CWB vs VYM
CWB vs VYM
State Street SPDR Bloomberg Convertible Securities ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | CWB | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.04% | |
| AUM | $5.6B | $79.0B | |
| Dividend Yield | 1.37% | 2.86% | |
| Holdings | 334 | 568 | |
| YTD Return | +14.43% | +15.20% | |
| 1Y Return | +23.86% | +25.56% | |
| 3Y Return (annualized) | +15.43% | +17.86% | |
| 5Y Return (annualized) | +5.65% | +12.35% | |
| Volatility (annualized) | 12.8% | 14.6% | |
| Max Drawdown | -32.2% | -58.8% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Apr 14, 2009 | Nov 10, 2006 |
CWB vs VYM Performance
State Street SPDR Bloomberg Convertible Securities ETF (CWB) is a ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CWB returned +23.86% while VYM returned +25.56%. Year to date, CWB is up 14.43% versus a gain of 15.20% for VYM.
Over three years, CWB compounded at +15.43% per year against +17.86% for VYM; over five years the annualized figures are +5.65% and +12.35% respectively. Across the full 17-year window we track, CWB has the edge at +7.94% annualized vs +7.05%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 12.8% for CWB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -32.2% for CWB and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWB charges 0.40% per year while VYM charges 0.04%. On a $10,000 position that is $40 vs $4 annually, a gap of $36 per year that compounds over a long holding period. On income, CWB currently yields 1.37% against 2.86% for VYM.
Holdings Overlap
CWB and VYM share 8 holdings out of 651 unique holdings combined, representing a 3.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CWB | Weight in VYM | Difference |
|---|---|---|---|
| WFC | 1.39% | 1.12% | 0.27% |
| NEE | 1.08% | 0.86% | 0.22% |
| SO | 0.58% | 0.47% | 0.11% |
| ALB | Pro | Pro | Pro |
| F | Pro | Pro | Pro |
| APO | Pro | Pro | Pro |
| ARES | Pro | Pro | Pro |
| CNP | Pro | Pro | Pro |
See all 8 holdings CWB shares with VYM Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, CWB or VYM?
CWB has an expense ratio of 0.40% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, CWB or VYM?
Over the past year CWB returned +23.86% vs +25.56% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (17 years), CWB annualized +7.94% vs +7.05% for VYM. Past performance does not guarantee future results.
Which is riskier, CWB or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 12.8% for CWB. Worst drawdown: CWB -32.2% vs VYM -58.8%.
Should I hold both CWB and VYM?
CWB and VYM have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CWB and VYM?
CWB and VYM share 8 common holdings with a 3.2% weight overlap. Combined, they hold 651 unique securities.
Which pays a higher dividend, CWB or VYM?
CWB yields 1.37% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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