SPAM vs VYM
Themes Cybersecurity ETF vs Vanguard High Dividend Yield ETF
Which is better, SPAM or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. SPAM led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 49.4%.
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 | SPAM | VYM |
|---|---|---|
| Expense Ratio | 0.35% | 0.04%Best |
| AUM | $5M | $81.6B |
| Dividend Yield | 0.33% | 2.22% |
| Holdings | 45 | 613 |
| YTD Return | +43.29%Best | +13.75% |
| 1Y Return | +29.74%Best | +19.42% |
| 3Y Return (annualized) | - | +18.22% |
| 5Y Return (annualized) | - | +12.17% |
| Volatility (annualized) | 23.3% | 10.1%Best |
| Max Drawdown | -24.0% | -14.5%Best |
| $10,000 over 2.8 years | $17,523Best | $16,448 |
| Top 10 Weight | 49.4% | 25.9%Best |
| Fund Family | Themes ETFs | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Dec 8, 2023 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 8, 2023 to Sep 9, 2026 (2.8 years).
SPAM 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 2.8 years both funds cover.
SPAM vs VYM Performance
Themes Cybersecurity ETF (SPAM) is an ETF from Themes ETFs and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPAM returned +29.74% while VYM returned +19.42%. Year to date, SPAM is up 43.29% versus a gain of 13.75% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPAM has been the more volatile fund, with annualized monthly volatility of 23.3% 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 -24.0% for SPAM 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 0.22. They move largely independently of each other.
Fees and Cost Over Time
SPAM charges 0.35% per year while VYM charges 0.04%. On a $10,000 position that is $35 vs $4 annually, a gap of $31 per year that compounds over a long holding period. On income, SPAM currently yields 0.33% against 2.22% for VYM.
Holdings Overlap
7.5% of SPAM's money is in holdings VYM also owns. 0.1% of VYM's money is in holdings SPAM also owns.
SPAM and VYM share little of their money.
The two holdings books were reported 49 days apart, SPAM as of Aug 18, 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.
2 positions in common, counted across the 37 positions we hold weights for in SPAM and 603 in VYM, against full books of 45 and 613.
What only one of them owns
Our book lists 565 positions for VYM that do not appear in our book for SPAM (97.2% of the fund), and 26 for SPAM that do not appear in VYM (76.3%).
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 SPAM 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, SPAM or VYM?
SPAM has an expense ratio of 0.35% while VYM charges 0.04%. VYM is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, SPAM or VYM?
Over the past year SPAM returned +29.74% vs +19.42% for VYM, so SPAM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPAM or VYM?
SPAM has been the more volatile fund at 23.3% annualized versus 10.1% for VYM. Worst drawdown: SPAM -24.0% vs VYM -14.5%.
Should I hold both SPAM and VYM?
SPAM and VYM have a monthly-return correlation of 0.22, 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 SPAM and VYM?
7.5% of SPAM's money is in holdings VYM also owns. 0.1% of VYM's is in holdings SPAM also owns. They hold 2 positions in common, counted across the 37 positions we hold weights for in SPAM and 603 in VYM.
Which pays a higher dividend, SPAM or VYM?
SPAM yields 0.33% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than SPAM?
VYM has a lower expense ratio. SPAM led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 49.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.