Vanguard High Dividend Yield Index ETF
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
17.3x P/Sales
ratio
1.7x
P/BV
ratio
2.1x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Vanguard High Dividend Yield ETF seeks to track the performance of the FTSE High Dividend Yield Index, which consists of common stocks of companies that pay dividends that generally are higher than average.

FUND BASICS
Category US Equities
Fund Sponsor Vanguard Group Inc/The
Website www.vanguard.com
Inception date Nov 10, 2006
Assets (mns) $27,020
Currency USD
Expense ratio 6 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 416
Wgt avg mkt cap (mns) $136,378
Large cap (>$10bn) 92.8%
Mid cap ($2-10bn) 6.1%
Small cap (<$2bn) 1.2%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 3.8 %
PROCTER & GAMBLE CO/THE 3.4 %
JPMORGAN CHASE & CO 3.1 %
VERIZON COMMUNICATIONS INC 2.4 %
PFIZER INC 2.1 %
INTEL CORP 2.0 %
COMCAST CORP-CL A 2.0 %
MERCK & CO. INC. 2.0 %
WAL-MART STORES INC 2.0 %
AT&T INC 1.9 %
Total 24.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BRITAIN 1.6 %
IRELAND 0.9 %
SWITZERLAND 0.7 %
BERMUDA 0.2 %
PERU 0.1 %
PUERTO RICO 0.1 %
CANADA 0.0 %
HONG KONG 0.0 %
MONACO 0.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.3% -5.5% 8.7% 11.0% 6.7%

Market Correlations
versus... Beta R-squared
S&P500 0.89 93%
MSCI EAFE 0.94 84%
MSCI Emg. Mkts. 0.67 69%

Technical Indicators
Recent close $82.36
30d moving avg. $82.27
Annualized volatility 16.4%
Short interest (ETF) 0.3%
Short interest (Underlying) 2.2%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 1,882
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $58,270

