Vanguard High Dividend Yield Index ETF
ALTAR
Score™
6.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
18.8x P/Sales
ratio
2.0x
P/BV
ratio
2.4x Div.
yield
3.1%


  • 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) $32,168
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 412
Wgt avg mkt cap (mns) $150,145
Large cap (>$10bn) 92.9%
Mid cap ($2-10bn) 6.4%
Small cap (<$2bn) 0.8%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
JOHNSON & JOHNSON 3.9 %
JPMORGAN CHASE & CO 3.7 %
PROCTER & GAMBLE CO/THE 2.9 %
BANK OF AMERICA CORP 2.2 %
VERIZON COMMUNICATIONS INC 2.2 %
INTEL CORP 2.1 %
COMCAST CORP-CL A 2.0 %
AT&T INC 1.9 %
MERCK & CO. INC. 1.9 %
WAL-MART STORES INC 1.9 %
Total 24.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.8 %
BRITAIN 1.6 %
IRELAND 0.9 %
SWITZERLAND 0.8 %
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 December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.2% 1.2% 10.0% 11.5% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 0.92 93%
MSCI EAFE 0.89 86%
MSCI Emg. Mkts. 0.70 69%

Technical Indicators
Recent close $94.06
30d moving avg. $92.58
Annualized volatility 17.8%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.2%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 1,802
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $71,573

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 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™: 6.7%


