CPHY vs. PHYD

Last updated Jul 12, 2026

CPHY (F/m Compoundr High Yield Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. CPHY is passively managed, while PHYD is actively managed. Their correlation of 0.81 suggests significant overlap in exposure. CPHY charges 0.35%/yr vs 0.55%/yr for PHYD.

Performance

CPHY vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Compoundr High Yield Bond ETF (CPHY) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CPHY

• 1D: -0.10%
• 1M: 0.15%
• 6M: 0.27%
• YTD: 0.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHYD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPHY vs. PHYD - Yearly Performance Comparison

	2026 (YTD)	2025
CPHY F/m Compoundr High Yield Bond ETF	0.72%	2.43%
PHYD Putnam ESG High Yield ETF -	2.32%	3.71%

Correlation

The correlation between CPHY and PHYD is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.81

Return for Risk

CPHY vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) and Putnam ESG High Yield ETF - (PHYD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	CPHY	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-2.51%	—	—
Current Drawdown Current decline from peak	-0.27%	—	—
Average Drawdown Average peak-to-trough decline	-0.54%	—	—

Volatility

Volatility by Period

	CPHY	PHYD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.50%	—	—

CPHY vs. PHYD - Expense Ratio Comparison

CPHY has a 0.35% expense ratio, which is lower than PHYD's 0.55% expense ratio.

Dividends

CPHY vs. PHYD - Dividend Comparison

Neither CPHY nor PHYD has paid dividends to shareholders.

Position	TTM	2025	2024	2023
CPHY F/m Compoundr High Yield Bond ETF	0.00%	0.00%	0.00%	0.00%
PHYD Putnam ESG High Yield ETF -	8.52%	6.63%	6.80%	6.15%

Frequently Asked Questions

Can I hold both CPHY and PHYD in my portfolio?

CPHY and PHYD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPHY or PHYD?

On fees, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPHY or PHYD?

CPHY is cheaper with a 0.35% expense ratio, compared with 0.55% for PHYD.

Which ETF pays a higher dividend yield, CPHY or PHYD?

PHYD has the higher dividend yield at 8.52%, compared with 0.00% for CPHY.

What is the main difference between CPHY and PHYD?

They also come from different issuers: F/m Investments and Putnam. Their fees differ too: 0.35% for CPHY and 0.55% for PHYD.