PHDG vs VYM
Invesco S&P 500 Downside Hedged ETF vs Vanguard High Dividend Yield ETF
Which is better, PHDG or VYM?
All Cap Blend against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 42.1%.
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 | PHDG | VYM |
|---|---|---|
| Expense Ratio | 0.39% | 0.04%Best |
| AUM | $62M | $81.6B |
| Dividend Yield | 1.67% | 2.22% |
| Holdings | 514 | 613 |
| YTD Return | +10.64% | +13.08%Best |
| 1Y Return | +12.42% | +17.46%Best |
| 3Y Return (annualized) | +10.53% | +17.73%Best |
| 5Y Return (annualized) | +4.09% | +12.22%Best |
| Volatility (annualized) | 9.8%Best | 13.3% |
| Max Drawdown | -23.6%Best | -35.7% |
| $10,000 over 5 years | $12,219 | $17,797Best |
| Top 10 Weight | 42.1% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Value |
| Inception | Dec 5, 2012 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Dec 6, 2012 to Sep 14, 2026 (13.8 years).
PHDG 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 13.8 years both funds cover.
PHDG vs VYM Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PHDG returned +12.42% while VYM returned +17.46%. Year to date, PHDG is up 10.64% versus a gain of 13.08% for VYM.
Over three years, PHDG compounded at +10.53% per year against +17.73% for VYM; over five years the annualized figures are +4.09% and +12.22% respectively. Across the full 14-year window we track, VYM has the edge at +10.21% annualized vs +4.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 9.8% for PHDG. 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 -23.6% for PHDG and -35.7% 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 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PHDG charges 0.39% per year while VYM charges 0.04%. On a $10,000 position that is $39 vs $4 annually, a gap of $35 per year that compounds over a long holding period. On income, PHDG currently yields 1.67% against 2.22% for VYM.
Holdings Overlap
28.7% of PHDG's money is in holdings VYM also owns. 89.7% of VYM's money is in holdings PHDG also owns.
Most of VYM is already inside PHDG. Owning both mostly buys the same companies twice.
246 positions in common, counted across the 486 positions we hold weights for in PHDG and 557 in VYM, against full books of 514 and 613.
What only one of them owns
Our book lists 283 positions for VYM that do not appear in our book for PHDG (7.6% of the fund), and 234 for PHDG that do not appear in VYM (65.3%).
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.
Top Shared Holdings
| Stock | Weight in PHDG | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 2.23% | 7.35% | 5.12% |
| JPMJpmorgan Chase | 1.21% | 3.82% | 2.61% |
| XOMExxon Mobil Corp. | 0.85% | 2.63% | 1.78% |
| JNJJohnson & Johnson - Common | 0.82% | 2.51% | 1.69% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.56% | 1.86% | 1.30% |
| ABBVAbbvie Inc. | 0.58% | 1.80% | 1.22% |
| BACBank of America Corp.: Financials | 0.51% | 1.66% | 1.15% |
| CVXChevron Corp | 0.50% | 1.48% | 0.98% |
| CATCaterpillar, Inc. | 0.47% | 1.50% | 1.03% |
| UNHUnitedhealth Group Incorporated | 0.45% | 1.52% | 1.07% |
89.7% of VYM is already inside PHDG.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PHDG or VYM?
PHDG has an expense ratio of 0.39% while VYM charges 0.04%. VYM is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, PHDG or VYM?
Over the past year PHDG returned +12.42% vs +17.46% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (14 years), PHDG annualized +4.25% vs +10.21% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PHDG or VYM?
VYM has been the more volatile fund at 13.3% annualized versus 9.8% for PHDG. Worst drawdown: PHDG -23.6% vs VYM -35.7%.
Should I hold both PHDG and VYM?
PHDG and VYM have a monthly-return correlation of 0.56, 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 PHDG and VYM?
89.7% of VYM's money is in holdings PHDG also owns. 89.7% of VYM's is in holdings PHDG also owns. They hold 246 positions in common, counted across the 486 positions we hold weights for in PHDG and 557 in VYM.
Which pays a higher dividend, PHDG or VYM?
PHDG yields 1.67% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than PHDG?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 42.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.