SPHY vs. DADS

Last updated Jun 4, 2026

SPHY (SPDR Portfolio High Yield Bond ETF) and DADS (Digital Asset Debt Strategy ETF) are both High Yield Bonds funds. SPHY is passively managed, while DADS is actively managed. A 0.52 correlation means they provide meaningful diversification when combined. SPHY charges 0.05%/yr vs 1.04%/yr for DADS.

Performance

SPHY vs. DADS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio High Yield Bond ETF (SPHY) and Digital Asset Debt Strategy ETF (DADS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHY achieves a 1.54% return, which is significantly lower than DADS's 14.37% return.

SPHY

• 1D: -0.21%
• 1M: 0.42%
• YTD: 1.54%
• 6M: 1.93%
• 1Y: 7.16%
• 3Y*: 8.97%
• 5Y*: 4.39%
• 10Y*: 5.15%

DADS

• 1D: -0.89%
• 1M: 4.49%
• YTD: 14.37%
• 6M: 9.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPHY vs. DADS - Yearly Performance Comparison

	2026 (YTD)	2025
SPHY SPDR Portfolio High Yield Bond ETF	1.54%	3.18%
DADS Digital Asset Debt Strategy ETF	14.37%	-3.41%

Correlation

The correlation between SPHY and DADS is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025	0.52

Return for Risk

SPHY vs. DADS — Risk / Return Rank

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

SPHY

SPHY Risk / Return Rank: 62
SPHY Sharpe Ratio Rank: 56
SPHY Sortino Ratio Rank: 62
SPHY Omega Ratio Rank: 62
SPHY Calmar Ratio Rank: 59
SPHY Martin Ratio Rank: 71

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. DADS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Digital Asset Debt Strategy ETF (DADS). 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	DADS	Difference
Sharpe ratio: Return per unit of total volatility	1.96	—	—
Sortino ratio: Return per unit of downside risk	2.98	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.98	—	—
Martin ratio: Return relative to average drawdown	13.52	—	—
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	DADS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.73	-0.10

Drawdowns

SPHY vs. DADS - Drawdown Comparison

The maximum SPHY drawdown since its inception was -21.97%, which is greater than DADS's maximum drawdown of -17.07%. Use the drawdown chart below to compare losses from any high point for SPHY and DADS.

Drawdown Indicators

	SPHY	DADS	Difference
Max Drawdown Largest peak-to-trough decline	-21.97%	-17.07%	-4.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.85%	—	—
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	-0.22%	-2.77%	+2.55%
Average Drawdown Average peak-to-trough decline	-2.29%	-7.63%	+5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	—	—

Volatility

Volatility by Period

	SPHY	DADS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	17.58%	-13.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.17%	17.58%	-10.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.89%	17.58%	-9.69%

SPHY vs. DADS - Expense Ratio Comparison

SPHY has a 0.05% expense ratio, which is lower than DADS's 1.04% expense ratio.

Dividends

SPHY vs. DADS - Dividend Comparison

SPHY's dividend yield for the trailing twelve months is around 7.27%, more than DADS's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DADS Digital Asset Debt Strategy ETF	2.76%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPHY SPDR Portfolio High Yield Bond ETF	7.27%	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

Can I hold both SPHY and DADS in my portfolio?

SPHY and DADS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPHY or DADS?

On fees, SPHY is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPHY or DADS?

SPHY is cheaper with a 0.05% expense ratio, compared with 1.04% for DADS.

Which ETF pays a higher dividend yield, SPHY or DADS?

SPHY has the higher dividend yield at 7.27%, compared with 2.76% for DADS.

What is the main difference between SPHY and DADS?

They also come from different issuers: State Street and Alphabit. Their fees differ too: 0.05% for SPHY and 1.04% for DADS.