SPLV vs VYM
Invesco S&P 500 Low Volatility 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 616 holdings.
Side-by-Side Comparison
| Metric | SPLV | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.04% | |
| AUM | $7.2B | $81.6B | |
| Dividend Yield | 2.12% | 2.24% | |
| Holdings | 111 | 616 | |
| YTD Return | +6.81% | +14.84% | |
| 1Y Return | +4.69% | +20.88% | |
| 3Y Return (annualized) | +9.01% | +18.34% | |
| 5Y Return (annualized) | +5.42% | +12.04% | |
| Volatility (annualized) | 11.6% | 14.6% | |
| Max Drawdown | -36.6% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | May 5, 2011 | Nov 10, 2006 |
SPLV vs VYM Performance
Invesco S&P 500 Low Volatility ETF (SPLV) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SPLV returned +4.69% while VYM returned +20.88%. Year to date, SPLV is up 6.81% versus a gain of 14.84% for VYM.
Over three years, SPLV compounded at +9.01% per year against +18.34% for VYM; over five years the annualized figures are +5.42% and +12.04% respectively. Across the full 15-year window we track, SPLV has the edge at +8.31% annualized vs +7.01%. 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 11.6% for SPLV. 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 -36.6% for SPLV 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPLV charges 0.25% per year while VYM charges 0.04%. On a $10,000 position that is $25 vs $4 annually, a gap of $21 per year that compounds over a long holding period. On income, SPLV currently yields 2.12% against 2.24% for VYM.
Holdings Overlap
SPLV and VYM share 59 holdings out of 646 unique holdings combined, representing a 20.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPLV or VYM?
SPLV has an expense ratio of 0.25% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $21 per year of difference.
Which performed better, SPLV or VYM?
Over the past year SPLV returned +4.69% vs +20.88% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (15 years), SPLV annualized +8.31% vs +7.01% for VYM. Past performance does not guarantee future results.
Which is riskier, SPLV or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 11.6% for SPLV. Worst drawdown: SPLV -36.6% vs VYM -58.8%.
Should I hold both SPLV and VYM?
SPLV and VYM have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPLV and VYM?
SPLV and VYM share 59 common holdings with a 20.8% weight overlap. Combined, they hold 646 unique securities.
Which pays a higher dividend, SPLV or VYM?
SPLV yields 2.12% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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