GVIP vs VYM
Goldman Sachs Hedge Industry VIP ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. GVIP delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | GVIP | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.04% | |
| AUM | $584M | $81.6B | |
| Dividend Yield | 0.31% | 2.24% | |
| Holdings | 53 | 616 | |
| YTD Return | +10.96% | +14.66% | |
| 1Y Return | +24.11% | +22.16% | |
| 3Y Return (annualized) | +26.89% | +18.72% | |
| 5Y Return (annualized) | +11.86% | +12.18% | |
| Volatility (annualized) | 19.1% | 14.6% | |
| Max Drawdown | -37.1% | -58.8% | |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 1, 2016 | Nov 10, 2006 |
GVIP vs VYM Performance
Goldman Sachs Hedge Industry VIP ETF (GVIP) is a ETF from Goldman Sachs Asset Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year GVIP returned +24.11% while VYM returned +22.16%. Year to date, GVIP is up 10.96% versus a gain of 14.66% for VYM.
Over three years, GVIP compounded at +26.89% per year against +18.72% for VYM; over five years the annualized figures are +11.86% and +12.18% respectively. Across the full 10-year window we track, GVIP has the edge at +16.80% annualized vs +7.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GVIP has been the more volatile fund, with annualized monthly volatility of 19.1% 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 -37.1% for GVIP 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GVIP charges 0.45% per year while VYM charges 0.04%. On a $10,000 position that is $45 vs $4 annually, a gap of $41 per year that compounds over a long holding period. On income, GVIP currently yields 0.31% against 2.24% for VYM.
Holdings Overlap
GVIP and VYM share 5 holdings out of 650 unique holdings combined, representing a 6.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GVIP or VYM?
GVIP has an expense ratio of 0.45% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, GVIP or VYM?
Over the past year GVIP returned +24.11% vs +22.16% for VYM, so GVIP leads on 1-year performance. Over the longest common window we track (10 years), GVIP annualized +16.80% vs +7.01% for VYM. Past performance does not guarantee future results.
Which is riskier, GVIP or VYM?
GVIP has been the more volatile fund at 19.1% annualized versus 14.6% for VYM. Worst drawdown: GVIP -37.1% vs VYM -58.8%.
Should I hold both GVIP and VYM?
GVIP and VYM have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GVIP and VYM?
GVIP and VYM share 5 common holdings with a 6.6% weight overlap. Combined, they hold 650 unique securities.
Which pays a higher dividend, GVIP or VYM?
GVIP yields 0.31% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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