At a glance
VYM charges 0.04% a year, below the 0.11% average of the 8 funds most like it (the cheapest of 9). It has $99.19B in assets, the 3rd largest of that group; it paid 2.25% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +19.1% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +21.2% a year. At its worst it fell 15.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months after the low. Its ten largest positions make up 26.1% of the fund, out of 604 in all.
The short version
Vanguard High Dividend Yield Index ETF (VYM) tracks the FTSE High Dividend Yield Index. It holds about 600 US companies that pay higher-than-average dividends and leaves out real estate investment trusts (REITs). Its 0.04% annual expense ratio compares with an average of 0.11% for eight similar funds. It pays dividends quarterly, and its 12-month yield was 2.26% as of October 27, 2026.
Price history
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VYM +19.1% over the year to Oct 30, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VYM official prospectus, to Dec 31, 2025 | — | +15.43% | — | +12.68% | +11.32% | — |
| VYM price data to Oct 30, 2026 | +16.1% | +19.1% | +21.2% | +11.8% | — | +15.0% |
- Over the year to Oct 30, 2026, VYM returned +19.1%, 6th of 9 among similar funds.
- Its 5-year annualized return was +11.8%.
- Its worst full calendar year was 2022 (-0.5%); its best was 2021 (+26.2%).
- The deepest fall in its price history was 15.9% (Apr 20, 2022 to Sep 30, 2022), recovered by Nov 30, 2022.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +16.1% | — |
| 2025 | +15.4% | +15.43% |
| 2024 | +17.6% | +17.60% |
| 2023 | +6.6% | +6.53% |
| 2022 | -0.5% | -0.42% |
| 2021 | +26.2% | +26.14% |
| 2020 | — | +1.14% |
| 2019 | — | +24.20% |
| 2018 | — | -5.87% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Jun 2, 2020 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.8% over that stretch · deepest drop along the way 15.9%, back to its old high 2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.7300 | |
| 2025 | $3.5000 | +0.3% |
| 2024 | $3.4900 | +0.3% |
| 2023 | $3.4800 | +7.1% |
| 2022 | $3.2500 | +4.8% |
| 2021 | $3.1000 |
Living on VYM: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Jul 31, 2026, the fund held 604 securities; the ten largest made up 26.13% of assets.
| Holding | Weight | |
|---|---|---|
| Broadcom Inc | 7.35% | |
| JPMorgan Chase & Co | 3.82% | |
| ExxonMobil Holdings Corp | 2.63% | |
| Johnson & Johnson | 2.51% | |
| Cisco Systems Inc | 1.86% | |
| AbbVie Inc | 1.80% | |
| Bank of America Corp | 1.66% | |
| UnitedHealth Group Inc | 1.52% | |
| Caterpillar Inc | 1.50% | |
| Chevron Corp | 1.48% | |
| Coca-Cola Co | 1.38% | |
| Procter & Gamble Co | 1.37% | |
| Home Depot Inc | 1.34% | |
| Merck & Co Inc | 1.31% | |
| Philip Morris International Inc | 1.21% |
By country
United States 99.73%By asset type
Stocks 99.73%By sector
Sectors of the companies held, for the 78.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $1.69B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.28%, -0.07%, +2.41%.
How it works
VYM is the exchange-traded share class of Vanguard High Dividend Yield Index Fund. It's an index fund, so it doesn't rely on a manager's stock picks. It aims to match the FTSE High Dividend Yield Index, which is made up of common stocks of companies whose dividends are generally higher than average. The index leaves out real estate investment trusts (REITs), which are companies that own property and pass most of their income to shareholders.
The fund tries to copy the index exactly, owning all or nearly all of its stocks in roughly the same proportions. Under normal conditions, it keeps at least 80% of net assets in index stocks. So the index's weights carry straight through. As of July 31, 2026, the fund held 604 stocks. Broadcom alone was 7.35% of assets, followed by JPMorgan Chase at 3.82% and ExxonMobil at 2.63%. The 10 largest holdings made up 26% of the fund.
The fund trades very little. Its portfolio turnover, roughly the share of holdings replaced in a year, was 11%. It uses no leverage and no options strategy. As of July 31, 2026, cash was 0.16% of assets. The fund also held 10 tiny swap contracts (agreements tied to a stock's return), which rounded to 0% of assets. Shares trade on NYSE Arca at market prices, which can drift slightly from the value of the stocks the fund owns.
What it really costs
- VYM charges 0.04% a year, versus an average of 0.11% for the similar funds below (1st of 9, cheapest first).
- Of that, 0.03% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $4 in the first year and $51 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VYM | $4 | $13 | $23 | $51 |
In a retirement portfolio
It targets companies that pay higher-than-average dividends and pays out quarterly, while spreading money across about 600 US stocks.