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Vanguard High Dividend Yield Index ETF ETF based on the alternatives' overlap in portfolio holdings with VYM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: VYM Expense: 6 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH VYM
Ticker Fund
Name
Overlap1
vs VYM
(%)
Expense
ratio
(bp)
Savings
vs VYM
(bp)
ALTAR
Score™
(%)
ALTAR
vs VYM
(%)
MGV Vanguard Mega Cap Value ETF 69.8 7 -1 7.2 -0.2
USDY Pacific Global US Equity Income ETF 68.5 29 -23 7.0 -0.4
VTV Vanguard Value Index Fund 65.2 4 2 7.3 -0.1
DGRO iShares Core Dividend Growth ETF 63.8 8 -2 6.6 -0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 62.2 28 -22 6.4 -1.0
DTD WisdomTree U.S.Total Dividend Fund 61.3 28 -22 6.6 -0.8
VOOV Vanguard S&P 500 Value ETF 60.0 10 -4 7.2 -0.2
IWX iShares Russell Top 200 Value ETF 59.0 20 -14 6.7 -0.7
SPYV SPDR Portfolio S&P 500 Value ETF 57.0 4 2 7.3 -0.1
IVE iShares S&P 500 Value ETF 57.0 18 -12 7.1 -0.3
SCHV Schwab U.S. Large-Cap Value ETF 55.8 4 2 6.8 -0.6
IUSV iShares Core S&P U.S. Value ETF 55.5 4 2 7.4 -0.1
PFM Invesco Dividend Achievers ETF 54.9 53 -47 5.3 -2.1
JKF iShares Morningstar Large Cap Value ETF 53.8 25 -19 7.7 +0.3
OUSA O'Shares FTSE US Quality Dividend ETF 53.5 48 -42 5.8 -1.6
RAFE PIMCO RAFI ESG U.S. ETF 51.9 29 -23 7.6 +0.2
DIVB iShares U.S. Dividend & Buyback ETF 51.6 25 -19 6.8 -0.6
VONV Vanguard Russell 1000 Value Index Fund 50.7 8 -2 6.9 -0.5
IWD iShares Russell 1000 Value ETF 50.5 19 -13 6.8 -0.6
PRF Invesco FTSE RAFI US 1000 ETF 48.2 39 -33 6.7 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.2 25 -19 6.6 -0.8
FDRR Fidelity Dividend ETF for Rising Rates 47.0 29 -23 6.7 -0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.2 25 -19 6.7 -0.7
RNDV US Equity Dividend Select ETF 44.6 50 -44 7.8 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 43.7 8 -2 6.3 -1.1
EQWL Invesco Russell Top 200 Equal Weight ETF 42.5 25 -19 6.2 -1.2
VLU SPDR S&P 1500 Value Tilt ETF 42.2 12 -6 7.3 -0.1
DEW WisdomTree Global High Dividend Fund 42.1 58 -52 9.7 +2.3
QUS SPDR MSCI USA StrategicFactors ETF 41.2 15 -9 5.8 -1.7
QDEF FlexShares Quality Dividend Defensive Index Fund 40.6 37 -31 5.9 -1.5
SPXT ProShares S&P 500 Ex-Technology ETF 40.1 27 -21 5.5 -2.0
DHS WisdomTree U.S. High Dividend Fund 40.0 38 -32 8.7 +1.3
JVAL JPMorgan U.S. Value Factor ETF 38.7 12 -6 8.3 +0.9
FLQL Franklin LibertyQ U.S. Equity ETF 38.6 15 -9 6.1 -1.3
ESG FlexShares STOXX US ESG Impact Index Fund 38.3 32 -26 5.0 -2.4
RWL Invesco S&P 500 Revenue ETF 38.1 39 -33 7.1 -0.3
PWV Invesco Dynamic Large Cap Value ETF 38.1 56 -50 8.2 +0.8
HDV iShares Core High Dividend ETF 38.1 8 -2 7.2 -0.2
DGRW WisdomTree U.S. Quality Dividend Growth Fund 37.8 28 -22 6.4 -1.0
DTN WisdomTree U.S. Dividend ex-Financials Fund 37.7 38 -32 8.0 +0.6
QDF FlexShares Quality Dividend Index Fund 37.5 37 -31 5.9 -1.5
NACP Impact Shares NAACP Minority Empowerment ETF 37.3 75 -69 4.7 -2.7
IUS Invesco Strategic US ETF 37.3 19 -13 6.4 -1.0
REVS Columbia Research Enhanced Value ETF 37.1 19 -13 7.7 +0.3
FDVV Fidelity Core Dividend ETF 36.9 29 -23 7.0 -0.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 36.5 10 -4 5.2 -2.2
SUSL iShares ESG MSCI USA Leaders ETF 36.5 10 -4 5.2 -2.2
VIG Vanguard Dividend Appreciation Index Fund 36.1 6 0 5.2 -2.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 36.0 35 -29 8.7 +1.3
QDYN FlexShares Quality Dividend Dynamic Index Fund 35.4 37 -31 6.0 -1.4
RECS Columbia Research Enhanced Core ETF 35.3 15 -9 5.5 -1.9
NULV Nuveen ESG Large-Cap Value ETF 35.3 35 -29 7.2 -0.2
OEF iShares S&P 100 ETF 35.3 20 -14 4.7 -2.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 35.3 12 -6 4.7 -2.7
HSPX Global X S&P 500 Covered Call ETF 35.0 60 -54 4.8 -2.6
SPQQ Siren Large Cap Blend Index ETF 34.7 20 -14 4.8 -2.6
HLAL Wahed FTSE USA Shariah ETF 34.6 50 -44 4.4 -3.0
FVD First Trust Value Line Dividend Index Fund 34.3 70 -64 6.1 -1.3
ROUS Hartford Multifactor US Equity ETF 34.1 19 -13 6.4 -1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 34.0 29 -23 5.9 -1.5
CCOR Core Alternative ETF 33.9 109 -103 4.6 -2.8
PBP Invesco S&P 500 BuyWrite ETF 33.8 49 -43 4.8 -2.6
XYLG Global X S&P 500 Covered Call & Growth ETF 33.7 60 -54 4.9 -2.5
JQUA JPMorgan U.S. Quality Factor ETF 33.4 12 -6 5.3 -2.1
MGC Vanguard Mega Cap Index Fund 33.4 7 -1 5.0 -2.4
SPLG SPDR Portfolio Large Cap ETF 33.3 3 3 5.2 -2.2
SPY SPDR S&P 500 ETF Trust 33.3 9 -3 5.2 -2.2
IVV iShares Core S&P 500 ETF 33.2 3 3 5.2 -2.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 33.2 30 -24 6.5 -0.9
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 33.2 20 -14 4.8 -2.6
JHML John Hancock Multifactor Large Cap ETF 32.9 29 -23 5.4 -2.0
JDIV JPMorgan U.S. Dividend ETF 32.8 12 -6 7.7 +0.3
FLLV Franklin Liberty U.S. Low Volatility ETF 32.8 29 -23 5.4 -2.0
SCIU Global X Scientific Beta US ETF 32.8 19 -13 0.0 -7.4
IWL iShares Russell Top 200 ETF 32.7 15 -9 4.8 -2.6
VOO VANGUARD S&P 500 ETF 32.7 3 3 5.3 -2.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 32.6 20 -14 5.2 -2.2
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 32.5 35 -29 8.8 +1.4
EFIV SPDR S&P 500 ESG ETF 32.4 10 -4 5.0 -2.5
SNPE Xtrackers S&P 500 ESG ETF 32.4 10 -4 4.9 -2.5
SPXV ProShares S&P 500 Ex-Health Care ETF 32.4 27 -21 4.9 -2.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.3 19 -13 6.0 -1.5
GBLO Global Beta Low Beta ETF 32.3 29 -23 7.3 -0.1
SPTM SPDR Portfolio Total Stock Market ETF 32.1 3 3 5.4 -2.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 32.0 7 -1 5.1 -2.4
BKLC BNY Mellon US Large Cap Core Equity ETF 32.0 0 6 5.0 -2.4
AVUS Avantis U.S. Equity ETF 31.9 15 -9 5.5 -1.9
SPXE ProShares S&P 500 Ex-Energy ETF 31.9 27 -21 5.1 -2.3
USMV iShares Edge MSCI Min Vol USA ETF 31.6 15 -9 5.5 -1.9
ESGU iShares MSCI USA ESG Optimized ETF 31.6 15 -9 4.9 -2.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 31.5 2 4 5.1 -2.3
PBUS Invesco PureBeta MSCI USA ETF 31.4 4 2 5.1 -2.3
SPXN ProShares S&P 500 Ex-Financials ETF 31.1 27 -21 4.8 -2.6
VV Vanguard Large-Cap Index Fund 31.0 4 2 5.1 -2.4
DVY iShares Select Dividend ETF 30.9 39 -33 9.2 +1.8
DURA VanEck Vectors Morningstar Durable Dividend ETF 30.9 29 -23 8.5 +1.1
FTA First Trust Large Cap Value AlphaDEX Fund 30.8 60 -54 9.0 +1.6
DSI iShares MSCI KLD 400 Social ETF 30.8 25 -19 5.0 -2.4
XLG Invesco S&P 500 Top 50 ETF 30.8 20 -14 4.4 -3.0
FQAL Fidelity Quality Factor ETF 30.8 29 -23 5.4 -2.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Vanguard High Dividend Yield Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.7 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.51
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.