VYM vs XSVM: Grades, Fees and Holdings Compared

Vanguard High Dividend Yield ETF

VYMANYSE Arca

Invesco S&P SmallCap Value with Momentum ETF

XSVMCNYSE Arca

Overlap

0.5%by weight

Expense ratio

VYM −0.32pt a year

VYM0.04%XSVM0.36%

Avg volume · 30D

VYM 32.9×the volume

VYM1.14MXSVM34.7K

10Y return · a year

XSVM +0.4pt

VYM+12.0%XSVM+12.4%

VYM vs XSVM Performance

Oct 29, 2021 – Oct 30, 2026

+74.3%VYM+40.5%XSVM

Expense ratio: VYM 0.04%, better; XSVM 0.36%
Fund size: VYM $95.8B; XSVM $589M
1Y total return: VYM +19.3%; XSVM +25.6%, better
Yield (12M): VYM 2.24%, better; XSVM 1.88%
Holdings: VYM 601; XSVM 119
Avg volume (30D): VYM 1.14M sh, better; XSVM 34.7K sh
NAV per share: VYM $163.75; XSVM $67.35
52W range

ETF.net Grade

Pillar letters and Scores for VYM, XSVM, with each pillar’s weight
Pillar	VYM	XSVM
Cost30% weight	A99Higher	C42
Mission25% weight	A79Higher	A73
Risk15% weight	A84Higher	D29
Tradability15% weight	B61Higher	C54
Holdings10% weight	C53	B59Higher
Durability5% weight	A95Higher	B68

Rank among US Multifactor funds

How we build Categories ›

Same Category. VYM and XSVM are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

VYM ranks 2nd and XSVM 56th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 4AIMCViShares Morningstar Mid-Cap Value ETFScore 80
Rank 56CQGRWWisdomTree U.S. Quality Growth FundScore 52
Rank 56CXSVMInvesco S&P SmallCap Value with Momentum ETFScore 52
Rank 64CDSTLDistillate U.S. Fundamental Stability & Value ETFScore 50

Our read on each fund

ETF.net Research

VYMAVanguard High Dividend Yield ETF

XSVMCInvesco S&P SmallCap Value with Momentum ETF

In short

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.

XSVM Small-cap value with a momentum tiebreaker: 120 of the S&P SmallCap 600's cheaper names, weighted by how cheap they are rather than how big. Live since 2005, priced at 0.36%.

Stated mandate

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

XSVM The Fund seeks to track the S&P 600 High Momentum Value Index, which selects 120 securities from the S&P SmallCap 600 Index using value and momentum scores.

Why people hold it

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.

XSVM Constituents are weighted by value score, so the cheapest names carry the biggest weights. A genuine deep-value tilt, not a cap-weighted index wearing a value label.spglobal.com
Momentum is the second gate: S&P screens the 600 on value, then ranks that pool on momentum and keeps 120. A built-in check against buying cheap stocks that keep falling.spglobal.com
Trading since 2005, so the strategy has a live record spanning the 2008 crash, not just a backtest.
Rebalances every June and December, which keeps the portfolio recognizably cheap instead of letting winners quietly take over.spglobal.com

Worth knowing

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.

XSVM At 0.36% it sits above the category median, and the group's cheapest options are far lower: VONV at 0.06%, ILCV at 0.04%.
Deep value in small caps is a bumpy ride, and this has been one of the more volatile funds in its peer group.
About 120 names and lighter trading than the category's giants, so spreads can matter more on entry and exit.

Full VYM profile⁠

Full XSVM profile⁠

VYM vs XSVM Holdings

How VYM and XSVM differ

Overlap by weight

0.5%

Shared holdings make up 34.0% of XSVM and 0.5% of VYM.

Level by level

Holdings43 in both0.5%
Sector11 Sectors54.0%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in VYM and XSVM, widest gap first
Sector	More in VYMMore in XSVM	VYM	XSVM
Financials	XSVM +24.5 points	20.9%	45.4%
Technology	VYM +14.5 points	17.5%	3.0%
Health Care	VYM +12.7 points	14.1%	1.4%
Consumer Discretionary	XSVM +12.6 points	6.0%	18.6%
Real Estate	XSVM +8.9 points	0.0%	8.9%
Industrials	VYM +7.1 points	11.6%	4.5%
Consumer Staples	VYM +3.9 points	8.2%	4.3%
Energy	VYM +3.7 points	10.2%	6.5%
Utilities	VYM +3.1 points	5.0%	1.9%
Communication	VYM +0.9 points	3.3%	2.4%
Materials	XSVM +0.1 points	3.2%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in VYM and XSVM, widest gap first
Country	More in VYMMore in XSVM	VYM	XSVM
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

