TCV vs VYM
Towle Value ETF vs Vanguard High Dividend Yield ETF
Which is better, TCV or VYM?
TCV has been ahead.
VYM has a lower expense ratio. TCV led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 29.7%.
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 | TCV | VYM |
|---|---|---|
| Expense Ratio | 0.85% | 0.04%Best |
| AUM | $206M | $81.6B |
| Dividend Yield | 0.57% | 2.24% |
| Holdings | 50 | 613 |
| YTD Return | +27.94%Best | +14.82% |
| 1Y Return | +31.09%Best | +20.84% |
| 3Y Return (annualized) | - | +18.64% |
| 5Y Return (annualized) | - | +12.28% |
| Volatility (annualized) | 15.3% | 8.9%Best |
| Max Drawdown | -12.2% | -6.7%Best |
| $10,000 over 1.1 years | $13,368Best | $12,386 |
| Top 10 Weight | 29.7% | 25.9%Best |
| Fund Family | Towle | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jul 16, 2025 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Jul 17, 2025 to Sep 4, 2026 (1.1 years).
TCV 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 1.1 years both funds cover.
TCV vs VYM Performance
Towle Value ETF (TCV) is an ETF from Towle and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year TCV returned +31.09% while VYM returned +20.84%. Year to date, TCV is up 27.94% versus a gain of 14.82% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TCV has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.9% 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 -12.2% for TCV and -6.7% 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
TCV charges 0.85% per year while VYM charges 0.04%. On a $10,000 position that is $85 vs $4 annually, a gap of $81 per year that compounds over a long holding period. On income, TCV currently yields 0.57% against 2.24% for VYM.
Holdings Overlap
26.2% of TCV's money is in holdings VYM also owns. 0.3% of VYM's money is in holdings TCV also owns.
TCV and VYM share little of their money.
The two holdings books were reported 49 days apart, TCV as of Aug 18, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
14 positions in common, counted across the 51 positions we hold weights for in TCV and 603 in VYM, against full books of 50 and 613.
What only one of them owns
Our book lists 556 positions for VYM that do not appear in our book for TCV (97.1% of the fund), and 35 for TCV that do not appear in VYM (69.7%).
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 TCV | Weight in VYM | Difference |
|---|---|---|---|
| HOGHarley-Davidson | 2.66% | 0.01% | 2.65% |
| BWABorgWarner Inc | 2.52% | 0.06% | 2.46% |
| NSPInsperity Inc | 2.56% | 0.01% | 2.55% |
| APAMArtisan Partners Asset Management, Inc. | 2.45% | 0.01% | 2.44% |
| LEALear Corp. | 2.28% | 0.03% | 2.25% |
| NOVNov Inc Common Stock | 2.20% | 0.03% | 2.17% |
| PBFPbf Energy Inc | 2.17% | 0.02% | 2.15% |
| BGBunge Global Sa Common Shares | 1.92% | 0.06% | 1.86% |
| TGNATrinet Group Inc | 1.48% | 0.01% | 1.47% |
| MANManpowergroup Inc | 1.46% | 0.01% | 1.45% |
26.2% of TCV 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, TCV or VYM?
TCV has an expense ratio of 0.85% while VYM charges 0.04%. VYM is the cheaper option, by $81 a year on a $10,000 investment.
Which performed better, TCV or VYM?
Over the past year TCV returned +31.09% vs +20.84% for VYM, so TCV leads on 1-year performance. Over the longest common window we track (1 years), TCV annualized +30.20% vs +21.47% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCV or VYM?
TCV has been the more volatile fund at 15.3% annualized versus 8.9% for VYM. Worst drawdown: TCV -12.2% vs VYM -6.7%.
Should I hold both TCV and VYM?
TCV 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 TCV and VYM?
26.2% of TCV's money is in holdings VYM also owns. 0.3% of VYM's is in holdings TCV also owns. They hold 14 positions in common, counted across the 51 positions we hold weights for in TCV and 603 in VYM.
Which pays a higher dividend, TCV or VYM?
TCV yields 0.57% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
Is VYM better than TCV?
VYM has a lower expense ratio. TCV led over 1Y and the full window. VYM is less concentrated, with 25.9% of the fund in its ten largest positions against 29.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.