SPBO vs. USHY
Compare and contrast key facts about SPDR Portfolio Corporate Bond ETF (SPBO) and iShares Broad USD High Yield Corporate Bond ETF (USHY).
SPBO and USHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPBO is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index. It was launched on Apr 6, 2011. USHY is a passively managed fund by iShares that tracks the performance of the ICE BofA US High Yield Constrained. It was launched on Oct 25, 2017. Both SPBO and USHY 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: SPBO or USHY.
Performance
SPBO vs. USHY - Performance Comparison
Returns By Period
In the year-to-date period, SPBO achieves a 2.89% return, which is significantly lower than USHY's 8.20% return.
SPBO
2.89%
-2.13%
3.56%
9.15%
0.76%
2.49%
USHY
8.20%
-0.10%
5.68%
13.20%
4.30%
N/A
Key characteristics
| SPBO | USHY | |
|---|---|---|
| Sharpe Ratio | 1.62 | 3.09 |
| Sortino Ratio | 2.40 | 4.85 |
| Omega Ratio | 1.28 | 1.62 |
| Calmar Ratio | 0.66 | 3.03 |
| Martin Ratio | 6.45 | 23.62 |
| Ulcer Index | 1.54% | 0.57% |
| Daily Std Dev | 6.15% | 4.34% |
| Max Drawdown | -22.04% | -22.44% |
| Current Drawdown | -7.26% | -0.67% |
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SPBO vs. USHY - Expense Ratio Comparison
SPBO has a 0.03% expense ratio, which is lower than USHY's 0.15% 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%.
Correlation
The correlation between SPBO and USHY is 0.44, 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
SPBO vs. USHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Corporate Bond ETF (SPBO) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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
SPBO vs. USHY - Dividend Comparison
SPBO's dividend yield for the trailing twelve months is around 5.21%, less than USHY's 6.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | 5.21% | 4.73% | 3.54% | 2.65% | 2.84% | 3.46% | 3.60% | 3.15% | 3.09% | 3.07% | 3.21% | 3.76% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.70% | 6.62% | 6.08% | 5.07% | 5.31% | 5.91% | 6.30% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPBO vs. USHY - Drawdown Comparison
The maximum SPBO drawdown since its inception was -22.04%, roughly equal to the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SPBO and USHY. For additional features, visit the drawdowns tool.
Volatility
SPBO vs. USHY - Volatility Comparison
SPDR Portfolio Corporate Bond ETF (SPBO) has a higher volatility of 1.97% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.06%. This indicates that SPBO's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.