SPY vs. VYMI

Last updated Apr 9, 2026

SPY (State Street SPDR S&P 500 ETF) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds — SPY is a S&P 500 fund tracking the S&P 500 Index, while VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index. Both are passively managed. Over the past 10 years, SPY returned 14.55%/yr vs 10.79%/yr for VYMI. A 0.73 correlation means they provide meaningful diversification when combined. SPY charges 0.09%/yr vs 0.07%/yr for VYMI.

Performance

SPY vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ETF (SPY) and Vanguard International High Dividend Yield ETF (VYMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPY achieves a -0.60% return, which is significantly lower than VYMI's 9.98% return. Over the past 10 years, SPY has outperformed VYMI with an annualized return of 14.55%, while VYMI has yielded a comparatively lower 10.79% annualized return.

SPY

• 1D: 2.55%
• 1M: -0.06%
• YTD: -0.60%
• 6M: 1.00%
• 1Y: 37.72%
• 3Y*: 19.74%
• 5Y*: 11.96%
• 10Y*: 14.55%

VYMI

• 1D: 2.87%
• 1M: 3.94%
• YTD: 9.98%
• 6M: 17.79%
• 1Y: 55.28%
• 3Y*: 21.58%
• 5Y*: 13.18%
• 10Y*: 10.79%

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

SPY vs. VYMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY State Street SPDR S&P 500 ETF	-0.60%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%
VYMI Vanguard International High Dividend Yield ETF	9.98%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-12.65%	22.36%

Correlation

The correlation between SPY and VYMI is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Mar 3, 2016	0.73

The correlation between SPY and VYMI has been stable across timeframes, ranging from 0.63 to 0.73 — a consistent structural relationship.

SPY vs. VYMI - Expense Ratio Comparison

SPY has a 0.09% expense ratio, which is higher than VYMI's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Return for Risk

SPY vs. VYMI — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 78
SPY Sharpe Ratio Rank: 66
SPY Sortino Ratio Rank: 75
SPY Omega Ratio Rank: 78
SPY Calmar Ratio Rank: 83
SPY Martin Ratio Rank: 89

VYMI

VYMI Risk / Return Rank: 94
VYMI Sharpe Ratio Rank: 96
VYMI Sortino Ratio Rank: 97
VYMI Omega Ratio Rank: 96
VYMI Calmar Ratio Rank: 90
VYMI Martin Ratio Rank: 92

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.

SPY vs. VYMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ETF (SPY) and Vanguard International High Dividend Yield ETF (VYMI). 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.

	SPY	VYMI	Difference
Sharpe ratio Return per unit of total volatility	2.18	3.89	-1.72
Sortino ratio Return per unit of downside risk	3.49	5.61	-2.12
Omega ratio Gain probability vs. loss probability	1.50	1.79	-0.29
Calmar ratio Return relative to maximum drawdown	3.98	4.90	-0.93
Martin ratio Return relative to average drawdown	17.31	20.25	-2.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPY vs. VYMI - Sharpe Ratio Comparison

The current SPY Sharpe Ratio is 2.18, which is lower than the VYMI Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of SPY and VYMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPY	VYMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	3.89	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.90	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.64	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.65	-0.08

Drawdowns

SPY vs. VYMI - Drawdown Comparison

The maximum SPY drawdown since its inception was -55.19%, which is greater than VYMI's maximum drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for SPY and VYMI.

Drawdown Indicators

	SPY	VYMI	Difference
Max Drawdown Largest peak-to-trough decline	-55.19%	-40.00%	-15.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-10.14%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-24.05%	-0.45%
Max Drawdown (10Y) Largest decline over 10 years	-33.72%	-40.00%	+6.28%
Current Drawdown Current decline from peak	-2.54%	-2.58%	+0.04%
Average Drawdown Average peak-to-trough decline	-9.09%	-6.38%	-2.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.46%	-0.42%

Volatility

SPY vs. VYMI - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ETF (SPY) is 5.71%, while Vanguard International High Dividend Yield ETF (VYMI) has a volatility of 6.62%. This indicates that SPY experiences smaller price fluctuations and is considered to be less risky than VYMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY	VYMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	6.62%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	9.83%	10.25%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	14.37%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	14.80%	+2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.93%	16.87%	+1.06%

Dividends

SPY vs. VYMI - Dividend Comparison

SPY's dividend yield for the trailing twelve months is around 1.09%, less than VYMI's 3.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.09%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
VYMI Vanguard International High Dividend Yield ETF	3.48%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%	0.00%