BLW vs. SPHY
Compare and contrast key facts about BlackRock Limited Duration Income Trust (BLW) and SPDR Portfolio High Yield Bond ETF (SPHY).
SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BLW or SPHY.
Key characteristics
| BLW | SPHY | |
|---|---|---|
| YTD Return | 10.00% | 8.45% |
| 1Y Return | 20.74% | 14.62% |
| 3Y Return (Ann) | 2.38% | 3.34% |
| 5Y Return (Ann) | 6.32% | 4.85% |
| 10Y Return (Ann) | 6.94% | 4.56% |
| Sharpe Ratio | 2.32 | 3.20 |
| Sortino Ratio | 3.50 | 5.12 |
| Omega Ratio | 1.46 | 1.65 |
| Calmar Ratio | 1.86 | 3.06 |
| Martin Ratio | 15.71 | 26.10 |
| Ulcer Index | 1.32% | 0.55% |
| Daily Std Dev | 8.93% | 4.52% |
| Max Drawdown | -44.99% | -21.97% |
| Current Drawdown | -1.66% | -0.50% |
Correlation
The correlation between BLW and SPHY is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
BLW vs. SPHY - Performance Comparison
In the year-to-date period, BLW achieves a 10.00% return, which is significantly higher than SPHY's 8.45% return. Over the past 10 years, BLW has outperformed SPHY with an annualized return of 6.94%, while SPHY has yielded a comparatively lower 4.56% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
BLW vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Limited Duration Income Trust (BLW) and SPDR Portfolio High Yield Bond ETF (SPHY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
BLW vs. SPHY - Dividend Comparison
BLW's dividend yield for the trailing twelve months is around 9.25%, more than SPHY's 7.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLW BlackRock Limited Duration Income Trust | 8.50% | 8.63% | 8.25% | 6.98% | 7.39% | 6.30% | 7.18% | 6.26% | 9.68% | 8.29% | 8.28% | 7.48% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.78% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
BLW vs. SPHY - Drawdown Comparison
The maximum BLW drawdown since its inception was -44.99%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for BLW and SPHY. For additional features, visit the drawdowns tool.
Volatility
BLW vs. SPHY - Volatility Comparison
BlackRock Limited Duration Income Trust (BLW) has a higher volatility of 2.83% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 1.15%. This indicates that BLW's price experiences larger fluctuations and is considered to be riskier than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.