SPAQ vs VYM
Horizon Kinetics SPAC Active ETF vs Vanguard High Dividend Yield ETF
Which is better, SPAQ or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y and the full window.
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 | SPAQ | VYM |
|---|---|---|
| Expense Ratio | 0.85% | 0.04%Best |
| AUM | $10M | $81.6B |
| Dividend Yield | 16.14% | 2.22% |
| Holdings | 62 | 613 |
| YTD Return | +3.42% | +13.15%Best |
| 1Y Return | +5.00% | +17.82%Best |
| 3Y Return (annualized) | +6.38% | +17.99%Best |
| 5Y Return (annualized) | - | +12.16% |
| Volatility (annualized) | 2.9%Best | 11.3% |
| Max Drawdown | -5.3%Best | -14.5% |
| $10,000 over 3.6 years | $12,574 | $16,292Best |
| Fund Family | Horizon Kinetics LLC | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 27, 2023 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Jan 30, 2023 to Sep 10, 2026 (3.6 years).
SPAQ 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 3.6 years both funds cover.
SPAQ vs VYM Performance
Horizon Kinetics SPAC Active ETF (SPAQ) is an ETF from Horizon Kinetics LLC and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPAQ returned +5.00% while VYM returned +17.82%. Year to date, SPAQ is up 3.42% versus a gain of 13.15% for VYM.
Over three years, SPAQ compounded at +6.38% per year against +17.99% for VYM. Across the full 4-year window we track, VYM has the edge at +14.52% annualized vs +6.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 11.3% 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 -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 -0.13. They move largely independently of each other.
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 16.14% against 2.22% for VYM.
Holdings Overlap
We hold position weights for 47 holdings in SPAQ and 603 in VYM, totalling 94.3% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 47 positions we hold weights for in SPAQ and 603 in VYM, against full books of 62 and 613.
You are not choosing between two funds in isolation.
Whichever of SPAQ 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, SPAQ or VYM?
SPAQ has an expense ratio of 0.85% while VYM charges 0.04%. VYM is the cheaper option, by $81 a year on a $10,000 investment.
Which performed better, SPAQ or VYM?
Over the past year SPAQ returned +5.00% vs +17.82% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (4 years), SPAQ annualized +6.57% vs +14.52% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPAQ or VYM?
VYM has been the more volatile fund at 11.3% annualized versus 2.9% for SPAQ. Worst drawdown: SPAQ -5.3% vs VYM -14.5%.
Should I hold both SPAQ and VYM?
SPAQ and VYM have a monthly-return correlation of -0.13, 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, SPAQ or VYM?
SPAQ yields 16.14% while VYM yields 2.22%, so SPAQ currently pays the higher dividend yield.
Is VYM better than SPAQ?
VYM has a lower expense ratio. VYM led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.