VISM.AX vs. VHY.AX

Last updated Jul 16, 2026

VISM.AX (Vanguard MSCI International Small Companies Index ETF) and VHY.AX (Vanguard Australian Shares High Yield ETF) are both exchange-traded funds - VISM.AX is a Small Cap Blend Equities fund tracking the Vanguard MSCI International Small Companies Index Index, while VHY.AX is a Dividend fund tracking the FTSE Australia High Dividend Yield Index. Both are passively managed. Over the past 5 years, VISM.AX returned 8.19%/yr vs 9.87%/yr for VHY.AX. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

VISM.AX vs. VHY.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard MSCI International Small Companies Index ETF (VISM.AX) and Vanguard Australian Shares High Yield ETF (VHY.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VISM.AX having a 8.36% return and VHY.AX slightly lower at 8.22%.

VISM.AX

• 1D: -0.22%
• 1M: -0.63%
• 6M: 5.57%
• YTD: 8.36%
• 1Y: 16.46%
• 3Y*: 14.38%
• 5Y*: 8.19%
• 10Y*: —

VHY.AX

• 1D: 0.20%
• 1M: -0.91%
• 6M: 9.04%
• YTD: 8.22%
• 1Y: 15.11%
• 3Y*: 12.91%
• 5Y*: 9.87%
• 10Y*: 9.28%

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

VISM.AX vs. VHY.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VISM.AX Vanguard MSCI International Small Companies Index ETF	8.36%	12.20%	16.67%	14.76%	-13.42%	21.81%	5.65%	29.06%	-9.49%
VHY.AX Vanguard Australian Shares High Yield ETF	8.22%	14.77%	9.04%	9.83%	7.71%	16.73%	1.71%	20.44%	-4.66%

Correlation

The correlation between VISM.AX and VHY.AX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Nov 13, 2018	0.53

The correlation between VISM.AX and VHY.AX has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

Return for Risk

VISM.AX vs. VHY.AX — Risk / Return Rank

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

VISM.AX

VISM.AX Risk / Return Rank: 44
VISM.AX Sharpe Ratio Rank: 47
VISM.AX Sortino Ratio Rank: 47
VISM.AX Omega Ratio Rank: 47
VISM.AX Calmar Ratio Rank: 39
VISM.AX Martin Ratio Rank: 42

VHY.AX

VHY.AX Risk / Return Rank: 58
VHY.AX Sharpe Ratio Rank: 53
VHY.AX Sortino Ratio Rank: 55
VHY.AX Omega Ratio Rank: 52
VHY.AX Calmar Ratio Rank: 77
VHY.AX Martin Ratio Rank: 53

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.

VISM.AX vs. VHY.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard MSCI International Small Companies Index ETF (VISM.AX) and Vanguard Australian Shares High Yield ETF (VHY.AX). 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.

	VISM.AX	VHY.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.49	-0.14
Sortino ratio: Return per unit of downside risk	1.98	2.15	-0.18
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio: Return relative to maximum drawdown	1.65	3.18	-1.53
Martin ratio: Return relative to average drawdown	5.50	7.34	-1.84

VISM.AX vs. VHY.AX - Sharpe Ratio Comparison

The current VISM.AX Sharpe Ratio is 1.35, which is comparable to the VHY.AX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of VISM.AX and VHY.AX, 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

VISM.AX vs. VHY.AX - Drawdown Comparison

The maximum VISM.AX drawdown since its inception was -31.98%, smaller than the maximum VHY.AX drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for VISM.AX and VHY.AX.

Drawdown Indicators

	VISM.AX	VHY.AX	Difference
Max Drawdown Largest peak-to-trough decline	-31.98%	-35.54%	+3.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.64%	-4.84%	-5.80%
Max Drawdown (3Y) Largest decline over 3 years	-15.91%	-11.68%	-4.23%
Max Drawdown (5Y) Largest decline over 5 years	-24.47%	-14.41%	-10.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.54%	—
Current Drawdown Current decline from peak	-2.83%	-1.80%	-1.03%
Average Drawdown Average peak-to-trough decline	-6.64%	-4.87%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.14%	+1.10%

Volatility

VISM.AX vs. VHY.AX - Volatility Comparison

Vanguard MSCI International Small Companies Index ETF (VISM.AX) has a higher volatility of 2.55% compared to Vanguard Australian Shares High Yield ETF (VHY.AX) at 2.23%. This indicates that VISM.AX's price experiences larger fluctuations and is considered to be riskier than VHY.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VISM.AX	VHY.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.23%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	8.14%	+2.44%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	10.37%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	12.70%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	14.30%	+1.50%

Dividends

VISM.AX vs. VHY.AX - Dividend Comparison

VISM.AX's dividend yield for the trailing twelve months is around 6.88%, more than VHY.AX's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VHY.AX Vanguard Australian Shares High Yield ETF	2.76%	8.37%	2.92%	3.73%	5.02%	4.84%	3.54%	5.35%	7.81%	5.69%	3.84%	6.40%
VISM.AX Vanguard MSCI International Small Companies Index ETF	6.88%	3.82%	1.43%	2.81%	4.41%	5.03%	3.59%	3.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VISM.AX and VHY.AX in my portfolio?

VISM.AX and VHY.AX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between VISM.AX and VHY.AX?

VISM.AX is categorized as Small Cap Blend Equities, while VHY.AX is Dividend. VISM.AX tracks Vanguard MSCI International Small Companies Index Index, while VHY.AX tracks FTSE Australia High Dividend Yield Index.