SPVU vs VYM
Invesco S&P 500 Enhanced Value ETF vs Vanguard High Dividend Yield ETF
Which is better, SPVU or VYM?
Each has led over a different period.
VYM has a lower expense ratio. SPVU led over the full window, VYM over 1Y. The two have moved almost in lockstep, correlation 0.93. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 41.4%.
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 | SPVU | VYM |
|---|---|---|
| Expense Ratio | 0.13% | 0.04%Best |
| AUM | $111M | $81.6B |
| Dividend Yield | 2.46% | 2.22% |
| Holdings | 101 | 613 |
| Volatility (annualized) | 20.1% | 14.0%Best |
| Max Drawdown | -51.7% | -35.7%Best |
| $10,000 over 10.4 years | $30,963Best | $27,382 |
| Top 10 Weight | 41.4% | 26.1%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Oct 9, 2015 | Nov 10, 2006 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 210 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SPVU has data through Feb 20, 2026 and VYM through Sep 18, 2026.
Volatility and max drawdown, and the $10,000 over 10.4 years row, are measured over the window both funds cover: Oct 9, 2015 to Feb 20, 2026 (10.4 years).
Risk: Volatility and Drawdowns
SPVU has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 14.0% 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 -51.7% for SPVU 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPVU charges 0.13% per year while VYM charges 0.04%. On a $10,000 position that is $13 vs $4 annually, a gap of $9 per year that compounds over a long holding period. On income, SPVU currently yields 2.46% against 2.22% for VYM.
Holdings Overlap
80.2% of SPVU's money is in holdings VYM also owns. 21.8% of VYM's money is in holdings SPVU also owns.
Most of SPVU is already inside VYM. Owning both mostly buys the same companies twice.
The two holdings books were reported 304 days apart, SPVU as of Sep 30, 2025 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
73 positions in common, counted across the 100 positions we hold weights for in SPVU and 557 in VYM, against full books of 101 and 613.
What only one of them owns
Our book lists 455 positions for VYM that do not appear in our book for SPVU (75.3% of the fund), and 26 for SPVU that do not appear in VYM (19.4%).
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 SPVU | Weight in VYM | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 4.87% | 2.63% | 2.24% |
| UNHUnitedhealth Group Incorporated | 5.59% | 1.52% | 4.07% |
| BACBank of America Corp.: Financials | 5.25% | 1.66% | 3.59% |
| CVXChevron Corp | 3.96% | 1.48% | 2.48% |
| WFCWells Fargo & Co. | 4.10% | 1.07% | 3.03% |
| CCitigroup Inc. | 4.03% | 0.89% | 3.14% |
| VZVerizon Communic | 3.22% | 0.80% | 2.42% |
| CVSCvs Corp | 2.96% | 0.54% | 2.42% |
| CMCSAComcast Corp-class A Cmcsa | 2.64% | 0.34% | 2.30% |
| COPConocophillips Common Stock USD 0.01 | 1.96% | 0.60% | 1.36% |
80.2% of SPVU 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, SPVU or VYM?
SPVU has an expense ratio of 0.13% while VYM charges 0.04%. VYM is the cheaper option, by $9 a year on a $10,000 investment.
Which is riskier, SPVU or VYM?
SPVU has been the more volatile fund at 20.1% annualized versus 14.0% for VYM. Worst drawdown: SPVU -51.7% vs VYM -35.7%.
Should I hold both SPVU and VYM?
SPVU and VYM have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPVU and VYM?
80.2% of SPVU's money is in holdings VYM also owns. 21.8% of VYM's is in holdings SPVU also owns. They hold 73 positions in common, counted across the 100 positions we hold weights for in SPVU and 557 in VYM.
Which pays a higher dividend, SPVU or VYM?
SPVU yields 2.46% while VYM yields 2.22%, so SPVU currently pays the higher dividend yield.
Is VYM better than SPVU?
VYM has a lower expense ratio. SPVU led over the full window, VYM over 1Y. The two have moved almost in lockstep, correlation 0.93. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 41.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.