HYHG vs VYM
ProShares High Yield-Interest Rate Hedged ETF 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 616 holdings.
Side-by-Side Comparison
| Metric | HYHG | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.04% | |
| AUM | $200M | $81.6B | |
| Dividend Yield | 6.74% | 2.24% | |
| Holdings | 241 | 616 | |
| YTD Return | +0.33% | +15.34% | |
| 1Y Return | +2.38% | +23.24% | |
| 3Y Return (annualized) | +7.37% | +19.22% | |
| 5Y Return (annualized) | +6.31% | +12.21% | |
| Volatility (annualized) | 7.3% | 14.6% | |
| Max Drawdown | -25.7% | -58.8% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | May 21, 2013 | Nov 10, 2006 |
HYHG vs VYM Performance
ProShares High Yield-Interest Rate Hedged ETF (HYHG) is a ETF from ProShares and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year HYHG returned +2.38% while VYM returned +23.24%. Year to date, HYHG is up 0.33% versus a gain of 15.34% for VYM.
Over three years, HYHG compounded at +7.37% per year against +19.22% for VYM; over five years the annualized figures are +6.31% and +12.21% respectively. Across the full 13-year window we track, VYM has the edge at +7.04% annualized vs +3.82%. 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 7.3% for HYHG. 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 -25.7% for HYHG 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
HYHG charges 0.50% per year while VYM charges 0.04%. On a $10,000 position that is $50 vs $4 annually, a gap of $46 per year that compounds over a long holding period. On income, HYHG currently yields 6.74% against 2.24% for VYM.
Holdings Overlap
HYHG and VYM share 0 holdings out of 798 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, HYHG or VYM?
HYHG has an expense ratio of 0.50% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, HYHG or VYM?
Over the past year HYHG returned +2.38% vs +23.24% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (13 years), HYHG annualized +3.82% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, HYHG or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 7.3% for HYHG. Worst drawdown: HYHG -25.7% vs VYM -58.8%.
Should I hold both HYHG and VYM?
HYHG 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 HYHG and VYM?
HYHG and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 798 unique securities.
Which pays a higher dividend, HYHG or VYM?
HYHG yields 6.74% while VYM yields 2.24%, so HYHG currently pays the higher dividend yield.
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