MVPA vs VYM
Miller Value Partners Appreciation 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 | MVPA | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.04% | |
| AUM | $74M | $81.6B | |
| Dividend Yield | 0.52% | 2.24% | |
| Holdings | 38 | 616 | |
| YTD Return | +13.24% | +15.34% | |
| 1Y Return | +12.79% | +23.24% | |
| 3Y Return (annualized) | - | +19.22% | |
| 5Y Return (annualized) | - | +12.21% | |
| Volatility (annualized) | 21.6% | 14.6% | |
| Max Drawdown | -25.9% | -58.8% | |
| Fund Family | Miller Value Funds | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2024 | Nov 10, 2006 |
MVPA vs VYM Performance
Miller Value Partners Appreciation ETF (MVPA) is a ETF from Miller Value Funds and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year MVPA returned +12.79% while VYM returned +23.24%. Year to date, MVPA is up 13.24% versus a gain of 15.34% for VYM.
Risk: Volatility and Drawdowns
MVPA has been the more volatile fund, with annualized monthly volatility of 21.6% 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 -25.9% for MVPA 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MVPA charges 0.60% per year while VYM charges 0.04%. On a $10,000 position that is $60 vs $4 annually, a gap of $56 per year that compounds over a long holding period. On income, MVPA currently yields 0.52% against 2.24% for VYM.
Holdings Overlap
MVPA and VYM share 7 holdings out of 630 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MVPA or VYM?
MVPA has an expense ratio of 0.60% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, MVPA or VYM?
Over the past year MVPA returned +12.79% vs +23.24% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (3 years), MVPA annualized +18.93% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, MVPA or VYM?
MVPA has been the more volatile fund at 21.6% annualized versus 14.6% for VYM. Worst drawdown: MVPA -25.9% vs VYM -58.8%.
Should I hold both MVPA and VYM?
MVPA and VYM have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MVPA and VYM?
MVPA and VYM share 7 common holdings with a 0.7% weight overlap. Combined, they hold 630 unique securities.
Which pays a higher dividend, MVPA or VYM?
MVPA yields 0.52% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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