IDEV vs. SPHY
IDEV (iShares Core MSCI International Developed Markets ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both exchange-traded funds - IDEV is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Investable Market Index, while SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index. Both are passively managed. Over the past 5 years, IDEV returned 8.97%/yr vs 4.27%/yr for SPHY. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.
Performance
IDEV vs. SPHY - Performance Comparison
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Returns By Period
In the year-to-date period, IDEV achieves a 8.65% return, which is significantly higher than SPHY's 2.10% return.
IDEV
- 1D
- -0.73%
- 1M
- -1.43%
- 6M
- 4.85%
- YTD
- 8.65%
- 1Y
- 20.97%
- 3Y*
- 15.83%
- 5Y*
- 8.97%
- 10Y*
- —
- ALL TIME*
- 9.26%
SPHY
- 1D
- 0.00%
- 1M
- 0.12%
- 6M
- 1.50%
- YTD
- 2.10%
- 1Y
- 5.87%
- 3Y*
- 8.49%
- 5Y*
- 4.27%
- 10Y*
- 4.87%
- ALL TIME*
- 4.97%
IDEV vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IDEV iShares Core MSCI International Developed Markets ETF | 8.65% | 32.56% | 4.54% | 17.36% | -14.99% | 13.00% | 8.32% | 23.12% | -14.10% | 17.43% |
SPHY SPDR Portfolio High Yield Bond ETF | 2.10% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 5.89% |
Correlation
The correlation between IDEV and SPHY is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2017 | 0.60 |
The correlation between IDEV and SPHY shifts across timeframes, from 0.60 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IDEV vs. SPHY — Risk / Return Rank
IDEV
SPHY
IDEV vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI International Developed Markets ETF (IDEV) 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.
| IDEV | SPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.44 | -0.56 |
| Martin ratioReturn relative to average drawdown | 7.30 | 11.08 | -3.78 |
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Drawdowns
IDEV vs. SPHY - Drawdown Comparison
The maximum IDEV drawdown since its inception was -34.77%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for IDEV and SPHY.
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Drawdown Indicators
| IDEV | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.77% | -21.97% | -12.80% |
Max Drawdown (1Y)Largest decline over 1 year | -11.20% | -2.41% | -8.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -4.85% | -8.56% |
Max Drawdown (5Y)Largest decline over 5 years | -29.15% | -15.29% | -13.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.97% | — |
Current DrawdownCurrent decline from peak | -2.41% | -0.17% | -2.24% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -2.27% | -4.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 0.53% | +2.35% |
Volatility
IDEV vs. SPHY - Volatility Comparison
iShares Core MSCI International Developed Markets ETF (IDEV) has a higher volatility of 3.70% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 0.58%. This indicates that IDEV's price experiences larger fluctuations and is considered to be riskier 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
| IDEV | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 0.58% | +3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 13.00% | 2.99% | +10.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 3.64% | +11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 7.18% | +9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 7.84% | +9.41% |
IDEV vs. SPHY - Expense Ratio Comparison
Both IDEV and SPHY have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IDEV vs. SPHY - Dividend Comparison
IDEV's dividend yield for the trailing twelve months is around 3.25%, less than SPHY's 7.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDEV iShares Core MSCI International Developed Markets ETF | 3.25% | 3.40% | 3.30% | 3.07% | 2.69% | 3.05% | 2.00% | 3.18% | 3.16% | 1.54% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.23% | 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
IDEV and SPHY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDEV has higher volatility (3.70%) compared to SPHY (0.58%). In terms of maximum drawdown, IDEV dropped -34.77% vs SPHY's -21.97%.
On 5-year performance, IDEV leads with 8.97% vs 4.27% for SPHY. Both ETFs have the same 0.05% expense ratio. On volatility, SPHY has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IDEV has performed better with a 8.97% return vs 4.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDEV and SPHY have the same expense ratio: 0.05% per year.
SPHY has the higher dividend yield at 7.23%, compared with 3.25% for IDEV.
IDEV is categorized as Foreign Large Cap Equities, while SPHY is High Yield Bonds. IDEV tracks MSCI World ex USA Investable Market Index, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: iShares and State Street.
SPHY currently has the higher Sharpe Ratio (1.62 vs 1.39), 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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