VHY and SYI overlap by about 50%: there is a fair amount of double-up. SYI is cheaper (0.20% vs 0.25% a year), about $50 a year less on $100,000. VHY is the bigger fund ($8.2b vs $739m). Both pick ASX companies expected to pay higher dividends, using different index rules. SYI’s MSCI index also screens for how sustainable and high-quality each company’s dividend is.
📅 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.
SYI
State Str SPDR MSCI Aus Select High Div Yield ETFSYI invests in ASX companies with higher dividend yields that also pass MSCI’s screens for dividend sustainability and quality.
VHY vs SYI 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 | SYI | |
|---|---|---|
| Issuer | Vanguard | State Street |
| Index | FTSE ASFA Australia High Dividend Yield Index | MSCI Australia Select High Dividend Yield Index |
| Fee (a year) | 0.25% | 0.20% |
| Size | $8.2b | $739m |
| Net money in, September | +$144m | +$8m |
| 1-year return | +12.0% | +14.8% |
| 5-year return | +62% | +57% |
| Listed | 2011 | 2010 |
| Top 10 holdings | 62% of fund | 69% of fund |
| Trend now | Base | Uptrend |
How much do VHY and SYI overlap?
About 50% 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 | SYI |
|---|---|---|
| National Australia Bank LtdFinancials | 6.4% | 9.9% |
| Westpac Banking CorpFinancials | 6.3% | 8.9% |
| ANZ Group Holdings LtdFinancials | 6.1% | 10.2% |
| Telstra Group LtdCommunication Services | 4.8% | 7.4% |
| CSL LtdHealth Care | 3.9% | 13.0% |
| Coles Group LtdConsumer Staples | 2.8% | 3.9% |
| Santos LtdEnergy | 2.5% | 4.0% |
| QBE Insurance Group LtdFinancials | 1.8% | 5.3% |
| Origin Energy LtdUtilities | 1.6% | 2.8% |
| Qantas Airways LtdIndustrials | 1.2% | 1.7% |
Only in VHY
- BHP Group Ltd 9.7%
- Commonwealth Bank of Australia 9.1%
- Rio Tinto Ltd 5.5%
- Woodside Energy Group Ltd 5.3%
- Macquarie Group Ltd 4.5%
Only in SYI
- Computershare Ltd 3.0%
- Treasury Wine Estates Ltd 0.6%
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 SYI: 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 SYI FAQs
Is VHY or SYI better?
Neither is better for everyone. Both pick ASX companies expected to pay higher dividends, using different index rules. SYI’s MSCI index also screens for how sustainable and high-quality each company’s dividend is. Choose VHY if you want the largest Australian dividend ETF on the ASX. Choose SYI if you want a slightly lower fee and a dividend screen that also looks at quality.
What is the difference between VHY and SYI?
VHY and SYI overlap by about 50%: there is a fair amount of double-up. SYI is cheaper (0.20% vs 0.25% a year), about $50 a year less on $100,000. VHY is the bigger fund ($8.2b vs $739m). Both pick ASX companies expected to pay higher dividends, using different index rules. SYI’s MSCI index also screens for how sustainable and high-quality each company’s dividend is.
Should I own both VHY and SYI?
You can, but check the double-up: about 50% of their holdings are the same. Use the overlap calculator to see how they fit with your other ETFs.
Which is cheaper, VHY or SYI?
SYI is cheaper (0.20% vs 0.25% a year), about $50 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 SYI. Consider the PDS and TMD, and your own circumstances, before investing.