PHK vs VYM
PIMCO High Income Fund 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 558 holdings.
Side-by-Side Comparison
| Metric | PHK | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 2.92% | 0.04% | |
| AUM | $845M | $79.0B | |
| Dividend Yield | 12.72% | 2.86% | |
| Holdings | 468 | 568 | |
| YTD Return | +3.87% | +15.80% | |
| 1Y Return | +7.54% | +26.12% | |
| 3Y Return (annualized) | +9.81% | +18.25% | |
| 5Y Return (annualized) | +3.35% | +12.51% | |
| Volatility (annualized) | 26.4% | 14.6% | |
| Max Drawdown | -80.9% | -58.8% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 30, 2003 | Nov 10, 2006 |
PHK vs VYM Performance
PIMCO High Income Fund (PHK) is a ETF from PIMCO (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PHK returned +7.54% while VYM returned +26.12%. Year to date, PHK is up 3.87% versus a gain of 15.80% for VYM.
Over three years, PHK compounded at +9.81% per year against +18.25% for VYM; over five years the annualized figures are +3.35% and +12.51% respectively. Across the full 20-year window we track, VYM has the edge at +7.07% annualized vs -2.31%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHK has been the more volatile fund, with annualized monthly volatility of 26.4% 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 -80.9% for PHK 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHK charges 2.92% per year while VYM charges 0.04%. On a $10,000 position that is $292 vs $4 annually, a gap of $288 per year that compounds over a long holding period. On income, PHK currently yields 12.72% against 2.86% for VYM.
Holdings Overlap
PHK and VYM share 0 holdings out of 580 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, PHK or VYM?
PHK has an expense ratio of 2.92% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $288 per year of difference.
Which performed better, PHK or VYM?
Over the past year PHK returned +7.54% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), PHK annualized -2.31% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, PHK or VYM?
PHK has been the more volatile fund at 26.4% annualized versus 14.6% for VYM. Worst drawdown: PHK -80.9% vs VYM -58.8%.
Should I hold both PHK and VYM?
PHK and VYM have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHK and VYM?
PHK and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 580 unique securities.
Which pays a higher dividend, PHK or VYM?
PHK yields 12.72% while VYM yields 2.86%, so PHK currently pays the higher dividend yield.
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