Vanguard High Dividend Yield Index ETF
ALTAR
Score™
7.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
18.6x P/Sales
ratio
1.7x
P/BV
ratio
2.2x 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 16, 2006
Assets (mns) $26,740
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 396
Wgt avg mkt cap (mns) $135,535
Large cap (>$10bn) 92.6%
Mid cap ($2-10bn) 6.2%
Small cap (<$2bn) 1.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 4.3 %
JPMORGAN CHASE & CO 3.3 %
PROCTER & GAMBLE CO/THE 3.1 %
INTEL CORP 2.9 %
VERIZON COMMUNICATIONS INC 2.6 %
AT&T INC 2.4 %
PFIZER INC 2.3 %
MERCK & CO. INC. 2.2 %
CISCO SYSTEMS INC 2.2 %
EXXON MOBIL CORP 2.1 %
Total 27.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BRITAIN 1.5 %
IRELAND 0.8 %
SWITZERLAND 0.7 %
BERMUDA 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.7% 0.4% 6.1% 11.4% 6.7%

Market Correlations
versus... Beta R-squared
S&P500 0.93 94%
MSCI EAFE 0.96 87%
MSCI Emg. Mkts. 0.71 72%

Technical Indicators
Recent close $82.78
30d moving avg. $77.45
Annualized volatility 16.2%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.2%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 2,024
Turnover 0.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $77,142

