PIPE vs VYM
Invesco SteelPath MLP & Energy Infrastructure ETF vs Vanguard High Dividend Yield ETF
Which is better, PIPE or VYM?
Mid Cap Value against Large Cap Value.
VYM has a lower expense ratio. PIPE led over 1Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 55.0%.
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 | PIPE | VYM |
|---|---|---|
| Expense Ratio | 0.75% | 0.04%Best |
| AUM | $68M | $81.6B |
| Dividend Yield | 3.67% | 2.22% |
| Holdings | 29 | 613 |
| YTD Return | +24.86%Best | +11.35% |
| 1Y Return | +25.79%Best | +15.34% |
| 3Y Return (annualized) | - | +17.22% |
| 5Y Return (annualized) | - | +12.30% |
| Volatility (annualized) | 14.3% | 10.3%Best |
| Max Drawdown | -15.7% | -14.2%Best |
| $10,000 over 1.6 years | $12,619Best | $12,329 |
| Top 10 Weight | 55.0% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | Feb 20, 2025 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 20, 2025 to Sep 18, 2026 (1.6 years).
PIPE 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 1.6 years both funds cover.
PIPE vs VYM Performance
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is an ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year PIPE returned +25.79% while VYM returned +15.34%. Year to date, PIPE is up 24.86% versus a gain of 11.35% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIPE has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 10.3% 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 -15.7% for PIPE and -14.2% 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 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PIPE charges 0.75% per year while VYM charges 0.04%. On a $10,000 position that is $75 vs $4 annually, a gap of $71 per year that compounds over a long holding period. On income, PIPE currently yields 3.67% against 2.22% for VYM.
Holdings Overlap
31.1% of PIPE's money is in holdings VYM also owns. 1.2% of VYM's money is in holdings PIPE also owns.
The two portfolios partly overlap.
7 positions in common, counted across the 26 positions we hold weights for in PIPE and 557 in VYM, against full books of 29 and 613.
What only one of them owns
Our book lists 521 positions for VYM that do not appear in our book for PIPE (95.9% of the fund), and 13 for PIPE that do not appear in VYM (48.0%).
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 PIPE | Weight in VYM | Difference |
|---|---|---|---|
| TRGPTarga Resources Corp Preferred | 8.39% | 0.23% | 8.16% |
| WMBWilliams Cos. Inc. | 6.25% | 0.35% | 5.90% |
| OKEOneok Inc. | 5.00% | 0.23% | 4.77% |
| KMIKinder Morgan Inc./de | 4.35% | 0.25% | 4.10% |
| AMAntero Midstream Corporationam | 3.19% | 0.03% | 3.16% |
| DTMDT Midstream Inc | 2.06% | 0.06% | 2.00% |
| AROCArchrock, Inc. | 1.81% | 0.02% | 1.79% |
31.1% of PIPE is already inside VYM.
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, PIPE or VYM?
PIPE has an expense ratio of 0.75% while VYM charges 0.04%. VYM is the cheaper option, by $71 a year on a $10,000 investment.
Which performed better, PIPE or VYM?
Over the past year PIPE returned +25.79% vs +15.34% for VYM, so PIPE leads on 1-year performance. Over the longest common window we track (2 years), PIPE annualized +15.65% vs +13.98% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PIPE or VYM?
PIPE has been the more volatile fund at 14.3% annualized versus 10.3% for VYM. Worst drawdown: PIPE -15.7% vs VYM -14.2%.
Should I hold both PIPE and VYM?
PIPE and VYM have a monthly-return correlation of 0.48, 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 PIPE and VYM?
31.1% of PIPE's money is in holdings VYM also owns. 1.2% of VYM's is in holdings PIPE also owns. They hold 7 positions in common, counted across the 26 positions we hold weights for in PIPE and 557 in VYM.
Which pays a higher dividend, PIPE or VYM?
PIPE yields 3.67% while VYM yields 2.22%, so PIPE currently pays the higher dividend yield.
Is VYM better than PIPE?
VYM has a lower expense ratio. PIPE led over 1Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 55.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.