SKOR vs. SPHY
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and SPHY (SPDR Portfolio High Yield Bond ETF) are both exchange-traded funds - SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index, while SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index. Both are passively managed. Over the past 10 years, SKOR returned 2.73%/yr vs 4.92%/yr for SPHY. Their 0.35 correlation means their historical movements had little consistent relationship. SKOR charges 0.22%/yr vs 0.05%/yr for SPHY.
Performance
SKOR vs. SPHY - Performance Comparison
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Returns By Period
In the year-to-date period, SKOR achieves a 0.01% return, which is significantly lower than SPHY's 1.84% return. Over the past 10 years, SKOR has underperformed SPHY with an annualized return of 2.73%, while SPHY has yielded a comparatively higher 4.92% annualized return.
SKOR
- 1D
- -0.11%
- 1M
- -0.79%
- 6M
- -0.26%
- YTD
- 0.01%
- 1Y
- 2.60%
- 3Y*
- 5.67%
- 5Y*
- 1.51%
- 10Y*
- 2.73%
- ALL TIME*
- 2.96%
SPHY
- 1D
- 0.04%
- 1M
- -0.30%
- 6M
- 1.20%
- YTD
- 1.84%
- 1Y
- 5.47%
- 3Y*
- 8.43%
- 5Y*
- 4.19%
- 10Y*
- 4.92%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.39M | $2.88M | $3.03M | |
| $242.17M | $164.39M | $124.54M |
SKOR vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.01% | 7.99% | 4.42% | 7.64% | -9.88% | -1.40% | 8.84% | 10.69% | -1.25% | 4.38% |
SPHY SPDR Portfolio High Yield Bond ETF | 1.84% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Correlation
The correlation between SKOR and SPHY is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014 | 0.35 |
Over the past year, SKOR and SPHY have become more correlated (0.69) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
SKOR vs. SPHY — Risk / Return Rank
SKOR
SPHY
SKOR vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) 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.
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.
| SKOR | SPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.27 | -0.71 |
| Martin ratioReturn relative to average drawdown | 4.98 | 10.10 | -5.12 |
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Drawdowns
SKOR vs. SPHY - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, smaller than the maximum SPHY drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for SKOR and SPHY.
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Drawdown Indicators
| SKOR | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -21.97% | +5.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -2.41% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -2.98% | -4.85% | +1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -15.07% | -15.29% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | -21.97% | +5.99% |
Current DrawdownCurrent decline from peak | -1.10% | -0.43% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -2.27% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.54% | +0.11% |
Volatility
SKOR vs. SPHY - Volatility Comparison
FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) and SPDR Portfolio High Yield Bond ETF (SPHY) have volatilities of 0.73% and 0.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKOR | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.75% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | 3.02% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 3.67% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 7.18% | -2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 7.83% | -2.93% |
SKOR vs. SPHY - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is higher than SPHY's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SKOR vs. SPHY - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.71%, less than SPHY's 7.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.30% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
SPHY SPDR Portfolio High Yield Bond ETF | 6.62% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Frequently Asked Questions
SKOR and SPHY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPHY has higher volatility (0.75%) compared to SKOR (0.73%). In terms of maximum drawdown, SKOR dropped -15.98% vs SPHY's -21.97%.
On 10-year performance, SPHY leads with 4.92% vs 2.73% for SKOR. On fees, SPHY is cheaper at 0.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPHY has performed better with a 4.92% return vs 2.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPHY is cheaper with a 0.05% expense ratio, compared with 0.22% for SKOR.
SPHY has the higher dividend yield at 6.62%, compared with 4.30% for SKOR.
SKOR is categorized as Corporate Bonds, while SPHY is High Yield Bonds. SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: Northern Trust and State Street. Their fees differ too: 0.22% for SKOR and 0.05% for SPHY.
SPHY currently has the higher Sharpe Ratio (1.49 vs 1.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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