VYM26.2%
XSVM16.4%

Securities held

VYM594
XSVM118

Asset class

VYM: Equity
XSVM: Equity

Holdings

Only in VYM551
In both43
Only in XSVM75

Only in VYM

551 securities, 99.3% of VYM by weight

Broadcom Inc6.94%
JPMorgan Chase & Co3.76%
ExxonMobil Holdings Corp2.85%
Johnson & Johnson2.71%
AbbVie Inc1.97%
Cisco Systems Inc1.81%
Chevron Corp1.61%
Caterpillar Inc1.56%
Merck & Co Inc1.53%
Bank of America Corp1.50%
Procter & Gamble Co/The1.44%
Coca-Cola Co/The1.42%
UnitedHealth Group Inc1.41%
Philip Morris International Inc1.26%
Home Depot Inc/The1.21%
Texas Instruments Inc1.08%
RTX Corp1.06%
Goldman Sachs Group Inc/The1.03%
Wells Fargo & Co1.03%
Oracle Corp1.00%
Linde PLC0.93%
Citigroup Inc0.92%
Morgan Stanley0.90%
Amgen Inc0.89%
International Business Machines Corp0.88%
QUALCOMM Inc0.82%
Analog Devices Inc0.82%
Verizon Communications Inc0.82%
Gilead Sciences Inc0.79%
Walt Disney Co/The0.78%
PepsiCo Inc0.73%
Abbott Laboratories0.73%
Eaton Corp PLC0.71%
McDonald's Corp0.70%
AT&T Inc0.69%
Pfizer Inc0.69%
Dell Technologies Inc0.69%
Blackrock Inc0.69%
Union Pacific Corp0.69%
NextEra Energy Inc0.67%
ConocoPhillips0.65%
Bristol-Myers Squibb Co0.54%
Newmont Corp0.52%
Progressive Corp/The0.51%
Capital One Financial Corp0.49%
Marathon Petroleum Corp0.49%
Chubb Ltd0.49%
Altria Group Inc0.48%
Accenture PLC0.48%
Valero Energy Corp0.47%

Only in XSVM

75 securities, 65.9% of XSVM by weight

Kohl's Corp3.26%
MarineMax Inc1.67%
Sally Beauty Holdings Inc1.65%
ScanSource Inc1.48%
Par Pacific Holdings Inc1.45%
Genworth Financial Inc1.42%
Del Monte Corp1.25%
Adient PLC1.21%
SiriusPoint Ltd1.19%
United Fire Group Inc1.13%
Encore Capital Group Inc1.12%
Academy Sports & Outdoors Inc1.11%
Cushman & Wakefield Ltd1.09%
United Natural Foods Inc1.07%
G-III Apparel Group Ltd1.06%
Andersons Inc/The1.05%
Pebblebrook Hotel Trust1.04%
NMI Holdings Inc1.04%
Koppers Holdings Inc1.03%
Standard Motor Products Inc1.03%
International Seaways Inc0.98%
Dauch Corp0.96%
Sonic Automotive Inc0.94%
Deluxe Corp0.91%
Tompkins Financial Corp0.91%
Bristow Group Inc0.91%
Pediatrix Medical Group Inc0.90%
Customers Bancorp Inc0.90%
Scholastic Corp0.87%
PennyMac Mortgage Investment Trust0.87%
Capitol Federal Financial Inc0.85%
Millrose Properties Inc0.85%
Apple Hospitality REIT Inc0.84%
Crescent Energy Co0.84%
Metallus Inc0.82%
Hanmi Financial Corp0.82%
StoneX Group Inc0.81%
People Inc0.81%
Heritage Financial Corp/WA0.79%
OFG Bancorp0.78%
Ellington Financial Inc0.77%
Adamas Trust Inc0.77%
ePlus Inc0.77%
Merchants Bancorp/IN0.76%
Dime Commercial Bancshares Inc0.75%
Banc of California Inc0.75%
Preferred Bank/Los Angeles CA0.74%
Xenia Hotels & Resorts Inc0.72%
National Vision Holdings Inc0.71%
WSFS Financial Corp0.71%

Weight gaps

All 43 Holdings in both funds, largest gap first.

