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.
Performance
BLW vs. SPHY - Performance Comparison
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BLW vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLW BlackRock Limited Duration Income Trust | -5.97% | 7.17% | 11.06% | 17.29% | -15.92% | 13.52% | 5.36% | 31.08% | -10.22% | 11.53% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.07% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Returns By Period
In the year-to-date period, BLW achieves a -5.97% return, which is significantly lower than SPHY's -0.07% return. Over the past 10 years, BLW has outperformed SPHY with an annualized return of 6.71%, while SPHY has yielded a comparatively lower 5.32% annualized return.
BLW
- 1D
- 0.08%
- 1M
- -6.90%
- YTD
- -5.97%
- 6M
- -5.43%
- 1Y
- -1.06%
- 3Y*
- 8.58%
- 5Y*
- 3.31%
- 10Y*
- 6.71%
SPHY
- 1D
- 0.25%
- 1M
- -0.69%
- YTD
- -0.07%
- 6M
- 1.01%
- 1Y
- 7.16%
- 3Y*
- 8.49%
- 5Y*
- 4.36%
- 10Y*
- 5.32%
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Return for Risk
BLW vs. SPHY — Risk / Return Rank
BLW
SPHY
BLW vs. SPHY - Risk-Adjusted Trends 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.
| BLW | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.10 | 1.31 | -1.40 |
Sortino ratioReturn per unit of downside risk | -0.05 | 1.94 | -1.99 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.31 | -0.32 |
Calmar ratioReturn relative to maximum drawdown | -0.15 | 1.81 | -1.97 |
Martin ratioReturn relative to average drawdown | -0.70 | 9.48 | -10.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BLW | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.10 | 1.31 | -1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.61 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.67 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.63 | -0.23 |
Correlation
The correlation between BLW and SPHY is 0.30, 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.
Dividends
BLW vs. SPHY - Dividend Comparison
BLW's dividend yield for the trailing twelve months is around 10.78%, more than SPHY's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLW BlackRock Limited Duration Income Trust | 10.78% | 9.89% | 9.39% | 8.63% | 8.26% | 6.99% | 7.39% | 6.27% | 7.14% | 6.24% | 9.68% | 8.26% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.37% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Drawdowns
BLW vs. SPHY - Drawdown Comparison
The maximum BLW drawdown since its inception was -44.13%, 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.
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Drawdown Indicators
| BLW | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.13% | -21.97% | -22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -4.07% | -7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -26.30% | -15.29% | -11.01% |
Max Drawdown (10Y)Largest decline over 10 years | -41.85% | -21.97% | -19.88% |
Current DrawdownCurrent decline from peak | -7.98% | -1.06% | -6.92% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -2.32% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 0.78% | +1.62% |
Volatility
BLW vs. SPHY - Volatility Comparison
BlackRock Limited Duration Income Trust (BLW) has a higher volatility of 5.70% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 2.23%. 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.
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Volatility by Period
| BLW | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 2.23% | +3.47% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 2.88% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.13% | 5.50% | +5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.37% | 7.16% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.58% | 7.97% | +6.61% |