VSMV vs VYM
VictoryShares US Multi-Factor Minimum Volatility ETF vs Vanguard High Dividend Yield ETF
Which is better, VSMV or VYM?
Each has led over a different period.
VYM has a lower expense ratio. VSMV led over the full window, VYM over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.91. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 46.4%.
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 | VSMV | VYM |
|---|---|---|
| Expense Ratio | 0.35% | 0.04%Best |
| AUM | $155M | $83.1B |
| Dividend Yield | 1.32% | 2.22% |
| Holdings | 63 | 608 |
| YTD Return | +9.24% | +10.00%Best |
| 1Y Return | +13.08% | +13.75%Best |
| 3Y Return (annualized) | +17.36% | +18.81%Best |
| 5Y Return (annualized) | +11.38% | +11.63%Best |
| Volatility (annualized) | 13.0%Best | 14.8% |
| Max Drawdown | -31.4%Best | -35.7% |
| $10,000 over 5 years | $17,141 | $17,334Best |
| Top 10 Weight | 46.4% | 26.1%Best |
| Fund Family | Victory Capital Management Inc. | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jun 21, 2017 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2017 to Oct 2, 2026 (9.3 years).
VSMV 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 9.3 years both funds cover.
VSMV vs VYM Performance
VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) is an ETF from Victory Capital Management Inc. and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year VSMV returned +13.08% while VYM returned +13.75%. Year to date, VSMV is up 9.24% versus a gain of 10.00% for VYM.
Over three years, VSMV compounded at +17.36% per year against +18.81% for VYM; over five years the annualized figures are +11.38% and +11.63% respectively. Across the full 9-year window we track, VSMV has the edge at +10.98% annualized vs +9.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 13.0% for VSMV. 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 -31.4% for VSMV and -35.7% 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VSMV charges 0.35% per year while VYM charges 0.04%. On a $10,000 position that is $35 vs $4 annually, a gap of $31 per year that compounds over a long holding period. On income, VSMV currently yields 1.32% against 2.22% for VYM.
Holdings Overlap
51.8% of VSMV's money is in holdings VYM also owns. 16.8% of VYM's money is in holdings VSMV also owns.
The two portfolios partly overlap.
The two holdings books were reported 46 days apart, VSMV as of Sep 15, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
33 positions in common, counted across the 61 positions we hold weights for in VSMV and 557 in VYM, against full books of 63 and 608.
What only one of them owns
Our book lists 496 positions for VYM that do not appear in our book for VSMV (80.7% of the fund), and 28 for VSMV that do not appear in VYM (48.2%).
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 VSMV | Weight in VYM | Difference |
|---|---|---|---|
| JNJJohnson & Johnson - Common | 4.10% | 2.51% | 1.59% |
| XOMExxon Mobil Corp. | 3.88% | 2.63% | 1.25% |
| QCOMQualcomm Inc. | 4.27% | 0.63% | 3.64% |
| UNHUnitedhealth Group Incorporated | 2.50% | 1.52% | 0.98% |
| ALLAllstate Corp. | 3.55% | 0.27% | 3.28% |
| VZVerizon Communications Inc Vz | 2.87% | 0.80% | 2.07% |
| MOAltria Group Inc. | 3.14% | 0.46% | 2.68% |
| CICigna Corp. | 3.09% | 0.30% | 2.79% |
| TELTe Connectivity Plc Common Stock Usd | 2.96% | 0.24% | 2.72% |
| LMTLockheed Martin Corp | 2.64% | 0.48% | 2.16% |
51.8% of VSMV 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, VSMV or VYM?
VSMV has an expense ratio of 0.35% while VYM charges 0.04%. VYM is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, VSMV or VYM?
Over the past year VSMV returned +13.08% vs +13.75% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (9 years), VSMV annualized +10.98% vs +9.57% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VSMV or VYM?
VYM has been the more volatile fund at 14.8% annualized versus 13.0% for VSMV. Worst drawdown: VSMV -31.4% vs VYM -35.7%.
Should I hold both VSMV and VYM?
VSMV and VYM have a monthly-return correlation of 0.91, 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 VSMV and VYM?
51.8% of VSMV's money is in holdings VYM also owns. 16.8% of VYM's is in holdings VSMV also owns. They hold 33 positions in common, counted across the 61 positions we hold weights for in VSMV and 557 in VYM.
Which pays a higher dividend, VSMV or VYM?
VSMV yields 1.32% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than VSMV?
VYM has a lower expense ratio. VSMV led over the full window, VYM over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.91. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 46.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.