SPLB vs. USHY
Compare and contrast key facts about SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and iShares Broad USD High Yield Corporate Bond ETF (USHY).
SPLB and USHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPLB is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays Long U.S. Corporate Index. It was launched on Mar 10, 2009. 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 SPLB 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.
Performance
SPLB vs. USHY - Performance Comparison
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SPLB vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | -0.71% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 23.49% | -7.35% | 3.71% |
USHY iShares Broad USD High Yield Corporate Bond ETF | -0.38% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Returns By Period
In the year-to-date period, SPLB achieves a -0.71% return, which is significantly lower than USHY's -0.38% return.
SPLB
- 1D
- 0.77%
- 1M
- -3.01%
- YTD
- -0.71%
- 6M
- -1.36%
- 1Y
- 3.79%
- 3Y*
- 3.08%
- 5Y*
- -1.80%
- 10Y*
- 2.39%
USHY
- 1D
- 0.99%
- 1M
- -0.93%
- YTD
- -0.38%
- 6M
- 0.88%
- 1Y
- 7.12%
- 3Y*
- 8.33%
- 5Y*
- 4.14%
- 10Y*
- —
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SPLB vs. USHY - Expense Ratio Comparison
SPLB has a 0.07% 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%.
Return for Risk
SPLB vs. USHY — Risk / Return Rank
SPLB
USHY
SPLB vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) 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.
| SPLB | USHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.38 | 1.30 | -0.92 |
Sortino ratioReturn per unit of downside risk | 0.57 | 1.91 | -1.34 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.30 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.85 | -1.06 |
Martin ratioReturn relative to average drawdown | 1.80 | 9.37 | -7.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPLB | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.38 | 1.30 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.57 | -0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.56 | -0.12 |
Correlation
The correlation between SPLB and USHY is 0.46, 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.
Dividends
SPLB vs. USHY - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 5.37%, less than USHY's 6.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.37% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.87% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Drawdowns
SPLB vs. USHY - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SPLB and USHY.
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Drawdown Indicators
| SPLB | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.46% | -22.44% | -12.02% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -3.92% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -15.56% | -18.90% |
Max Drawdown (10Y)Largest decline over 10 years | -34.46% | — | — |
Current DrawdownCurrent decline from peak | -15.92% | -1.36% | -14.56% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -2.72% | -5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | 0.77% | +1.59% |
Volatility
SPLB vs. USHY - Volatility Comparison
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a higher volatility of 4.02% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 2.19%. This indicates that SPLB's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLB | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 2.19% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.67% | 2.83% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.14% | 5.51% | +4.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.74% | 7.33% | +5.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.95% | 8.32% | +4.63% |