PIPE vs VYM
Invesco SteelPath MLP & Energy Infrastructure ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. PIPE delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | PIPE | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.04% | |
| AUM | $66M | $81.6B | |
| Dividend Yield | 3.73% | 2.24% | |
| Holdings | 29 | 616 | |
| YTD Return | +26.39% | +14.84% | |
| 1Y Return | +28.11% | +20.88% | |
| 3Y Return (annualized) | - | +18.34% | |
| 5Y Return (annualized) | - | +12.04% | |
| Volatility (annualized) | 14.3% | 14.6% | |
| Max Drawdown | -15.7% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 20, 2025 | Nov 10, 2006 |
PIPE vs VYM Performance
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PIPE returned +28.11% while VYM returned +20.88%. Year to date, PIPE is up 26.39% versus a gain of 14.84% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 14.3% for PIPE. 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 -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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
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 3.73% against 2.24% for VYM.
Holdings Overlap
PIPE and VYM share 7 holdings out of 622 unique holdings combined, representing a 1.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $71 per year of difference.
Which performed better, PIPE or VYM?
Over the past year PIPE returned +28.11% vs +20.88% for VYM, so PIPE leads on 1-year performance. Over the longest common window we track (2 years), PIPE annualized +17.23% vs +7.01% for VYM. Past performance does not guarantee future results.
Which is riskier, PIPE or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 14.3% for PIPE. Worst drawdown: PIPE -15.7% vs VYM -58.8%.
Should I hold both PIPE and VYM?
PIPE and VYM have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIPE and VYM?
PIPE and VYM share 7 common holdings with a 1.2% weight overlap. Combined, they hold 622 unique securities.
Which pays a higher dividend, PIPE or VYM?
PIPE yields 3.73% while VYM yields 2.24%, so PIPE currently pays the higher dividend yield.
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