VYM vs. HYS
VYM (Vanguard High Dividend Yield ETF) and HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) are both exchange-traded funds - VYM is a Dividend fund tracking the FTSE High Dividend Yield Index, while HYS is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained (0-5 Y). Both are passively managed. Over the past 10 years, VYM returned 11.78%/yr vs 5.37%/yr for HYS. A 0.59 correlation means they provide meaningful diversification when combined. VYM charges 0.04%/yr vs 0.56%/yr for HYS.
Performance
VYM vs. HYS - Performance Comparison
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Returns By Period
In the year-to-date period, VYM achieves a 11.57% return, which is significantly higher than HYS's 1.68% return. Over the past 10 years, VYM has outperformed HYS with an annualized return of 11.78%, while HYS has yielded a comparatively lower 5.37% annualized return.
VYM
- 1D
- 0.07%
- 1M
- 2.10%
- YTD
- 11.57%
- 6M
- 12.08%
- 1Y
- 25.29%
- 3Y*
- 17.42%
- 5Y*
- 12.42%
- 10Y*
- 11.78%
HYS
- 1D
- 0.26%
- 1M
- 1.46%
- YTD
- 1.68%
- 6M
- 2.08%
- 1Y
- 7.14%
- 3Y*
- 8.50%
- 5Y*
- 5.14%
- 10Y*
- 5.37%
VYM vs. HYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VYM Vanguard High Dividend Yield ETF | 11.57% | 15.42% | 17.60% | 6.57% | -0.43% | 26.20% | 1.15% | 24.06% | -5.92% | 16.42% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.68% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
Correlation
The correlation between VYM and HYS is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2011 | 0.59 |
The correlation between VYM and HYS has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.
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Return for Risk
VYM vs. HYS — Risk / Return Rank
VYM
HYS
VYM vs. HYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High Dividend Yield ETF (VYM) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.
| VYM | HYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.39 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 3.80 | -0.01 |
| Martin ratioReturn relative to average drawdown | 14.13 | 15.45 | -1.32 |
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Drawdowns
VYM vs. HYS - Drawdown Comparison
The maximum VYM drawdown since its inception was -56.98%, which is greater than HYS's maximum drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for VYM and HYS.
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Drawdown Indicators
| VYM | HYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.98% | -20.91% | -36.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.69% | -1.88% | -4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -14.46% | -4.98% | -9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -15.84% | -10.61% | -5.23% |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | -20.91% | -14.30% |
Current DrawdownCurrent decline from peak | -1.23% | -0.02% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -7.18% | -1.53% | -5.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.46% | +1.33% |
Volatility
VYM vs. HYS - Volatility Comparison
Vanguard High Dividend Yield ETF (VYM) has a higher volatility of 3.06% compared to PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) at 1.00%. This indicates that VYM's price experiences larger fluctuations and is considered to be riskier than HYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VYM | HYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 1.00% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 7.65% | 2.76% | +4.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.39% | 3.48% | +6.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.95% | 6.26% | +7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.35% | 6.84% | +9.51% |
VYM vs. HYS - Expense Ratio Comparison
VYM has a 0.04% expense ratio, which is lower than HYS's 0.56% expense ratio.
Dividends
VYM vs. HYS - Dividend Comparison
VYM's dividend yield for the trailing twelve months is around 2.84%, less than HYS's 7.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.33% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
VYM Vanguard High Dividend Yield ETF | 2.84% | 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
VYM and HYS have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VYM has higher volatility (3.06%) compared to HYS (1.00%). In terms of maximum drawdown, VYM dropped -56.98% vs HYS's -20.91%.
On 10-year performance, VYM leads with 11.78% vs 5.37% for HYS. On fees, VYM is cheaper at 0.04% per year. On volatility, HYS has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VYM has performed better with a 11.78% return vs 5.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VYM is cheaper with a 0.04% expense ratio, compared with 0.56% for HYS.
HYS has the higher dividend yield at 7.33%, compared with 2.84% for VYM.
VYM is categorized as Dividend, while HYS is High Yield Bonds. VYM tracks FTSE High Dividend Yield Index, while HYS tracks ICE BofA US High Yield Constrained (0-5 Y). They also come from different issuers: Vanguard and PIMCO. Their fees differ too: 0.04% for VYM and 0.56% for HYS.
VYM currently has the higher Sharpe Ratio (2.44 vs 2.06), 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.
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