HYBL vs. XB

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Blackstone High Income ETF (HYBL) and BondBloxx B Rated USD High Yield Corporate Bond ETF (XB).

HYBL and XB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYBL is an actively managed fund by State Street. It was launched on Feb 16, 2022. XB is a passively managed fund by BondBloxx that tracks the performance of the ICE BofA Single-B US Cash Pay High Yield Constrained Index. It was launched on May 24, 2022.

Performance

HYBL vs. XB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Blackstone High Income ETF (HYBL) and BondBloxx B Rated USD High Yield Corporate Bond ETF (XB). The values are adjusted to include any dividend payments, if applicable.

HYBL vs. XB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYBL SPDR Blackstone High Income ETF	-1.05%	7.78%	9.12%	11.86%	-0.85%
XB BondBloxx B Rated USD High Yield Corporate Bond ETF	-0.20%	7.81%	7.41%	12.94%	-4.25%

Returns By Period

In the year-to-date period, HYBL achieves a -1.05% return, which is significantly lower than XB's -0.20% return.

HYBL

• 1D: 0.69%
• 1M: -0.04%
• YTD: -1.05%
• 6M: 0.60%
• 1Y: 6.32%
• 3Y*: 8.09%
• 5Y*: —
• 10Y*: —

XB

• 1D: 0.99%
• 1M: -0.79%
• YTD: -0.20%
• 6M: 1.29%
• 1Y: 7.06%
• 3Y*: 7.79%
• 5Y*: —
• 10Y*: —

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

HYBL vs. XB - Expense Ratio Comparison

HYBL has a 0.70% expense ratio, which is higher than XB's 0.30% expense ratio.

HYBL

SPDR Blackstone High Income ETF

XB

BondBloxx B Rated USD High Yield Corporate Bond ETF

Return for Risk

HYBL vs. XB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYBL

HYBL Risk / Return Rank: 79
HYBL Sharpe Ratio Rank: 78
HYBL Sortino Ratio Rank: 80
HYBL Omega Ratio Rank: 88
HYBL Calmar Ratio Rank: 72
HYBL Martin Ratio Rank: 77

XB

XB Risk / Return Rank: 75
XB Sharpe Ratio Rank: 72
XB Sortino Ratio Rank: 75
XB Omega Ratio Rank: 80
XB Calmar Ratio Rank: 66
XB Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYBL vs. XB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Blackstone High Income ETF (HYBL) and BondBloxx B Rated USD High Yield Corporate Bond ETF (XB). 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.

	HYBL	XB	Difference
Sharpe ratio Return per unit of total volatility	1.37	1.27	+0.10
Sortino ratio Return per unit of downside risk	2.02	1.89	+0.13
Omega ratio Gain probability vs. loss probability	1.35	1.31	+0.04
Calmar ratio Return relative to maximum drawdown	1.78	1.64	+0.14
Martin ratio Return relative to average drawdown	7.84	9.47	-1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBL vs. XB - Sharpe Ratio Comparison

The current HYBL Sharpe Ratio is 1.37, which is comparable to the XB Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of HYBL and XB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYBL	XB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.27	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.80	+0.37

Correlation

The correlation between HYBL and XB is 0.74, 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

HYBL vs. XB - Dividend Comparison

HYBL's dividend yield for the trailing twelve months is around 7.25%, which matches XB's 7.19% yield.

	TTM	2025	2024	2023	2022
HYBL SPDR Blackstone High Income ETF	7.25%	7.22%	7.88%	7.93%	5.10%
XB BondBloxx B Rated USD High Yield Corporate Bond ETF	7.19%	6.96%	7.74%	7.87%	5.01%

Drawdowns

HYBL vs. XB - Drawdown Comparison

The maximum HYBL drawdown since its inception was -8.46%, smaller than the maximum XB drawdown of -9.25%. Use the drawdown chart below to compare losses from any high point for HYBL and XB.

Drawdown Indicators

	HYBL	XB	Difference
Max Drawdown Largest peak-to-trough decline	-8.46%	-9.25%	+0.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.54%	-4.27%	+0.73%
Current Drawdown Current decline from peak	-1.60%	-1.04%	-0.56%
Average Drawdown Average peak-to-trough decline	-1.40%	-1.36%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	0.74%	+0.06%

Volatility

HYBL vs. XB - Volatility Comparison

The current volatility for SPDR Blackstone High Income ETF (HYBL) is 1.44%, while BondBloxx B Rated USD High Yield Corporate Bond ETF (XB) has a volatility of 2.03%. This indicates that HYBL experiences smaller price fluctuations and is considered to be less risky than XB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBL	XB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	2.03%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	2.74%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	4.65%	5.60%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	7.54%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	7.54%	-2.90%