IVOV vs VYM
Vanguard S&P Mid-Cap 400 Value ETF vs Vanguard High Dividend Yield ETF
Which is better, IVOV or VYM?
Mid Cap Value against Large Cap Value.
VYM has a lower expense ratio. IVOV led over the full window, VYM over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.90. IVOV is less concentrated, with 10.5% of the fund in its ten largest positions against 25.8%.
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 | IVOV | VYM |
|---|---|---|
| Expense Ratio | 0.10% | 0.04%Best |
| AUM | $1.2B | $78.9B |
| Dividend Yield | 1.72% | 2.37% |
| Holdings | 300 | 608 |
| YTD Return | +6.38% | +11.83%Best |
| 1Y Return | +9.97% | +15.96%Best |
| 3Y Return (annualized) | +14.14% | +18.60%Best |
| 5Y Return (annualized) | +7.43% | +11.51%Best |
| Volatility (annualized) | 18.2% | 12.9%Best |
| Max Drawdown | -46.0% | -35.7%Best |
| $10,000 over 5 years | $14,310 | $17,241Best |
| Top 10 Weight | 10.5%Best | 25.8% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | Sep 7, 2010 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Oct 14, 2026 (16.1 years).
IVOV 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 16.1 years both funds cover.
IVOV vs VYM Performance
Vanguard S&P Mid-Cap 400 Value ETF (IVOV) is an ETF from Vanguard (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year IVOV returned +9.97% while VYM returned +15.96%. Year to date, IVOV is up 6.38% versus a gain of 11.83% for VYM.
Over three years, IVOV compounded at +14.14% per year against +18.60% for VYM; over five years the annualized figures are +7.43% and +11.51% respectively. Across the full 16-year window we track, IVOV has the edge at +11.22% annualized vs +10.41%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVOV has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 12.9% 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 -46.0% for IVOV 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVOV charges 0.10% per year while VYM charges 0.04%. On a $10,000 position that is $10 vs $4 annually, a gap of $6 per year that compounds over a long holding period. On income, IVOV currently yields 1.72% against 2.37% for VYM.
Holdings Overlap
49.8% of IVOV's money is in holdings VYM also owns. 4.2% of VYM's money is in holdings IVOV also owns.
The two portfolios partly overlap.
140 positions in common, counted across the 297 positions we hold weights for in IVOV and 602 in VYM, against full books of 300 and 608.
What only one of them owns
Our book lists 434 positions for VYM that do not appear in our book for IVOV (93.7% of the fund), and 156 for IVOV that do not appear in VYM (49.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IVOV | Weight in VYM | Difference |
|---|---|---|---|
| RSReliance Steel & Aluminum Co. | 1.14% | 0.08% | 1.06% |
| PRPermian Resource | 1.07% | 0.07% | 1.00% |
| OVVOvintiv Inc. | 1.05% | 0.07% | 0.98% |
| RGAReinsurance Group of America, Incorporated | 0.94% | 0.06% | 0.88% |
| DINOHollyfrontier | 0.91% | 0.06% | 0.85% |
| PNFPPinnacle Financial Partners In Common Stock Usd1.0 | 0.87% | 0.06% | 0.81% |
| UNMUnum Group | 0.80% | 0.06% | 0.74% |
| BWABorgWarner Inc | 0.77% | 0.05% | 0.72% |
| ALLYAlly Financial Inc | 0.68% | 0.05% | 0.63% |
| WTRGEssential Utilities Inc - Common | 0.68% | 0.05% | 0.63% |
49.8% of IVOV is already inside VYM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVOV or VYM?
IVOV has an expense ratio of 0.10% while VYM charges 0.04%. VYM is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, IVOV or VYM?
Over the past year IVOV returned +9.97% vs +15.96% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (16 years), IVOV annualized +11.22% vs +10.41% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVOV or VYM?
IVOV has been the more volatile fund at 18.2% annualized versus 12.9% for VYM. Worst drawdown: IVOV -46.0% vs VYM -35.7%.
Should I hold both IVOV and VYM?
IVOV and VYM have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVOV and VYM?
49.8% of IVOV's money is in holdings VYM also owns. 4.2% of VYM's is in holdings IVOV also owns. They hold 140 positions in common, counted across the 297 positions we hold weights for in IVOV and 602 in VYM.
Which pays a higher dividend, IVOV or VYM?
IVOV yields 1.72% while VYM yields 2.37%, so VYM currently pays the higher dividend yield.
Is VYM better than IVOV?
VYM has a lower expense ratio. IVOV led over the full window, VYM over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.90. IVOV is less concentrated, with 10.5% of the fund in its ten largest positions against 25.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.