SPMD vs VYM
State Street SPDR Portfolio S&P 400 Mid Cap ETF vs Vanguard High Dividend Yield ETF
Which is better, SPMD or VYM?
Mid Cap Blend against Large Cap Value.
SPMD has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. SPMD is less concentrated, with 7.4% 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 | SPMD | VYM |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.04% |
| AUM | $18.4B | $81.6B |
| Dividend Yield | 1.23% | 2.22% |
| Holdings | 404 | 613 |
| YTD Return | +11.85% | +13.91%Best |
| 1Y Return | +13.44% | +17.57%Best |
| 3Y Return (annualized) | +14.49% | +18.12%Best |
| 5Y Return (annualized) | +8.12% | +12.17%Best |
| Volatility (annualized) | 18.9% | 14.5%Best |
| Max Drawdown | -60.5% | -58.8%Best |
| $10,000 over 5 years | $14,775 | $17,758Best |
| Top 10 Weight | 7.4%Best | 25.9% |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Value |
| Inception | Nov 8, 2005 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Sep 11, 2026 (19.8 years).
SPMD 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 19.8 years both funds cover.
SPMD vs VYM Performance
State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is an ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPMD returned +13.44% while VYM returned +17.57%. Year to date, SPMD is up 11.85% versus a gain of 13.91% for VYM.
Over three years, SPMD compounded at +14.49% per year against +18.12% for VYM; over five years the annualized figures are +8.12% and +12.17% respectively. Across the full 20-year window we track, VYM has the edge at +6.95% annualized vs +6.87%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPMD has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 14.5% 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 -60.5% for SPMD 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPMD charges 0.03% per year while VYM charges 0.04%. On a $10,000 position that is $3 vs $4 annually, a gap of $1 per year that compounds over a long holding period. On income, SPMD currently yields 1.23% against 2.22% for VYM.
Holdings Overlap
30.1% of SPMD's money is in holdings VYM also owns. 4.4% of VYM's money is in holdings SPMD also owns.
The two portfolios partly overlap.
144 positions in common, counted across the 400 positions we hold weights for in SPMD and 603 in VYM, against full books of 404 and 613.
What only one of them owns
Our book lists 426 positions for VYM that do not appear in our book for SPMD (93.2% of the fund), and 248 for SPMD that do not appear in VYM (66.5%).
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 SPMD | Weight in VYM | Difference |
|---|---|---|---|
| RSReliance Steel & Aluminum Co. | 0.58% | 0.08% | 0.50% |
| EWBCEast West Bancorp, Inc. | 0.50% | 0.07% | 0.43% |
| OVVOvintiv Inc. | 0.46% | 0.06% | 0.40% |
| PNFPPinnacle Financial Partners In Common Stock Usd1.0 | 0.45% | 0.06% | 0.39% |
| PRPermian Resources Corp | 0.44% | 0.06% | 0.38% |
| RGAReinsurance Group Of America Inc | 0.42% | 0.06% | 0.36% |
| RPMRpm International Inc | 0.40% | 0.06% | 0.34% |
| DTMDt Midstream Inc | 0.37% | 0.06% | 0.31% |
| UNMUnum Group | 0.37% | 0.06% | 0.31% |
| EQHEquitable Holdings Inc. | 0.37% | 0.05% | 0.32% |
30.1% of SPMD is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPMD or VYM?
SPMD has an expense ratio of 0.03% while VYM charges 0.04%. SPMD is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, SPMD or VYM?
Over the past year SPMD returned +13.44% vs +17.57% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), SPMD annualized +6.87% vs +6.95% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPMD or VYM?
SPMD has been the more volatile fund at 18.9% annualized versus 14.5% for VYM. Worst drawdown: SPMD -60.5% vs VYM -58.8%.
Should I hold both SPMD and VYM?
SPMD and VYM have a monthly-return correlation of 0.88, 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 SPMD and VYM?
30.1% of SPMD's money is in holdings VYM also owns. 4.4% of VYM's is in holdings SPMD also owns. They hold 144 positions in common, counted across the 400 positions we hold weights for in SPMD and 603 in VYM.
Which pays a higher dividend, SPMD or VYM?
SPMD yields 1.23% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than SPMD?
SPMD has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. SPMD is less concentrated, with 7.4% 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.