CPHY vs. SPHY
CPHY (F/m Compoundr High Yield Bond ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both High Yield Bonds funds - CPHY tracks the Nasdaq Compoundr U.S. High Yield Bond Index while SPHY tracks the ICE BofA US High Yield Index. Both are passively managed. Their correlation of 0.94 means they have usually moved in the same direction. CPHY charges 0.35%/yr vs 0.05%/yr for SPHY.
Performance
CPHY vs. SPHY - Performance Comparison
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Returns By Period
In the year-to-date period, CPHY achieves a 0.43% return, which is significantly lower than SPHY's 1.84% return.
CPHY
- 1D
- -0.01%
- 1M
- -0.38%
- 6M
- -0.17%
- YTD
- 0.43%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPHY
- 1D
- 0.04%
- 1M
- -0.30%
- 6M
- 1.20%
- YTD
- 1.84%
- 1Y
- 5.47%
- 3Y*
- 8.43%
- 5Y*
- 4.19%
- 10Y*
- 4.92%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $47.80K | $33.82K | $41.16K | |
| $242.17M | $164.39M | $124.54M |
CPHY vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPHY F/m Compoundr High Yield Bond ETF | 0.43% | 2.43% |
SPHY SPDR Portfolio High Yield Bond ETF | 1.84% | 3.22% |
Correlation
The correlation between CPHY and SPHY is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025 | 0.94 |
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Return for Risk
CPHY vs. SPHY — Risk / Return Rank
CPHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPHY
CPHY vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) 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.
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.
| CPHY | SPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.27 | — |
| Martin ratioReturn relative to average drawdown | — | 10.10 | — |
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Drawdowns
CPHY vs. SPHY - Drawdown Comparison
The maximum CPHY drawdown since its inception was -2.51%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for CPHY and SPHY.
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Drawdown Indicators
| CPHY | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.51% | -21.97% | +19.46% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.41% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.97% | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.43% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -2.27% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.54% | — |
Volatility
CPHY vs. SPHY - Volatility Comparison
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Volatility by Period
| CPHY | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.75% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 3.67% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 7.18% | -3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.45% | 7.83% | -4.38% |
CPHY vs. SPHY - Expense Ratio Comparison
CPHY has a 0.35% expense ratio, which is higher than SPHY's 0.05% expense ratio.
Dividends
CPHY vs. SPHY - Dividend Comparison
CPHY has not paid dividends to shareholders, while SPHY's dividend yield for the trailing twelve months is around 7.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPHY F/m Compoundr High Yield Bond ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 6.62% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Frequently Asked Questions
With a correlation of 0.94, CPHY and SPHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPHY is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPHY is cheaper with a 0.05% expense ratio, compared with 0.35% for CPHY.
SPHY has the higher dividend yield at 6.62%, compared with 0.00% for CPHY.
CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: F/m and State Street. Their fees differ too: 0.35% for CPHY and 0.05% for SPHY.
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