SFY.AX vs. SYI.AX

Last updated Jul 16, 2026

SFY.AX (SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF) and SYI.AX (SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF) are both exchange-traded funds - SFY.AX is a Global Equities fund tracking the SPDR Index, while SYI.AX is a Dividend fund tracking the SPDR Index. Both are passively managed. Over the past 10 years, SFY.AX returned 8.93%/yr vs 8.84%/yr for SYI.AX. Their correlation of 0.85 suggests significant overlap in exposure.

Performance

SFY.AX vs. SYI.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) and SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF (SYI.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFY.AX achieves a 5.64% return, which is significantly lower than SYI.AX's 9.11% return. Both investments have delivered pretty close results over the past 10 years, with SFY.AX having a 8.93% annualized return and SYI.AX not far behind at 8.84%.

SFY.AX

• 1D: 0.16%
• 1M: -0.09%
• 6M: 5.09%
• YTD: 5.64%
• 1Y: 5.96%
• 3Y*: 10.63%
• 5Y*: 8.17%
• 10Y*: 8.93%

SYI.AX

• 1D: 0.26%
• 1M: 2.35%
• 6M: 9.64%
• YTD: 9.11%
• 1Y: 13.34%
• 3Y*: 12.29%
• 5Y*: 9.39%
• 10Y*: 8.84%

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

SFY.AX vs. SYI.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFY.AX SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF	5.64%	7.36%	11.46%	12.65%	1.60%	16.17%	-1.66%	24.22%	-1.86%	9.06%
SYI.AX SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF	9.11%	14.97%	8.11%	8.25%	4.60%	12.56%	1.52%	19.81%	-6.15%	6.58%

Correlation

The correlation between SFY.AX and SYI.AX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 28, 2010	0.85

The correlation between SFY.AX and SYI.AX shifts across timeframes, from 0.72 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SFY.AX vs. SYI.AX — Risk / Return Rank

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

SFY.AX

SFY.AX Risk / Return Rank: 21
SFY.AX Sharpe Ratio Rank: 20
SFY.AX Sortino Ratio Rank: 20
SFY.AX Omega Ratio Rank: 19
SFY.AX Calmar Ratio Rank: 24
SFY.AX Martin Ratio Rank: 21

SYI.AX

SYI.AX Risk / Return Rank: 41
SYI.AX Sharpe Ratio Rank: 41
SYI.AX Sortino Ratio Rank: 40
SYI.AX Omega Ratio Rank: 38
SYI.AX Calmar Ratio Rank: 50
SYI.AX Martin Ratio Rank: 39

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.

SFY.AX vs. SYI.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) and SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF (SYI.AX). 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.

	SFY.AX	SYI.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.57	1.21	-0.65
Sortino ratio: Return per unit of downside risk	0.91	1.75	-0.84
Omega ratio: Gain probability vs. loss probability	1.11	1.21	-0.10
Calmar ratio: Return relative to maximum drawdown	0.97	2.06	-1.09
Martin ratio: Return relative to average drawdown	2.05	4.97	-2.92

SFY.AX vs. SYI.AX - Sharpe Ratio Comparison

The current SFY.AX Sharpe Ratio is 0.57, which is lower than the SYI.AX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of SFY.AX and SYI.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SFY.AX vs. SYI.AX - Drawdown Comparison

The maximum SFY.AX drawdown since its inception was -48.20%, which is greater than SYI.AX's maximum drawdown of -36.94%. Use the drawdown chart below to compare losses from any high point for SFY.AX and SYI.AX.

Drawdown Indicators

	SFY.AX	SYI.AX	Difference
Max Drawdown Largest peak-to-trough decline	-48.20%	-36.94%	-11.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-6.57%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-12.86%	-11.03%	-1.83%
Max Drawdown (5Y) Largest decline over 5 years	-14.21%	-15.72%	+1.51%
Max Drawdown (10Y) Largest decline over 10 years	-32.98%	-36.94%	+3.96%
Current Drawdown Current decline from peak	-1.63%	-0.43%	-1.20%
Average Drawdown Average peak-to-trough decline	-9.33%	-4.99%	-4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.75%	+0.78%

Volatility

SFY.AX vs. SYI.AX - Volatility Comparison

SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF (SFY.AX) has a higher volatility of 2.61% compared to SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF (SYI.AX) at 1.83%. This indicates that SFY.AX's price experiences larger fluctuations and is considered to be riskier than SYI.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFY.AX	SYI.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	1.83%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	8.32%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.67%	11.17%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.78%	13.98%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.65%	15.69%	-1.04%

Dividends

SFY.AX vs. SYI.AX - Dividend Comparison

SFY.AX's dividend yield for the trailing twelve months is around 3.85%, less than SYI.AX's 7.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFY.AX SPDR ETFs Australia - State Street SPDR S&P/ASX 50 ETF	3.85%	3.60%	4.04%	4.16%	6.09%	3.95%	2.73%	4.85%	5.07%	4.60%	4.82%	4.34%
SYI.AX SPDR ETFs Australia - State Street SPDR MSCI Australia Select High Dividend Yield ETF	7.52%	12.66%	4.59%	4.98%	16.04%	5.05%	3.01%	6.48%	6.40%	4.92%	4.42%	6.59%

Frequently Asked Questions

Can I hold both SFY.AX and SYI.AX in my portfolio?

SFY.AX and SYI.AX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SFY.AX and SYI.AX?

SFY.AX is categorized as Global Equities, while SYI.AX is Dividend. Both ETFs track SPDR Index.