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Dividend Vision

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.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.
  • VYMInvestors who want higher current income (2.27% vs 1.03% 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

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

VOO has outpaced VYM over the trailing twelve months, posting a 16.45% total return against 13.62%. The lead holds up over 10 years too: VOO has compounded at 15.46% a year, against 11.41% for VYM. 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.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
VOO13.59%16.45%23.23%13.71%15.46%14.93%14.8%1.111.61-18.7%
VYM10.00%13.62%18.48%11.55%11.41%12.60%12.4%1.011.46-14.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — 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 ETF
IssuerVanguardVanguard
Underlying indexS&P 500 IndexFTSE High Dividend Yield Index
Last Close$707.54 as of October 2, 2026$156.46 as of October 2, 2026
Distribution rate1.03%2.27%
Trailing 12-month yield1.05%2.35%
Distribution Safety Score™ 10095
Safety-Adjusted Yield 1.03%2.16%
Expense ratio0.03%0.04%
AUM$1041B$80.2B
Distribution frequencyQuarterlyQuarterly
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
Beta1.00.66
Last dividend$1.8226$0.887
Ex-dividend date09/28/202609/18/2026

Bottom lineChoose VOO if you want simple, diversified core exposure in one low-cost fund. Choose VYM if you want higher current income (2.27% vs 1.03% 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 rate1.03%2.27%
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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$4676B

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 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

VYM offers the higher yield at 2.27% vs 1.03% 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 have different reference exposures: VOO is linked to S&P 500 Index while VYM is linked to FTSE High Dividend Yield Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1041B), but assets alone do not establish trading costs or 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 ETF

  • Want higher current income — VYM yields 2.27% vs 1.03% 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 $25.75 cash per distribution, while VYM would produce $56.75 cash per distribution, at current distribution rates. Both pay quarterly distributions.

VOO yield1.03%
VYM yield2.27%
Cash diff on $10K$31.00

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 0.66 for VYM, making VYM the less volatile of the two by this measure.

VOO beta1.0
VYM beta0.66

Fund details

VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets. VYM is managed by Vanguard (launched 11/10/2006) with $80.2B in assets.

VOO AUM$1041B
VYM AUM$80.2B
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Frequently asked questions

What is the difference between VYM and VOO?

VYM (Vanguard High Dividend Yield ETF) screens FTSE High Dividend Yield Index for high dividend yield and distributes 2.27% quarterly. VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index and distributes 1.03%. Cost is 0.04% versus 0.03%. A yield screen versus the index is the decision. Figures as of October 2026.

What is the current distribution rate for VOO and VYM?

VOO currently distributes 1.03% and VYM 2.27%, based on fund data updated October 2026. Distribution rate 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 0.66 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 $25.75 cash per distribution ($103.00 annually). The same in VYM would produce about $56.75 cash per distribution ($227.00 annually).

Which has performed better historically, VOO or VYM?

VOO has outpaced VYM over the trailing twelve months, posting a 16.45% total return against 13.62%. The lead holds up over 10 years too: VOO has compounded at 15.46% a year, against 11.41% for VYM. 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 October 3, 2026.

Overview

VOO and VYM are both Vanguard equity ETFs tracking broad U.S. large-cap indexes, but they pursue different objectives. VOO replicates the entire S&P 500, capturing 500 of the largest U.S. companies with market-weight proportions. VYM tracks the FTSE High Dividend Yield Index, selecting from large-caps specifically for above-average dividend payout history and value characteristics. The key distinction: VOO is a cap-weighted mega-fund designed for core equity exposure, while VYM tilts toward dividend-paying value stocks.

How they differ

VOO holds the S&P 500 in its exact index proportions, meaning mega-cap tech and financials dominate the weighting. VYM applies a dividend-yield and value screen, skewing toward sectors and companies historically known for payouts—a structural tilt away from growth stocks and toward financials, utilities, and industrials. The dividend gap is stark: VOO yields 1.03%, while VYM yields 2.27%, a 1.24% percentage-point spread. Both pay quarterly, keeping reinvestment mechanics simple. Beta underscores the divergence: VOO moves with the broad market at 1.0, whereas VYM's 0.66 indicates lower volatility and weaker cyclical exposure—typical for value-tilted portfolios. Expense ratios are nearly identical (0.03% vs. 0.04%), but VOO's asset base dwarfs VYM's at $1041B versus $80.2B.

Who each is best for

VOO: Fits investors seeking a single, diversified holding that captures the entire large-cap U.S. equity market with minimal cost and no sector or style tilts—a foundational core equity position.

VYM: Fits investors who want exposure to large-cap U.S. equities but prefer a tilt toward dividend-paying and value-oriented companies, accepting lower upside in growth-heavy cycles in exchange for higher current income.

Key risks to know

  • Sector concentration in VOO. The S&P 500's market-weighted construction means the top 10 holdings represent a significant portion of the fund, with tech and mega-cap dominance creating exposure concentration that value-tilted VYM avoids.
  • Value underperformance in growth markets. VYM's dividend and value screen can lag sharply when growth stocks rally—beta of 0.66 means it captures less upside in rising markets and may underperform during multi-year tech-led rallies.
  • Dividend sustainability risk in VYM. Selecting for high current yield can inadvertently overweight companies near peak dividend payouts or facing pressure to maintain them; a dividend cut or suspension among VYM's larger holdings could narrow its yield advantage quickly.
  • Overlap and correlated holdings. Both funds hold large U.S. equities; their correlations may be higher than their index objectives suggest, limiting true diversification if held together as parallel positions.

Bottom line

VOO is the purest play on S&P 500 breadth and growth exposure, with the lowest possible friction. VYM trades some of that growth capture for higher current income and lower volatility, accepting a value tilt and smaller asset base in exchange. If you prioritize simplicity, growth exposure, and mega-cap market participation, VOO's low cost and structural simplicity stand out; if you want dividend income and value characteristics from a large-cap equity core, VYM's yield premium and defensive beta fit that need. Past performance does not predict future results.

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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These comparisons follow the Dividend Vision methodology.