TMSL vs VYM
T. Rowe Price Small-Mid Cap ETF vs Vanguard High Dividend Yield ETF
Which is better, TMSL or VYM?
Mid Cap Blend against Large Cap Value.
VYM has a lower expense ratio. TMSL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 26.1%.
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 | TMSL | VYM |
|---|---|---|
| Expense Ratio | 0.55% | 0.04%Best |
| AUM | $3.0B | $81.6B |
| Dividend Yield | 0.48% | 2.22% |
| Holdings | 287 | 613 |
| YTD Return | +12.87%Best | +11.71% |
| 1Y Return | +18.95%Best | +16.24% |
| 3Y Return (annualized) | +17.99%Best | +17.24% |
| 5Y Return (annualized) | - | +11.86% |
| Volatility (annualized) | 16.7% | 11.0%Best |
| Max Drawdown | -24.7% | -14.5%Best |
| $10,000 over 3.3 years | $16,562Best | $16,469 |
| Top 10 Weight | 9.6%Best | 26.1% |
| Fund Family | T.Rowe Price | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Value |
| Inception | Jun 14, 2023 | Nov 10, 2006 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Sep 16, 2026 (3.3 years).
TMSL 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 3.3 years both funds cover.
TMSL vs VYM Performance
T. Rowe Price Small-Mid Cap ETF (TMSL) is an ETF from T.Rowe Price and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year TMSL returned +18.95% while VYM returned +16.24%. Year to date, TMSL is up 12.87% versus a gain of 11.71% for VYM.
Over three years, TMSL compounded at +17.99% per year against +17.24% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 11.0% 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 -24.7% for TMSL 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TMSL charges 0.55% per year while VYM charges 0.04%. On a $10,000 position that is $55 vs $4 annually, a gap of $51 per year that compounds over a long holding period. On income, TMSL currently yields 0.48% against 2.22% for VYM.
Holdings Overlap
29.3% of TMSL's money is in holdings VYM also owns. 3.2% of VYM's money is in holdings TMSL also owns.
TMSL and VYM share little of their money.
71 positions in common, counted across the 285 positions we hold weights for in TMSL and 557 in VYM, against full books of 287 and 613.
What only one of them owns
Our book lists 458 positions for VYM that do not appear in our book for TMSL (93.9% of the fund), and 194 for TMSL that do not appear in VYM (63.7%).
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 TMSL | Weight in VYM | Difference |
|---|---|---|---|
| PRPermian Resource | 1.02% | 0.07% | 0.95% |
| EWBCEast West Bancorp, Inc. | 0.89% | 0.07% | 0.82% |
| AXSAxis Capital Holdings Ltd. | 0.91% | 0.03% | 0.88% |
| RSReliance Steel & Aluminum Co. | 0.82% | 0.08% | 0.74% |
| RLRalph Lauren Corp. Class A | 0.73% | 0.06% | 0.67% |
| KEYKeycorp | 0.68% | 0.08% | 0.60% |
| SWKStanley Black Decker Inc. | 0.69% | 0.06% | 0.63% |
| WFRDWeatherford International Plc | 0.70% | 0.03% | 0.67% |
| VOYAVoya Financial Inc | 0.69% | 0.04% | 0.65% |
| LNCLincoln National Corp. | 0.66% | 0.03% | 0.63% |
29.3% of TMSL 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.
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Frequently Asked Questions
Which is cheaper, TMSL or VYM?
TMSL has an expense ratio of 0.55% while VYM charges 0.04%. VYM is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, TMSL or VYM?
Over the past year TMSL returned +18.95% vs +16.24% for VYM, so TMSL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TMSL or VYM?
TMSL has been the more volatile fund at 16.7% annualized versus 11.0% for VYM. Worst drawdown: TMSL -24.7% vs VYM -14.5%.
Should I hold both TMSL and VYM?
TMSL and VYM have a monthly-return correlation of 0.90, 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 TMSL and VYM?
29.3% of TMSL's money is in holdings VYM also owns. 3.2% of VYM's is in holdings TMSL also owns. They hold 71 positions in common, counted across the 285 positions we hold weights for in TMSL and 557 in VYM.
Which pays a higher dividend, TMSL or VYM?
TMSL yields 0.48% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than TMSL?
VYM has a lower expense ratio. TMSL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.90. TMSL is less concentrated, with 9.6% of the fund in its ten largest positions against 26.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.