VYM pays quarterly dividends from about 600 US companies, and its 12-month yield was 2.26% as of October 27, 2026. Costs are low at 0.04% a year: in the SEC's standard example, $10,000 invested would cost $51 over 10 years. Downturns still hurt. Figures for its 2008 results aren't available. In the COVID crash, it lost 23.96% in the first quarter of 2020 but ended that year up 1.14%. In 2022 it fell 15.9% from April to September, then got back to its peak by late November, about two months later. Its worst calendar year from 2018 to 2025 was 2018, with a 5.87% loss.
Cashing out shares in a quarter like early 2020 would have meant locking in steep losses. Companies can also cut dividends when business sours. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking quarterly dividend income from about 600 US stocks, with a 12-month yield of 2.26% as of October 27, 2026.
- People focused on cost: the 0.04% expense ratio compares with a 0.11% average across eight similar funds.
- Those wanting smaller swings: over the year to October 27, 2026, it moved roughly half as much as the broad market (beta 0.55).
Look elsewhere if
- Savers who need the money within a year or two: despite its dividend focus, the fund lost 23.96% in the first quarter of 2020.
- Investors wary of one stock dominating: Broadcom alone made up 7.35% of assets as of July 31, 2026, nearly double the next-largest holding.
- Those seeking top returns: through October 27, 2026, it ranked 6th of 9 similar funds over one year and 7th over three years.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VYM this fund | — | 0.04% | $99.19B | +19.1% | +21.2% |
| VTV Vanguard Value ETF | 66% | 0.04% | $254.48B | +25.4% | +22.3% |
| SCHV Schwab U.S. Large-Cap Value ETF | 64% | 0.04% | $15.67B | +22.4% | +20.3% |
| DGRO iShares Core Dividend Growth ETF | 63% | 0.08% | $42.77B | +21.8% | +20.6% |
| MGV Vanguard Mega Cap Value ETF | 61% | 0.07% | $13.90B | +25.8% | +21.3% |
| VIG Vanguard Dividend Appreciation ETF | 61% | 0.05% | $130.90B | +15.6% | +19.8% |
| DTD WisdomTree U.S. Total Dividend Fund | 60% | 0.28% | $1.61B | +15.9% | +21.3% |
| DLN WisdomTree U.S. LargeCap Dividend Fund | 60% | 0.28% | $6.14B | +16.0% | +21.9% |
Compared head to head: SCHD vs VYM · VIG vs VYM · all comparisons →
Questions investors ask
Does VYM pay monthly dividends?
No. VYM pays dividends quarterly, so holders get four payments a year. Over the 12 months to October 27, 2026, it paid about $3.68 per share. That's a trailing yield (income over the past year divided by the share price) of 2.26%. The amount isn't fixed. It rises and falls with the dividends paid by the roughly 600 companies in the fund, and those companies can cut payouts in hard times.
What's the difference between VYM and VTV?
The main difference is how stocks are chosen. VYM tracks the FTSE High Dividend Yield Index, which holds companies paying higher-than-average dividends and leaves out real estate investment trusts. Vanguard Value ETF (VTV), as its name suggests, focuses on value stocks. Their portfolios overlap by about 66%, and both charge 0.04% a year. Through October 27, 2026, VTV returned 22.3% over one year, against 17.2% for VYM. Over three years, VTV averaged 22.4% a year and VYM 21.4%.
What is VYM's expense ratio?
VYM's expense ratio, the yearly fee taken from fund assets, is 0.04%, according to its prospectus filed February 27, 2026. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs would total about $4 after one year, $23 after five years and $51 after 10 years. Only VTV and SCHV match that fee among its similar funds. The eight funds it was compared with average 0.11%.
What are VYM's top holdings?
As of July 31, 2026, VYM's largest holdings were Broadcom at 7.35% of assets, JPMorgan Chase at 3.82%, ExxonMobil at 2.63%, Johnson & Johnson at 2.51% and Cisco Systems at 1.86%. The 10 largest made up about 26% of the fund, which held 604 stocks, nearly all of them US companies. Financials, technology and health care were the biggest sectors. The index leaves out real estate investment trusts (REITs).
Is VYM good for retirement income?
It can be one source of income, but it's still a stock fund, with stock-market swings. It pays quarterly, yielded 2.26% over the 12 months to October 27, 2026, and charges 0.04% a year. It returned an average of 11.32% a year over the 10 years to December 31, 2025. But it lost 23.96% in the first quarter of 2020 and 5.87% in 2018, and dividends aren't guaranteed. Past results don't predict future ones.