SCYB vs. SPHY
Compare and contrast key facts about Schwab High Yield Bond ETF (SCYB) and SPDR Portfolio High Yield Bond ETF (SPHY).
SCYB and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCYB is a passively managed fund by Charles Schwab that tracks the performance of the ICE BofA US Cash Pay High Yield Constrained Index. It was launched on Jul 10, 2023. 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. Both SCYB and SPHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SCYB or SPHY.
Key characteristics
| SCYB | SPHY | |
|---|---|---|
| YTD Return | 10.64% | 8.50% |
| 1Y Return | 16.51% | 13.50% |
| Sharpe Ratio | 3.81 | 3.25 |
| Sortino Ratio | 6.21 | 5.20 |
| Omega Ratio | 1.78 | 1.66 |
| Calmar Ratio | 8.50 | 3.66 |
| Martin Ratio | 33.36 | 26.42 |
| Ulcer Index | 0.53% | 0.56% |
| Daily Std Dev | 4.64% | 4.52% |
| Max Drawdown | -3.57% | -21.97% |
| Current Drawdown | -0.49% | -0.46% |
Correlation
The correlation between SCYB and SPHY is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SCYB vs. SPHY - Performance Comparison
In the year-to-date period, SCYB achieves a 10.64% return, which is significantly higher than SPHY's 8.50% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SCYB vs. SPHY - Expense Ratio Comparison
SCYB has a 0.03% expense ratio, which is lower than SPHY's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SCYB vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab High Yield Bond ETF (SCYB) 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.
Dividends
SCYB vs. SPHY - Dividend Comparison
SCYB's dividend yield for the trailing twelve months is around 10.18%, more than SPHY's 7.78% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCYB Schwab High Yield Bond ETF | 10.18% | 3.94% | 0.00% | 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 | 7.78% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
SCYB vs. SPHY - Drawdown Comparison
The maximum SCYB drawdown since its inception was -3.57%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for SCYB and SPHY. For additional features, visit the drawdowns tool.
Volatility
SCYB vs. SPHY - Volatility Comparison
Schwab High Yield Bond ETF (SCYB) has a higher volatility of 1.21% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 1.14%. This indicates that SCYB'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.