SPHY vs. USD=X
SPHY (SPDR Portfolio High Yield Bond ETF) is High Yield Bonds fund tracking the ICE BofA US High Yield Index, while USD=X (USD Cash) is a currency. Over the past 10 years, SPHY returned 5.17%/yr vs 0.00%/yr for USD=X.
Performance
SPHY vs. USD=X - Performance Comparison
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Returns By Period
SPHY
- 1D
- 0.30%
- 1M
- 1.45%
- YTD
- 1.98%
- 6M
- 2.24%
- 1Y
- 7.25%
- 3Y*
- 8.90%
- 5Y*
- 4.43%
- 10Y*
- 5.17%
USD=X
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
SPHY vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPHY SPDR Portfolio High Yield Bond ETF | 1.98% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
USD=X USD Cash | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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Return for Risk
SPHY vs. USD=X — Risk / Return Rank
SPHY
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPHY vs. USD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and USD Cash (USD=X). 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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.39 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | — | — |
| Martin ratioReturn relative to average drawdown | 13.62 | — | — |
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Drawdowns
SPHY vs. USD=X - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPHY and USD=X.
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Drawdown Indicators
| SPHY | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.97% | 0.00% | -21.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | 0.00% | -2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -4.85% | 0.00% | -4.85% |
Max Drawdown (5Y)Largest decline over 5 years | -15.29% | 0.00% | -15.29% |
Max Drawdown (10Y)Largest decline over 10 years | -21.97% | 0.00% | -21.97% |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -2.28% | 0.00% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.00% | +0.53% |
Volatility
SPHY vs. USD=X - Volatility Comparison
SPDR Portfolio High Yield Bond ETF (SPHY) has a higher volatility of 1.12% compared to USD Cash (USD=X) at 0.00%. This indicates that SPHY's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHY | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.00% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 0.00% | +2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 0.00% | +3.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 0.00% | +7.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.87% | 0.00% | +7.87% |
Frequently Asked Questions
SPHY has higher volatility (1.12%) compared to USD=X (0.00%). In terms of maximum drawdown, SPHY dropped -21.97% vs USD=X's 0.00%.
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