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 73.0 7 -1 6.5 -0.2
VTV Vanguard Value Index Fund 65.9 4 2 6.6 -0.1
VOOV Vanguard S&P 500 Value ETF 64.3 10 -4 6.6 -0.0
JKF iShares Morningstar Large Cap Value ETF 62.9 25 -19 6.7 +0.0
DGRO iShares Core Dividend Growth ETF 62.5 8 -2 6.0 -0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 59.9 28 -22 6.1 -0.5
DTD WisdomTree U.S.Total Dividend Fund 59.6 28 -22 6.2 -0.4
IWX iShares Russell Top 200 Value ETF 59.0 20 -14 6.1 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 55.3 4 2 6.1 -0.6
PFM Invesco Dividend Achievers ETF 54.9 53 -47 5.0 -1.6
SPYV SPDR Portfolio S&P 500 Value ETF 54.5 4 2 6.5 -0.2
IVE iShares S&P 500 Value ETF 54.4 18 -12 6.3 -0.3
DIVB iShares U.S. Dividend & Buyback ETF 53.3 25 -19 5.9 -0.7
IUSV iShares Core S&P U.S. Value ETF 52.9 4 2 6.5 -0.2
VONV Vanguard Russell 1000 Value Index Fund 52.6 8 -2 6.2 -0.5
IWD iShares Russell 1000 Value ETF 50.0 19 -13 6.1 -0.6
RAFE PIMCO RAFI ESG U.S. ETF 49.0 30 -24 6.7 +0.1
PRF Invesco FTSE RAFI US 1000 ETF 47.9 39 -33 5.7 -0.9
FDRR Fidelity Dividend ETF for Rising Rates 47.5 29 -23 5.9 -0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.4 25 -19 5.7 -0.9
RNDV US Equity Dividend Select ETF 46.1 50 -44 7.3 +0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.3 25 -19 5.7 -1.0
DGRW WisdomTree U.S. Quality Dividend Growth Fund 44.6 28 -22 6.0 -0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 43.9 25 -19 5.6 -1.0
OUSA O'Shares FTSE US Quality Dividend ETF 43.8 48 -42 5.5 -1.2
EPS WisdomTree U.S. Earnings 500 Fund 43.2 8 -2 5.9 -0.7
VLU SPDR S&P 1500 Value Tilt ETF 42.8 12 -6 6.2 -0.5
QUS SPDR MSCI USA StrategicFactors ETF 42.1 15 -9 5.3 -1.4
FLQL Franklin LibertyQ U.S. Equity ETF 40.4 15 -9 5.9 -0.7
HDV iShares Core High Dividend ETF 40.0 8 -2 6.3 -0.3
JVAL JPMorgan U.S. Value Factor ETF 39.7 12 -6 7.1 +0.5
SPXT ProShares S&P 500 Ex-Technology ETF 39.3 27 -21 4.9 -1.8
RWL Invesco S&P 500 Revenue ETF 38.9 39 -33 6.3 -0.4
NACP Impact Shares NAACP Minority Empowerment ETF 38.6 49 -43 4.7 -2.0
ESGV Vanguard ESG U.S. Stock ETF 38.5 12 -6 4.5 -2.2
ESG FlexShares STOXX US ESG Impact Index Fund 38.4 32 -26 4.5 -2.2
PWV Invesco Dynamic Large Cap Value ETF 38.3 56 -50 6.9 +0.2
FDVV Fidelity Core Dividend ETF 37.7 29 -23 6.1 -0.6
SIXA 6 Meridian Mega Cap Equity ETF 37.2 82 -76 5.8 -0.8
QDF FlexShares Quality Dividend Index Fund 37.0 37 -31 5.5 -1.2
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 36.7 35 -29 7.7 +1.0
IUS Invesco Strategic US ETF 36.6 19 -13 5.5 -1.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 36.5 35 -29 7.7 +1.0
QDEF FlexShares Quality Dividend Defensive Index Fund 36.4 37 -31 5.4 -1.2
VFVA Vanguard U.S. Value Factor ETF 36.1 14 -8 8.5 +1.8
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 35.9 75 -69 5.3 -1.3
REVS Columbia Research Enhanced Value ETF 35.7 19 -13 6.7 +0.1
SPQQ Siren Large Cap Blend Index ETF 35.6 20 -14 4.2 -2.4
VIG Vanguard Dividend Appreciation Index Fund 35.5 6 0 5.0 -1.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 35.4 37 -31 5.3 -1.4
NULV Nuveen ESG Large-Cap Value ETF 35.2 35 -29 6.1 -0.6
DEW WisdomTree Global High Dividend Fund 35.2 58 -52 8.7 +2.1
DTN WisdomTree U.S. Dividend ex-Financials Fund 34.8 38 -32 7.5 +0.8
OEF iShares S&P 100 ETF 34.8 20 -14 4.2 -2.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 34.7 20 -14 4.6 -2.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 34.6 10 -4 4.8 -1.8
SUSL iShares ESG MSCI USA Leaders ETF 34.6 10 -4 4.8 -1.8
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 34.5 30 -24 5.1 -1.6
ROUS Hartford Multifactor US Equity ETF 34.4 19 -13 5.8 -0.8
CCOR Core Alternative ETF 34.2 109 -103 4.2 -2.5
PBP Invesco S&P 500 BuyWrite ETF 34.0 49 -43 4.3 -2.4
MGC Vanguard Mega Cap Index Fund 33.7 7 -1 4.6 -2.1
FLLV Franklin Liberty U.S. Low Volatility ETF 33.6 29 -23 4.9 -1.7
XYLG Global X S&P 500 Covered Call & Growth ETF 33.6 60 -54 4.4 -2.3
JCTR JPMorgan Carbon Transition U.S. Equity ETF 33.6 15 -9 4.7 -2.0
HLAL Wahed FTSE USA Shariah ETF 33.5 50 -44 3.8 -2.9
EFIV SPDR S&P 500 ESG ETF 33.2 10 -4 4.6 -2.1
SNPE Xtrackers S&P 500 ESG ETF 33.2 10 -4 4.6 -2.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 33.2 12 -6 4.9 -1.7
JQUA JPMorgan U.S. Quality Factor ETF 33.2 12 -6 5.1 -1.6
SPY SPDR S&P 500 ETF Trust 32.9 9 -3 4.7 -2.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.9 19 -13 5.3 -1.4
FVL First Trust Value Line 100 ETF 32.9 70 -64 0.0 -6.7
IVV iShares Core S&P 500 ETF 32.9 3 3 4.7 -1.9
SPLG SPDR Portfolio Large Cap ETF 32.9 3 3 4.7 -1.9
JHML John Hancock Multifactor Large Cap ETF 32.8 29 -23 4.9 -1.8
IWL iShares Russell Top 200 ETF 32.8 15 -9 4.4 -2.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 32.7 20 -14 4.8 -1.9
FVD First Trust Value Line Dividend Index Fund 32.6 70 -64 5.8 -0.9
GBLO Global Beta Low Beta ETF 32.5 29 -23 7.2 +0.6
JDIV JPMorgan U.S. Dividend ETF 32.3 12 -6 6.7 +0.1
VOO VANGUARD S&P 500 ETF 32.2 3 3 4.8 -1.9
RECS Columbia Research Enhanced Core ETF 32.2 15 -9 5.1 -1.6
AVUS Avantis U.S. Equity ETF 31.6 15 -9 4.8 -1.8
SPXV ProShares S&P 500 Ex-Health Care ETF 31.6 27 -21 4.3 -2.4
SPTM SPDR Portfolio Total Stock Market ETF 31.6 3 3 4.8 -1.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 31.5 7 -1 4.5 -2.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 31.4 15 -9 0.0 -6.7
BKLC BNY Mellon US Large Cap Core Equity ETF 31.3 0 6 4.4 -2.2
XLG Invesco S&P 500 Top 50 ETF 31.3 20 -14 4.0 -2.6
DFAU Dimensional US Core Equity Market ETF 31.2 12 -6 4.7 -2.0
SPXE ProShares S&P 500 Ex-Energy ETF 31.1 27 -21 4.6 -2.1
ESGU iShares MSCI USA ESG Optimized ETF 31.1 15 -9 4.4 -2.3
PBUS Invesco PureBeta MSCI USA ETF 31.0 4 2 4.6 -2.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 31.0 2 4 4.6 -2.0
VV Vanguard Large-Cap Index Fund 31.0 4 2 4.6 -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 14.8 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 6.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.49
 
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.