MBND vs. SPHY
Compare and contrast key facts about SPDR Nuveen Municipal Bond ETF (MBND) and SPDR Portfolio High Yield Bond ETF (SPHY).
MBND and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MBND is an actively managed fund by State Street. It was launched on Feb 4, 2021. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Performance
MBND vs. SPHY - Performance Comparison
Loading graphics...
MBND vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 0.10% | 2.90% | 2.75% | 5.62% | -8.61% | 0.59% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.07% | 8.59% | 8.54% | 12.81% | -10.57% | 4.62% |
Returns By Period
In the year-to-date period, MBND achieves a 0.10% return, which is significantly higher than SPHY's -0.07% return.
MBND
- 1D
- 0.26%
- 1M
- -1.49%
- YTD
- 0.10%
- 6M
- 1.20%
- 1Y
- 3.18%
- 3Y*
- 3.13%
- 5Y*
- 0.73%
- 10Y*
- —
SPHY
- 1D
- 0.25%
- 1M
- -0.69%
- YTD
- -0.07%
- 6M
- 1.01%
- 1Y
- 7.16%
- 3Y*
- 8.49%
- 5Y*
- 4.36%
- 10Y*
- 5.32%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
MBND vs. SPHY - Expense Ratio Comparison
MBND has a 0.40% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Return for Risk
MBND vs. SPHY — Risk / Return Rank
MBND
SPHY
MBND vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ETF (MBND) 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.
| MBND | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 1.31 | -0.48 |
Sortino ratioReturn per unit of downside risk | 1.01 | 1.94 | -0.92 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.31 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.81 | -0.90 |
Martin ratioReturn relative to average drawdown | 2.78 | 9.48 | -6.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| MBND | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 1.31 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.61 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.63 | -0.47 |
Correlation
The correlation between MBND and SPHY is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MBND vs. SPHY - Dividend Comparison
MBND's dividend yield for the trailing twelve months is around 3.55%, less than SPHY's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBND SPDR Nuveen Municipal Bond ETF | 3.55% | 3.43% | 2.72% | 2.53% | 1.61% | 1.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.37% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Drawdowns
MBND vs. SPHY - Drawdown Comparison
The maximum MBND drawdown since its inception was -13.18%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for MBND and SPHY.
Loading graphics...
Drawdown Indicators
| MBND | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -21.97% | +8.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -4.07% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -13.18% | -15.29% | +2.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.97% | — |
Current DrawdownCurrent decline from peak | -1.62% | -1.06% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -2.32% | -1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.78% | +0.43% |
Volatility
MBND vs. SPHY - Volatility Comparison
The current volatility for SPDR Nuveen Municipal Bond ETF (MBND) is 1.18%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 2.23%. This indicates that MBND experiences smaller price fluctuations and is considered to be less risky than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| MBND | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 2.23% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 2.88% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 5.50% | -1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 7.16% | -3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.43% | 7.97% | -4.54% |