CWB vs VYM
State Street SPDR Bloomberg Convertible Securities ETF vs Vanguard High Dividend Yield ETF
Which is better, CWB 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 | CWB | VYM |
|---|---|---|
| Expense Ratio | 0.40% | 0.04%Best |
| AUM | $5.4B | $78.9B |
| Dividend Yield | 1.56% | 2.37% |
| Holdings | 718 | 608 |
| YTD Return | +7.49% | +11.83%Best |
| 1Y Return | +5.25% | +15.96%Best |
| 3Y Return (annualized) | +14.86% | +18.60%Best |
| 5Y Return (annualized) | +4.04% | +11.51%Best |
| Volatility (annualized) | 12.8%Best | 13.2% |
| Max Drawdown | -32.2%Best | -35.7% |
| $10,000 over 5 years | $12,190 | $17,241Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Value |
| Inception | Apr 14, 2009 | Nov 10, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 16, 2009 to Oct 14, 2026 (17.5 years).
CWB 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 17.5 years both funds cover.
CWB vs VYM Performance
State Street SPDR Bloomberg Convertible Securities ETF (CWB) is an ETF from State Street Investment Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year CWB returned +5.25% while VYM returned +15.96%. Year to date, CWB is up 7.49% versus a gain of 11.83% for VYM.
Over three years, CWB compounded at +14.86% per year against +18.60% for VYM; over five years the annualized figures are +4.04% and +11.51% respectively. Across the full 18-year window we track, VYM has the edge at +11.02% annualized vs +7.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 13.2% 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 -35.7% 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 0.73. 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 1.56% against 2.37% for VYM.
Holdings Overlap
At least 0.5% of VYM's money is in holdings CWB also owns.
Stated as a floor: for CWB, our book for it covers 46.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
2 positions in common, counted across the 160 positions we hold weights for in CWB and 602 in VYM, against full books of 718 and 608.
You are not choosing between two funds in isolation.
Whichever of CWB 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, CWB or VYM?
CWB has an expense ratio of 0.40% while VYM charges 0.04%. VYM is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, CWB or VYM?
Over the past year CWB returned +5.25% vs +15.96% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (18 years), CWB annualized +7.47% vs +11.02% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWB or VYM?
VYM has been the more volatile fund at 13.2% annualized versus 12.8% for CWB. Worst drawdown: CWB -32.2% vs VYM -35.7%.
Should I hold both CWB and VYM?
CWB and VYM have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CWB or VYM?
CWB yields 1.56% while VYM yields 2.37%, so VYM currently pays the higher dividend yield.
Is VYM better than CWB?
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.