SPHY vs. BSJO

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO).

SPHY and BSJO 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. BSJO is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD High Yield Corporate Bond 2024 TR Index. It was launched on Sep 14, 2016. Both SPHY and BSJO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPHY vs. BSJO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio High Yield Bond ETF (SPHY) and Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO). The values are adjusted to include any dividend payments, if applicable.

SPHY vs. BSJO - Yearly Performance Comparison

	2026 (YTD)
SPHY SPDR Portfolio High Yield Bond ETF	-0.81%
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	0.00%

Returns By Period

SPHY

• 1D: 0.25%
• 1M: -0.69%
• YTD: -0.07%
• 6M: 1.01%
• 1Y: 7.16%
• 3Y*: 8.49%
• 5Y*: 4.36%
• 10Y*: 5.32%

BSJO

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPHY vs. BSJO - Expense Ratio Comparison

SPHY has a 0.10% expense ratio, which is lower than BSJO's 0.42% expense ratio.

BSJO

Invesco BulletShares 2024 High Yield Corporate Bond ETF

SPHY

SPDR Portfolio High Yield Bond ETF

Return for Risk

SPHY vs. BSJO — Risk / Return Rank

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

SPHY

SPHY Risk / Return Rank: 75
SPHY Sharpe Ratio Rank: 71
SPHY Sortino Ratio Rank: 75
SPHY Omega Ratio Rank: 79
SPHY Calmar Ratio Rank: 69
SPHY Martin Ratio Rank: 82

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.

SPHY vs. BSJO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO). 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.

	SPHY	BSJO	Difference
Sharpe ratio Return per unit of total volatility	1.31	—	—
Sortino ratio Return per unit of downside risk	1.94	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	1.81	—	—
Martin ratio Return relative to average drawdown	9.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPHY	BSJO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	—	—

Dividends

SPHY vs. BSJO - Dividend Comparison

SPHY's dividend yield for the trailing twelve months is around 7.37%, while BSJO has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPHY SPDR Portfolio High Yield Bond ETF	7.37%	7.38%	7.80%	7.30%	6.47%	5.13%	5.63%	5.73%	4.09%	4.41%	4.27%	4.29%
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPHY vs. BSJO - Drawdown Comparison

The maximum SPHY drawdown since its inception was -21.97%, which is greater than BSJO's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPHY and BSJO.

Drawdown Indicators

	SPHY	BSJO	Difference
Max Drawdown Largest peak-to-trough decline	-21.97%	0.00%	-21.97%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.97%	—	—
Current Drawdown Current decline from peak	-1.06%	0.00%	-1.06%
Average Drawdown Average peak-to-trough decline	-2.32%	0.00%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	SPHY	BSJO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.50%	0.00%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.16%	0.00%	+7.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.97%	0.00%	+7.97%