SPSM vs VYM
State Street SPDR Portfolio S&P 600 Small Cap ETF vs Vanguard High Dividend Yield ETF
Which is better, SPSM or VYM?
Small Cap Blend against Large Cap Value.
SPSM has a lower expense ratio. SPSM led over 1Y, VYM over 3Y, 5Y and the full window. SPSM is less concentrated, with 5.1% 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 | SPSM | VYM |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.04% |
| AUM | $16.7B | $81.6B |
| Dividend Yield | 1.40% | 2.22% |
| Holdings | 611 | 613 |
| YTD Return | +17.77%Best | +13.91% |
| 1Y Return | +20.11%Best | +17.57% |
| 3Y Return (annualized) | +15.11% | +18.12%Best |
| 5Y Return (annualized) | +6.90% | +12.17%Best |
| Volatility (annualized) | 19.4% | 13.4%Best |
| Max Drawdown | -44.4% | -35.7%Best |
| $10,000 over 5 years | $13,960 | $17,758Best |
| Top 10 Weight | 5.1%Best | 25.9% |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Value |
| Inception | Jul 8, 2013 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jul 9, 2013 to Sep 11, 2026 (13.2 years).
SPSM 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 13.2 years both funds cover.
SPSM vs VYM Performance
State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) 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 SPSM returned +20.11% while VYM returned +17.57%. Year to date, SPSM is up 17.77% versus a gain of 13.91% for VYM.
Over three years, SPSM compounded at +15.11% per year against +18.12% for VYM; over five years the annualized figures are +6.90% and +12.17% respectively. Across the full 13-year window we track, VYM has the edge at +9.48% annualized vs +8.70%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPSM has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 13.4% 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 -44.4% for SPSM and -35.7% 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPSM 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, SPSM currently yields 1.40% against 2.22% for VYM.
Holdings Overlap
26.8% of SPSM's money is in holdings VYM also owns. 2.0% of VYM's money is in holdings SPSM also owns.
SPSM and VYM share little of their money.
151 positions in common, counted across the 605 positions we hold weights for in SPSM and 603 in VYM, against full books of 611 and 613.
What only one of them owns
Our book lists 428 positions for VYM that do not appear in our book for SPSM (95.5% of the fund), and 442 for SPSM that do not appear in VYM (71.3%).
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 SPSM | Weight in VYM | Difference |
|---|---|---|---|
| JXNJackson Financial Inc USD | 0.50% | 0.03% | 0.47% |
| EMNEastman Chemical Co. | 0.45% | 0.03% | 0.42% |
| LNCLincoln National Corp. | 0.43% | 0.03% | 0.40% |
| CAGConagra Brands Inc. | 0.39% | 0.03% | 0.36% |
| SMSm Energy Co | 0.38% | 0.03% | 0.35% |
| LWLamb Weston Holdings Inc | 0.39% | 0.02% | 0.37% |
| POOLPool Corp. | 0.35% | 0.03% | 0.32% |
| LKQLkq Corp. | 0.34% | 0.03% | 0.31% |
| AROCArchrock, Inc. | 0.34% | 0.03% | 0.31% |
| AUBAtlantic Union Bankshares Corp Common Stock USD 1.33 | 0.34% | 0.02% | 0.32% |
26.8% of SPSM 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, SPSM or VYM?
SPSM has an expense ratio of 0.03% while VYM charges 0.04%. SPSM is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, SPSM or VYM?
Over the past year SPSM returned +20.11% vs +17.57% for VYM, so SPSM leads on 1-year performance. Over the longest common window we track (13 years), SPSM annualized +8.70% vs +9.48% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPSM or VYM?
SPSM has been the more volatile fund at 19.4% annualized versus 13.4% for VYM. Worst drawdown: SPSM -44.4% vs VYM -35.7%.
Should I hold both SPSM and VYM?
SPSM and VYM have a monthly-return correlation of 0.85, 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 SPSM and VYM?
26.8% of SPSM's money is in holdings VYM also owns. 2.0% of VYM's is in holdings SPSM also owns. They hold 151 positions in common, counted across the 605 positions we hold weights for in SPSM and 603 in VYM.
Which pays a higher dividend, SPSM or VYM?
SPSM yields 1.40% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than SPSM?
SPSM has a lower expense ratio. SPSM led over 1Y, VYM over 3Y, 5Y and the full window. SPSM is less concentrated, with 5.1% 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.