TBLL vs VYM
Invesco Short Term Treasury ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 613 holdings.
Side-by-Side Comparison
| Metric | TBLL | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.08% | 0.04% | |
| AUM | $2.8B | $81.6B | |
| Dividend Yield | 3.69% | 2.24% | |
| Holdings | 92 | 613 | |
| YTD Return | +2.01% | +14.57% | |
| 1Y Return | +3.43% | +21.08% | |
| 3Y Return (annualized) | +4.42% | +18.16% | |
| 5Y Return (annualized) | +3.48% | +12.00% | |
| Volatility (annualized) | 0.8% | 14.6% | |
| Max Drawdown | -1.0% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jan 10, 2017 | Nov 10, 2006 |
TBLL vs VYM Performance
Invesco Short Term Treasury ETF (TBLL) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year TBLL returned +3.43% while VYM returned +21.08%. Year to date, TBLL is up 2.01% versus a gain of 14.57% for VYM.
Over three years, TBLL compounded at +4.42% per year against +18.16% for VYM; over five years the annualized figures are +3.48% and +12.00% respectively. Across the full 10-year window we track, VYM has the edge at +6.99% annualized vs +1.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 0.8% for TBLL. 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 -1.0% for TBLL 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TBLL charges 0.08% per year while VYM charges 0.04%. On a $10,000 position that is $8 vs $4 annually, a gap of $4 per year that compounds over a long holding period. On income, TBLL currently yields 3.69% against 2.24% for VYM.
Holdings Overlap
TBLL and VYM share 0 holdings out of 651 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, TBLL or VYM?
TBLL has an expense ratio of 0.08% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, TBLL or VYM?
Over the past year TBLL returned +3.43% vs +21.08% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (10 years), TBLL annualized +1.82% vs +6.99% for VYM. Past performance does not guarantee future results.
Which is riskier, TBLL or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 0.8% for TBLL. Worst drawdown: TBLL -1.0% vs VYM -58.8%.
Should I hold both TBLL and VYM?
TBLL and VYM have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TBLL and VYM?
TBLL and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 651 unique securities.
Which pays a higher dividend, TBLL or VYM?
TBLL yields 3.69% while VYM yields 2.24%, so TBLL currently pays the higher dividend yield.
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