SPHY vs. VGT

Last updated Jun 13, 2026

SPHY (SPDR Portfolio High Yield Bond ETF) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index, while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, SPHY returned 5.21%/yr vs 25.19%/yr for VGT. At a 0.41 correlation, their price movements are largely independent. SPHY charges 0.05%/yr vs 0.09%/yr for VGT.

Performance

SPHY vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPHY achieves a 1.85% return, which is significantly lower than VGT's 24.03% return. Over the past 10 years, SPHY has underperformed VGT with an annualized return of 5.21%, while VGT has yielded a comparatively higher 25.19% 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%

VGT

• 1D: 0.58%
• 1M: 1.35%
• YTD: 24.03%
• 6M: 24.13%
• 1Y: 50.48%
• 3Y*: 29.84%
• 5Y*: 20.35%
• 10Y*: 25.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPHY vs. VGT - 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%
VGT Vanguard Information Technology ETF	24.03%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between SPHY and VGT is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jun 19, 2012	0.41

The correlation between SPHY and VGT shifts across timeframes, from 0.41 (all time) to 0.64 (5 years), reflecting how their relationship changes across market environments.

SPHY vs. VGT - Sectors Allocation Comparison

Sectors	SPHY	VGT
Financial Services	99.9%	0.5%
Energy	0.1%	0.3%
Basic Materials	-	0.0%
Communication Services	-	0.5%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	-
Healthcare	-	0.0%
Industrials	-	0.4%
Real Estate	-	-
Technology	-	98.5%
Utilities	-	-

Return for Risk

SPHY vs. VGT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPHY

SPHY Risk / Return Rank: 73
SPHY Sharpe Ratio Rank: 68
SPHY Sortino Ratio Rank: 76
SPHY Omega Ratio Rank: 75
SPHY Calmar Ratio Rank: 67
SPHY Martin Ratio Rank: 79

VGT

VGT Risk / Return Rank: 70
VGT Sharpe Ratio Rank: 79
VGT Sortino Ratio Rank: 71
VGT Omega Ratio Rank: 72
VGT Calmar Ratio Rank: 67
VGT Martin Ratio Rank: 59

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. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard Information Technology ETF (VGT). 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	VGT	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.19	-0.28
Sortino ratio: Return per unit of downside risk	2.91	2.74	+0.17
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	2.94	2.94	0.00
Martin ratio: Return relative to average drawdown	13.29	9.11	+4.18

SPHY vs. VGT - Sharpe Ratio Comparison

The current SPHY Sharpe Ratio is 1.91, which is comparable to the VGT Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of SPHY and VGT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPHY vs. VGT - Drawdown Comparison

The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum VGT drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for SPHY and VGT.

Drawdown Indicators

	SPHY	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-21.97%	-54.63%	+32.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-16.40%	+13.99%
Max Drawdown (3Y) Largest decline over 3 years	-4.85%	-27.23%	+22.38%
Max Drawdown (5Y) Largest decline over 5 years	-15.29%	-35.07%	+19.78%
Max Drawdown (10Y) Largest decline over 10 years	-21.97%	-35.07%	+13.10%
Current Drawdown Current decline from peak	0.00%	-7.18%	+7.18%
Average Drawdown Average peak-to-trough decline	-2.29%	-7.95%	+5.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	5.28%	-4.75%

Volatility

SPHY vs. VGT - Volatility Comparison

The current volatility for SPDR Portfolio High Yield Bond ETF (SPHY) is 1.16%, while Vanguard Information Technology ETF (VGT) has a volatility of 10.00%. This indicates that SPHY experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPHY	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	10.00%	-8.84%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	18.00%	-15.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	22.00%	-18.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	25.40%	-18.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	24.72%	-16.85%

SPHY vs. VGT - Expense Ratio Comparison

SPHY has a 0.05% expense ratio, which is lower than VGT's 0.09% 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. VGT - Dividend Comparison

SPHY's dividend yield for the trailing twelve months is around 7.24%, more than VGT's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VGT Vanguard Information Technology ETF	0.33%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both SPHY and VGT in my portfolio?

SPHY and VGT have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPHY or VGT?

VGT has higher volatility (10.00%) compared to SPHY (1.16%). In terms of maximum drawdown, SPHY dropped -21.97% vs VGT's -54.63%.

Which ETF is better, SPHY or VGT?

On 10-year performance, VGT leads with 25.19% 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.

Which ETF has performed better, SPHY or VGT?

Over the 10-year period, VGT has performed better with a 25.19% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPHY or VGT?

SPHY is cheaper with a 0.05% expense ratio, compared with 0.09% for VGT.

Which ETF pays a higher dividend yield, SPHY or VGT?

SPHY has the higher dividend yield at 7.24%, compared with 0.33% for VGT.

What is the main difference between SPHY and VGT?

SPHY is categorized as High Yield Bonds, while VGT is Technology Equities. SPHY tracks ICE BofA US High Yield Index, while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.05% for SPHY and 0.09% for VGT.

Which has better risk-adjusted returns?

VGT currently has the higher Sharpe Ratio (2.19 vs 1.91), 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.