PHDG vs VYM
PHDG vs VYM
Invesco S&P 500 Downside Hedged 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 | PHDG | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.04% | |
| AUM | $61M | $79.0B | |
| Dividend Yield | 1.68% | 2.86% | |
| Holdings | 514 | 568 | |
| YTD Return | +13.37% | +15.57% | |
| 1Y Return | +19.80% | +25.99% | |
| 3Y Return (annualized) | +9.67% | +18.02% | |
| 5Y Return (annualized) | +4.73% | +12.71% | |
| Volatility (annualized) | 9.9% | 14.6% | |
| Max Drawdown | -23.6% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 5, 2012 | Nov 10, 2006 |
PHDG vs VYM Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year PHDG returned +19.80% while VYM returned +25.99%. Year to date, PHDG is up 13.37% versus a gain of 15.57% for VYM.
Over three years, PHDG compounded at +9.67% per year against +18.02% for VYM; over five years the annualized figures are +4.73% and +12.71% respectively. Across the full 14-year window we track, VYM has the edge at +7.07% annualized vs +4.47%. 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 9.9% for PHDG. 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 -23.6% for PHDG 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHDG charges 0.39% per year while VYM charges 0.04%. On a $10,000 position that is $39 vs $4 annually, a gap of $35 per year that compounds over a long holding period. On income, PHDG currently yields 1.68% against 2.86% for VYM.
Holdings Overlap
PHDG and VYM share 227 holdings out of 825 unique holdings combined, representing a 25.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PHDG | Weight in VYM | Difference |
|---|---|---|---|
| AVGO | 2.12% | 6.47% | 4.35% |
| JPM | 1.06% | 3.36% | 2.30% |
| XOM | 0.68% | 2.83% | 2.15% |
| JNJ | Pro | Pro | Pro |
| WMT | Pro | Pro | Pro |
| ABBV | Pro | Pro | Pro |
| PG | Pro | Pro | Pro |
| CAT | Pro | Pro | Pro |
| HD | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
See all 10 holdings PHDG 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, PHDG or VYM?
PHDG has an expense ratio of 0.39% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $35 per year of difference.
Which performed better, PHDG or VYM?
Over the past year PHDG returned +19.80% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (14 years), PHDG annualized +4.47% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, PHDG or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 9.9% for PHDG. Worst drawdown: PHDG -23.6% vs VYM -58.8%.
Should I hold both PHDG and VYM?
PHDG and VYM have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHDG and VYM?
PHDG and VYM share 227 common holdings with a 25.2% weight overlap. Combined, they hold 825 unique securities.
Which pays a higher dividend, PHDG or VYM?
PHDG yields 1.68% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.