SPEM vs VYM
State Street SPDR Portfolio Emerging Markets ETF vs Vanguard High Dividend Yield ETF
Which is better, SPEM or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. SPEM led over 1Y, VYM over 3Y, 5Y and the full window. SPEM is less concentrated, with 24.2% of the fund in its ten largest positions against 25.9%.
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 | SPEM | VYM |
|---|---|---|
| Expense Ratio | 0.07% | 0.04%Best |
| AUM | $17.9B | $81.6B |
| Dividend Yield | 2.54% | 2.24% |
| Holdings | 3,044 | 613 |
| YTD Return | +12.88% | +14.82%Best |
| 1Y Return | +23.86%Best | +20.84% |
| 3Y Return (annualized) | +18.36% | +18.64%Best |
| 5Y Return (annualized) | +6.47% | +12.28%Best |
| Volatility (annualized) | 20.1% | 14.7%Best |
| Max Drawdown | -65.1% | -58.8%Best |
| $10,000 over 5 years | $13,682 | $17,845Best |
| Top 10 Weight | 24.2%Best | 25.9% |
| Fund Family | SPDR State Street Global Advisors | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Mar 19, 2007 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Mar 23, 2007 to Sep 4, 2026 (19.5 years).
SPEM 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 19.5 years both funds cover.
SPEM vs VYM Performance
State Street SPDR Portfolio Emerging Markets ETF (SPEM) is an ETF from SPDR State Street Global Advisors and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPEM returned +23.86% while VYM returned +20.84%. Year to date, SPEM is up 12.88% versus a gain of 14.82% for VYM.
Over three years, SPEM compounded at +18.36% per year against +18.64% for VYM; over five years the annualized figures are +6.47% and +12.28% respectively. Across the full 20-year window we track, VYM has the edge at +6.96% annualized vs +4.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPEM has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 14.7% 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 -65.1% for SPEM and -58.8% 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPEM charges 0.07% per year while VYM charges 0.04%. On a $10,000 position that is $7 vs $4 annually, a gap of $3 per year that compounds over a long holding period. On income, SPEM currently yields 2.54% against 2.24% for VYM.
Holdings Overlap
0.4% of SPEM's money is in holdings VYM also owns. 3.9% of VYM's money is in holdings SPEM also owns.
VYM and SPEM share little of their money.
The two holdings books were reported 91 days apart, SPEM as of Mar 31, 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.
8 positions in common, counted across the 2,856 positions we hold weights for in SPEM and 603 in VYM, against full books of 3,044 and 613.
What only one of them owns
Our book lists 562 positions for VYM that do not appear in our book for SPEM (93.6% of the fund), and 39 for SPEM that do not appear in VYM (2.5%).
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.
Top Shared Holdings
| Stock | Weight in SPEM | Weight in VYM | Difference |
|---|---|---|---|
| UNHUnitedhealth Group Incorporated | 0.00% | 1.56% | 1.56% |
| PGProcter & Gamble Company | 0.00% | 1.42% | 1.42% |
| UNPUnion Pacific Corp | 0.00% | 0.67% | 0.67% |
| BAPCredicorp Ltd - Common | 0.24% | 0.11% | 0.13% |
| SCCOSouthern Copper Corp | 0.15% | 0.07% | 0.08% |
| PAGSPagseguro Digital Ltd. Class A Common Shares | 0.02% | 0.01% | 0.01% |
| NEWNorthwestern Ene | 0.00% | 0.02% | 0.02% |
| SBLK:MHStar Bulk Carriers Corp. Common Shares | 0.01% | 0.01% | 0.00% |
You are not choosing between two funds in isolation.
Whichever of SPEM 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, SPEM or VYM?
SPEM has an expense ratio of 0.07% while VYM charges 0.04%. VYM is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SPEM or VYM?
Over the past year SPEM returned +23.86% vs +20.84% for VYM, so SPEM leads on 1-year performance. Over the longest common window we track (20 years), SPEM annualized +4.01% vs +6.96% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPEM or VYM?
SPEM has been the more volatile fund at 20.1% annualized versus 14.7% for VYM. Worst drawdown: SPEM -65.1% vs VYM -58.8%.
Should I hold both SPEM and VYM?
SPEM and VYM have a monthly-return correlation of 0.70, 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 SPEM and VYM?
3.9% of VYM's money is in holdings SPEM also owns. 3.9% of VYM's is in holdings SPEM also owns. They hold 8 positions in common, counted across the 2,856 positions we hold weights for in SPEM and 603 in VYM.
Which pays a higher dividend, SPEM or VYM?
SPEM yields 2.54% while VYM yields 2.24%, so SPEM currently pays the higher dividend yield.
Is VYM better than SPEM?
VYM has a lower expense ratio. SPEM led over 1Y, VYM over 3Y, 5Y and the full window. SPEM is less concentrated, with 24.2% of the fund in its ten largest positions against 25.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.