MYHB vs. PHYD

Last updated Jul 12, 2026

MYHB (State Street My2028 High Yield Corporate Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. MYHB is passively managed, while PHYD is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. MYHB charges 0.39%/yr vs 0.55%/yr for PHYD.

Performance

MYHB vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street My2028 High Yield Corporate Bond ETF (MYHB) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MYHB

• 1D: -0.06%
• 1M: 0.20%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHYD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MYHB vs. PHYD - Yearly Performance Comparison

	2026 (YTD)
MYHB State Street My2028 High Yield Corporate Bond ETF	1.76%
PHYD Putnam ESG High Yield ETF -	1.75%

Correlation

The correlation between MYHB and PHYD is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 26, 2026	0.79

Return for Risk

MYHB vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street My2028 High Yield Corporate Bond ETF (MYHB) and Putnam ESG High Yield ETF - (PHYD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

Drawdown Indicators

	MYHB	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-1.09%	—	—
Current Drawdown Current decline from peak	-0.06%	—	—
Average Drawdown Average peak-to-trough decline	-0.19%	—	—

Volatility

Volatility by Period

	MYHB	PHYD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.95%	—	—

MYHB vs. PHYD - Expense Ratio Comparison

MYHB has a 0.39% expense ratio, which is lower than PHYD's 0.55% expense ratio.

Dividends

MYHB vs. PHYD - Dividend Comparison

MYHB's dividend yield for the trailing twelve months is around 2.23%, while PHYD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MYHB State Street My2028 High Yield Corporate Bond ETF	2.23%	0.00%	0.00%	0.00%
PHYD Putnam ESG High Yield ETF -	8.52%	6.63%	6.80%	6.15%

Frequently Asked Questions

Can I hold both MYHB and PHYD in my portfolio?

MYHB and PHYD have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MYHB or PHYD?

On fees, MYHB is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MYHB or PHYD?

MYHB is cheaper with a 0.39% expense ratio, compared with 0.55% for PHYD.

Which ETF pays a higher dividend yield, MYHB or PHYD?

PHYD has the higher dividend yield at 8.52%, compared with 2.23% for MYHB.

What is the main difference between MYHB and PHYD?

They also come from different issuers: State Street and Putnam. Their fees differ too: 0.39% for MYHB and 0.55% for PHYD.