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SPHY vs. LDRH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPHY vs. LDRH

Last updated Jun 5, 2026

SPHY (SPDR Portfolio High Yield Bond ETF) and LDRH (iShares iBonds 1-5 Year High Yield and Income Ladder ETF) are both High Yield Bonds funds - SPHY tracks the ICE BofA US High Yield Index while LDRH tracks the BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. Both are passively managed. Over the past year, SPHY returned 7.02% vs 6.30% for LDRH. Their correlation of 0.87 suggests significant overlap in exposure. SPHY charges 0.05%/yr vs 0.35%/yr for LDRH.

Performance

SPHY vs. LDRH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio High Yield Bond ETF (SPHY) and iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPHY achieves a 1.63% return, which is significantly lower than LDRH's 1.88% return.

SPHY

1D
0.09%
1M
0.42%
YTD
1.63%
6M
2.02%
1Y
7.02%
3Y*
8.98%
5Y*
4.41%
10Y*
5.14%

LDRH

1D
0.08%
1M
0.29%
YTD
1.88%
6M
2.45%
1Y
6.30%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPHY vs. LDRH - Yearly Performance Comparison

2026 (YTD)20252024
SPHY
SPDR Portfolio High Yield Bond ETF		1.63%8.59%-0.41%
LDRH
iShares iBonds 1-5 Year High Yield and Income Ladder ETF		1.88%7.18%0.21%

Correlation

The correlation between SPHY and LDRH is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Nov 11, 2024

0.87

The correlation between SPHY and LDRH has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

SPHY vs. LDRH - Sectors Allocation Comparison

Sectors
SPHY
LDRH

Financial Services

99.9%

-

Energy

0.1%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

SPHY
99.9%
LDRH

-

Energy

SPHY
0.1%
LDRH
100.0%

Basic Materials

SPHY

-

LDRH

-

Communication Services

SPHY

-

LDRH

-

Consumer Cyclical

SPHY

-

LDRH

-

Consumer Defensive

SPHY

-

LDRH

-

Healthcare

SPHY

-

LDRH

-

Industrials

SPHY

-

LDRH

-

Real Estate

SPHY

-

LDRH

-

Technology

SPHY

-

LDRH

-

Utilities

SPHY

-

LDRH

-

Compare stocks, funds, or ETFs

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SPDR Portfolio High Yield Bond ETF

iShares iBonds 1-5 Year High Yield and Income Ladder ETF

Often compared with SPHY:
SPHY vs. SCYBSPHY vs. HYGSPHY vs. USHYSPHY vs. SCHDSPHY vs. JNKSPHY vs. SHYGSPHY vs. VWEAX
Often compared with LDRH:
LDRH vs. IBHELDRH vs. HYBLLDRH vs. HYSLDRH vs. VGHYLDRH vs. GHYBLDRH vs. IBHGLDRH vs. XHYF

Return for Risk

SPHY vs. LDRH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPHY
SPHY Risk / Return Rank: 6464
Overall Rank
SPHY Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
SPHY Sortino Ratio Rank: 6464
Sortino Ratio Rank
SPHY Omega Ratio Rank: 6464
Omega Ratio Rank
SPHY Calmar Ratio Rank: 6060
Calmar Ratio Rank
SPHY Martin Ratio Rank: 7272
Martin Ratio Rank
LDRH
LDRH Risk / Return Rank: 8585
Overall Rank
LDRH Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
LDRH Sortino Ratio Rank: 8888
Sortino Ratio Rank
LDRH Omega Ratio Rank: 8181
Omega Ratio Rank
LDRH Calmar Ratio Rank: 8888
Calmar Ratio Rank
LDRH Martin Ratio Rank: 9191
Martin Ratio Rank
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. LDRH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH). 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.

SPHYLDRHDifference
Sharpe ratioReturn per unit of total volatility
1.92
2.43

-0.51

Sortino ratioReturn per unit of downside risk
2.92
3.92

-0.99

Omega ratioGain probability vs. loss probability

1.38

1.48

-0.10

Calmar ratioReturn relative to maximum drawdown

2.92

5.14

-2.21

Martin ratioReturn relative to average drawdown

13.27

21.43

-8.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPHY vs. LDRH - Sharpe Ratio Comparison

The current SPHY Sharpe Ratio is 1.92, which is comparable to the LDRH Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of SPHY and LDRH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPHYLDRHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

2.43

-0.51

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

1.70

-1.07

Drawdowns

SPHY vs. LDRH - Drawdown Comparison

The maximum SPHY drawdown since its inception was -21.97%, which is greater than LDRH's maximum drawdown of -3.17%. Use the drawdown chart below to compare losses from any high point for SPHY and LDRH.

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Drawdown Indicators

SPHYLDRHDifference

Max Drawdown

Largest peak-to-trough decline

-21.97%

-3.17%

-18.80%

Max Drawdown (1Y)

Largest decline over 1 year

-2.41%

-1.23%

-1.18%

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

-0.14%

-0.12%

-0.02%

Average Drawdown

Average peak-to-trough decline

-2.29%

-0.24%

-2.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.53%

0.30%

+0.23%

Volatility

SPHY vs. LDRH - Volatility Comparison

SPDR Portfolio High Yield Bond ETF (SPHY) has a higher volatility of 1.14% compared to iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH) at 0.69%. This indicates that SPHY's price experiences larger fluctuations and is considered to be riskier than LDRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPHYLDRHDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.14%

0.69%

+0.45%

Volatility (6M)

Calculated over the trailing 6-month period

2.91%

1.97%

+0.94%

Volatility (1Y)

Calculated over the trailing 1-year period

3.68%

2.61%

+1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.17%

3.51%

+3.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.89%

3.51%

+4.38%

SPHY vs. LDRH - Expense Ratio Comparison

SPHY has a 0.05% expense ratio, which is lower than LDRH's 0.35% expense ratio.

Dividends

SPHY vs. LDRH - Dividend Comparison

SPHY's dividend yield for the trailing twelve months is around 7.26%, more than LDRH's 6.99% yield.

PositionTTM20252024202320222021202020192018201720162015
LDRH
iShares iBonds 1-5 Year High Yield and Income Ladder ETF		6.99%6.41%1.13%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		7.26%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

SPHY and LDRH have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPHY has higher volatility (1.14%) compared to LDRH (0.69%). In terms of maximum drawdown, SPHY dropped -21.97% vs LDRH's -3.17%.

On 1-year performance, SPHY leads with 7.02% vs 6.30% for LDRH. On fees, SPHY is cheaper at 0.05% per year. On volatility, LDRH has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, SPHY has performed better with a 7.02% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHY is cheaper with a 0.05% expense ratio, compared with 0.35% for LDRH.

SPHY has the higher dividend yield at 7.26%, compared with 6.99% for LDRH.

SPHY tracks ICE BofA US High Yield Index, while LDRH tracks BlackRock iBonds 1-5 Year High Yield and Income Ladder Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.05% for SPHY and 0.35% for LDRH.

LDRH currently has the higher Sharpe Ratio (2.43 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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