HYS vs VYM
HYS vs VYM
PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. HYS offers more diversification with 657 holdings.
Side-by-Side Comparison
| Metric | HYS | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.04% | |
| AUM | $1.7B | $79.0B | |
| Dividend Yield | 7.31% | 2.86% | |
| Holdings | 826 | 568 | |
| YTD Return | +1.31% | +13.24% | |
| 1Y Return | +5.18% | +23.76% | |
| 3Y Return (annualized) | +8.13% | +16.97% | |
| 5Y Return (annualized) | +5.06% | +12.26% | |
| Volatility (annualized) | 6.1% | 14.6% | |
| Max Drawdown | -26.6% | -58.8% | |
| Fund Family | PIMCO (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 16, 2011 | Nov 10, 2006 |
HYS vs VYM Performance
PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (HYS) is a ETF from PIMCO (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year HYS returned +5.18% while VYM returned +23.76%. Year to date, HYS is up 1.31% versus a gain of 13.24% for VYM.
Over three years, HYS compounded at +8.13% per year against +16.97% for VYM; over five years the annualized figures are +5.06% and +12.26% respectively. Across the full 15-year window we track, VYM has the edge at +6.96% annualized vs +1.70%. 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 6.1% for HYS. 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 -26.6% for HYS 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYS charges 0.56% per year while VYM charges 0.04%. On a $10,000 position that is $56 vs $4 annually, a gap of $52 per year that compounds over a long holding period. On income, HYS currently yields 7.31% against 2.86% for VYM.
Holdings Overlap
HYS and VYM share 0 holdings out of 1215 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, HYS or VYM?
HYS has an expense ratio of 0.56% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, HYS or VYM?
Over the past year HYS returned +5.18% vs +23.76% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (15 years), HYS annualized +1.70% vs +6.96% for VYM. Past performance does not guarantee future results.
Which is riskier, HYS or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 6.1% for HYS. Worst drawdown: HYS -26.6% vs VYM -58.8%.
Should I hold both HYS and VYM?
HYS and VYM have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYS and VYM?
HYS and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1215 unique securities.
Which pays a higher dividend, HYS or VYM?
HYS yields 7.31% while VYM yields 2.86%, so HYS currently pays the higher dividend yield.
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