SPHY vs. BND
Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard Total Bond Market ETF (BND).
SPHY and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007. Both SPHY and BND 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: SPHY or BND.
Performance
SPHY vs. BND - Performance Comparison
Returns By Period
In the year-to-date period, SPHY achieves a 8.54% return, which is significantly higher than BND's 1.66% return. Over the past 10 years, SPHY has outperformed BND with an annualized return of 4.60%, while BND has yielded a comparatively lower 1.39% annualized return.
SPHY
8.54%
0.70%
6.62%
13.05%
4.91%
4.60%
BND
1.66%
-0.79%
3.22%
6.06%
-0.33%
1.39%
Key characteristics
| SPHY | BND | |
|---|---|---|
| Sharpe Ratio | 3.03 | 1.09 |
| Sortino Ratio | 4.77 | 1.59 |
| Omega Ratio | 1.61 | 1.19 |
| Calmar Ratio | 3.91 | 0.42 |
| Martin Ratio | 23.83 | 3.51 |
| Ulcer Index | 0.56% | 1.75% |
| Daily Std Dev | 4.40% | 5.65% |
| Max Drawdown | -21.97% | -18.84% |
| Current Drawdown | -0.42% | -9.11% |
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SPHY vs. BND - Expense Ratio Comparison
SPHY has a 0.10% expense ratio, which is higher than BND's 0.03% 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%.
Correlation
The correlation between SPHY and BND is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
SPHY vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard Total Bond Market ETF (BND). 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
SPHY vs. BND - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.77%, more than BND's 3.57% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHY SPDR Portfolio High Yield Bond ETF | 7.77% | 7.30% | 6.46% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.28% | 4.29% | 3.98% | 4.40% |
BND Vanguard Total Bond Market ETF | 3.57% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
SPHY vs. BND - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, which is greater than BND's maximum drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for SPHY and BND. For additional features, visit the drawdowns tool.
Volatility
SPHY vs. BND - Volatility Comparison
The current volatility for SPDR Portfolio High Yield Bond ETF (SPHY) is 0.96%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.52%. This indicates that SPHY experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.