SPYM vs VYM
State Street SPDR Portfolio S&P 500 ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
SPYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | SPYM | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.04% | |
| AUM | $171.5B | $81.6B | |
| Dividend Yield | 1.04% | 2.24% | |
| Holdings | 508 | 616 | |
| YTD Return | +12.39% | +15.42% | |
| 1Y Return | +20.23% | +22.36% | |
| 3Y Return (annualized) | +21.78% | +19.06% | |
| 5Y Return (annualized) | +12.85% | +12.20% | |
| Volatility (annualized) | 14.8% | 14.6% | |
| Max Drawdown | -34.3% | -58.8% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 8, 2005 | Nov 10, 2006 |
SPYM vs VYM Performance
State Street SPDR Portfolio S&P 500 ETF (SPYM) is a ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SPYM returned +20.23% while VYM returned +22.36%. Year to date, SPYM is up 12.39% versus a gain of 15.42% for VYM.
Over three years, SPYM compounded at +21.78% per year against +19.06% for VYM; over five years the annualized figures are +12.85% and +12.20% respectively. Across the full 13-year window we track, SPYM has the edge at +12.67% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYM has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 14.6% 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 -34.3% for SPYM 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPYM charges 0.02% per year while VYM charges 0.04%. On a $10,000 position that is $2 vs $4 annually, a gap of $2 per year that compounds over a long holding period. On income, SPYM currently yields 1.04% against 2.24% for VYM.
Holdings Overlap
SPYM and VYM share 244 holdings out of 863 unique holdings combined, representing a 33.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPYM or VYM?
SPYM has an expense ratio of 0.02% while VYM charges 0.04%. SPYM is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SPYM or VYM?
Over the past year SPYM returned +20.23% vs +22.36% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (13 years), SPYM annualized +12.67% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, SPYM or VYM?
SPYM has been the more volatile fund at 14.8% annualized versus 14.6% for VYM. Worst drawdown: SPYM -34.3% vs VYM -58.8%.
Should I hold both SPYM and VYM?
SPYM and VYM have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPYM and VYM?
SPYM and VYM share 244 common holdings with a 33.7% weight overlap. Combined, they hold 863 unique securities.
Which pays a higher dividend, SPYM or VYM?
SPYM yields 1.04% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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