MYHE vs. PHYD

Last updated Jun 5, 2026

MYHE (State Street My2031 High Yield Corporate Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. MYHE is passively managed, while PHYD is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. MYHE charges 0.39%/yr vs 0.55%/yr for PHYD.

Performance

MYHE vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street My2031 High Yield Corporate Bond ETF (MYHE) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MYHE

• 1D: 0.04%
• 1M: 0.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHYD

• 1D: 0.32%
• 1M: -0.14%
• YTD: 2.49%
• 6M: 3.00%
• 1Y: 7.97%
• 3Y*: 8.82%
• 5Y*: —
• 10Y*: —

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

MYHE vs. PHYD - Yearly Performance Comparison

	2026 (YTD)
MYHE State Street My2031 High Yield Corporate Bond ETF	1.20%
PHYD Putnam ESG High Yield ETF -	1.83%

Correlation

The correlation between MYHE and PHYD is 0.77, 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 27, 2026	0.77

Return for Risk

MYHE vs. PHYD — Risk / Return Rank

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

PHYD

PHYD Risk / Return Rank: 80
PHYD Sharpe Ratio Rank: 75
PHYD Sortino Ratio Rank: 85
PHYD Omega Ratio Rank: 82
PHYD Calmar Ratio Rank: 77
PHYD Martin Ratio Rank: 81

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.

MYHE vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street My2031 High Yield Corporate Bond ETF (MYHE) 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.

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

Sharpe Ratios by Period

	MYHE	PHYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	1.74	-0.91

Drawdowns

MYHE vs. PHYD - Drawdown Comparison

The maximum MYHE drawdown since its inception was -2.28%, smaller than the maximum PHYD drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for MYHE and PHYD.

Drawdown Indicators

	MYHE	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-2.28%	-4.33%	+2.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.14%	—
Current Drawdown Current decline from peak	-0.17%	-0.62%	+0.45%
Average Drawdown Average peak-to-trough decline	-0.59%	-0.62%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.51%	—

Volatility

Volatility by Period

	MYHE	PHYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.48%	3.35%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.48%	4.59%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	4.59%	+0.89%

MYHE vs. PHYD - Expense Ratio Comparison

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

Dividends

MYHE vs. PHYD - Dividend Comparison

MYHE's dividend yield for the trailing twelve months is around 1.81%, less than PHYD's 9.02% yield.

Position	TTM	2025	2024	2023
MYHE State Street My2031 High Yield Corporate Bond ETF	1.81%	0.00%	0.00%	0.00%
PHYD Putnam ESG High Yield ETF -	9.02%	6.63%	6.80%	6.15%

Frequently Asked Questions

Can I hold both MYHE and PHYD in my portfolio?

MYHE and PHYD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MYHE or PHYD?

On fees, MYHE 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, MYHE or PHYD?

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

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

PHYD has the higher dividend yield at 9.02%, compared with 1.81% for MYHE.

What is the main difference between MYHE and PHYD?

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