SPYI vs VYM
NEOS S&P 500 High Income ETF vs Vanguard High Dividend Yield ETF
Which is better, SPYI or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 38.0%.
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 | SPYI | VYM |
|---|---|---|
| Expense Ratio | 0.68% | 0.04%Best |
| AUM | $11.7B | $81.6B |
| Dividend Yield | 11.81% | 2.22% |
| Holdings | 509 | 613 |
| YTD Return | +1.16% | +12.87%Best |
| 1Y Return | +4.71% | +17.25%Best |
| 3Y Return (annualized) | +12.46% | +17.66%Best |
| 5Y Return (annualized) | - | +11.98% |
| Volatility (annualized) | 10.4%Best | 13.4% |
| Max Drawdown | -16.5% | -14.5%Best |
| $10,000 over 4 years | $15,961 | $17,218Best |
| Top 10 Weight | 38.0% | 26.1%Best |
| Fund Family | NEOS | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Aug 29, 2022 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Aug 30, 2022 to Sep 15, 2026 (4 years).
SPYI 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 4 years both funds cover.
SPYI vs VYM Performance
NEOS S&P 500 High Income ETF (SPYI) is an ETF from NEOS and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPYI returned +4.71% while VYM returned +17.25%. Year to date, SPYI is up 1.16% versus a gain of 12.87% for VYM.
Over three years, SPYI compounded at +12.46% per year against +17.66% for VYM. Across the full 4-year window we track, VYM has the edge at +14.55% annualized vs +12.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 13.4% compared with 10.4% for SPYI. 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 -16.5% for SPYI and -14.5% 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPYI charges 0.68% per year while VYM charges 0.04%. On a $10,000 position that is $68 vs $4 annually, a gap of $64 per year that compounds over a long holding period. On income, SPYI currently yields 11.81% against 2.22% for VYM.
Holdings Overlap
34.1% of SPYI's money is in holdings VYM also owns. 89.5% of VYM's money is in holdings SPYI also owns.
Most of VYM is already inside SPYI. Owning both mostly buys the same companies twice.
246 positions in common, counted across the 494 positions we hold weights for in SPYI and 557 in VYM, against full books of 509 and 613.
What only one of them owns
Our book lists 283 positions for VYM that do not appear in our book for SPYI (7.8% of the fund), and 243 for SPYI that do not appear in VYM (65.6%).
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 SPYI | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 2.66% | 7.35% | 4.69% |
| JPMJpmorgan Chase | 1.45% | 3.82% | 2.37% |
| XOMExxon Mobil Corp. | 1.02% | 2.63% | 1.61% |
| JNJJohnson & Johnson - Common | 0.98% | 2.51% | 1.53% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.68% | 1.86% | 1.18% |
| ABBVAbbvie Inc. | 0.69% | 1.80% | 1.11% |
| BACBank of America Corp.: Financials | 0.62% | 1.66% | 1.04% |
| UNHUnitedhealth Group Incorporated | 0.55% | 1.52% | 0.97% |
| CVXChevron Corp | 0.58% | 1.48% | 0.90% |
| CATCaterpillar, Inc. | 0.56% | 1.50% | 0.94% |
89.5% of VYM is already inside SPYI.
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, SPYI or VYM?
SPYI has an expense ratio of 0.68% while VYM charges 0.04%. VYM is the cheaper option, by $64 a year on a $10,000 investment.
Which performed better, SPYI or VYM?
Over the past year SPYI returned +4.71% vs +17.25% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (4 years), SPYI annualized +12.40% vs +14.55% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPYI or VYM?
VYM has been the more volatile fund at 13.4% annualized versus 10.4% for SPYI. Worst drawdown: SPYI -16.5% vs VYM -14.5%.
Should I hold both SPYI and VYM?
SPYI and VYM have a monthly-return correlation of 0.79, 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 SPYI and VYM?
89.5% of VYM's money is in holdings SPYI also owns. 89.5% of VYM's is in holdings SPYI also owns. They hold 246 positions in common, counted across the 494 positions we hold weights for in SPYI and 557 in VYM.
Which pays a higher dividend, SPYI or VYM?
SPYI yields 11.81% while VYM yields 2.22%, so SPYI currently pays the higher dividend yield.
Is VYM better than SPYI?
VYM has a lower expense ratio. VYM led over 1Y, 3Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.