SPHY vs. USHY
Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and iShares Broad USD High Yield Corporate Bond ETF (USHY).
SPHY and USHY 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. USHY is a passively managed fund by iShares that tracks the performance of the ICE BofA US High Yield Constrained. It was launched on Oct 25, 2017. Both SPHY and USHY 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 USHY.
Performance
SPHY vs. USHY - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with SPHY having a 8.54% return and USHY slightly lower at 8.52%.
SPHY
8.54%
0.57%
6.34%
13.35%
4.91%
4.62%
USHY
8.52%
0.49%
6.17%
13.15%
4.42%
N/A
Key characteristics
| SPHY | USHY | |
|---|---|---|
| Sharpe Ratio | 3.05 | 3.07 |
| Sortino Ratio | 4.81 | 4.82 |
| Omega Ratio | 1.61 | 1.61 |
| Calmar Ratio | 3.75 | 3.26 |
| Martin Ratio | 24.03 | 23.40 |
| Ulcer Index | 0.56% | 0.57% |
| Daily Std Dev | 4.40% | 4.34% |
| Max Drawdown | -21.97% | -22.44% |
| Current Drawdown | -0.42% | -0.37% |
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SPHY vs. USHY - Expense Ratio Comparison
SPHY has a 0.10% expense ratio, which is lower than USHY's 0.15% 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%.
Correlation
The correlation between SPHY and USHY is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SPHY vs. USHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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. USHY - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.77%, more than USHY's 6.68% 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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.68% | 6.62% | 6.08% | 5.07% | 5.31% | 5.91% | 6.30% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPHY vs. USHY - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, roughly equal to the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SPHY and USHY. For additional features, visit the drawdowns tool.
Volatility
SPHY vs. USHY - Volatility Comparison
SPDR Portfolio High Yield Bond ETF (SPHY) and iShares Broad USD High Yield Corporate Bond ETF (USHY) have volatilities of 1.02% and 1.00%, 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.