QVMM vs VYM

QVMMBInvesco S&P MidCap 400 QVM Multi-factor ETF

VYMAVanguard High Dividend Yield ETF

In short

QVMM Most factor funds cut deep and hold a concentrated few. QVMM trims instead: it starts with the S&P MidCap 400 and keeps the names ranking best on quality, value and momentum, for 0.15% a year.

VYM The no-frills dividend workhorse. VYM buys the higher-yielding end of the US market, roughly 600 names, for four basis points: no quality screen, no dividend-growth-streak test, just yield, at scale since 2006.

Stated mandate

QVMM The fund seeks to track the performance of a subset of securities from the S&P MidCap 400 Index selected for quality, value, and momentum characteristics.

VYM The Fund seeks to track a benchmark index measuring the investment return of common stocks from companies characterized by high dividend yields.

Why people hold it

• QVMM Charges 0.15% a year, less than half the typical multi-factor fund's fee.
• Three screens at once (quality, value, momentum) across roughly 400 mid-cap names, so no single factor's cold stretch drives the whole portfolio.
• Every candidate comes from the S&P MidCap 400, so there's no quiet drift up into the mega-caps a core large-cap fund already owns. Distributions land quarterly.
• Stands in the upper half of a crowded multi-factor field, with low cost and broad holdings doing most of the work.

• VYM Four basis points a year, against a peer-group median near 0.32%. Cheaper than cohort neighbors VONV (0.06%) and FNDX (0.25%).
• Running since 2006 and now a multi-billion-dollar fund that trades actively, so ordinary orders tend to fill at tight spreads.
• Simple mandate: track the FTSE High Dividend Yield Index of US common stocks screened on yield. No manager discretion, no options overlay, plain 1940-Act fund.vanguard.com
• Pays quarterly, and among 100-plus value and multifactor rivals it stands as one of the strongest overall packages in the group.

Worth knowing

• QVMM Thinly traded and mid-sized in assets, so spreads can run wider than at category giants like VYM or VONV. Order size and timing matter more here.
• Launched in 2021, a shorter history than the decades-old names it sits beside in the multi-factor aisle.
• Keeping most of the mid-cap index means the fund moves with that segment. The factor tilt is a nudge, not a sharp break from mid-cap risk.

• VYM The screen is yield, not payout growth or dividend quality, so a company can qualify simply because its share price fell.
• This is a value slice by design, tilted to established payers, so it behaves differently from a total US market fund.
• Roughly 600 holdings, but weight leans toward the largest payers, so the top of the roster does more of the work than the count suggests.

Full QVMM profile⁠

Full VYM profile⁠