DIVP vs. VYM

Last updated Jun 24, 2026

DIVP (Cullen Enhanced Equity Income ETF) and VYM (Vanguard High Dividend Yield ETF) are both exchange-traded funds - DIVP is a Derivative Income fund actively managed by Cullen, while VYM is a Dividend fund tracking the FTSE High Dividend Yield Index. DIVP is actively managed, while VYM is passively managed. Over the past year, DIVP returned 12.68% vs 24.08% for VYM. Their correlation of 0.83 suggests significant overlap in exposure. DIVP charges 0.55%/yr vs 0.04%/yr for VYM.

Performance

DIVP vs. VYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen Enhanced Equity Income ETF (DIVP) and Vanguard High Dividend Yield ETF (VYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVP achieves a 8.64% return, which is significantly lower than VYM's 11.51% return.

DIVP

• 1D: 1.02%
• 1M: -0.09%
• YTD: 8.64%
• 6M: 8.11%
• 1Y: 12.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VYM

• 1D: -0.16%
• 1M: 0.26%
• YTD: 11.51%
• 6M: 10.83%
• 1Y: 24.08%
• 3Y*: 18.41%
• 5Y*: 11.88%
• 10Y*: 11.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DIVP vs. VYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVP Cullen Enhanced Equity Income ETF	8.64%	7.76%	5.21%
VYM Vanguard High Dividend Yield ETF	11.51%	15.42%	12.11%

Correlation

The correlation between DIVP and VYM is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.83

The correlation between DIVP and VYM has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

DIVP vs. VYM - Sectors Allocation Comparison

Sectors	DIVP	VYM
Healthcare	16.9%	12.2%
Financial Services	15.6%	19.9%
Consumer Defensive	12.2%	8.0%
Energy	10.6%	9.1%
Industrials	9.4%	11.8%
Technology	8.0%	20.3%
Communication Services	7.9%	3.4%
Real Estate	6.9%	0.0%
Utilities	5.9%	5.4%
Consumer Cyclical	4.3%	6.6%
Basic Materials	2.5%	3.4%

Return for Risk

DIVP vs. VYM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DIVP

DIVP Risk / Return Rank: 38
DIVP Sharpe Ratio Rank: 38
DIVP Sortino Ratio Rank: 39
DIVP Omega Ratio Rank: 34
DIVP Calmar Ratio Rank: 44
DIVP Martin Ratio Rank: 34

VYM

VYM Risk / Return Rank: 75
VYM Sharpe Ratio Rank: 76
VYM Sortino Ratio Rank: 79
VYM Omega Ratio Rank: 75
VYM Calmar Ratio Rank: 73
VYM Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DIVP vs. VYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen Enhanced Equity Income ETF (DIVP) and Vanguard High Dividend Yield ETF (VYM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DIVP	VYM	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.33	-1.08
Sortino ratio: Return per unit of downside risk	1.86	3.33	-1.47
Omega ratio: Gain probability vs. loss probability	1.21	1.42	-0.21
Calmar ratio: Return relative to maximum drawdown	2.03	3.61	-1.58
Martin ratio: Return relative to average drawdown	4.93	13.43	-8.50

DIVP vs. VYM - Sharpe Ratio Comparison

The current DIVP Sharpe Ratio is 1.25, which is lower than the VYM Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of DIVP and VYM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIVP vs. VYM - Drawdown Comparison

The maximum DIVP drawdown since its inception was -12.26%, smaller than the maximum VYM drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for DIVP and VYM.

Drawdown Indicators

	DIVP	VYM	Difference
Max Drawdown Largest peak-to-trough decline	-12.26%	-56.98%	+44.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.28%	-6.69%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.21%	—
Current Drawdown Current decline from peak	-1.12%	-1.28%	+0.16%
Average Drawdown Average peak-to-trough decline	-2.40%	-7.18%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	1.80%	+0.78%

Volatility

DIVP vs. VYM - Volatility Comparison

Cullen Enhanced Equity Income ETF (DIVP) and Vanguard High Dividend Yield ETF (VYM) have volatilities of 3.00% and 3.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVP	VYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	3.02%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	7.10%	7.64%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.20%	10.39%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	13.93%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.76%	16.32%	-4.56%

DIVP vs. VYM - Expense Ratio Comparison

DIVP has a 0.55% expense ratio, which is higher than VYM's 0.04% expense ratio.

Dividends

DIVP vs. VYM - Dividend Comparison

DIVP's dividend yield for the trailing twelve months is around 5.66%, more than VYM's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVP Cullen Enhanced Equity Income ETF	5.66%	6.06%	5.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VYM Vanguard High Dividend Yield ETF	2.30%	2.44%	2.74%	3.12%	3.01%	2.76%	3.18%	3.03%	3.40%	2.80%	2.91%	3.22%

Frequently Asked Questions

Can I hold both DIVP and VYM in my portfolio?

DIVP and VYM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVP or VYM?

VYM has higher volatility (3.02%) compared to DIVP (3.00%). In terms of maximum drawdown, DIVP dropped -12.26% vs VYM's -56.98%.

Which ETF is better, DIVP or VYM?

On 1-year performance, VYM leads with 24.08% vs 12.68% for DIVP. On fees, VYM is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVP or VYM?

Over the 1-year period, VYM has performed better with a 24.08% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVP or VYM?

VYM is cheaper with a 0.04% expense ratio, compared with 0.55% for DIVP.

Which ETF pays a higher dividend yield, DIVP or VYM?

DIVP has the higher dividend yield at 5.66%, compared with 2.30% for VYM.

What is the main difference between DIVP and VYM?

DIVP is categorized as Derivative Income, while VYM is Dividend. They also come from different issuers: Cullen and Vanguard. Their fees differ too: 0.55% for DIVP and 0.04% for VYM.

Which has better risk-adjusted returns?

VYM currently has the higher Sharpe Ratio (2.33 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.