VHY and IHD overlap by about 55%: there is a fair amount of double-up. IHD is cheaper (0.23% vs 0.25% a year), about $20 a year less on $100,000. VHY is the bigger fund ($8.2b vs $407m). Both aim for higher dividends from ASX companies. IHD follows an S&P dividend index with ESG screens, which leave out some companies VHY can hold.
📅 As at 30 September 2026: fees, size, flows and returns from the TMX Australia funds report; overlap from published holdings as at 30 September 2026.
VHY
Vanguard Australian Shares High Yield ETFVHY invests in ASX-listed companies with higher forecast dividends, excluding property trusts.
IHD
iShares S&P/ASX Div Opportunities Esg Screened ETFIHD invests in ASX companies with higher dividend yields, after ESG screens remove some companies and industries.
VHY vs IHD side by side
Green marks the cheaper, bigger or better-performing fund on each line. Past returns are not a reliable guide to the future.
| VHY | IHD | |
|---|---|---|
| Issuer | Vanguard | iShares |
| Index | FTSE ASFA Australia High Dividend Yield Index | S&P/ASX Dividend Opportunities ESG Screened Index |
| Fee (a year) | 0.25% | 0.23% |
| Size | $8.2b | $407m |
| Net money in, September | +$144m | +$5m |
| 1-year return | +12.0% | +8.8% |
| 5-year return | +62% | +53% |
| Listed | 2011 | 2010 |
| Top 10 holdings | 62% of fund | 76% of fund |
| Trend now | Base | Downtrend |
How much do VHY and IHD overlap?
About 55% of their holdings are the same, by weight: medium overlap, so there is a fair amount of double-up.
The biggest companies they both own
| Company | VHY | IHD |
|---|---|---|
| BHP Group LtdMaterials | 9.7% | 9.7% |
| National Australia Bank LtdFinancials | 6.4% | 10.0% |
| Westpac Banking CorpFinancials | 6.3% | 9.6% |
| ANZ Group Holdings LtdFinancials | 6.1% | 10.8% |
| Rio Tinto LtdMaterials | 5.5% | 9.1% |
| Telstra Group LtdCommunication Services | 4.8% | 6.0% |
| Transurban GroupIndustrials | 3.6% | 8.2% |
| Fortescue LtdMaterials | 2.3% | 4.6% |
| QBE Insurance Group LtdFinancials | 1.8% | 4.9% |
| Suncorp Group LtdFinancials | 1.1% | 3.0% |
Only in VHY
- Commonwealth Bank of Australia 9.1%
- Woodside Energy Group Ltd 5.3%
- Macquarie Group Ltd 4.5%
- CSL Ltd 3.9%
- Coles Group Ltd 2.8%
Only in IHD
- No holdings above 0.5%: the differences are all small positions.
Sectors and countries
Sectors
Countries
Trend: base, uptrend or downtrend?
Past year of prices, shaded by trend stage. The dashed line is the 200-day exponential average. As at 4 November 2026. How base and trend works.
VHY or IHD: which suits who?
Where either fits depends on the rest of your portfolio: whether it’s your core or a satellite. See core and satellite investing and our full profiles of VHY.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
VHY vs IHD FAQs
Is VHY or IHD better?
Neither is better for everyone. Both aim for higher dividends from ASX companies. IHD follows an S&P dividend index with ESG screens, which leave out some companies VHY can hold. Choose VHY if you want the bigger fund and a dividend strategy without ESG screens. Choose IHD if you want a dividend focus with ESG screening built in.
What is the difference between VHY and IHD?
VHY and IHD overlap by about 55%: there is a fair amount of double-up. IHD is cheaper (0.23% vs 0.25% a year), about $20 a year less on $100,000. VHY is the bigger fund ($8.2b vs $407m). Both aim for higher dividends from ASX companies. IHD follows an S&P dividend index with ESG screens, which leave out some companies VHY can hold.
Should I own both VHY and IHD?
You can, but check the double-up: about 55% of their holdings are the same. Use the overlap calculator to see how they fit with your other ETFs.
Which is cheaper, VHY or IHD?
IHD is cheaper (0.23% vs 0.25% a year), about $20 a year less on $100,000. Fees are taken from the fund’s returns, not charged separately.
Fees, size, flows and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns and the 5-year figure is cumulative. Overlap, sectors and countries are based on each fund’s published holdings, scaled to the part of each fund we can see. Trend stages are a technical indicator based on 10, 20, 50 and 200-day exponential moving averages; they describe the past, not the future. General information only, not a recommendation to buy or sell VHY or IHD. Consider the PDS and TMD, and your own circumstances, before investing.