SPHY vs. VWEAX
Compare and contrast key facts about SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX).
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. VWEAX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPHY or VWEAX.
Performance
SPHY vs. VWEAX - Performance Comparison
Returns By Period
In the year-to-date period, SPHY achieves a 8.54% return, which is significantly higher than VWEAX's 5.90% return. Both investments have delivered pretty close results over the past 10 years, with SPHY having a 4.62% annualized return and VWEAX not far behind at 4.55%.
SPHY
8.54%
0.57%
6.34%
13.35%
4.91%
4.62%
VWEAX
5.90%
-0.02%
5.11%
11.07%
3.79%
4.55%
Key characteristics
| SPHY | VWEAX | |
|---|---|---|
| Sharpe Ratio | 3.05 | 3.15 |
| Sortino Ratio | 4.81 | 5.28 |
| Omega Ratio | 1.61 | 1.79 |
| Calmar Ratio | 3.75 | 3.73 |
| Martin Ratio | 24.03 | 19.44 |
| Ulcer Index | 0.56% | 0.57% |
| Daily Std Dev | 4.40% | 3.52% |
| Max Drawdown | -21.97% | -30.03% |
| Current Drawdown | -0.42% | -0.75% |
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SPHY vs. VWEAX - Expense Ratio Comparison
SPHY has a 0.10% expense ratio, which is lower than VWEAX's 0.13% 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 VWEAX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
SPHY vs. VWEAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio High Yield Bond ETF (SPHY) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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. VWEAX - Dividend Comparison
SPHY's dividend yield for the trailing twelve months is around 7.77%, more than VWEAX's 6.11% 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% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 6.11% | 5.79% | 5.20% | 4.24% | 4.72% | 5.32% | 6.10% | 5.42% | 5.49% | 5.99% | 5.71% | 5.89% |
Drawdowns
SPHY vs. VWEAX - Drawdown Comparison
The maximum SPHY drawdown since its inception was -21.97%, smaller than the maximum VWEAX drawdown of -30.03%. Use the drawdown chart below to compare losses from any high point for SPHY and VWEAX. For additional features, visit the drawdowns tool.
Volatility
SPHY vs. VWEAX - Volatility Comparison
SPDR Portfolio High Yield Bond ETF (SPHY) has a higher volatility of 1.02% compared to Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) at 0.71%. This indicates that SPHY's price experiences larger fluctuations and is considered to be riskier than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.