VTV vs. VYM

Last updated Jun 12, 2026

VTV (Vanguard Value ETF) and VYM (Vanguard High Dividend Yield ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while VYM is a Dividend fund tracking the FTSE High Dividend Yield Index. Both are passively managed. Over the past 10 years, VTV returned 12.64%/yr vs 11.85%/yr for VYM. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.

Performance

VTV vs. VYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) 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, VTV achieves a 13.24% return, which is significantly higher than VYM's 11.47% return. Over the past 10 years, VTV has outperformed VYM with an annualized return of 12.64%, while VYM has yielded a comparatively lower 11.85% annualized return.

VTV

• 1D: 1.67%
• 1M: 3.15%
• YTD: 13.24%
• 6M: 12.56%
• 1Y: 26.46%
• 3Y*: 18.07%
• 5Y*: 11.56%
• 10Y*: 12.64%

VYM

• 1D: 1.17%
• 1M: 1.98%
• YTD: 11.47%
• 6M: 8.97%
• 1Y: 24.24%
• 3Y*: 18.03%
• 5Y*: 11.41%
• 10Y*: 11.85%

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

VTV vs. VYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	13.24%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
VYM Vanguard High Dividend Yield ETF	11.47%	15.42%	17.60%	6.57%	-0.43%	26.20%	1.15%	24.06%	-5.92%	16.42%

Correlation

The correlation between VTV and VYM is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 16, 2006	0.97

The correlation between VTV and VYM has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

VTV vs. VYM - Sectors Allocation Comparison

Sectors	VTV	VYM
Financial Services	22.3%	20.5%
Healthcare	14.5%	12.2%
Industrials	14.0%	12.1%
Technology	13.4%	17.7%
Consumer Defensive	9.4%	8.1%
Energy	8.1%	9.8%
Utilities	5.2%	5.7%
Consumer Cyclical	4.0%	6.7%
Communication Services	3.3%	3.5%
Basic Materials	3.1%	3.5%
Real Estate	2.8%	0.0%

Return for Risk

VTV vs. VYM — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 89
VTV Sharpe Ratio Rank: 90
VTV Sortino Ratio Rank: 91
VTV Omega Ratio Rank: 88
VTV Calmar Ratio Rank: 87
VTV Martin Ratio Rank: 88

VYM

VYM Risk / Return Rank: 84
VYM Sharpe Ratio Rank: 86
VYM Sortino Ratio Rank: 87
VYM Omega Ratio Rank: 84
VYM Calmar Ratio Rank: 82
VYM Martin Ratio Rank: 83

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.

VTV vs. VYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) 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.

	VTV	VYM	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.33	+0.24
Sortino ratio: Return per unit of downside risk	3.66	3.31	+0.34
Omega ratio: Gain probability vs. loss probability	1.46	1.42	+0.04
Calmar ratio: Return relative to maximum drawdown	4.18	3.64	+0.55
Martin ratio: Return relative to average drawdown	15.75	13.53	+2.22

VTV vs. VYM - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.57, which is comparable to the VYM Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of VTV 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

VTV vs. VYM - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, roughly equal to the maximum VYM drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for VTV and VYM.

Drawdown Indicators

	VTV	VYM	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-56.98%	-2.29%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-6.69%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-14.46%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-15.84%	-1.20%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-35.21%	-1.57%
Current Drawdown Current decline from peak	0.00%	-1.32%	+1.32%
Average Drawdown Average peak-to-trough decline	-7.86%	-7.19%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.80%	-0.12%

Volatility

VTV vs. VYM - Volatility Comparison

Vanguard Value ETF (VTV) and Vanguard High Dividend Yield ETF (VYM) have volatilities of 3.25% and 3.25%, 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

	VTV	VYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	3.25%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.88%	7.89%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	10.45%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	13.99%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	16.35%	+0.33%

VTV vs. VYM - Expense Ratio Comparison

Both VTV and VYM have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VTV vs. VYM - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.85%, less than VYM's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTV Vanguard Value ETF	1.85%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%
VYM Vanguard High Dividend Yield ETF	2.21%	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 VTV and VYM in my portfolio?

With a correlation of 0.93, VTV and VYM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VTV or VYM?

VYM has higher volatility (3.25%) compared to VTV (3.25%). In terms of maximum drawdown, VTV dropped -59.27% vs VYM's -56.98%.

Which ETF is better, VTV or VYM?

On 10-year performance, VTV leads with 12.64% vs 11.85% for VYM. Both ETFs have the same 0.04% expense ratio. 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, VTV or VYM?

Over the 10-year period, VTV has performed better with a 12.64% return vs 11.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or VYM?

VTV and VYM have the same expense ratio: 0.04% per year.

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

VYM has the higher dividend yield at 2.21%, compared with 1.85% for VTV.

What is the main difference between VTV and VYM?

VTV is categorized as Large Cap Value Equities, while VYM is Dividend. VTV tracks CRSP US Large Cap Value Index, while VYM tracks FTSE High Dividend Yield Index.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.57 vs 2.33), 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.