SPHY vs. HYG
Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
SPHY and HYG 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. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both SPHY and HYG 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 HYG.
Performance
SPHY vs. HYG - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with SPHY having a 8.54% return and HYG slightly higher at 8.63%. Over the past 10 years, SPHY has outperformed HYG with an annualized return of 4.60%, while HYG has yielded a comparatively lower 3.95% annualized return.
SPHY
8.54%
0.70%
6.62%
13.05%
4.91%
4.60%
HYG
8.63%
0.68%
7.16%
13.04%
3.63%
3.95%
Key characteristics
| SPHY | HYG | |
|---|---|---|
| Sharpe Ratio | 3.03 | 2.85 |
| Sortino Ratio | 4.77 | 4.44 |
| Omega Ratio | 1.61 | 1.55 |
| Calmar Ratio | 3.91 | 2.68 |
| Martin Ratio | 23.83 | 21.35 |
| Ulcer Index | 0.56% | 0.62% |
| Daily Std Dev | 4.40% | 4.65% |
| Max Drawdown | -21.97% | -34.24% |
| Current Drawdown | -0.42% | -0.36% |
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SPHY vs. HYG - Expense Ratio Comparison
SPHY has a 0.10% expense ratio, which is lower than HYG's 0.49% expense ratio.
Correlation
The correlation between SPHY and HYG is 0.57, 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
SPHY vs. HYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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. HYG - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.77%, more than HYG's 5.88% 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% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.88% | 5.75% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% | 5.69% | 6.10% |
Drawdowns
SPHY vs. HYG - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum HYG drawdown of -34.24%. Use the drawdown chart below to compare losses from any high point for SPHY and HYG. For additional features, visit the drawdowns tool.
Volatility
SPHY vs. HYG - Volatility Comparison
SPDR Portfolio High Yield Bond ETF (SPHY) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG) have volatilities of 0.96% and 0.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.