DHF vs VYM
DHF vs VYM
BNY Mellon High Yield Strategies Fund 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 | DHF | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.71% | 0.04% | |
| AUM | $194M | $79.0B | |
| Dividend Yield | 7.75% | 2.86% | |
| Holdings | 318 | 568 | |
| YTD Return | -0.60% | +15.20% | |
| 1Y Return | -0.72% | +25.56% | |
| 3Y Return (annualized) | +10.88% | +17.86% | |
| 5Y Return (annualized) | +0.85% | +12.35% | |
| Volatility (annualized) | 20.1% | 14.6% | |
| Max Drawdown | -89.1% | -58.8% | |
| Fund Family | BNY Mellon Investment Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 29, 1998 | Nov 10, 2006 |
DHF vs VYM Performance
BNY Mellon High Yield Strategies Fund (DHF) is a ETF from BNY Mellon Investment Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year DHF returned -0.72% while VYM returned +25.56%. Year to date, DHF is down 0.60% versus a gain of 15.20% for VYM.
Over three years, DHF compounded at +10.88% per year against +17.86% for VYM; over five years the annualized figures are +0.85% and +12.35% respectively. Across the full 20-year window we track, VYM has the edge at +7.05% annualized vs -4.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DHF has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 14.6% for VYM. 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 -89.1% for DHF 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 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DHF charges 1.71% per year while VYM charges 0.04%. On a $10,000 position that is $171 vs $4 annually, a gap of $167 per year that compounds over a long holding period. On income, DHF currently yields 7.75% against 2.86% for VYM.
Holdings Overlap
DHF and VYM share 0 holdings out of 775 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DHF or VYM?
DHF has an expense ratio of 1.71% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $167 per year of difference.
Which performed better, DHF or VYM?
Over the past year DHF returned -0.72% vs +25.56% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), DHF annualized -4.80% vs +7.05% for VYM. Past performance does not guarantee future results.
Which is riskier, DHF or VYM?
DHF has been the more volatile fund at 20.1% annualized versus 14.6% for VYM. Worst drawdown: DHF -89.1% vs VYM -58.8%.
Should I hold both DHF and VYM?
DHF and VYM have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DHF and VYM?
DHF and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 775 unique securities.
Which pays a higher dividend, DHF or VYM?
DHF yields 7.75% while VYM yields 2.86%, so DHF currently pays the higher dividend yield.
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