.24% for VYM.
Holdings Overlap
0.1% of EWX's money is in holdings VYM also owns. 3.7% of VYM's money is in holdings EWX also owns.
VYM and EWX share little of their money.
The two holdings books were reported 91 days apart, EWX as of Mar 31, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
4 positions in common, counted across the 3,275 positions we hold weights for in EWX and 602 in VYM, against full books of 3,452 and 613.
What only one of them owns
Our book lists 564 positions for VYM that do not appear in our book for EWX (93.6% of the fund), and 50 for EWX that do not appear in VYM (1.9%).
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 EWX 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, EWX or VYM?
EWX has an expense ratio of 0.65% while VYM charges 0.04%. VYM is the cheaper option, by $61 a year on a $10,000 investment.
Which performed better, EWX or VYM?
Over the past year EWX returned +12.38% vs +20.01% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (18 years), EWX annualized +2.44% vs +7.73% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EWX or VYM?
EWX has been the more volatile fund at 21.4% annualized versus 14.9% for VYM. Worst drawdown: EWX -63.9% vs VYM -53.4%.
Should I hold both EWX and VYM?
EWX and VYM have a monthly-return correlation of 0.71, 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 EWX and VYM?
3.7% of VYM's money is in holdings EWX also owns. 3.7% of VYM's is in holdings EWX also owns. They hold 4 positions in common, counted across the 3,275 positions we hold weights for in EWX and 602 in VYM.
Which pays a higher dividend, EWX or VYM?
EWX yields 2.73% while VYM yields 2.24%, so EWX currently pays the higher dividend yield.
Is VYM better than EWX?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% of the fund in its ten largest positions against 25.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.