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HYXF vs. SPHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HYXF vs. SPHY

Last updated Jun 5, 2026

HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both High Yield Bonds funds - HYXF tracks the Bloomberg MSCI US High Yield Corporate Choice ESG Screened while SPHY tracks the ICE BofA US High Yield Index. Both are passively managed. Over the past 5 years, HYXF returned 3.68%/yr vs 4.41%/yr for SPHY. A 0.71 correlation means they provide meaningful diversification when combined. HYXF charges 0.35%/yr vs 0.05%/yr for SPHY.

Performance

HYXF vs. SPHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and SPDR Portfolio High Yield Bond ETF (SPHY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HYXF achieves a 1.01% return, which is significantly lower than SPHY's 1.63% return.

HYXF

1D
0.10%
1M
0.28%
YTD
1.01%
6M
1.57%
1Y
5.76%
3Y*
8.71%
5Y*
3.68%
10Y*
—

SPHY

1D
0.09%
1M
0.42%
YTD
1.63%
6M
2.02%
1Y
7.02%
3Y*
8.98%
5Y*
4.41%
10Y*
5.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HYXF vs. SPHY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HYXF
iShares ESG Advanced High Yield Corporate Bond ETF		1.01%8.88%8.35%11.87%-11.90%2.60%6.07%14.87%-0.24%6.89%
SPHY
SPDR Portfolio High Yield Bond ETF		1.63%8.59%8.54%12.81%-10.57%5.61%6.65%13.16%-3.35%7.35%

Correlation

The correlation between HYXF and SPHY is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.91

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Jun 20, 2016

0.71

The correlation between HYXF and SPHY shifts across timeframes, from 0.71 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

HYXF vs. SPHY - Sectors Allocation Comparison

Sectors
HYXF
SPHY

Communication Services

100.0%

-

Basic Materials

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

0.1%

Financial Services

-

99.9%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Communication Services

HYXF
100.0%
SPHY

-

Basic Materials

HYXF

-

SPHY

-

Consumer Cyclical

HYXF

-

SPHY

-

Consumer Defensive

HYXF

-

SPHY

-

Energy

HYXF

-

SPHY
0.1%

Financial Services

HYXF

-

SPHY
99.9%

Healthcare

HYXF

-

SPHY

-

Industrials

HYXF

-

SPHY

-

Real Estate

HYXF

-

SPHY

-

Technology

HYXF

-

SPHY

-

Utilities

HYXF

-

SPHY

-

Compare stocks, funds, or ETFs

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iShares ESG Advanced High Yield Corporate Bond ETF

SPDR Portfolio High Yield Bond ETF

Often compared with HYXF:
HYXF vs. EUSBHYXF vs. ARTFXHYXF vs. USHYHYXF vs. FDHYHYXF vs. SRLNHYXF vs. SGOVHYXF vs. BSJP
Often compared with SPHY:
SPHY vs. SCYBSPHY vs. HYGSPHY vs. USHYSPHY vs. SCHDSPHY vs. JNKSPHY vs. SHYGSPHY vs. VWEAX

Return for Risk

HYXF vs. SPHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HYXF
HYXF Risk / Return Rank: 4949
Overall Rank
HYXF Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
HYXF Sortino Ratio Rank: 4848
Sortino Ratio Rank
HYXF Omega Ratio Rank: 4646
Omega Ratio Rank
HYXF Calmar Ratio Rank: 4646
Calmar Ratio Rank
HYXF Martin Ratio Rank: 5858
Martin Ratio Rank
SPHY
SPHY Risk / Return Rank: 6464
Overall Rank
SPHY Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
SPHY Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPHY Omega Ratio Rank: 6464
Omega Ratio Rank
SPHY Calmar Ratio Rank: 6060
Calmar Ratio Rank
SPHY Martin Ratio Rank: 7272
Martin Ratio Rank
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.

HYXF vs. SPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) 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.

HYXFSPHYDifference
Sharpe ratioReturn per unit of total volatility
1.54
1.92

-0.39

Sortino ratioReturn per unit of downside risk
2.32
2.92

-0.61

Omega ratioGain probability vs. loss probability

1.29

1.38

-0.09

Calmar ratioReturn relative to maximum drawdown

2.25

2.92

-0.67

Martin ratioReturn relative to average drawdown

10.15

13.27

-3.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYXF vs. SPHY - Sharpe Ratio Comparison

The current HYXF Sharpe Ratio is 1.54, which is comparable to the SPHY Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of HYXF and SPHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HYXFSPHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.54

1.92

-0.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.46

0.62

-0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.64

-0.02

Drawdowns

HYXF vs. SPHY - Drawdown Comparison

The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for HYXF and SPHY.

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Drawdown Indicators

HYXFSPHYDifference

Max Drawdown

Largest peak-to-trough decline

-18.75%

-21.97%

+3.22%

Max Drawdown (1Y)

Largest decline over 1 year

-2.57%

-2.41%

-0.16%

Max Drawdown (3Y)

Largest decline over 3 years

-4.81%

-4.85%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-16.00%

-15.29%

-0.71%

Max Drawdown (10Y)

Largest decline over 10 years

—

-21.97%

—

Current Drawdown

Current decline from peak

-0.17%

-0.14%

-0.03%

Average Drawdown

Average peak-to-trough decline

-2.58%

-2.29%

-0.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.57%

0.53%

+0.04%

Volatility

HYXF vs. SPHY - Volatility Comparison

iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and SPDR Portfolio High Yield Bond ETF (SPHY) have volatilities of 1.15% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HYXFSPHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.15%

1.14%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

2.92%

2.91%

+0.01%

Volatility (1Y)

Calculated over the trailing 1-year period

3.77%

3.68%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.04%

7.17%

+0.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.32%

7.89%

+0.43%

HYXF vs. SPHY - Expense Ratio Comparison

HYXF has a 0.35% expense ratio, which is higher than SPHY's 0.05% expense ratio.

Dividends

HYXF vs. SPHY - Dividend Comparison

HYXF's dividend yield for the trailing twelve months is around 6.09%, less than SPHY's 7.26% yield.

PositionTTM20252024202320222021202020192018201720162015
HYXF
iShares ESG Advanced High Yield Corporate Bond ETF		6.09%6.19%6.40%5.93%5.37%4.56%4.96%5.29%6.14%5.85%3.16%0.00%
SPHY
SPDR Portfolio High Yield Bond ETF		7.26%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 0.91, HYXF 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.

HYXF has higher volatility (1.15%) compared to SPHY (1.14%). In terms of maximum drawdown, HYXF dropped -18.75% vs SPHY's -21.97%.

On 5-year performance, SPHY leads with 4.41% vs 3.68% for HYXF. On fees, SPHY is cheaper at 0.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPHY has performed better with a 4.41% return vs 3.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHY is cheaper with a 0.05% expense ratio, compared with 0.35% for HYXF.

SPHY has the higher dividend yield at 7.26%, compared with 6.09% for HYXF.

HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for HYXF and 0.05% for SPHY.

SPHY currently has the higher Sharpe Ratio (1.92 vs 1.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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