SPAQ vs VYM
Horizon Kinetics SPAC Active 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 | SPAQ | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.04% | |
| AUM | $10M | $79.0B | |
| Dividend Yield | 16.12% | 2.86% | |
| Holdings | 51 | 568 | |
| YTD Return | +3.80% | +16.78% | |
| 1Y Return | +5.41% | +24.43% | |
| 3Y Return (annualized) | +6.87% | +18.60% | |
| 5Y Return (annualized) | - | +12.30% | |
| Volatility (annualized) | 2.9% | 14.6% | |
| Max Drawdown | -5.3% | -58.8% | |
| Fund Family | Horizon Kinetics LLC | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 27, 2023 | Nov 10, 2006 |
SPAQ vs VYM Performance
Horizon Kinetics SPAC Active ETF (SPAQ) is a ETF from Horizon Kinetics LLC and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SPAQ returned +5.41% while VYM returned +24.43%. Year to date, SPAQ is up 3.80% versus a gain of 16.78% for VYM.
Over three years, SPAQ compounded at +6.87% per year against +18.60% for VYM. Across the full 4-year window we track, VYM has the edge at +7.11% annualized vs +6.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 2.9% for SPAQ. 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 -5.3% for SPAQ 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 -0.15. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPAQ charges 0.85% per year while VYM charges 0.04%. On a $10,000 position that is $85 vs $4 annually, a gap of $81 per year that compounds over a long holding period. On income, SPAQ currently yields 16.12% against 2.86% for VYM.
Holdings Overlap
SPAQ and VYM share 0 holdings out of 601 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, SPAQ or VYM?
SPAQ has an expense ratio of 0.85% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, SPAQ or VYM?
Over the past year SPAQ returned +5.41% vs +24.43% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (4 years), SPAQ annualized +6.83% vs +7.11% for VYM. Past performance does not guarantee future results.
Which is riskier, SPAQ or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 2.9% for SPAQ. Worst drawdown: SPAQ -5.3% vs VYM -58.8%.
Should I hold both SPAQ and VYM?
SPAQ and VYM have a monthly-return correlation of -0.15, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPAQ and VYM?
SPAQ and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 601 unique securities.
Which pays a higher dividend, SPAQ or VYM?
SPAQ yields 16.12% while VYM yields 2.86%, so SPAQ currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.