SPHY vs. SCHF
SPHY (SPDR Portfolio High Yield Bond ETF) and SCHF (Schwab International Equity ETF) are both exchange-traded funds - SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index, while SCHF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex U.S. Index. Both are passively managed. Over the past 10 years, SPHY returned 5.21%/yr vs 10.82%/yr for SCHF. At a 0.45 correlation, their price movements are largely independent. SPHY charges 0.05%/yr vs 0.06%/yr for SCHF.
Performance
SPHY vs. SCHF - Performance Comparison
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Returns By Period
In the year-to-date period, SPHY achieves a 1.85% return, which is significantly lower than SCHF's 15.39% return. Over the past 10 years, SPHY has underperformed SCHF with an annualized return of 5.21%, while SCHF has yielded a comparatively higher 10.82% annualized return.
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%
SCHF
- 1D
- 0.29%
- 1M
- 1.69%
- YTD
- 15.39%
- 6M
- 17.24%
- 1Y
- 31.75%
- 3Y*
- 19.18%
- 5Y*
- 9.76%
- 10Y*
- 10.82%
SPHY vs. SCHF - 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% |
SCHF Schwab International Equity ETF | 15.39% | 34.55% | 3.28% | 18.35% | -14.80% | 11.40% | 9.48% | 22.26% | -14.29% | 26.03% |
Correlation
The correlation between SPHY and SCHF is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2012 | 0.45 |
Over the past year, SPHY and SCHF have become more correlated (0.72) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
SPHY vs. SCHF — Risk / Return Rank
SPHY
SCHF
SPHY vs. SCHF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Schwab International Equity ETF (SCHF). 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 | SCHF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.33 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 2.64 | +0.30 |
| Martin ratioReturn relative to average drawdown | 13.29 | 10.14 | +3.14 |
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Drawdowns
SPHY vs. SCHF - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum SCHF drawdown of -34.87%. Use the drawdown chart below to compare losses from any high point for SPHY and SCHF.
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Drawdown Indicators
| SPHY | SCHF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.97% | -34.87% | +12.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -11.48% | +9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | -13.41% | +8.56% |
Max Drawdown (5Y)Largest decline over 5 years | -15.29% | -29.14% | +13.85% |
Max Drawdown (10Y)Largest decline over 10 years | -21.97% | -34.87% | +12.90% |
Current DrawdownCurrent decline from peak | 0.00% | -1.00% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -2.29% | -7.37% | +5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.99% | -2.46% |
Volatility
SPHY vs. SCHF - Volatility Comparison
The current volatility for SPDR Portfolio High Yield Bond ETF (SPHY) is 1.16%, while Schwab International Equity ETF (SCHF) has a volatility of 6.91%. This indicates that SPHY experiences smaller price fluctuations and is considered to be less risky than SCHF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHY | SCHF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 6.91% | -5.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 14.42% | -11.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 16.67% | -12.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 16.56% | -9.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.87% | 17.24% | -9.37% |
SPHY vs. SCHF - Expense Ratio Comparison
SPHY has a 0.05% expense ratio, which is lower than SCHF's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPHY vs. SCHF - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.24%, more than SCHF's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHF Schwab International Equity ETF | 2.96% | 3.42% | 3.26% | 2.97% | 2.80% | 3.19% | 2.08% | 2.95% | 3.06% | 2.35% | 2.58% | 2.26% |
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
SPHY and SCHF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHF has higher volatility (6.91%) compared to SPHY (1.16%). In terms of maximum drawdown, SPHY dropped -21.97% vs SCHF's -34.87%.
On 10-year performance, SCHF leads with 10.82% vs 5.21% for SPHY. On fees, SPHY is cheaper at 0.05% per year. On volatility, SPHY has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHF has performed better with a 10.82% return vs 5.21%. 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 0.06% for SCHF.
SPHY has the higher dividend yield at 7.24%, compared with 2.96% for SCHF.
SPHY is categorized as High Yield Bonds, while SCHF is Foreign Large Cap Equities. SPHY tracks ICE BofA US High Yield Index, while SCHF tracks FTSE Developed ex U.S. Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.05% for SPHY and 0.06% for SCHF.
SPHY currently has the higher Sharpe Ratio (1.91 vs 1.82), 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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