RAYJ vs VYM
Rayliant SMDAM Japan Equity ETF vs Vanguard High Dividend Yield ETF
Which is better, RAYJ or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. RAYJ led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 45.9%.
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 | RAYJ | VYM |
|---|---|---|
| Expense Ratio | 0.72% | 0.04%Best |
| AUM | $24M | $81.6B |
| Dividend Yield | 4.76% | 2.24% |
| Holdings | 34 | 613 |
| Volatility (annualized) | 20.6% | 10.1%Best |
| Max Drawdown | -16.6% | -14.5%Best |
| $10,000 over 2.3 years | $15,479Best | $14,457 |
| Top 10 Weight | 45.9% | 25.9%Best |
| Fund Family | Rayliant Asset Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Apr 4, 2024 | Nov 10, 2006 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 40 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. RAYJ has data through Jul 30, 2026 and VYM through Sep 8, 2026.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Apr 4, 2024 to Jul 30, 2026 (2.3 years).
Risk: Volatility and Drawdowns
RAYJ has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 10.1% 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 -16.6% for RAYJ and -14.5% 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 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
RAYJ charges 0.72% per year while VYM charges 0.04%. On a $10,000 position that is $72 vs $4 annually, a gap of $68 per year that compounds over a long holding period. On income, RAYJ currently yields 4.76% against 2.24% for VYM.
Holdings Overlap
We hold position weights for 32 holdings in RAYJ and 602 in VYM, totalling 99.8% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 61 days apart, RAYJ as of Apr 30, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 32 positions we hold weights for in RAYJ and 602 in VYM, against full books of 34 and 613.
What only one of them owns
Our book lists 569 positions for VYM that do not appear in our book for RAYJ (97.2% of the fund), and 0 for RAYJ that do not appear in VYM (0.0%).
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.
You are not choosing between two funds in isolation.
Whichever of RAYJ and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RAYJ or VYM?
RAYJ has an expense ratio of 0.72% while VYM charges 0.04%. VYM is the cheaper option, by $68 a year on a $10,000 investment.
Which is riskier, RAYJ or VYM?
RAYJ has been the more volatile fund at 20.6% annualized versus 10.1% for VYM. Worst drawdown: RAYJ -16.6% vs VYM -14.5%.
Should I hold both RAYJ and VYM?
RAYJ and VYM have a monthly-return correlation of 0.61, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RAYJ or VYM?
RAYJ yields 4.76% while VYM yields 2.24%, so RAYJ currently pays the higher dividend yield.
Is VYM better than RAYJ?
VYM has a lower expense ratio. RAYJ led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.