AVK vs VYM
Advent Convertible and Income Fund vs Vanguard High Dividend Yield ETF
Which is better, AVK or VYM?
Convertibles against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AVK | VYM |
|---|---|---|
| Expense Ratio | 2.77% | 0.04%Best |
| AUM | $575M | $78.9B |
| Dividend Yield | 10.71% | 2.37% |
| Holdings | 435 | 608 |
| YTD Return | -2.50% | +11.83%Best |
| 1Y Return | -2.84% | +15.96%Best |
| 3Y Return (annualized) | +16.68% | +18.60%Best |
| 5Y Return (annualized) | +2.21% | +11.51%Best |
| Volatility (annualized) | 22.0% | 14.6%Best |
| Max Drawdown | -72.6% | -58.8%Best |
| $10,000 over 5 years | $11,155 | $17,241Best |
| Fund Family | Guggenheim Investments | Vanguard (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Value |
| Inception | Apr 29, 2003 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 16, 2006 to Oct 14, 2026 (19.9 years).
AVK vs VYM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.9 years both funds cover.
AVK vs VYM Performance
Advent Convertible and Income Fund (AVK) is an ETF from Guggenheim Investments and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year AVK returned -2.84% while VYM returned +15.96%. Year to date, AVK is down 2.50% versus a gain of 11.83% for VYM.
Over three years, AVK compounded at +16.68% per year against +18.60% for VYM; over five years the annualized figures are +2.21% and +11.51% respectively. Across the full 20-year window we track, VYM has the edge at +6.82% annualized vs -0.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVK has been the more volatile fund, with annualized monthly volatility of 22.0% 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 -72.6% for AVK and -58.8% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVK charges 2.77% per year while VYM charges 0.04%. On a $10,000 position that is $277 vs $4 annually, a gap of $273 per year that compounds over a long holding period. On income, AVK currently yields 10.71% against 2.37% for VYM.
Holdings Overlap
At least 4.3% of VYM's money is in holdings AVK also owns.
Stated as a floor: for AVK, our book for it covers 83.8% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VYM and AVK share little of their money.
10 positions in common, counted across the 215 positions we hold weights for in AVK and 602 in VYM, against full books of 435 and 608.
Top Shared Holdings
| Stock | Weight in AVK | Weight in VYM | Difference |
|---|---|---|---|
| NEENextera Energy Inc | 1.02% | 0.69% | 0.33% |
| MSMorgan Stanley | 0.53% | 0.96% | 0.43% |
| MCHPMicrochip Technology Inc. | 1.11% | 0.16% | 0.95% |
| CCitigroup Inc. | 0.33% | 0.90% | 0.57% |
| ETNEaton Corp Plc | 0.35% | 0.63% | 0.28% |
| CMICummins Inc. | 0.43% | 0.31% | 0.12% |
| HONHoneywell International Inc | 0.41% | 0.27% | 0.14% |
| DVNDevon Energy Corp. | 0.38% | 0.22% | 0.16% |
| ALBAlbemarle Corp. | 0.24% | 0.06% | 0.18% |
| ARESAres Management Corp 6.75% Ser | 0.10% | 0.11% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of AVK and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AVK or VYM?
AVK has an expense ratio of 2.77% while VYM charges 0.04%. VYM is the cheaper option, by $273 a year on a $10,000 investment.
Which performed better, AVK or VYM?
Over the past year AVK returned -2.84% vs +15.96% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), AVK annualized -0.74% vs +6.82% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AVK or VYM?
AVK has been the more volatile fund at 22.0% annualized versus 14.6% for VYM. Worst drawdown: AVK -72.6% vs VYM -58.8%.
Should I hold both AVK and VYM?
AVK and VYM have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between AVK and VYM?
At least 4.3% of VYM's money is in holdings AVK also owns. Our book for AVK is partial, so the real figure is this or higher. They hold 10 positions in common, counted across the 215 positions we hold weights for in AVK and 602 in VYM.
Which pays a higher dividend, AVK or VYM?
AVK yields 10.71% while VYM yields 2.37%, so AVK currently pays the higher dividend yield.
Is VYM better than AVK?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.