VHY invests in ASX-listed companies with higher forecast dividends, excluding property trusts. It charges 0.25% a year, has $8.2b invested and returned +12.0% over the past year. The most similar ETF is SFY, which overlaps with it by about 70%.
📅 As at 30 September 2026: fee, size and 1-year return from the TMX Australia funds report; holdings and overlap from VHY’s published holdings as at 30 September 2026.
Is it a good time to buy VHY?
Nobody can time the market perfectly, but you can check the trend before you buy. Here’s where VHY stands right now.
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| Net flow, September | +$144m |
| Net flow, 2026 so far | +$1.4b |
| Average month in 2026 | +$155m |
Is the whole market risk on, caution or risk off this week? Members see it every Sunday, with the core ETF check-up.
🔒 See it free for 30 days →VHY is in a base. Prices moving sideways can be a time to build a position gradually and watch which way the trend breaks. There’s no rush either way.
General information only, not a recommendation to buy or sell VHY. Whether it suits you depends on your goals and the rest of your portfolio. Trend updated weekly; flows from the TMX Australia funds report (September 2026) and the Global X weekly market monitor. See every ETF’s trend in the ETF trend scanner, or read when to buy an ETF.
What is VHY?
Index: FTSE ASFA Australia High Dividend Yield Index · Distributions: Quarterly · Issuer: Vanguard · Exchange: ASX
Top 10 holdings
The 10 largest companies make up 62% of VHY.
| # | Company | Weight | |
|---|---|---|---|
| 1 | BHP Group LtdMaterials | 9.72% | |
| 2 | Commonwealth Bank of AustraliaFinancials | 9.11% | |
| 3 | National Australia Bank LtdFinancials | 6.42% | |
| 4 | Westpac Banking CorpFinancials | 6.30% | |
| 5 | ANZ Group Holdings LtdFinancials | 6.08% | |
| 6 | Rio Tinto LtdMaterials | 5.45% | |
| 7 | Woodside Energy Group LtdEnergy | 5.32% | |
| 8 | Telstra Group LtdCommunication Services | 4.75% | |
| 9 | Macquarie Group LtdFinancials | 4.53% | |
| 10 | CSL LtdHealth Care | 3.89% |
Sector breakdown
ETFs most similar to VHY
How much each ETF’s holdings overlap with VHY, by weight. High overlap means owning both mostly doubles up.
| ETF | Overlap | |
|---|---|---|
| SFYSPDR S&P/ASX 50 ETF | 70% | Compare in calculator → |
| QOZBetashares Australia 200 Fundamental Value ETF | 69% | Compare in calculator → |
| A300Global X Australia 300 ETF | 68% | Compare in calculator → |
| A200Betashares Australia 200 ETF | 68% | Compare in calculator → |
| IOZiShares Core S&P/ASX 200 ETF | 67% | Compare in calculator → |
| AYLDGlobal X S&P/ASX 200 Covered Call Complex ETF | 67% | Compare in calculator → |
Head to head: VAS vs VHY · all comparisons
Check VHY against your own ETFs →Core or satellite?
SATELLITE Income & dividends
VHY is a satellite: an income tilt within Australian shares. It overlaps a lot with VAS and A200. In our approach, satellites are bought when they break out of a base into an uptrend, kept to a small slice of the portfolio, and sold with a stop loss. Read more in core and satellite investing.
Read more: Franking credits and ETFs · ETFs for retirement · Best ETFs for SMSFs
VHY FAQs
Is VHY a good ETF?
VHY is one of the largest income ETFs in Australia, with a long track record and a moderate fee. It suits investors focused on income, but it is concentrated in a few sectors. Whether it suits you depends on your goals and the rest of your portfolio.
What does VHY invest in?
VHY invests in ASX-listed companies with higher forecast dividends, excluding property trusts. Its largest holdings are BHP Group Ltd, Commonwealth Bank of Australia, National Australia Bank Ltd, and its biggest sector is financials at about 39%.
What ETFs are similar to VHY?
The ETFs with the most overlap with VHY are SFY (about 70%) and QOZ (about 69%). Use the free ETF overlap calculator to check your own mix.
How often does VHY pay distributions?
VHY pays distributions quarterly.
Should I own VHY and SFY together?
Usually there is little point: their holdings overlap by about 70%, so owning both mostly doubles up.
Fee, size and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns, 5-year figure is cumulative. Holdings from Vanguard as at 30 September 2026. Chart: TradingView. General information only, not a recommendation to buy or sell VHY. Consider the PDS and TMD before investing.