HYXF vs. SPYX
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) are both exchange-traded funds - HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index. Both are passively managed. Over the past 5 years, HYXF returned 3.61%/yr vs 12.96%/yr for SPYX. A 0.60 correlation means they provide meaningful diversification when combined. HYXF charges 0.35%/yr vs 0.20%/yr for SPYX.
Performance
HYXF vs. SPYX - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.06% return, which is significantly lower than SPYX's 8.26% return.
HYXF
- 1D
- -0.05%
- 1M
- 0.47%
- YTD
- 1.06%
- 6M
- 1.78%
- 1Y
- 5.83%
- 3Y*
- 8.51%
- 5Y*
- 3.61%
- 10Y*
- —
SPYX
- 1D
- 0.53%
- 1M
- -0.85%
- YTD
- 8.26%
- 6M
- 8.62%
- 1Y
- 24.90%
- 3Y*
- 20.78%
- 5Y*
- 12.96%
- 10Y*
- 15.50%
HYXF vs. SPYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.06% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | 6.89% |
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 8.26% | 17.87% | 25.46% | 26.38% | -19.59% | 28.06% | 19.87% | 31.62% | -4.26% | 23.25% |
Correlation
The correlation between HYXF and SPYX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.60 |
The correlation between HYXF and SPYX shifts across timeframes, from 0.60 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HYXF vs. SPYX — Risk / Return Rank
HYXF
SPYX
HYXF vs. SPYX - 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 State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). 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.
| HYXF | SPYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.40 | -0.14 |
| Martin ratioReturn relative to average drawdown | 10.11 | 10.78 | -0.67 |
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Drawdowns
HYXF vs. SPYX - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum SPYX drawdown of -32.84%. Use the drawdown chart below to compare losses from any high point for HYXF and SPYX.
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Drawdown Indicators
| HYXF | SPYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -32.84% | +14.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -9.84% | +7.27% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -18.74% | +13.93% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -26.14% | +10.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.84% | — |
Current DrawdownCurrent decline from peak | -0.13% | -2.38% | +2.25% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -4.53% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 2.19% | -1.62% |
Volatility
HYXF vs. SPYX - Volatility Comparison
The current volatility for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) is 1.26%, while State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) has a volatility of 4.52%. This indicates that HYXF experiences smaller price fluctuations and is considered to be less risky than SPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYXF | SPYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 4.52% | -3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 9.92% | -6.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 12.61% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 17.12% | -9.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 18.04% | -9.73% |
HYXF vs. SPYX - Expense Ratio Comparison
HYXF has a 0.35% expense ratio, which is higher than SPYX's 0.20% expense ratio.
Dividends
HYXF vs. SPYX - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.09%, more than SPYX's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF | 0.86% | 0.91% | 1.05% | 1.21% | 1.41% | 1.04% | 1.33% | 1.56% | 1.92% | 1.68% | 1.91% | 0.16% |
Frequently Asked Questions
HYXF and SPYX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYX has higher volatility (4.52%) compared to HYXF (1.26%). In terms of maximum drawdown, HYXF dropped -18.75% vs SPYX's -32.84%.
On 5-year performance, SPYX leads with 12.96% vs 3.61% for HYXF. On fees, SPYX is cheaper at 0.20% per year. On volatility, HYXF has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPYX has performed better with a 12.96% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYX is cheaper with a 0.20% expense ratio, compared with 0.35% for HYXF.
HYXF has the higher dividend yield at 6.09%, compared with 0.86% for SPYX.
HYXF is categorized as High Yield Bonds, while SPYX is S&P 500. HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while SPYX tracks S&P 500 Fossil Fuel Reserves Free Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for HYXF and 0.20% for SPYX.
SPYX currently has the higher Sharpe Ratio (1.87 vs 1.52), 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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