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ETF Comparison

VYM vs VOO: A Yield Screen, or Broad Large Caps?

A head-to-head of Vanguard's High Dividend Yield ETF and S&P 500 ETF covering the screen, cost, and what holding both already shares.

Data updated August 19, 2026

Best for

  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.
  • VYMInvestors who want higher current income (2.37% vs 1.11% for VOO).

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

VOO has lagged VYM over the trailing twelve months, posting a 20.95% total return against 23.69%. The picture flips over 10 years, though — VOO has compounded at 15.30% a year, ahead of VYM at 11.82%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince Sep 2010Volatility Sharpe Sortino Max drawdown
VOO13.20%20.95%22.16%13.44%15.30%15.02%14.9%1.051.51-18.7%
VYM15.60%23.69%19.07%12.42%11.82%13.05%12.5%1.041.51-14.5%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricVOOVYM
Full nameVanguard S&P 500 ETFVanguard High Dividend Yield Index Fund ETF Shares
IssuerVanguardVanguard
Last Close$705.40 as of August 19, 2026$165.55 as of August 19, 2026
Distribution yield1.11%2.37%
Distribution Safety Score™ 10095
Expense ratio0.03%0.04%
AUM$1045B$84.3B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 IndexFTSE High Dividend Yield Index
ObjectiveTrack the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.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 classEquityEquity
Inception date09/07/201011/10/2006
Beta1.00.68
Last dividend$1.9622$0.9800
Ex-dividend date06/26/202606/18/2026

Bottom lineChoose VOO if you want simple, diversified core exposure in one low-cost fund. Choose VYM if you want higher current income (2.37% vs 1.11% for VOO).

VOO vs VYM: the S&P 500 or a high-dividend screen?

VOO is the index. VYM screens for high dividend yield. A yield screen versus the whole S&P 500 is the decision.

VOOVYM
What it ownsS&P 500 IndexFTSE High Dividend Yield Index
Expense ratio0.03%0.04%
Distribution yield1.11%2.37%
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Vanguard
ETFs116
Total AUM$4703B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO and VYM.

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Quick verdict

VOO (Vanguard S&P 500 ETF) 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 2.37% vs 1.11% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.04%.

They track different benchmarks: VOO is linked to S&P 500 Index while VYM tracks FTSE High Dividend Yield Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1045B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose VOO

Vanguard S&P 500 ETF

  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% expense ratio vs 0.04% for VYM.

Choose VYM

Vanguard High Dividend Yield Index Fund ETF Shares

  • Want higher current income — VYM yields 2.37% vs 1.11% for VOO.
  • Want simple, diversified core exposure as a portfolio building block.
  • Prefer lower volatility — a beta of 0.7 vs 1.0 for VOO.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, VOO would generate roughly $9.25/month, while VYM would produce $19.75/month, at current distribution rates. Both pay quarterly distributions.

VOO yield1.11%
VYM yield2.37%
Monthly diff on $10K$10.50

Cost & efficiency

Over 10 years on $10,000, VOO would cost approximately $30 in fees vs $40 for VYM (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

VOO ER0.03%
VYM ER0.04%

Strategy & risk

VOO tracks S&P 500 Index with a large cap approach, while VYM tracks FTSE High Dividend Yield Index. Beta is 1.0 for VOO and 0.68 for VYM, making VYM the less volatile of the two by this measure.

VOO beta1.0
VYM beta0.68

Fund details

VOO is managed by Vanguard (launched 09/07/2010) with $1045B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $84.3B in assets.

VOO AUM$1045B
VYM AUM$84.3B
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Frequently asked questions

What is the difference between VYM and VOO?

VYM (Vanguard High Dividend Yield Index Fund ETF Shares) screens FTSE High Dividend Yield Index for high dividend yield and distributes 2.37% quarterly. VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index and distributes 1.11%. Cost is 0.04% versus 0.03%. A yield screen versus the index is the decision. Figures as of August 2026.

What is the current distribution yield for VOO and VYM?

VOO currently distributes 1.11% and VYM 2.37%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is VOO 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.

Can I hold both VOO 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.

Is VOO or VYM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, VYM scores 95, so VOO's payout currently looks the more resilient of the two. VYM has also shown lower price volatility (beta 0.68 vs 1.00 for VOO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, VOO or VYM?

VOO has an expense ratio of 0.03% while VYM charges 0.04%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in VOO vs VYM generate?

At current rates, $10,000 in VOO would generate roughly $9.25 per month ($111.00 annually). The same in VYM would produce about $19.75 per month ($237.00 annually).

Which has performed better historically, VOO or VYM?

VOO has lagged VYM over the trailing twelve months, posting a 20.95% total return against 23.69%. The picture flips over 10 years, though — VOO has compounded at 15.30% a year, ahead of VYM at 11.82%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

VOO vs VYM — at a glance

Generated August 15, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

VOO and VYM are both Vanguard large-cap equity ETFs, but they track different indexes with markedly different objectives. VOO replicates the broad S&P 500 Index across 500 companies; VYM follows the FTSE High Dividend Yield Index, which screens for dividend-paying stocks with value characteristics. The result is a fundamental difference in yield, risk profile, and market exposure.

How they differ

VOO holds the full S&P 500 and delivers a 1.10% distribution rate, while VYM's narrower focus on high-dividend payers yields 2.35%—more than double. The biggest practical difference is portfolio composition: VOO captures all 500 large-cap stocks with no income preference, while VYM weights toward mature, cash-generative businesses that tend to trade at lower valuations. VOO's beta is 1.0 (by design), reflecting broad market movement; VYM's beta of 0.68 indicates lower volatility relative to the market, a common trait of dividend-focused equity portfolios. Both charge minimal fees—VOO at 0.03% and VYM at 0.06%—but VOO's much larger asset base ($1032B versus $83.4B) means fractionally tighter spreads and deeper liquidity.

Who each is best for

VOO: Fits investors seeking maximum U.S. market breadth with minimal costs and who are indifferent to yield—those building a core equity allocation or pursuing total-return investing where dividends are a byproduct, not the goal.

VYM: Fits investors who want higher current income from U.S. equities and have some tolerance for value-stock characteristics; designed for portfolios emphasizing quarterly cash generation alongside long-term capital appreciation.

Key risks to know

  • Concentration in dividend payers. VYM's index screens for high-dividend stocks, concentrating the fund in sectors and business models (utilities, REITs, energy, financials) that pay large distributions. VOO's broader composition diversifies across growth and non-dividend-paying sectors, reducing sector concentration risk.
  • Value style risk. VYM's FTSE methodology incorporates value characteristics; when growth stocks and mega-cap tech outperform, VYM lags. VOO's market-cap-weighted structure automatically reflects what the market values most, so it captures outperformance from trend shifts without active style tilts. Over multi-year stretches, this gap can be material.
  • Lower volatility as a hidden headwind. VYM's beta of 0.68 means it swings less than the market during rallies; investors who need market-level returns may underperform during strong bull markets if they weight VYM heavily. VOO's beta-1.0 matching ensures you get what the market delivers, up and down.
  • Dividend sustainability in downturns. High-dividend stocks can cut payouts during recessions (energy and financials are historical examples). VYM's higher yield assumes those payouts persist; VOO's lower yield has less exposed to distribution cuts.

Bottom line

VOO is the simpler choice for investors who want the market as it is—all 500 stocks, all sectors, minimal cost. VYM makes sense if you value current income and can accept value-stock tilts and sector concentration as the trade-off for a 2.35% yield. Past performance does not predict future results, and dividend sustainability or style rotation can reshape returns meaningfully over time.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

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