PML vs VYM
PIMCO Municipal Income Fund II 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 | PML | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 4.81% | 0.04% | |
| AUM | $1.0B | $79.0B | |
| Dividend Yield | 5.83% | 2.86% | |
| Holdings | 364 | 568 | |
| YTD Return | +1.92% | +16.16% | |
| 1Y Return | +9.81% | +26.05% | |
| 3Y Return (annualized) | -0.48% | +18.43% | |
| 5Y Return (annualized) | -8.01% | +12.21% | |
| Volatility (annualized) | 15.5% | 14.6% | |
| Max Drawdown | -67.4% | -58.8% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jun 28, 2002 | Nov 10, 2006 |
PML vs VYM Performance
PIMCO Municipal Income Fund II (PML) is a ETF from PIMCO (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PML returned +9.81% while VYM returned +26.05%. Year to date, PML is up 1.92% versus a gain of 16.16% for VYM.
Over three years, PML compounded at -0.48% per year against +18.43% for VYM; over five years the annualized figures are -8.01% and +12.21% respectively. Across the full 20-year window we track, VYM has the edge at +7.09% annualized vs -1.60%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PML has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -67.4% for PML 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 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PML charges 4.81% per year while VYM charges 0.04%. On a $10,000 position that is $481 vs $4 annually, a gap of $477 per year that compounds over a long holding period. On income, PML currently yields 5.83% against 2.86% for VYM.
Holdings Overlap
PML and VYM share 0 holdings out of 706 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, PML or VYM?
PML has an expense ratio of 4.81% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $477 per year of difference.
Which performed better, PML or VYM?
Over the past year PML returned +9.81% vs +26.05% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), PML annualized -1.60% vs +7.09% for VYM. Past performance does not guarantee future results.
Which is riskier, PML or VYM?
PML has been the more volatile fund at 15.5% annualized versus 14.6% for VYM. Worst drawdown: PML -67.4% vs VYM -58.8%.
Should I hold both PML and VYM?
PML and VYM have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PML and VYM?
PML and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 706 unique securities.
Which pays a higher dividend, PML or VYM?
PML yields 5.83% while VYM yields 2.86%, so PML currently pays the higher dividend yield.
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