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™: 7.1%


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
(%)
SCHV Schwab U.S. Large-Cap Value ETF 68.4 4 2 7.0 -0.1
MGV Vanguard Mega Cap Value ETF 67.3 7 -1 7.0 -0.1
VTV Vanguard Value Index Fund 64.5 4 2 7.2 +0.1
USDY Pacific Global US Equity Income ETF 62.6 29 -23 7.6 +0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 61.7 28 -22 6.3 -0.8
DTD WisdomTree U.S.Total Dividend Fund 60.0 28 -22 6.5 -0.6
OUSA O'Shares FTSE US Quality Dividend ETF 58.8 48 -42 5.6 -1.5
DGRO iShares Core Dividend Growth ETF 58.6 8 -2 6.4 -0.7
IWX iShares Russell Top 200 Value ETF 58.6 20 -14 6.9 -0.2
JKF iShares Morningstar Large Cap Value ETF 56.9 25 -19 7.5 +0.4
SPYV SPDR Portfolio S&P 500 Value ETF 56.5 4 2 7.2 +0.1
IVE iShares S&P 500 Value ETF 56.5 18 -12 7.1 -0.0
VOOV Vanguard S&P 500 Value ETF 55.6 15 -9 7.1 -0.0
RAFE PIMCO RAFI ESG U.S. ETF 55.5 29 -23 7.6 +0.5
IUSV iShares Core S&P U.S. Value ETF 54.6 4 2 7.3 +0.2
IWD iShares Russell 1000 Value ETF 54.1 19 -13 6.9 -0.2
PFM Invesco Dividend Achievers ETF 53.4 54 -48 5.3 -1.8
VONV Vanguard Russell 1000 Value Index Fund 53.4 8 -2 7.0 -0.1
PRF Invesco FTSE RAFI US 1000 ETF 48.8 39 -33 6.7 -0.4
DIVB iShares U.S. Dividend & Buyback ETF 48.1 25 -19 6.4 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.3 25 -19 6.4 -0.7
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 46.8 75 -69 6.0 -1.1
FDRR Fidelity Dividend ETF for Rising Rates 46.3 29 -23 6.9 -0.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.4 25 -19 6.4 -0.7
DEW WisdomTree Global High Dividend Fund 44.1 58 -52 9.0 +1.9
EPS WisdomTree U.S. Earnings 500 Fund 43.3 8 -2 6.4 -0.7
DHS WisdomTree U.S. High Dividend Fund 43.1 38 -32 8.3 +1.2
QDEF FlexShares Quality Dividend Defensive Index Fund 43.1 37 -31 6.2 -0.9
QDF FlexShares Quality Dividend Index Fund 42.9 37 -31 6.8 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 42.7 15 -9 6.2 -0.9
VLU SPDR S&P 1500 Value Tilt ETF 41.4 12 -6 7.0 -0.1
QUS SPDR MSCI USA StrategicFactors ETF 40.7 15 -9 5.8 -1.3
SPXT ProShares S&P 500 Ex-Technology ETF 40.6 27 -21 5.6 -1.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 40.6 29 -23 6.1 -1.0
RNDV US Equity Dividend Select ETF 40.5 50 -44 7.5 +0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 40.2 25 -19 5.9 -1.2
REVS Columbia Research Enhanced Value ETF 39.9 19 -13 7.4 +0.3
JVAL JPMorgan U.S. Value Factor ETF 39.7 12 -6 8.6 +1.5
DYNF BlackRock U.S. Equity Factor Rotation ETF 39.3 30 -24 6.6 -0.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 38.6 38 -32 7.7 +0.6
IUS Invesco Strategic US ETF 38.6 19 -13 6.1 -1.0
HDV iShares Core High Dividend ETF 38.4 8 -2 6.4 -0.7
PWV Invesco Dynamic Large Cap Value ETF 38.1 55 -49 8.1 +1.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 37.8 12 -6 4.8 -2.3
DURA VanEck Vectors Morningstar Durable Dividend ETF 37.7 29 -23 6.8 -0.3
RECS Columbia Research Enhanced Core ETF 37.7 15 -9 5.6 -1.5
PBP Invesco S&P 500 BuyWrite ETF 37.5 49 -43 5.1 -2.0
OEF iShares S&P 100 ETF 37.4 20 -14 4.9 -2.2
ESG FlexShares STOXX US ESG Impact Index Fund 37.2 32 -26 5.1 -2.0
QDYN FlexShares Quality Dividend Dynamic Index Fund 37.2 37 -31 6.7 -0.4
JDIV JPMorgan U.S. Dividend ETF 36.7 12 -6 7.8 +0.7
ROUS Hartford Multifactor US Equity ETF 36.7 19 -13 7.1 -0.0
NULV Nuveen ESG Large-Cap Value ETF 36.7 35 -29 7.3 +0.2
SUSL iShares ESG MSCI USA Leaders ETF 36.6 10 -4 5.4 -1.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 36.6 10 -4 5.4 -1.7
FDVV Fidelity Core Dividend ETF 36.5 29 -23 7.2 +0.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 36.5 28 -22 6.5 -0.6
HSPX Global X S&P 500 Covered Call ETF 36.5 65 -59 4.9 -2.2
RWL Invesco S&P 500 Revenue ETF 36.3 39 -33 6.7 -0.4
DJD Invesco Dow Jones Industrial Average Dividend ETF 36.1 7 -1 6.5 -0.6
SCHD Schwab U.S. Dividend Equity ETF 36.1 6 0 7.3 +0.2
IWL iShares Russell Top 200 ETF 35.9 15 -9 5.1 -2.0
MGC Vanguard Mega Cap Index Fund 35.7 7 -1 5.3 -1.8
JQUA JPMorgan U.S. Quality Factor ETF 35.6 12 -6 5.2 -1.9
HLAL Wahed FTSE USA Shariah ETF 35.5 50 -44 4.6 -2.5
CCOR Core Alternative ETF 35.5 123 -117 4.3 -2.8
FVAL Fidelity Value Factor ETF 34.9 29 -23 8.0 +0.9
EDOW First Trust Dow 30 Equal Weight ETF 34.8 50 -44 5.7 -1.4
SNPE Xtrackers S&P 500 ESG ETF 34.7 11 -5 5.2 -1.9
SPLG SPDR Portfolio Large Cap ETF 34.5 3 3 5.5 -1.6
IVV iShares Core S&P 500 ETF 34.5 4 2 5.4 -1.7
SPY SPDR S&P 500 ETF Trust 34.5 9 -3 5.4 -1.7
NACP Impact Shares NAACP Minority Empowerment ETF 34.4 75 -69 4.5 -2.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.2 20 -14 5.0 -2.1
VOO VANGUARD S&P 500 ETF 34.2 3 3 5.5 -1.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 33.9 20 -14 5.4 -1.7
SPXN ProShares S&P 500 Ex-Financials ETF 33.9 27 -21 5.1 -2.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 33.7 19 -13 5.6 -1.5
STLV iShares Factors US Value Style ETF 33.5 25 -19 7.8 +0.7
PBUS Invesco PureBeta MSCI USA ETF 33.5 4 2 5.3 -1.8
XLG Invesco S&P 500 Top 50 ETF 33.5 20 -14 4.7 -2.4
WOMN Impact Shares YWCA Women's Empowerment ETF 33.4 75 -69 4.5 -2.6
VV Vanguard Large-Cap Index Fund 33.4 4 2 5.3 -1.8
SPXV ProShares S&P 500 Ex-Health Care ETF 33.3 27 -21 5.1 -2.0
SPXE ProShares S&P 500 Ex-Energy ETF 33.2 27 -21 5.4 -1.7
DSI iShares MSCI KLD 400 Social ETF 33.1 25 -19 5.2 -1.9
SPTM SPDR Portfolio Total Stock Market ETF 33.1 3 3 5.5 -1.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 32.9 2 4 5.4 -1.7
ESGU iShares MSCI USA ESG Optimized ETF 32.9 15 -9 5.1 -2.0
JHML John Hancock Multifactor Large Cap ETF 32.9 34 -28 5.5 -1.6
FVD First Trust Value Line Dividend Index Fund 32.7 70 -64 6.0 -1.1
SCHX Schwab U.S. Large-Cap ETF 32.6 3 3 5.3 -1.8
USMV iShares Edge MSCI Min Vol USA ETF 32.3 15 -9 5.6 -1.5
IWB iShares Russell 1000 ETF 32.2 15 -9 5.2 -1.9
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 32.2 35 -29 8.2 +1.1
AVUS Avantis U.S. Equity ETF 32.2 15 -9 5.7 -1.4
SCHK Schwab 1000 Index ETF 32.0 5 1 5.3 -1.8
CATH Global X S&P 500 Catholic Values Custom ETF 31.9 29 -23 5.3 -1.8
IYY iShares Dow Jones U.S. ETF 31.9 20 -14 5.2 -1.9
VONE Vanguard Russell 1000 ETF 31.8 8 -2 5.3 -1.8

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 15.4 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.53
 
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.