SHYG vs. SPHY
Compare and contrast key facts about iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and SPDR Portfolio High Yield Bond ETF (SPHY).
SHYG and SPHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. 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 SHYG 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: SHYG or SPHY.
Performance
SHYG vs. SPHY - Performance Comparison
Returns By Period
In the year-to-date period, SHYG achieves a 7.81% return, which is significantly lower than SPHY's 8.31% return. Over the past 10 years, SHYG has underperformed SPHY with an annualized return of 4.27%, while SPHY has yielded a comparatively higher 4.53% annualized return.
SHYG
7.81%
0.20%
5.38%
11.44%
4.41%
4.27%
SPHY
8.31%
0.02%
5.89%
13.56%
4.76%
4.53%
Key characteristics
| SHYG | SPHY | |
|---|---|---|
| Sharpe Ratio | 3.26 | 3.09 |
| Sortino Ratio | 5.17 | 4.86 |
| Omega Ratio | 1.65 | 1.62 |
| Calmar Ratio | 6.59 | 3.43 |
| Martin Ratio | 27.64 | 24.42 |
| Ulcer Index | 0.41% | 0.56% |
| Daily Std Dev | 3.50% | 4.40% |
| Max Drawdown | -19.27% | -21.97% |
| Current Drawdown | -0.62% | -0.63% |
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SHYG vs. SPHY - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than SPHY's 0.10% expense ratio.
Correlation
The correlation between SHYG and SPHY is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
SHYG vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) 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
SHYG vs. SPHY - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 6.76%, less than SPHY's 7.79% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.76% | 6.54% | 5.57% | 4.84% | 5.07% | 5.32% | 5.90% | 5.49% | 5.53% | 5.17% | 4.33% | 0.85% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.79% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
Drawdowns
SHYG vs. SPHY - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.27%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for SHYG and SPHY. For additional features, visit the drawdowns tool.
Volatility
SHYG vs. SPHY - Volatility Comparison
The current volatility for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) is 0.92%, while SPDR Portfolio High Yield Bond ETF (SPHY) has a volatility of 1.09%. This indicates that SHYG 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.