SPGP vs VYM

SPGPBInvesco S&P 500 GARP ETF

VYMAVanguard High Dividend Yield ETF

In short

SPGP Growth at a reasonable price, by rulebook: screen the S&P 500 for fast earnings and sales growth, then keep only the names that also look cheap and financially sound. About 75 stocks, weighted by growth score, for 0.34%.

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

SPGP SPGP seeks exposure to companies combining fundamental growth, reasonable valuation, financial strength, and earning power through the S&P 500 GARP Index.

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

• SPGP Two gates, in order: rank the S&P 500 on three-year earnings and sales growth, then keep the best on return on equity, leverage and earnings-to-price. About 75 names survive.spglobal.comspglobal.com 2
• Weighted by growth score, not market cap, with caps on any single stock and any one sector, so it won't just reload on whatever mega-cap has run hardest.spglobal.comspglobal.com 2
• Rebalances each June and December on fundamental data, so the valuation discipline gets reapplied twice a year instead of drifting with prices.spglobal.comspglobal.com 2
• Has tracked its index closely and trades regularly enough for everyday retail orders; it has grown into a multi-billion-dollar fund.

• 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

• SPGP At 0.34%, with no fee waiver, the cost sits near its category median; cheaper broad factor peers exist, such as VYM at 0.04% and VONV at 0.06%.
• Narrow by design, roughly 75 of the 500, and it has swung harder than the typical multifactor fund; the sector mix can shift at each rebalance.spglobal.com
• Distributions come quarterly, and yield plays no part in selection: the screen reads growth, quality and valuation only.spglobal.com

• 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 SPGP profile⁠

Full VYM profile⁠