A head-to-head comparison of SPDR S&P 500 ETF Trust and Vanguard High Dividend Yield Index Fund ETF Shares covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on SPY.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.
See our curated list of related YouTube videos on VYM.
Vanguard High Dividend Yield Index Fund ETF Shares
Issuer
State Street
Vanguard
Last Close
$751.83 as of July 15, 2026
$160.18 as of July 15, 2026
Distribution yield
1.01%
2.45%
Distribution Safety Score
100
100
Expense ratio
0.10%
0.06%
AUM
$783B
$78.3B
Distribution frequency
Quarterly
Quarterly
Underlying index
S&P 500 Index
a basket of Vanguard High Dividend Yield ETF holdings
Objective
Track the S&P 500 Index before expenses.
Seeks to track the performance of the FTSE High Dividend Yield Index, which offers exposure to dividend-paying large-cap companies that exhibit value characteristics within the U.S. equity market. The index includes stocks with a history of paying above-average dividends.
Asset class
Equity
Equity
Inception date
01/22/1993
11/10/2006
Beta
1.0
0.69
Last dividend
$1.9035
$0.9800
Ex-dividend date
09/18/2026
06/18/2026
Bottom lineChoose SPY if you want simple, diversified core exposure in one low-cost fund. Choose VYM if you want higher current income (2.45% vs 1.01% for SPY).
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPY (SPDR S&P 500 ETF Trust) and VYM (Vanguard High Dividend Yield Index Fund ETF Shares) are both quarterly-pay dividend ETFs, but they take different approaches.
VYM offers the higher yield at 2.45% vs 1.01% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
VYM is cheaper with an expense ratio of 0.06% compared to 0.10%.
They track different benchmarks: SPY is linked to S&P 500 Index while VYM tracks a basket of Vanguard High Dividend Yield ETF holdings, which means their performance drivers differ.
SPY is the larger fund by assets ($783B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SPY would generate roughly $8.42/month, while VYM would produce $20.42/month, at current distribution rates. Both pay quarterly distributions.
SPY yield1.01%
VYM yield2.45%
Monthly diff on $10K$12.00
Cost & efficiency
Over 10 years on $10,000, SPY would cost approximately $100 in fees vs $60 for VYM (simplified, not compounded). The $40.00 difference may be offset by yield or performance.
SPY ER0.10%
VYM ER0.06%
Strategy & risk
SPY tracks S&P 500 Index with a large cap approach, while VYM holds a basket of Vanguard High Dividend Yield ETF holdings with an index approach. Beta is 1.0 for SPY and 0.69 for VYM, indicating VYM is less volatile relative to the market.
SPY beta1.0
VYM beta0.69
Fund details
SPY is managed by State Street (launched 01/22/1993) with $783B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $78.3B in assets.
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Frequently asked questions
Is SPY or VYM better for dividend income?
It depends on your goals. VYM currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SPY and VYM?
SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach, while VYM (Vanguard High Dividend Yield Index Fund ETF Shares) holds a basket of Vanguard High Dividend Yield ETF holdings with an index approach. They are issued by State Street and Vanguard respectively.
Can I hold both SPY and VYM?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, SPY or VYM?
SPY has an expense ratio of 0.10% while VYM charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPY vs VYM generate?
At current rates, $10,000 in SPY would generate roughly $8.42 per month ($101.00 annually). The same in VYM would produce about $20.42 per month ($245.00 annually).
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