Data as of Oct 28, 2026.
SPY vs VYM: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPY returned +13.6% to VYM's +18.0%; 35% of their weight is in the same names.
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Net assets: $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust, and $78.9bn on Sep 30, 2026 for Vanguard High Dividend Yield ETF.
Pair scorecard
VYM costs 0.05 points a year less; their one-year returns differ by 4.4 points; SPY is 10.3 times larger.
| Measure | SPY | VYM |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.6% | +18.0% |
| Benchmark | ||
| What it tracks | S&P 500 Index | FTSE High Dividend Yield Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.04% |
| Net assets, as of Sep 30, 2026 | $809.2bn | $78.9bn |
| Holdings | ||
| Holdings in common | 35% | |
| Top ten holdings, share of the fund | 38.1% | 26.2% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Nov 24, 2006 to Oct 23, 2026 · 1,039 weekly returnsSPY returned more: +681.0% to +487.1%. VYM swung slightly less: 16.7% to 18.0%. SPY fell slightly less at its worst: −54.6% to −56.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPY | VYM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +681.0% | +487.1% | SPY | Price change plus distributions, reinvested. |
| Annualized | +10.8% | +9.3% | SPY | Total return as a yearly rate. |
| Price return | +441.5% | +220.2% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.0% | 16.7% | VYM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.7% | 11.8% | VYM (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.6% | −56.7% | SPY (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.57 | 0.52 | SPY (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.81 | 0.73 | SPY (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.20 | 0.16 | SPY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,039 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPY and VYM hold 35% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
35% in common
Only in one fund ↓
Side by side
SPY and VYM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPY and VYM do different jobs. What does each one do in a portfolio?
- What each follows. SPY follows S&P 500 Index and VYM follows FTSE High Dividend Yield Index.
- Holdings in common. 35% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SPY returned +13.6% and VYM +18.0% with distributions reinvested, a gap of 4.4 points.
Data as of Oct 28, 2026.
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SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
VYM
VYM tracks an index of US high dividend. Over the year to Oct 28, 2026 it returned +18.0% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Sep 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 595 positions, with the top ten at 26.2%.
Questions people ask
- Which returned more over the last year, SPY or VYM?
- In the year to Oct 28, 2026, with distributions reinvested, SPY returned +13.6% and VYM +18.0%.
- Which is cheaper, SPY or VYM?
- VYM is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPY against VYM, data as of Oct 28, 2026. https://etfiq.com/compare/any/spy-vs-vym
ETFIQ. (Oct 28, 2026). SPY against VYM. Retrieved from https://etfiq.com/compare/any/spy-vs-vym
[SPY against VYM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spy-vs-vym)
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