Vanguard High Dividend Yield Index Fund Admiral Shares
Figures last verified October 31, 2026
Tracks the FTSE High Dividend Yield Index — US stocks with above-average dividend yields, excluding REITs.
A confession the dividend-investing internet won't make: dividends aren't free money. A company paying you cash is a company not reinvesting it, and total return — price change plus dividends — is the only number that compounds. That said, if dividend income keeps you calm and invested, the behavioral benefit is real, and VHYAX is the sane way to get it: 500-plus higher-yielding large caps, indexed, at 0.08%.
It functions as a value fund in dividend clothing — heavy in financials, healthcare, and consumer staples, light in tech — so expect it to lag in growth-led markets and hold up better in downturns. In a taxable account, remember that every dividend is a taxable event you didn't choose; this fund is happiest inside an IRA, or in the hands of a retiree actually spending the income.
Income-oriented investors who still want broad diversification.
VHYAX alternatives & comparable funds
If you’re weighing VHYAX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| VHYAX — Vanguard High Dividend Yie… | Vanguard | 0.08% | $3,000 |
| VDADX — Vanguard Dividend Apprecia… | Vanguard | 0.08% | $3,000 |
| VVIAX — Vanguard Value Index Fund … | Vanguard | 0.05% | $3,000 |
| PRFDX — T. Rowe Price Equity Income Fund | T. Rowe Price | 0.69% | $2,500 |
Frequently asked questions
What is the expense ratio of VHYAX?
VHYAX (Vanguard High Dividend Yield Index Fund Admiral Shares) has an expense ratio of 0.08%, which works out to roughly $8 per year for every $10,000 invested. That is very low by industry standards, where the average fund still charges well over 0.40%.
What is the minimum investment for VHYAX?
VHYAX requires a minimum initial investment of $3,000.
What does VHYAX invest in?
Tracks the FTSE High Dividend Yield Index — US stocks with above-average dividend yields, excluding REITs. It falls in the large value category and is an index fund.
What are good alternatives to VHYAX?
The funds most often compared with VHYAX are VDADX, VVIAX, PRFDX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for VHYAX drawn from Vanguard fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.