EVHY vs. SPHY
Compare and contrast key facts about Eaton Vance High Yield ETF (EVHY) and SPDR Portfolio High Yield Bond ETF (SPHY).
EVHY and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVHY is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. 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
EVHY vs. SPHY - Performance Comparison
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EVHY vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVHY Eaton Vance High Yield ETF | -0.25% | 9.14% | 6.39% | 8.90% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.07% | 8.59% | 8.54% | 9.23% |
Returns By Period
In the year-to-date period, EVHY achieves a -0.25% return, which is significantly lower than SPHY's -0.07% return.
EVHY
- 1D
- 0.24%
- 1M
- -0.92%
- YTD
- -0.25%
- 6M
- 1.47%
- 1Y
- 7.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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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EVHY vs. SPHY - Expense Ratio Comparison
EVHY has a 0.48% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Return for Risk
EVHY vs. SPHY — Risk / Return Rank
EVHY
SPHY
EVHY vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance High Yield ETF (EVHY) 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.
| EVHY | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.45 | 1.31 | +0.14 |
Sortino ratioReturn per unit of downside risk | 2.20 | 1.94 | +0.26 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.81 | +0.33 |
Martin ratioReturn relative to average drawdown | 11.14 | 9.48 | +1.66 |
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
| EVHY | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 1.31 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.61 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.19 | 0.63 | +1.56 |
Correlation
The correlation between EVHY and SPHY is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EVHY vs. SPHY - Dividend Comparison
EVHY's dividend yield for the trailing twelve months is around 7.35%, which matches SPHY's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVHY Eaton Vance High Yield ETF | 7.35% | 7.39% | 7.66% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
EVHY vs. SPHY - Drawdown Comparison
The maximum EVHY drawdown since its inception was -3.71%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for EVHY and SPHY.
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Drawdown Indicators
| EVHY | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -21.97% | +18.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.38% | -4.07% | +0.69% |
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 | -1.10% | -1.06% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -2.32% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.78% | -0.13% |
Volatility
EVHY vs. SPHY - Volatility Comparison
The current volatility for Eaton Vance High Yield ETF (EVHY) is 1.98%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 2.23%. This indicates that EVHY experiences smaller price fluctuations and is considered to be less risky 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
| EVHY | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 2.23% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 2.88% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.86% | 5.50% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.58% | 7.16% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.58% | 7.97% | -3.39% |