JHHY vs. SPHY

Last updated Jun 4, 2026

JHHY (John Hancock High Yield ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both High Yield Bonds funds. JHHY is actively managed, while SPHY is passively managed. Over the past year, JHHY returned 7.43% vs 7.16% for SPHY. Their correlation of 0.93 suggests significant overlap in exposure. JHHY charges 0.52%/yr vs 0.10%/yr for SPHY.

Performance

JHHY vs. SPHY - Performance Comparison

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

Returns By Period

In the year-to-date period, JHHY achieves a 1.36% return, which is significantly lower than SPHY's 1.54% return.

JHHY

• 1D: -0.25%
• 1M: 0.25%
• YTD: 1.36%
• 6M: 1.84%
• 1Y: 7.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPHY

• 1D: -0.21%
• 1M: 0.42%
• YTD: 1.54%
• 6M: 1.93%
• 1Y: 7.16%
• 3Y*: 8.97%
• 5Y*: 4.39%
• 10Y*: 5.15%

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

JHHY vs. SPHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JHHY John Hancock High Yield ETF	1.36%	9.18%	6.95%
SPHY SPDR Portfolio High Yield Bond ETF	1.54%	8.59%	6.85%

Correlation

The correlation between JHHY and SPHY is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.93

The correlation between JHHY and SPHY has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

JHHY vs. SPHY — Risk / Return Rank

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

JHHY

JHHY Risk / Return Rank: 62
JHHY Sharpe Ratio Rank: 57
JHHY Sortino Ratio Rank: 63
JHHY Omega Ratio Rank: 61
JHHY Calmar Ratio Rank: 61
JHHY Martin Ratio Rank: 70

SPHY

SPHY Risk / Return Rank: 62
SPHY Sharpe Ratio Rank: 56
SPHY Sortino Ratio Rank: 62
SPHY Omega Ratio Rank: 62
SPHY Calmar Ratio Rank: 59
SPHY Martin Ratio Rank: 71

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.

JHHY vs. SPHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock High Yield ETF (JHHY) 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.

	JHHY	SPHY	Difference
Sharpe ratio Return per unit of total volatility	1.89	1.96	-0.07
Sortino ratio Return per unit of downside risk	2.88	2.98	-0.10
Omega ratio Gain probability vs. loss probability	1.36	1.39	-0.02
Calmar ratio Return relative to maximum drawdown	2.98	2.98	0.00
Martin ratio Return relative to average drawdown	12.95	13.52	-0.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHHY vs. SPHY - Sharpe Ratio Comparison

The current JHHY Sharpe Ratio is 1.89, which is comparable to the SPHY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of JHHY 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.

Sharpe Ratios by Period

	JHHY	SPHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.96	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.75	0.64	+1.12

Drawdowns

JHHY vs. SPHY - Drawdown Comparison

The maximum JHHY drawdown since its inception was -4.95%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for JHHY and SPHY.

Drawdown Indicators

	JHHY	SPHY	Difference
Max Drawdown Largest peak-to-trough decline	-4.95%	-21.97%	+17.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-2.41%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.97%	—
Current Drawdown Current decline from peak	-0.28%	-0.22%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.40%	-2.29%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.53%	+0.05%

Volatility

JHHY vs. SPHY - Volatility Comparison

John Hancock High Yield ETF (JHHY) and SPDR Portfolio High Yield Bond ETF (SPHY) have volatilities of 1.10% 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.

Volatility by Period

	JHHY	SPHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.14%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	2.91%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	3.68%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	7.17%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	7.89%	-3.04%

JHHY vs. SPHY - Expense Ratio Comparison

JHHY has a 0.52% expense ratio, which is higher than SPHY's 0.10% expense ratio.

Dividends

JHHY vs. SPHY - Dividend Comparison

JHHY's dividend yield for the trailing twelve months is around 6.97%, less than SPHY's 7.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHHY John Hancock High Yield ETF	6.97%	7.21%	5.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHY SPDR Portfolio High Yield Bond ETF	7.27%	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

Can I hold both JHHY and SPHY in my portfolio?

With a correlation of 0.92, JHHY 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.

Which is riskier, JHHY or SPHY?

SPHY has higher volatility (1.14%) compared to JHHY (1.10%). In terms of maximum drawdown, JHHY dropped -4.95% vs SPHY's -21.97%.

Which ETF is better, JHHY or SPHY?

On 1-year performance, JHHY leads with 7.43% vs 7.16% for SPHY. On fees, SPHY is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JHHY or SPHY?

Over the 1-year period, JHHY has performed better with a 7.43% return vs 7.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JHHY or SPHY?

SPHY is cheaper with a 0.10% expense ratio, compared with 0.52% for JHHY.

Which ETF pays a higher dividend yield, JHHY or SPHY?

SPHY has the higher dividend yield at 7.27%, compared with 6.97% for JHHY.

What is the main difference between JHHY and SPHY?

They also come from different issuers: John Hancock and State Street. Their fees differ too: 0.52% for JHHY and 0.10% for SPHY.

Which has better risk-adjusted returns?

SPHY currently has the higher Sharpe Ratio (1.96 vs 1.89), 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.