SMAX vs VYM
iShares Large Cap Max Buffer Sep ETF 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 | SMAX | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.04% | |
| AUM | $88M | $79.0B | |
| Dividend Yield | 0.75% | 2.86% | |
| Holdings | 7 | 568 | |
| YTD Return | +4.65% | +16.78% | |
| 1Y Return | +6.59% | +24.43% | |
| 3Y Return (annualized) | - | +18.60% | |
| 5Y Return (annualized) | - | +12.30% | |
| Volatility (annualized) | 3.2% | 14.6% | |
| Max Drawdown | -3.9% | -58.8% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2024 | Nov 10, 2006 |
SMAX vs VYM Performance
iShares Large Cap Max Buffer Sep ETF (SMAX) is a ETF from iShares by BlackRock (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SMAX returned +6.59% while VYM returned +24.43%. Year to date, SMAX is up 4.65% versus a gain of 16.78% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 3.2% for SMAX. 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 -3.9% for SMAX 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMAX charges 0.50% per year while VYM charges 0.04%. On a $10,000 position that is $50 vs $4 annually, a gap of $46 per year that compounds over a long holding period. On income, SMAX currently yields 0.75% against 2.86% for VYM.
Holdings Overlap
SMAX and VYM share 0 holdings out of 561 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, SMAX or VYM?
SMAX has an expense ratio of 0.50% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, SMAX or VYM?
Over the past year SMAX returned +6.59% vs +24.43% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), SMAX annualized +6.81% vs +7.11% for VYM. Past performance does not guarantee future results.
Which is riskier, SMAX or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 3.2% for SMAX. Worst drawdown: SMAX -3.9% vs VYM -58.8%.
Should I hold both SMAX and VYM?
SMAX and VYM have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMAX and VYM?
SMAX and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, SMAX or VYM?
SMAX yields 0.75% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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