SPHY vs. FLOW.AS

Last updated Jun 13, 2026

SPHY (SPDR Portfolio High Yield Bond ETF) is High Yield Bonds fund tracking the ICE BofA US High Yield Index, while FLOW.AS (Flow Traders BV) is a stock. Over the past 10 years, SPHY returned 5.21%/yr vs 5.22%/yr for FLOW.AS. At a 0.09 correlation, their price movements are largely independent.

Performance

SPHY vs. FLOW.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio High Yield Bond ETF (SPHY) and Flow Traders BV (FLOW.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPHY is traded in USD, while FLOW.AS is traded in EUR. To make them comparable, the FLOW.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPHY achieves a 1.85% return, which is significantly lower than FLOW.AS's 3.18% return. Both investments have delivered pretty close results over the past 10 years, with SPHY having a 5.21% annualized return and FLOW.AS not far ahead at 5.22%.

SPHY

• 1D: 0.04%
• 1M: 0.67%
• YTD: 1.85%
• 6M: 2.41%
• 1Y: 7.35%
• 3Y*: 8.90%
• 5Y*: 4.36%
• 10Y*: 5.21%

FLOW.AS

• 1D: 2.94%
• 1M: -10.41%
• YTD: 3.18%
• 6M: 8.68%
• 1Y: -9.18%
• 3Y*: 10.48%
• 5Y*: -4.58%
• 10Y*: 5.22%

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

SPHY vs. FLOW.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPHY SPDR Portfolio High Yield Bond ETF	1.85%	8.59%	8.54%	12.81%	-10.57%	5.61%	6.65%	13.16%	-3.35%	7.35%
FLOW.AS Flow Traders BV	3.18%	32.16%	13.51%	-9.98%	-34.02%	22.11%	58.08%	-20.03%	41.38%	-27.57%

Correlation

The correlation between SPHY and FLOW.AS is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 10, 2015	0.09

The correlation between SPHY and FLOW.AS shifts across timeframes, from 0.04 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SPHY vs. FLOW.AS — Risk / Return Rank

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

SPHY

SPHY Risk / Return Rank: 73
SPHY Sharpe Ratio Rank: 68
SPHY Sortino Ratio Rank: 76
SPHY Omega Ratio Rank: 75
SPHY Calmar Ratio Rank: 67
SPHY Martin Ratio Rank: 79

FLOW.AS

FLOW.AS Risk / Return Rank: 28
FLOW.AS Sharpe Ratio Rank: 29
FLOW.AS Sortino Ratio Rank: 27
FLOW.AS Omega Ratio Rank: 26
FLOW.AS Calmar Ratio Rank: 31
FLOW.AS Martin Ratio Rank: 31

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. FLOW.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Flow Traders BV (FLOW.AS). 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.

	SPHY	FLOW.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	-0.32	+2.23
Sortino ratio: Return per unit of downside risk	2.91	-0.23	+3.14
Omega ratio: Gain probability vs. loss probability	1.38	0.96	+0.41
Calmar ratio: Return relative to maximum drawdown	2.94	-0.38	+3.32
Martin ratio: Return relative to average drawdown	13.29	-0.71	+13.99

SPHY vs. FLOW.AS - Sharpe Ratio Comparison

The current SPHY Sharpe Ratio is 1.91, which is higher than the FLOW.AS Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of SPHY and FLOW.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPHY vs. FLOW.AS - Drawdown Comparison

The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum FLOW.AS drawdown of -58.79%. Use the drawdown chart below to compare losses from any high point for SPHY and FLOW.AS.

Drawdown Indicators

	SPHY	FLOW.AS	Difference
Max Drawdown Largest peak-to-trough decline	-21.97%	-58.79%	+36.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-24.07%	+21.66%
Max Drawdown (3Y) Largest decline over 3 years	-4.85%	-29.36%	+24.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.29%	-58.21%	+42.92%
Max Drawdown (10Y) Largest decline over 10 years	-21.97%	-58.79%	+36.82%
Current Drawdown Current decline from peak	0.00%	-22.86%	+22.86%
Average Drawdown Average peak-to-trough decline	-2.29%	-30.68%	+28.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	12.71%	-12.18%

Volatility

SPHY vs. FLOW.AS - Volatility Comparison

The current volatility for SPDR Portfolio High Yield Bond ETF (SPHY) is 1.16%, while Flow Traders BV (FLOW.AS) has a volatility of 16.08%. This indicates that SPHY experiences smaller price fluctuations and is considered to be less risky than FLOW.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHY	FLOW.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	16.08%	-14.92%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	22.22%	-19.27%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	28.66%	-24.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	32.61%	-25.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	32.78%	-24.91%

Dividends

SPHY vs. FLOW.AS - Dividend Comparison

SPHY's dividend yield for the trailing twelve months is around 7.24%, while FLOW.AS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLOW.AS Flow Traders BV	0.00%	0.00%	0.70%	6.12%	4.85%	10.87%	16.81%	6.27%	6.11%	5.00%	4.73%	1.10%
SPHY SPDR Portfolio High Yield Bond ETF	7.24%	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 FLOW.AS in my portfolio?

SPHY and FLOW.AS have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.