Dividend comparison

VYM vs DVY: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard High Dividend Yield ETF and iShares Select Dividend ETF, side by side. Updated October 21, 2026.

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VYM vs DVY: key differences
The short answer, from the latest data on this page.
  • Fees. VYM is cheaper at 0.04% a year versus 0.38% for DVY. On $10,000 that is $34 a year less in fees.
  • Income. DVY pays more income, yielding 3.35% over the last twelve months versus 2.28% for VYM. That is about $107 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, VYM returned 67.0% versus 53.0% for DVY, with dividends reinvested. $10,000 would have grown to $16,701 in VYM and $15,298 in DVY.
  • Risk. Their worst declines over the last 5 years were similar: -15.8% for VYM and -17.5% for DVY from peak to trough.
  • Diversification. VYM holds 589 positions and DVY holds 98.
  • Dividend growth. DVY grew its yearly payout 7.7% a year over the last 4 years, versus 3.1% for VYM.
  • Size. VYM is the larger fund with $95.8 billion in assets, against $22.9 billion for DVY.

Bottom line: VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification. DVY fits better if you care most about more income today and faster dividend growth.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricVYM
Vanguard High Dividend Yield ETF
DVY
iShares Select Dividend ETF
Dividend yield (TTM)2.28%3.35%
Dividend / share (TTM)$3.68$5.34
Payout frequencyQuarterlyQuarterly
Last dividend$0.8869 on Sep 22, 2026$1.3291 on Sep 18, 2026
Ex-dividend dateSep 18, 2026Sep 15, 2026
Dividend growth (CAGR)3.1% over 4 yrs7.7% over 4 yrs
Price$161.15$159.53
Dividend growth streak15 years5 years
Beta0.750.57
Max drawdown (5Y)-15.8%-17.5%
Market cap$95.79B$23.21B
ExchangeAMEXNASDAQ
Expense ratio0.04%0.38%
Assets under management$95.80B$22.94B
Number of holdings58998
Top 10 concentration26.2%—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

VYM

$19.01/mo

$228 /yr at 2.28% yield

DVY

$27.90/mo

$335 /yr at 3.35% yield

Dividend history
Total dividends paid per share in each calendar year. VYM pays quarterly; DVY pays quarterly.
YearVYMDVY
2025$3.5008$5.1455
2024$3.4945$4.7940
2023$3.4780$4.4756
2022$3.2518$4.1413
2021$3.0961$3.8238
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.

Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.

What VYM vs DVY actually do

VYM
A broad index fund holding the higher-yielding side of the US dividend-paying market, several hundred companies deep.

It tracks the FTSE High Dividend Yield Index, which ranks US dividend payers by forecast yield, excludes REITs, and works down that ranking until roughly half the market value of the eligible universe is covered. Selection is on yield alone with no quality or growth screen, so the portfolio is wide and diversified but includes some payers a stricter screen would reject. Weighting is by market cap, meaning the biggest dividend-paying companies dominate.

Suits an investor who wants dependable above-market income with maximum breadth and minimum concentration risk. Less suitable if you specifically want dividend growth or a fundamental quality filter, since neither is part of the selection rule.

Core dividend holding

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $16,701 in VYM and $15,298 in DVY.
PeriodVYMDVY
1 month1.19%0.82%
3 months0.62%-1.42%
Year to date12.28%13.03%
1 year14.10%12.92%
3 years68.66%64.02%
5 years67.01%52.98%
  • VYM
  • DVY
86132178202120222023202420252026167153

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • VYM
  • DVY
0%9%18%27%36%Financial Services20.9%25.7%Utilities5.0%21.8%Financials24.7%Consumer Defensive8.2%13.9%Energy10.2%11.0%Technology17.5%3.3%Healthcare14.1%5.7%Consumer Cyclical6.0%9.1%Consumer Staples14.0%Industrials11.6%1.9%Other6.5%35.6%
Top 10 holdings
Largest positions by portfolio weight.

VYM589 holdings total

NameWeight
AVGOBroadcom Inc6.93%
JPMJPMorgan Chase & Co3.75%
XOMExxonMobil Holdings Corp2.84%
JNJJohnson & Johnson2.71%
ABBVAbbVie Inc1.96%
CSCOCisco Systems Inc1.80%
CVXChevron Corp1.61%
CATCaterpillar Inc1.56%
MRKMerck & Co Inc1.52%
BACBank of America Corp1.50%

Quick verdict

VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification. DVY fits better if you care most about more income today and faster dividend growth. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
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Frequently asked questions

Is VYM or DVY better for dividend income?
It depends on your goals. VYM currently yields 2.28% Trailing Twelve Months (TTM) while DVY yields 3.35%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between VYM and DVY?
Vanguard High Dividend Yield ETF (VYM) is an ETF listed on AMEX. iShares Select Dividend ETF (DVY) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, VYM or DVY?
VYM has the lower expense ratio. VYM charges 0.04% a year and DVY charges 0.38%, a difference of $34 a year on a $10,000 investment.
Which has performed better, VYM or DVY?
Over the last 5 years, VYM has the higher total return with dividends reinvested: VYM returned 67.0% and DVY returned 53.0%. Past performance does not predict future returns.
Which is riskier, VYM or DVY?
Measured by the worst peak-to-trough decline over the last five years, DVY has been riskier: VYM fell as much as 15.8% and DVY as much as 17.5%. Their betas are 0.75 and 0.57.
How often do VYM and DVY pay dividends?
Both pay quarterly. The most recent payments were $0.8869 for VYM and $1.3291 for DVY.
How much income does $10,000 in VYM vs DVY generate?
At current TTM yields, $10,000 in VYM would generate roughly $19.01 per month ($228 annually). The same amount in DVY would produce about $27.90 per month ($335 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VYM and DVY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare VYM vs DVY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VYM and DVY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.