TVAL vs VYM
T. Rowe Price Value ETF vs Vanguard High Dividend Yield ETF
Which is better, TVAL or VYM?
TVAL has been ahead.
VYM has a lower expense ratio. TVAL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 29.1%.
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 | TVAL | VYM |
|---|---|---|
| Expense Ratio | 0.33% | 0.04%Best |
| AUM | $1.0B | $81.6B |
| Dividend Yield | 0.95% | 2.22% |
| Holdings | 155 | 613 |
| YTD Return | +20.32%Best | +12.87% |
| 1Y Return | +28.25%Best | +17.25% |
| 3Y Return (annualized) | +19.46%Best | +17.66% |
| 5Y Return (annualized) | - | +11.98% |
| Volatility (annualized) | 12.3% | 10.9%Best |
| Max Drawdown | -15.8% | -14.5%Best |
| $10,000 over 3.3 years | $17,388Best | $16,652 |
| Top 10 Weight | 29.1% | 26.1%Best |
| Fund Family | T.Rowe Price | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | 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 15, 2026 (3.3 years).
TVAL 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.
TVAL vs VYM Performance
T. Rowe Price Value ETF (TVAL) is an ETF from T.Rowe Price and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year TVAL returned +28.25% while VYM returned +17.25%. Year to date, TVAL is up 20.32% versus a gain of 12.87% for VYM.
Over three years, TVAL compounded at +19.46% per year against +17.66% for VYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TVAL has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 10.9% 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 -15.8% for TVAL 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TVAL charges 0.33% per year while VYM charges 0.04%. On a $10,000 position that is $33 vs $4 annually, a gap of $29 per year that compounds over a long holding period. On income, TVAL currently yields 0.95% against 2.22% for VYM.
Holdings Overlap
51.9% of TVAL's money is in holdings VYM also owns. 48.7% of VYM's money is in holdings TVAL also owns.
The two portfolios partly overlap.
76 positions in common, counted across the 151 positions we hold weights for in TVAL and 557 in VYM, against full books of 155 and 613.
What only one of them owns
Our book lists 452 positions for VYM that do not appear in our book for TVAL (48.4% of the fund), and 66 for TVAL that do not appear in VYM (43.0%).
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 TVAL | Weight in VYM | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 1.64% | 3.82% | 2.18% |
| XOMExxon Mobil Corp. | 1.96% | 2.63% | 0.67% |
| JNJJohnson & Johnson - Common | 1.84% | 2.51% | 0.67% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.40% | 1.86% | 0.46% |
| BACBank of America Corp.: Financials | 1.41% | 1.66% | 0.25% |
| PGProcter & Gamble Company | 1.57% | 1.37% | 0.20% |
| UNHUnitedhealth Group Incorporated | 1.30% | 1.52% | 0.22% |
| PMPhilip Morris International Inc. | 1.33% | 1.21% | 0.12% |
| COPConocophillips Common Stock USD 0.01 | 1.83% | 0.60% | 1.23% |
| MRKMerck & Company Inc | 1.12% | 1.31% | 0.19% |
51.9% of TVAL 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, TVAL or VYM?
TVAL has an expense ratio of 0.33% while VYM charges 0.04%. VYM is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, TVAL or VYM?
Over the past year TVAL returned +28.25% vs +17.25% for VYM, so TVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TVAL or VYM?
TVAL has been the more volatile fund at 12.3% annualized versus 10.9% for VYM. Worst drawdown: TVAL -15.8% vs VYM -14.5%.
Should I hold both TVAL and VYM?
TVAL and VYM have a monthly-return correlation of 0.94, 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 TVAL and VYM?
51.9% of TVAL's money is in holdings VYM also owns. 48.7% of VYM's is in holdings TVAL also owns. They hold 76 positions in common, counted across the 151 positions we hold weights for in TVAL and 557 in VYM.
Which pays a higher dividend, TVAL or VYM?
TVAL yields 0.95% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than TVAL?
VYM has a lower expense ratio. TVAL led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 29.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.