Holding weights in VYM and XSVM, widest gap first
Holding	More in VYMMore in XSVM	VYM	XSVM
Lincoln National CorpLNC	XSVM +1.75 points	0.03%	1.78%
Signet Jewelers LtdSIG	XSVM +1.17 points	0.02%	1.19%
American Eagle Outfitters IncAEO	XSVM +1.02 points	0.01%	1.03%
Bread Financial Holdings IncBFH	XSVM +1.00 points	0.02%	1.02%
Hope Bancorp IncHOPE	XSVM +0.97 points	<0.01%	0.98%
Radian Group IncRDN	XSVM +0.92 points	0.02%	0.94%
Enact Holdings IncACT	XSVM +0.90 points	<0.01%	0.91%
Jackson Financial IncJXN	XSVM +0.88 points	0.04%	0.92%
Provident Financial Services IncPFS	XSVM +0.84 points	0.01%	0.85%
LCI IndustriesLCII	XSVM +0.83 points	<0.01%	0.84%
Mercury General CorpMCY	XSVM +0.83 points	0.01%	0.84%
United Community Banks Inc/GAUCB	XSVM +0.82 points	0.02%	0.84%
First Interstate BancSystem IncFIBK	XSVM +0.82 points	0.01%	0.83%
First Financial BancorpFFBC	XSVM +0.80 points	0.01%	0.81%
Banner CorpBANR	XSVM +0.79 points	<0.01%	0.80%
Hilltop Holdings IncHTH	XSVM +0.78 points	<0.01%	0.79%
Fulton Financial CorpFULT	XSVM +0.78 points	0.02%	0.80%
Horace Mann Educators CorpHMN	XSVM +0.78 points	<0.01%	0.79%
S&T Bancorp IncSTBA	XSVM +0.77 points	<0.01%	0.78%
Northwest Bancshares IncNWBI	XSVM +0.76 points	<0.01%	0.77%
World Kinect CorpWKC	XSVM +0.76 points	<0.01%	0.77%
Worthington Steel IncWS	XSVM +0.77 points	<0.01%	0.77%
Beacon Financial CorpBBT	XSVM +0.75 points	<0.01%	0.76%
First Commonwealth Financial CorpFCF	XSVM +0.74 points	<0.01%	0.75%
CVB Financial CorpCVBF	XSVM +0.73 points	0.02%	0.75%
Cathay General BancorpCATY	XSVM +0.73 points	0.02%	0.75%
Seacoast Banking Corp of FloridaSBCF	XSVM +0.73 points	0.01%	0.74%
Atlantic Union Bankshares CorpAUB	XSVM +0.73 points	0.02%	0.75%
Independent Bank CorpINDB	XSVM +0.72 points	0.02%	0.74%
Renasant CorpRNST	XSVM +0.72 points	0.01%	0.73%
Trustmark CorpTRMK	XSVM +0.71 points	0.01%	0.72%
Northwest Natural Holding CoNWN	XSVM +0.70 points	<0.01%	0.71%
WaFd IncWAFD	XSVM +0.65 points	<0.01%	0.66%
BankUnited IncBKU	XSVM +0.66 points	0.01%	0.67%
First Hawaiian IncFHB	XSVM +0.65 points	0.01%	0.66%
Advance Auto Parts IncAAP	XSVM +0.64 points	<0.01%	0.65%
Virtu Financial IncVIRT	XSVM +0.62 points	0.02%	0.64%
Avista CorpAVA	XSVM +0.62 points	0.01%	0.63%
Peabody Energy CorpBTU	XSVM +0.62 points	0.01%	0.63%
Kennametal IncKMT	XSVM +0.55 points	<0.01%	0.56%
Trinity Industries IncTRN	XSVM +0.52 points	<0.01%	0.53%
Phinia IncPHIN	XSVM +0.49 points	<0.01%	0.50%
Hub Group IncHUBG	XSVM +0.45 points	<0.01%	0.46%

All 589 VYM holdings⁠All 118 XSVM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

VYM vs XSVM Cost

Overpaying XSVM vs VYM

$6,471

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

VYM 0.04%
$849
XSVM 0.36%
$7,320

Amount$10,000

Years30 years

Cost over time

VYM 0.04%
XSVM 0.36%
Overpaying

Year by year

Year	VYM	XSVM	Overpaying
10	$73	$652	$579
20	$288	$2,522	$2,234
30	$849	$7,320	$6,471

Expense ratio

0.04%VYM, cheaper
0.36%XSVM

VYM0.04%XSVM0.36%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VYM cheapest of 99 funds

XSVM 60th cheapest of 99 funds

VYM vs XSVM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VYM 2.24%, better; XSVM 1.88%
Payout (12M): VYM $3.68; XSVM $1.27
Last payment: VYM $0.89; XSVM $0.41
Ex-dividend: VYM Sep 18, 2026; XSVM Sep 21, 2026
Paid on: VYM Sep 22, 2026; XSVM Sep 25, 2026
Frequency: VYM Quarterly; XSVM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

VYMQuarterly · 39 paymentsAll VYM payments⁠

XSVMQuarterly · 37 paymentsAll XSVM payments⁠

VYM vs XSVM Risk

Fall from peak · 5 years

VYM
XSVM

Risk facts

VolatilityStd dev, 3 years: VYM 11.1%, betterXSVM 19.1%
Return per unit of riskSharpe ratio, 3 years: VYM 1.38, betterXSVM 0.65
Worst fallMax drawdown, 5 years: VYM −15.9%, betterXSVM −26.2%
Market sensitivityBeta, 5 years: VYM 0.75XSVM 0.91; Market = 1

VYM and XSVM in the news

All news⁠

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Updated Nov 2, 2026VYM
Head-to-Head
VTV leads VYM over 10 years. The recent gap is one year
Oct 23, 2026VYM
Best ETFs
Schwab's dividend ETF returned 22.8% in a year. Its income rate still trails a one-month bill.
Updated Oct 2, 2026VYM
Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026VYM

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VYM vs XSVM

In short

Stated mandate

Why people hold it